Oracle ( ORCL) released its fourth-quarter report early and soared past estimates as new software licenses surged 7% to $4 billion. The software company also added a hefty $10 billion to its existing buyback program. Oracle shares rose 3.24% to $28.00 in premarket trading Tuesday.
Walgreen ( WAG) said Tuesday it is buying a 45% stake in Alliance Boots for $6.7 billion. Walgreen also has the option to buy the remainder of Alliance Boots, the European health and beauty retailer. Shares of Walgreen rose 2.63% in premarket trading Tuesday to $32.80. Can Ford Win in China? Do the Math
J.C. Penney ( JCP) on Monday announced the abrupt departure of Michael Francis as president after just eight months with the retailer. A reason for Francis' resignation from J.C. Penney, which is undergoing a revamp that hasn't gone well, wasn't disclosed. A press release said CEO Ron Johnson would assume "direct responsibility and oversight of the company's marketing and merchandising functions."
FedEx ( FDX), the package delivery giant, is scheduled to post fiscal fourth-quarter earnings before the opening bell Tuesday, and analysts expect a profit of $1.94 a share for the three months ended in May on revenue of $11.13 billion. Vivus, Arena Obesity Drugs Will Be Approved, Investors Say
Discover ( DFS) is expected by analysts Tuesday to post quarterly earnings of 99 cents a share on revenue of $1.86 billion.
Earnings reports are also scheduled Tuesday from Adobe Systems ( ADBE), Barnes & Noble ( BKS), Jabil Circuit ( JBL), Jefferies ( JEF) and La-Z-Boy ( LZB).
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