Several potential bidders may be preparing offers to counter the effort by Dell (DELL) founder Michael Dell to take the company private. The Wall Street Journal reports that Southeastern Asset Management has considered teaming up with a partner. The investment firm is one of Dell's biggest shareholders -- and one of the most vocal critics of the $24 billion dollar deal that Dell has proposed.
The Journal also says rival computer maker Hewlett-Packard (HPQ) has weighed making a bid. And Bloomberg reports that Blackstone Group and Chinese computer maker Lenovo may be interested as well. Dell shares jumped yesterday following word that investor Carl Icahn has taken a big stake in the company. He wants Dell to pay a nine dollar special dividend, instead of going private.
Time Warner (TWX) is set to rise for a second straight day. After the close yesterday, the company confirmed that it will spin-off its magazine division, creating in a separate, publicly traded company. Its magazine titles include Time, Sports Illustrated, Fortune and People.
The National Transportation Safety Board will issue an interim report today about one of the battery fire incidents aboard the new Boeing (BA) Dreamliner. The entire fleet of 787s has been grounded worldwide after a series of problems.
PetSmart (PETM) could be in the dog-house with investors after issuing a weaker-than-expected forecast for this year. The company operates 13-hundred pet stores.
Zumiez (ZUMZ), a retailer of clothes for teenagers, reported a big drop in same store sales last month. Its stock is likely to follow suit.
Photo Credit: Damian Dovarganes, AP