AOL shares were rising 4.3% to $13.72 in premarket trading Thursday. Yahoo! shares were down 0.2% to $15.74.
NEW YORK ( TheStreet) -- The CEO of web services company AOL ( AOL), Tim Armstrong, has been speaking with key shareholders in the last few weeks to sell the idea of a sale to Yahoo! ( YHOO) that could result in up to $1.5 billion of cost savings, Reuters reported.
Senior Housing Properties Trust ( SNH) was tumbling 3.4% to $21.06 after 8 million common shares were priced at $21 a share.
Specialty pet retailer PetSmart ( PETM) raised its third-quarter earnings guidance to 46 cents to 48 cents a share from a previous range of 41 cents to 45 cents. The company also raised full-year guidance to $2.46 to $2.52 a share from the previous range of $2.40 to $2.48 a share. This comes after Goldman Sachs' analysts last week downgraded the stock on concerns about strained consumer spending. Shares were advancing 3.2% to $45.43.
Akamai Technologies ( AKAM) shares were advancing 3.2% to $24.11 as the company was named as a potential acquisition target for Internet search giant Google ( GOOG). A Business Insider report shortly before the close Wednesday cited numerous unnamed sources in the advertising technology industry as saying Akamai is the name that keeps coming up while chasing a rumor that Google may be pursuing a deal. Google is expected by analysts on Thursday to report third-quarter earnings of $8.74 a share, up from $7.64 a share a year earlier. Google shares were up 0.5% to $551.
Research In Motion ( RIMM) is seeing a 'significant increase in service levels' for BlackBerry in Europe, the Middle East and Africa after outages spread across the globe this week. Shares were falling 2.1% to $23.38.
JPMorgan's ( JPM) third-quarter profit declined 4% to $4.26 billion, or $1.02 a share. Analysts were expecting earnings of 91 cents a share on revenue of $23.39 billion. Shares were down 1.6% to $32.68.
Unionized coking coal workers in Australia have overwhelmingly rejected a labor contract proposed by mining giant BHP Billiton ( BHP) and are getting ready for more strikes. Shares were down 1.5% to $75.04.
Retail giant Wal-Mart ( WMT) will now focus its mergers and acquisition strategy on existing markets, Bloomberg reported, citing Doug McMillon, chief executive of Wal-Mart's international unit, who was speaking at an investor conference this week. Shares were down 0.7% to $54.80. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.