Homebuilder Lennar Corp. (LEN: news, chart, profile) (LEN.B: news, chart, profile) upped its 2005 outlook for earnings from continuing operations to $7.80 from $7.15 a share, citing strong consumer demand, a solid balance sheet and record backlog. Lennar shares rose 4.3% on the INET trading perform. See story.
Maytag Corp. (MYG: news, chart, profile) , already in a $14-a-share, $2.1 billion merger deal with Ripplewood Holdings, received a preliminary offer from Bain, Blackstone and China's Haier about 15% higher than Ripplewood's per-share offer. Maytag shares rose 5.7% to $16.10 in pre-open deals.
China's CNOOC reportedly may offer around $20 billion in cash, or $71.50 a share, for Unocal Corp. (UCL: news, chart, profile) , topping Chevron Corp.'s (CVX: news, chart, profile) agreed cash and shares bid. Unocal shares rose 4% on the Archipelago exchange.
Shares of EADS, the 80% owner of Airbus, climbed 2.9% in Paris as brokers upped 2007 delivery forecasts after an investor presentation. Airbus is Boeing Co.'s (BA: news, chart, profile) chief rival.
Ford Motor Co. (F: news, chart, profile) may get a bid for Hertz from a consortium of Texas Pacific Group, Thomas H. Lee Partners and Bain Capital, the New York Post reported. Ford is planning to sell the unit via an IPO.
European steel producers including Arcelor, the world's second-largest, were lower after U.S. peer Nucor Inc. (NUE: news, chart, profile) overnight cut its second-quarter earnings forecast and after Tokyo Steel Manufacturing Co. said it will slash prices next month to lower inventories.
Maytag Corp. (MYG: news, chart, profile) , already in a $14-a-share, $2.1 billion merger deal with Ripplewood Holdings, received a preliminary offer from Bain, Blackstone and China's Haier about 15% higher than Ripplewood's per-share offer. Maytag shares rose 5.7% to $16.10 in pre-open deals.
China's CNOOC reportedly may offer around $20 billion in cash, or $71.50 a share, for Unocal Corp. (UCL: news, chart, profile) , topping Chevron Corp.'s (CVX: news, chart, profile) agreed cash and shares bid. Unocal shares rose 4% on the Archipelago exchange.
Shares of EADS, the 80% owner of Airbus, climbed 2.9% in Paris as brokers upped 2007 delivery forecasts after an investor presentation. Airbus is Boeing Co.'s (BA: news, chart, profile) chief rival.
Ford Motor Co. (F: news, chart, profile) may get a bid for Hertz from a consortium of Texas Pacific Group, Thomas H. Lee Partners and Bain Capital, the New York Post reported. Ford is planning to sell the unit via an IPO.
European steel producers including Arcelor, the world's second-largest, were lower after U.S. peer Nucor Inc. (NUE: news, chart, profile) overnight cut its second-quarter earnings forecast and after Tokyo Steel Manufacturing Co. said it will slash prices next month to lower inventories.
