Stocks to Watch: BP, GM, Wal-Mart (Update 1)
NEW YORK -- BP (BP), the British oil giant, said Friday it has received "unsolicited indications of interest" for its 50% stake in TNK-BP, Russia's third-largest oil producer.
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BP's stake in TNK-BP could be worth more than $30 billion, according to The Wall Street Journal.
TNK-BP is a joint venture between BP and AAR, a consortium of Russian billionaire shareholders. The company has been involved in a corporate dispute after AAR blocked BP's deal with Rosneft, a Russian oil company.
Shares of BP rose 2.3% in premarket trading Friday to $37.30.
Automakers including Ford (F) and General Motors (GM) on Friday will be releasing U.S. sales figures for May. RIM: How Long Can Investors Hold Their Breath Waiting for 10?
Wal-Mart (WMT), the world's biggest retailer, holds its annual shareholders' meeting Friday amid calls for Wal-Mart's CEO and chairman to be removed from the board following a bribery investigation in Mexico.
Exxon Mobil (XOM) is planning to build a multi-billion dollar chemical plant in Texas to take advantage of cheap North American shale gas, Reuters reported. According to a U.S. environmental filing seen by Reuters, the plant could be online as soon as 2016.
Splunk (SPLK), the big data specialist, eased past Wall Street's estimates in its first quarterly report since its IPO last month, boosted by the addition of 350 new customers. Splunk posted revenue of $37.2 million on Thursday, an 80% increase from the same period last year, and above analysts' forecast of $34.1 million. Excluding items, Splunk lost 4 cents a share. Analysts were looking for a loss of 6 cents. Will Facebook Buy Nokia?
OmniVision Technologies (OVTI) reported fourth-quarter non-GAAP net income Thursday of $10.9 million, or 20 cents a share, down from year-earlier earnings of $40.8 million, or 66 cents a share. Shares of OmniVision fell 7.66% in premarket trading Friday to $14.94. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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