General Electric ( GE) is considering breaking off big chunks of its lending business, GE Capital, The Wall Street Journal reported. Top executives are looking at possibly selling businesses in GE Capital's consumer-finance portfolio, such as private-label credit cards or showroom financing for products like snowblowers or lawn mowers, according to three people familiar with the company's thinking, the Journal said. The moves reduce the size of GE Capital's loan portfolio by as much as 16%, according to the newspaper. GE shares rose 1.25% to $19.44 in premarket trading Monday.
Johnson & Johnson ( JNJ) announced Friday it anticipates it will record a one-time charge in the second quarter of about $600 million related to litigation regarding Risperdal, Invega, Natrecor and Omnicare. Shares of Johnson & Johnson ticked up 2 cents, or 0.03%, to $63 in premarket trading Monday. Biotech Stock Mailbag: Keryx, Amarin, ImmunoCellular
Federal regulators have cleared Duke Energy's ( DUK) proposed takeover of Progress Energy ( PGN). The merger will create the nation's largest electric utility.
Telefonica SA ( TEF) sold a 4.56% stake in China Unicom (Hong Kong) Ltd. ( CHU) for €1.13 billion euros, or $1.41 billion. The buyer is China Unicom's parent, China United Network Communications Group. Shares of Telefonica SA rose 2.04% to $12.51 in premarket trading Monday. The Five Dumbest Things on Wall Street This Week: June 8
Finisar ( FNSR), a provider of fiber optic subsystems, is expected by analysts Monday to report fiscal fourth-quarter profit of 21 cents a share on revenue of $242.6 million.
W.W. Grainger ( GWW), the industrial supplies distributor, is expected to report May sales. LULU Pulls an Apple, Market Overreacts
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