Red Hat (RHT), the open source software company, is expected by analysts Wednesday to post fiscal fourth-quarter earnings of 27 cents a share on revenue of $291.2 million. Red Hat shares have gained nearly 29% so far in 2012, and the stock hit a new 52-week high of $54.01 on Tuesday before losing 2.3% to close at $51.90.
Nokia (NOK - Get Report) introduced its first smartphone design for China on Wednesday, hoping for a turnaround through the world's largest cellphone market. The struggling mobile phone maker said that the new Lumia 800C can run on China's CDMA networks and will be supported by China Telecom, a leading carrier in the country. Shares were gaining 3.7% to $5.57.
Bank of America (BAC) is assembling an international advisory board that would provide chief executive Brian Moynihan with guidance on global strategy, The Wall Street Journal reported, citing people familiar with the situation. Shares were trading higher by 1% at $9.70.
Apple (AAPL) will offer refunds to all buyers of the new iPad in Australia after the nation's consumer watchdog accused it of misleading advertising, according to reports. The Australian Competition and Consumer Commission demanded that Apple make consumers aware its third-generation iPad can't connect to a 4G mobile data network in Australia due to technical incompatibility, Reuters reported. Apple agreed to post warnings that its new iPad wasn't compatible with current Australian 4G LTE networks over the next week. Shares were rising 0.6% at $617.99.
Goldman Sachs senior executives have talked about splitting the roles of CEO and chairman, reports said, but pressure for such a move may have eased after a union pension fund withdrew its proposal to divide the chairman and CEO jobs after Goldman agreed to change its board structure. The deal between Goldman and the American Federation of State, County and Municipal Employees means the securities firm will appoint a "lead" director, but shareholders won't get a chance to vote at the firm's annual meeting in May on the proposal to replace Chairman and CEO Lloyd Blankfein with an independent chairman, The Wall Street Journalreported. Shares were up 0.5% at $126.96.
Family Dollar (FDO), the off-price retailer, posted fiscal second-quarter earnings of $1.15 a share on sales of $2.46 billion. Analysts were expecting profit of $1.13 a share on sales of $2.46 billion. Shares were nudging lower by 0.3% to $58.08.
Robbins & Myers (RBN), a supplier of equipment and systems for applications in the global energy, industrial, chemical and pharmaceutical markets, reported second-quarter earnings of 84 cents a share on sales of $256 million, beating the average analyst estimate of 75 cents a share on sales of $238 million.
Progress Software (PRGS) will earn 25 cents a share in its first quarter on revenue of $120.5 million, accordingto analysts. -- Written by Joseph Woelfel and Andrea Tse >To contact the writer of this article, click here: Joseph Woelfel Related links:
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