Research in Motion (RIMM) may be preparing for a corporate shakeup which may include ousting co-CEOs Mike Lazaridis and Jim Balsille from the role of chairmen, according to the Financial Post, which cited sources familiar with the situation. Independent director Barbara Stymiest is reportedly in line to take over the role as shareholders have put pressure on RIM to weigh management changes in the wake of its plummeting stock price. Research in Motion was slipping 1 cent to $15.50 in early morning trades.
Dunkin' Group (DNKN - Get Report) announced Wednesday a "long-term agreement" to make National DCP the exclusive a supply chain provider for all Dunkin' Donuts locations in the U.S in an effort to accelerate company plans for expansion, according to a company statement. Established in 2005, National DCP is a cooperative owned and operated by Dunkin' Brands franchisees, the company's Web site said. "In addition to securing our franchisees' role in the Dunkin' Donuts supply chain, it will result in significant cost savings, a higher level of service, and, in the near term, uniform product costs for franchisees across our domestic restaurant network," Neil Moses, Dunkin' chief financial officer, said in the statement. "This is a huge step forward toward our goal of continuing to drive store-level profitability in newer markets and accelerating the expansion of Dunkin' Donuts across the United States." The stock also received an upgrade to neutral from sell at Goldman Sachs. Shares were rising 2.5% to $25.36.
Jefferies Group's (JEF) executives and other employees at the company's prime-brokerage unit threatened to leave the firm in a dispute over issues including a recent restructuring and year-end compensation, The Wall Street Journal reported, citing people familiar with the matter. Jefferies executives and its global head of prime brokerage, Glen Dailey, held a series of meetings Tuesday to discuss the issues, the people told the newspaper. Dailey, responding to questions from the Journal, acknowledged the discussions took place but said no one was leaving. He added that "family affairs are now in order." Jefferies in recent weeks has seen its stock under attack over its European exposure.
Starbucks (SBUX) announced Tuesday plans to raise prices about 1% in some regions including cities such as Boston, New York, Atlanta and Dallas in order to offset higher costs. The international coffee chain did not provide details on all areas to be affected, but said prices will hold steady in California and Florida. The stock rose 0.03% to $45.30.
Automakers General Motors (GM - Get Report) and Ford (F - Get Report) are scheduled to post car sales figures for December on Wednesday.
Acme Packet (APKT), the networking-equipment maker, lowered its outlook for the fourth quarter. The company, whose products include both hardware and software, now sees non-GAAP earnings of 26 cents to 28 cents a share for the three months ended Dec. 31 on revenue ranging from $84 million to $86 million. The current average estimate of analysts polled by Thomson Reuters is for a profit of 37 cents a share in the quarter on revenue of $93.4 million. Acme was tumbling 18% to $26.04.
TiVo (TIVO - Get Report) reached a settlement of its patent dispute related to digital video recording technology with AT&T (T - Get Report). The deal calls for the parties to enter a mutual patent licensing agreement with AT&T agreeing to make an initial cash payment of $51 million to TiVo, as well as additional recurring quarterly guaranteed payments totaling another $164 million for a total consideration of $215 million. TiVo shares were soaring 13.2% to $10.10. AT&T shares were up 0.7% to $30.60.
Analysts expect Mosaic (MOS - Get Report), the potash provider, on Wednesday to post fiscal second-quarter earnings of $1.30 a share on sales of $3.2 billion. Mosaic was falling 0.9% to $52.10.
-- Written by Kaitlyn Kiernan and Joseph Woelfel in New York. >To contact the writer of this article, click here: Kaitlyn Kiernan