Stocks to Watch: Sprint, Citigroup

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.

Softbank Reaches Deal to Buy Sprint for $20.1B

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Citigroup (C), 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

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Amazon.com (AMZN) is in advanced talks to buy the mobile chip business of Texas Instruments (TXN), according to Calcalist, an Israeli financial newspaper.

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Discount broker Charles Schwab (SCHW) is seen earning 17 cents a share in the third quarter on revenue of $1.2 billion.

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Gannett (GCI), 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.

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WD-40 (WDFC) is expected to report quarterly profit of 70 cents a share on revenue of $95.5 million.

-- Written by Joseph Woelfel



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