Sprint Nextel Confirms Bid for Shares
Clearwire has been rallying on speculation that Sprint Nextel would acquire all outstanding shares in the broadband firm. S confirmed that chatter this morning by offering $2.90 a share for the company. But CLWR is now trading north of $3, up 12 percent, so it looks like traders expect that number to go even higher!
Is Takeover in the Works for Best Buy?
Best Buy has been the subject of takeover chatter in the past, and today the Minneapolis Star Tribune says a deal is imminent. According to the report, Richard Shulze will offer at least $5-6 billion for the company. BBY climbs 15 percent before the bell on my tradeMONSTER platform.
Boston Beer Issues Higher Guidance
Boston Beer raised its guidance for the year, targeting per-share profits of $4.30 to $4.60. That compares with earlier expectations of $3.80 to $4.20. SAM climbs 12 percent in early trading.
Endo Health Won't Make Its Numbers
Endo Health Solutions announced that it won't meet its financial projections for 2013. Management expects to provided an updated outlook in early January. ENDP, which faces increasing generic competition for its drugs, is down almost 6 percent in the premarket.