Amazon.com, Piper Jaffray, Tellabs: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading tomorrow. Stock symbols are in parentheses.
Amazon.com Inc. (AMZN) : The largest Internet retailer has started shipping the Kindle Touch 3G to customers in 175 countries and territories around the world, the company said in a statement.
Otelco Inc. (OTT) : Time Warner Cable Inc. (TWC) said it won’t renew a wholesale network connections contract that accounted for 12 percent of the provider of wireless telephone services to rural communities’ 2011 revenue.
Piper Jaffray Cos. (PJC) : The investment bank and asset manager will cut 2 percent to 3 percent of its workforce as part of an effort to reduce costs. The measures will result in a pretax charge of as much as $5 million in the second quarter, the company said in a statement.
Tellabs Inc. (TLAB) : Rob Pullen, chief executive officer of the voice and data systems company, said in a statement that he has been diagnosed with colon cancer and began chemotherapy “a few” weeks ago.
Wal-Mart Stores Inc. (WMT) : Mexican Finance Minister Jose Antonio Meade said authorities don’t have enough information to open an investigation into alleged bribery at the retailer’s local subsidiary. The New York Times reported that the company curtailed an internal investigation into allegations of bribery by executives in Mexico.
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