Reuters Gets Takeover Interest

Yahoo jumps on a report that Microsoft is pursuing a deal, Kodak posts narrower loss; plus more stocks in the news on Friday

Reuters Group RTRSY confirms it has received a preliminary approach from a third party which may or may not lead to an offer being made for Reuters.

Yahoo YHOO, stung by the loss of Internet advertising firm DoubleClick to Google GOOG last month, rose on news that Microsoft MSFT has intensified its pursuit of a deal with Yahoo, asking the company to re-enter formal takeover negotiations, according to the New York Post.

Eastman Kodak EK posts $0.53 first quarter loss vs. $1.04 loss as cost cuts and lower restructuring charges offset an 8% drop in revenue. It cuts its 2007 forecasts for cash generation from its inkjet investment and digital earnings from operations.

Electronic Data Systems EDS posts $0.31 vs. $0.25 first quarter adjusted EPS on a 3% revenue rise. Reaffirms prior 2007 revenue guidance of $22 billion to $22.5 billion; sees adjusted EPS of $1.55 to $1.60, reflecting the impact of pending and expected tax law changes.

Longs Drug Store LDG reports 3.6% higher April preliminary total retail drug store sales from continuing operations.

Starbucks SBUX posts $0.19 vs.$0.16 second quarter EPS on 4% higher same-store sales and 20% higher net revenue. PCLN Sees first quarter pro forma EPS of $0.43 (excluding among other things, the impact of litigation settlement expenses and excise tax refund), vs. prior estimates of $0.22 to $0.28.

Sears Holdings SHLD Says first quarter same-store sales for Kmart fell 4.7% and Sears domestic same-store sales dropped 2.4%, mainly due to a drop in appliance sales. Sees $1.30 to $1.53 first quarter EPS (including gains).

Aon AOC Posts $0.70 vs. $0.51 first quarter EPS from continuing operations on a 10% revenue rise.

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