Stocks in the News: Walt Disney, Toyota, MBIA

Before you go, we thought you'd like these...
Before you go close icon
The following is a round-up of news likely to affect stock prices today:

Reporting this afternoon are Walt Disney (DIS) and Electronic Arts (ERTS).

Toyota (TM) returned to profit in the latest quarter after recalling more than 8 million cars worldwide. While still hurting from the recalls, Toyota has benefited from the economic recovery and said Tuesday profit totaled 112 billion yen ($1.2 billion) compared with a 766 billion yen loss the year before. Quarterly revenue jumped to 5.28 trillion yen ($57 billion) from 3.54 trillion yen a year earlier.

Telefonica SA (TEF) on Tuesday made a €5.7 billion ($7.4 billion) offer to take over Vivo (VIV), Brazil's leading mobile phone operator. Telefonica is trying to buy the 50% it doesn't own of Brasilcel from Portugal Telecom. Brasilcel owns 60% of Vivo. TEF shares dropped 5.7% in premarket trading.

LDK Solar Co. Ltd. (LDK) reported late Monday a first-quarter profit of $7.2 million, or 6 cents per share, on higher sales and better gross margins. Results trumped analysts' expectations. Shares rose 3.4% ahead of the bell.

Priceline.com Inc.
(PCLN) reported late Monday first quarter net income that nearly doubled, but outlook that failed to meet Wall Street expectations. Shares tumbled over 13% in premarket trades.

MBIA Inc. (MBI) reported late Monday its third quarterly loss in a row. The loss was driven primarily by a $2.2 billion pre-tax unrealized loss on insured credit derivatives, MBIA said in a statement. Shares dropped nearly 7% in premarket action.

Legg Mason Inc. (LM) on Monday said it swung to a fiscal fourth-quarter profit and reported results that beat analysts' estimates. It also outlined several structural changes that would save costs and announced a stock buyback of up to $1 billion in shares. Shares were 1.5% higher before the bell.

Fluor Corp. (FLR) first-quarter profit reported Monday fell 33% as revenue fell 15% on continued weakness in its oil and gas operations. Shares fell 3.7%.

Intel (INTC) is holding an analysts meeting later today.

Apple (AAPL) shares target price was raised at Kaufman Bros from $315 to $320.

J.C. Penney Co. (JCP) was downgraded to neutral from overweight by J.P. Morgan. Shares fell 3.3% before the bell.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners