Wall St. Brief: Microsoft Gets KUDOS, Bed Bath & Beyond EARNINGS, American Airlines’ DISPUTE
Microsoft (NASDAQ:MSFT) received broad industry support and won good reviews in Wednesday’s introduction of its Windows Phone 8. AT&T (NYSE:T), Verizon (NYSE:VZ), and T-Mobile (DTEGF.PK) will support the new OS, while Samsung (SSNLF.PK), HTC, Huawei and Nokia (NYSE:NOK) are its hardware partners. While the WP8’s features and Windows 8 code compatibility have received compliments, reviewers have expressed disappointed that the WP7 devices cannot be upgraded.
Don’t Miss: Samsung to Apple: It’s Time to PAY!
Johnson & Johnson (NYSE:JNJ) is nearing a settlement in a Department of Justice review of the off-label marketing for its antipsychotic medication Risperdal. With the deal, it will represent one of the biggest ones for a drug-marketing case with Johnson&Johnson paying $1.5 billion to $2 billion–or possibly higher.
The American Airlines (AAMRQ.PK) pilots union have rejected the company’s last contract proposal and now the dispute will move to bankruptcy court New York. Judge Sean Lane is expected to decide on Friday on the airline’s motion to dismiss its existing contract and terms. Look for possible suitor US Airways (NYSE:LCC) to keep its eyes on the proceeding.
Bed Bath & Beyond’s (NASDAQ:BBBY) first quarter earnings per share increased 24 percent to $0.89, surpassing expectations, while revenue was inline with its 5 percent rise to $2.22 billion. Shares were got slammed 10.6 percent in after-market trading thanks to its second quarter guidance that came in under consensus. This drop came after the stock reached an all-time high on Tuesday.
A Closer Look: Bed Bath & Beyond Earnings Cheat Sheet>>
American Tower (NYSE:AMT), Crown Castle (NYSE:CCI) and private firms have entered a second round of bids for T-Mobile USA’s (DTEGF.PK) cellular towers, reported Bloomberg. Macquarie analyst Kevin Smithen has estimated the assets could grab a $2 billion purchase price and said, “I expect they will announce a winner in July and probably close the deal by September.”