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Prudential Shares Drift Lower In Asian Debuts
HONG KONG — Shares of Prudential PLC changed hands for 7.54 Singapore dollars ($5.33) in early trade in Singapore , while in Hong Kong they were trading at 58.75 Hong Kong dollars ($7.02), easing slightly from London where they closed at 5.30 pounds, equivalent to $7.65. The shares, which marked the debut for Prudential’s secondary listing in Asia, were thinly traded, coming to market on a day of broad regional declines in equities.
Report: Google Faces Probes Over Data Collected
Google Inc (GOOG) could face inquiries from German and U.S. officials following the company’s disclosure it had “mistakenly” collected sensitive data sent by consumers over wireless networks, the Financial Times reported on Tuesday.
Google said on Friday its fleets of cars responsible for photographing streets around the world had for several years accidentally collected personal information — which a security expert said could include email messages and passwords.
Peter Schaar, German commissioner for data protection, said the Internet giant’s explanation was “highly unusual” and called for a “detailed probe” into the practice, the FT reported.
“One of the largest companies in the world, the market leader on the Internet, simply disobeyed normal rules,” the FT cited Schaar as saying.
Citing people who spoke to agency officials the paper said the U.S.
Stocks In Focus Monday: Campbell, Donaldson
SAN FRANCISCO — Among the companies whose shares are expected to see active trading in Monday’s session are Campbell Soup, Donaldson and Phillips-Van Heusen.
Campbell Soup (CPB) is projected to post third-quarter earnings of 51 cents a share, according to a consensus survey by FactSet Research.
Donaldson (DCI) is forecast to report a third-quarter earnings of 59 cents a share.
Phillips-Van Heusen (PVH) is projected to report first-quarter earnings of 79 cents a share.
After Friday’s closing bell, Verizon Communications (VZ) said the Federal Communications Commission approved the proposed buyout of Verizon’s local wireline operations by Frontier Communications Corp. (FTR) in 14 states, including Arizona and California.
Watch list
Lazard Ltd.
India 3G Bandwidth Auction Price More Than Quadruples To INR158 Billion
BANGALORE -(Dow Jones)- The bids for bandwidth for third-generation mobile services for all of India jumped more than fourfold to 158.14 billion rupees ($3.51 billion) per slot at the end of 31 days of auctions, and after 172 rounds, the Department of Telecommunications said on its website late Saturday.
The starting price for a pan-India slot was INR35 billion.
All of the country’s 22 service areas received bids.
The auctions will resume Monday with bids for each pan-India slot starting at about INR254.56 billion, the department said.
Delhi became the most expensive service area, with three bids each at INR30.33 billion for the three slots available. Mumbai followed with three bids for the three available slots at about INR29.99 billion each, data from the department showed. The starting price for Delhi and Mumbai was INR3.2 billion.
XL Capital Tops Leading Financials
NEW YORK — XL Capital Ltd. was the leading stock among the top financial companies early Wednesday, as its shares rose nearly 7%. Also up were regional banks Huntington Bancshares Inc. , Marshall & Ilsley Corp. and Zions Bancorp , after a Morgan Stanley report sounded a positive note on the sector. The Financial Select Sector SPDR exchange-traded fund was up a fraction in early trades.
Stocks To Watch Monday: Tyson Foods, Fluor, Dynegy
SAN FRANCISCO — Among the companies whose shares are expected to see active trade in Monday’s session are Tyson Foods Inc., Fluor Corp. and Dynegy Inc.
Tyson Foods Inc. (TSN) is estimated to report a profit of 34 cents a share in the fiscal second quarter, according to analysts surveyed by FactSet Research.
Fluor Corp. (FLR) is expected to report earnings of 74 cents a share in the first quarter, according to analysts surveyed by FactSet Research.
Dynegy Inc. (DYN) is likely to report a first-quarter loss of 10 cents a share, according to analysts surveyed by Thomson Reuters.
Dean Foods Co. (DF) is expected to report first-quarter earnings of 28 cents a share, according to analysts surveyed by FactSet Research.
NRG Energy Inc. (NRG) is forecast to post earnings of 31 cents a share in the first quarter, according to analysts surveyed by FactSet Research.
Legg Mason Inc.
DirecTV Doubles 1Q Earnings, Topping Views
Satellite-TV provider DirecTV (DTV) more than doubled its first-quarter earnings thanks to higher margins and cash flow, the company reported on Thursday.
The average revenue per subscriber increased 6.4%, while free cash flow doubled to $1.03 billion.
Subscriber additions were 100,000, compared with 460,000 a year ago, yet the company’s Latin American business reported a 30% rise in revenue to $779 million, and an increase in the average monthly bill of 9.5%.
DirecTV reported profit of $558 million, or 59 cents per share, up from $201 million, or 20 cents per share, last year.
Analysts had projected earnings of 45 cents per share.
Revenue rose 14% to $5.61 billion, surpassing the analysts estimate of $5.42 billion.