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), 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) 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) is seen earning 17 cents a share in the third quarter on revenue of $1.2 billion.
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.
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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV