Stocks in the news: General Motors, Tiffany, J Crew

Before you go, we thought you'd like these...
Before you go close icon
The following post rounds up the companies making headlines today:

General Motors Corp (GM) reached a new deal with bondholders Thursday, but news agencies also report that it will file for bankruptcy protection on Monday June 1. The deal with its creditors and workers should help speed the process. Meanwhile, the future of GM's European operations remains cloudy after Fiat's chief Sergio Marchionne said he's "perplexed" by financing issues arising in talks to buy Opel and will skip a meeting in Berlin that may decide the unit's future.

Tiffany & Co. (TIF) reported quarterly results this morning, posting a lower-than-expected profit as shoppers, not surprisingly, avoided jewelry. Still, the company kept its full-year forecast, citing a smaller sales decline so far in May. Shares declined 2 percent ahead of the bell.
Dell Inc. (DELL) reported a drop in sales and earnings, but topped profit estimates by a penny after cost cuts helped overcome a steeper-than-anticipated slump in sales. Continuing its efforts to cut $4 billion in costs by 2011, Dell will eliminate more jobs and outsource more manufacturing. Shares gained 1 percent in pre-market trade.

Target Corp. (TGT) -- Activist investor William Ackman failed in his attempt to overhaul the board of the retailer as none of his candidates for the board won a seat at the annual shareholder meeting.

Novell Inc. (NOVL) said Thursday that thanks to operating expenses cuts its fiscal second-quarter profit jumped, topping analyst estimates, even as revenue fell 9 percent. NOVL shares climbed 2.3 percent before the bell.

Marvell Technology Group Ltd. (MRVL) reported a decline in its first quarter profit that was inline with estimates as revenue dropped 35 percent. Marvell, however, gave a strong fiscal second-quarter forecast, above estimates, on the back of stronger orders and cost cuts. MRVL shares declined 1.6 percent in pre-market trade.

J Crew Group Inc. (JCG) reported Thursday profit that surpassed analyst expectations and it forecast a surprise second-quarter profit. Shares jumped nearly 20 percent ahead of the bell.
Read Full Story

Markets

S&P 500 2,357.75 -0.82 -0.03%
DJIA 20,635.95 -65.55 -0.32%
NASDAQ 5,882.13 6.99 0.12%
DAX 12,203.00 53.58 0.44%
NIKKEI 225 19,217.48 14.61 0.08%
HANG SENG 24,392.05 46.18 0.19%
USD (per EUR) 1.08 -0.01 -0.56%
USD (per CHF) 1.00 0.00 0.47%
JPY (per USD) 111.04 -0.19 -0.17%
GBP (per USD) 1.24 0.00 -0.08%

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

Farmer Came Outside To Check On The Animals - And Found This In Her Pasture Instead Farmer Came Outside To Check On The Animals - And Found This In Her Pasture Instead
Glass-Printed Photos from Fracture Are an Easy Way to Make Your Room All Nice and Pretty Glass-Printed Photos from Fracture Are an Easy Way to Make Your Room All Nice and Pretty
People Have Been Making Chicken Wrong The Whole Time - Here's The Best Way To Do It People Have Been Making Chicken Wrong The Whole Time - Here's The Best Way To Do It