Delta made a "secret approach" to Singapore Airlines, offering to buy out its stake in Virgin, The Sunday Times reported, without naming sources. The Wall Street Journal also reported Sunday that Delta had approached Singapore Airlines about purchasing its stake in Virgin Atlantic.
If Delta is successful in the purchase, its European partner Air France-KLM could buy part of Sir Richard Branson's 51% stake in Virgin Atlantic, The Sunday Times added.
Singapore Airlines confirmed Monday it was in talks to sell its stake in Virgin Atlantic.Delta Air Lines Reaches Out for Virgin Atlantic Stake: Reports
Bank of America (BAC) is putting off plans to revamp its lineup of bank accounts, and thereby increase monthly fees for some checking accounts, the Journal reported. The new fees would be delayed until at least late next year, the newspaper said, citing people familiar with the bank's plans. Bank of America shares rose 1% to $9.96 in premarket trading on Monday. Mamas Don't Let Your Babies Grow Up to Be Bankers
Dell (DELL)shares rose 5.3% to $10.15 in premarket trading Monday after the PC maker was upgraded to buy from sell at Goldman Sachs.
Boeing (BA)and the Society of Professional Engineering Employees in Aerospace union, which represents the company's 23,000 engineers, tentatively agreed to resume labor talks on Tuesday, after their negotiations on a new contract ended abruptly last week, Reuters reported. Boeing shares rose 0.2% to $74.44 in premarket trading.
AOL (AOL)shares declined 13% to $32.65 in premarket trading.
Specialty retailer Conn's (CONN) rose 6.54% to $30.13 in premarket trading Monday after the company swung to a profit in the third quarter and raised its outlook for the year.
Gravel supplier Martin Marietta Materials (MLM) is likely to explore a friendly offer for rival Vulcan Materials (VMC) rather than launch another hostile takeover attempt, the Journal reported, citing people familiar with the decision.
LDK Solar (LDK) posted a third-quarter loss of $136.9 million, or $1.08 per American depositary share, compared with a year-earlier loss of $114.5 million, or 87 cents per ADS. Analysts forecast LDK to report a third-quarter loss of $1.24 per American depositary share.
Pep Boys (PBY) is seen earnings 13 cents a share in the third quarter on revenue of $527.7 million.
News Corp. (NWSA) is expected this week to appoint Robert Thomson, the managing editor of the Journal, as the CEO of its new publishing company, according to reports.
-- Written by Joseph Woelfel
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