Tomahawk, WI 8/15/2011 (PennyPayDay) – Internet search giant Google has reached a deal to buy Motorola Mobility for $40 a share, or about $12.5 billion.Google shares were tumbling 2.5% to $549.50 and Motorola Mobility shares were surging 60.2% to $39.21 in premarket trading Monday.
Lowe's said second-quarter earnings "fell short" of its expectations.
Lowe's, the No. 2 home-improvement retailer behind Home Depot, earned $830 million, or 64 cents a share, including a charge of 4 cents a share for store closings in the second quarter, compared with $832 million, or 58 cents a share, a year earlier.
Analysts surveyed by Thomson Reuters expected Lowe's to earn 66 cents a share.
For the fiscal year ending February 2012, the company expects earnings of $1.48 to $1.54 a share, including about 6 cents a share from impairment and store closing costs. Analysts expect fiscal-year earnings of $1.61 a share.
Shares were slumping 3.9% to $18.75.
National Oilwell Varco signed contracts valued at about $1.5 billion to supply drilling equipment packages for seven drillships to Brazil's Estaleiro Atlantico Sul.
Shares were popping 2.2% to $68.27.
Time Warner Cable is in advanced talks to buy Insight Communications for about $3 billion, Bloomberg reported, citing people with knowledge of the matter.
Shares were up 0.7% to $65.98.
Wal-Mart is expected to report second-quarter profit of $1.08 a share Tuesday vs. 97 cents a share a year ago.
The discount giant, which prides itself on its motto of "Save Money, Live Better," appears to have lost its price perception among consumers. According to a survey conducted by WSL Strategic Retail, 86% of Wal-Mart shoppers no longer believe that the retailer has the lowest prices.
Shares were up 0.4% to $49.95.
Offshore contract drilling services company Transocean reached a deal to buy Aker Drilling, a Norwegian drilling contractor, for $1.43 billion.
Shares were flat at $55.63.
ConAgra has implied it could accelerate its pursuit of Ralcorp, after the U.S. food group suffered a third rejection by its quarry of its proposal -- improved to $5.2 billion -- to buy the company.
Investment management firm Relational Investors increased its stake in life insurer MetLife by about 9.4 million shares to11.6 million shares.
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