U.S. stock futures are higher this morning ahead of the employment report.
The report is expected to show a gain of 185,000 jobs for March. Follow the release at Money Game >
The big news of day so far is Nasdaq’s $11.3 billion hostile bid for NYSE. The Japanese government is planning on acquiring a 50% stake in TEPCO to help out the company in the wake of the Fukushima crisis.
Bill Ackman’s Pershing Square bought an 8.6% stake in Alexander & Baldwin which sent its shares surging.
There was a ton of earnings news out though most of the companies’ reports came in below analyst expectations and were way down in after-hours trading. Here is a roundup of earnings:
- Krispy Kremes fell below expectations
- Medifast missed analyst estimates
- GNC Holdings will start publicly trading today
STAKEHOLDER DEAL: Bill Ackman's Pershing Square bought an 8.6% stake in Alexander & Baldwin for $148 million. Shares were up over 9% in after-hours trading.
EARNINGS MISS: Xyratex fell below expectations with earnings of $0.15 a share for Q1. Shares were down 6% in after-hours trading.
FAILED SURGERY TREATMENT: Omeros Corp. shares plunged 38% in after-hours trading after its knee surgery treatment study failed to meet its goals.
EARNINGS MISS: Krispy Kreme failed to meet expectations with earnings of $0.02 per share. Shares were down 9% in after-hours trading.
EARNINGS MISS: DemandTec missed analyst expectations with its earnings of $0.09 per share. Shares were down over 5% in after-hours trading.
IPO: GNC Holdings will begin public trading today. Its offering of 22.5 million Class A shares priced at $16 each.
EARNINGS MISS: Medifast Inc. missed street predictions with earnings of $0.23 per share for the fourth quarter.
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