Nokia & Alcatel-Lucent
Nokia and Alcatel-Lucent are talking merger. The two companies are in discussions over a deal that would create a global networking behemoth. They say a potential merger would take the form of a public exchange offer by Nokia for Alcatel-Lucent, but it’s not a done deal yet. Shares of Nokia fell four percent to $7.96. Alcatel popped 13 percent to $4.93.
Avon is considering a possible sale of its North American business and is exploring strategic alternatives, that’s according to the Wall Street Journal. The beauty products company canceled its analyst meeting for next month, partly because it is reviewing its structure. The stock put on some lipstick today, up 14 percent to $9.15.
An executive at J.C. Penney accidentally emailed sales information to an analyst. The information was disclosed before it was supposed to be, but it was actually positive. The company has seen same-store sales rise this quarter. That exec hit the send button, today investors hit sell. shares were off 2.5 percent to $9.15.
Procter & Gamble
Procter & Gamble’s chief A.G. Lafley appears to be preparing to step down, according to the Wall Street Journal. The consumer products giant could see a change at the top as soon as this summer. Shares were a fraction higher to $83.60.
Zillow saw its shares drop after it offered investors weak guidance. The online real estate company saying profit and sales for the full year would be well below street estimates. Shares fell more than one percent to $91.65.