The following is a round-up of news likely to affect stock prices today:
Goldman Sachs (GS) said on Monday that it expects its litigation costs to remain high as it fights several challenges regarding its business practices. In a quarterly regulatory filing, Goldman disclosed a number of probes and reviews and said it anticipates additional investigations related to its offerings of collateralized debt obligations, the same ones at the heart of the SEC charges.
Dish Network Corp. (DISH) reported Monday that its first-quarter net income fell 26% to $230.9 million, or 52 cents per share, even as it gained new subscribers with promotions and revenue rose 5% to $3.06 billion. Results topped Wall Street's expectations for profit of 50 cents per share on revenue of $3.05 billion.
Tyson Foods (TSN) reported Monday fiscal second-quarter earnings of 42 cents per share on $2.49 billion in sales. Analysts had expected a profit of 34 cents a share, according to FactSet Research.
Fannie Mae (FNM) is asking for an additional $8.4 billion from the government to help cover mounting losses. Fannie reported a first-quarter loss of more than $13 billion. Its results, Fannie said, reflect the continued weakness in the housing and mortgage markets, which while showing some signs of stabilization remain under pressure due to high levels of unemployment.
BP PLC (BP) said Monday that the Gulf of Mexico oil spill has cost the company $350 million so far in immediate response, containment and other efforts. Analysts expect the final bill to run into tens of billions of dollars.
Motorola (MOT) -- Carl Icahn has increased his stake in Motorola to 8.75%, above the 5.15% stake reported at the end of 2009, according to a regulatory filing from late Friday.
Peabody Energy Corp. (BTU) reduced its offer for miner Macarthur Coal Ltd. to $3.4 billion from $3.8 billion, or from AU$16 a share to AU$15, due in part to a proposed new Australian tax on mining profits, the companies said Monday.
Google Inc. (GOOG) shares are undervalued, Barron's wrote in Monday's edition, considering its robust cash flow and the absence of debt and the fact it's trading at a lower forward p/e than Yahoo Inc. (YHOO).
Boeing Co. (BA) is on track to deliver its first 787 Dreamliner, which will compete with Airbus's A380 jet, a Boeing official said Saturday. Shares were upgraded to conviction buy from neutral at Goldman and the target price upped to $90 from $82.
McDonald's Corp. (MCD)reported April same-store sales rose 4.9% in April, slightly lower than March, but a good showing from the company's U.S. business.