NEW YORK -- Softbank reached a deal Monday to acquire a 70% stake in Sprint Nextel (S) for $20.1 billion.
The deal is expected to be completed by the middle of 2013.
Sprint is the No. 3 wireless provider, behind AT&T (T) and Verizon Wireless. The deal will give Sprint more capital to use to compete against its much bigger rivals.
Citigroup (C - Get Report), the third-largest U.S. bank, is expected by analysts Monday to report third-quarter earnings of 96 cents a share on revenue of $18.7 billion. The estimates exclude the previously disclosed $2.9 billion writedown of the bank's 49% stake in Morgan Stanley Smith Barney. Accounting gains/losses stemming from the revaluation of the bank's debt (DVA/CVA) have also been excluded from earnings forecasts. Citigroup's Bottom Line Needs a Housing Bottom
Amazon.com (AMZN - Get Report) is in advanced talks to buy the mobile chip business of Texas Instruments (TXN), according to Calcalist, an Israeli financial newspaper.
Discount broker Charles Schwab (SCHW - Get Report) is seen earning 17 cents a share in the third quarter on revenue of $1.2 billion.
Gannett (GCI - Get Report), the publisher of USA Today, is expected by analysts Monday to earn 53 cents a share in the third quarter on revenue of $1.29 billion.
WD-40 (WDFC) is expected to report quarterly profit of 70 cents a share on revenue of $95.5 million. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts