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Ericsson (NASDAQ:ERIC) is the front-runner among contenders vying to acquire the business support systems operations of Nokia Siemens Networks, according to Dow Jones Newswires. The unit provides billing and charging systems to telecom clients and its sale could garner 300 million euros. Amdocs (NYSE:DOX) is also reported to be interested.
Smithfield Foods (NYSE:SFD) reports an EPS and revenue miss on its FQ1. EPS of $0.40 is off estimates by $0.04 and revenues of $3.09 billion is short by $60 million. Despite lower sales of packaged meats, operating profits are up 29 percent. International operations show better profits due to higher hog production in Eastern Europe. Grain costs are protected from the impact of drought through hedging, though hog production could be adversely affected. 2013 guidance expects 2-3 percent volume growth and margins at the upper bar of the normalized range.
McDonald’s (NYSE:MCD) hones its focus on the important Indian market and plans to create history later this year by opening its first ever vegetarian restaurants near two Indian pilgrimage locations. The company’s expansion plans in the country include doubling its strength of 271 stores within the coming three years.
Rumors that beer prices are set to move higher this fall for some of its brands and in select markets help push shares of Anheuser-Busch InBev (NYSE:BUD) higher and past the $84.50 mark again.
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