Qualcomm RESTRUCTURES, Pacific Ethanol CRASHES 30%, and 3 Morning Headlines for Traders
Qualcomm (NASDAQ:QCOM) plans to spin off its R&D operations and the product and services businesses including semi-conductors into a new unit dubbed Qualcomm Technologies, retaining corporate functions, licensing and management of the patent portfolio with itself.
Wendy’s (NYSE:WEN) is rated Outperform by Cowen, as improving same-restaurant sales make a case for compelling value.
Sony (NYSE:SNE) plans to make a big splash in India by releasing its ‘The Amazing Spider-Man’ movie in 3D, 2D and Imax formats and also in four different languages – this could be the biggest cinematic event in India’s history. Early indications out of U.S. and abroad hint that the film could well turn out to be a global blockbuster, and more.
Renewable fuels producer Pacific Ethanol (NASDAQ:PEIX) announced plans to make an issue of unspecified size comprising common stock and warrants to raise funds for general corporate purposes and to ramp up its stake in New PE Holdco, an owner of ethanol production facilities that are managed by PEIX; shares plunge 30 percent on news of the dilution.
Curtiss-Wright (NYSE:CW) has trimmed its earlier Q2 EPS guidance from $0.60-$0.64 to $0.44-$0.48 due to the impact of restructuring charges and higher outlay on its China AP1000 nuclear reactor program on account of increased labor costs of painting, disassembly, inspection and packaging.
Don’t Miss: Did Google Just Put Apple to SHAME?