Merck, which has disclosed that it is exploring options for the business, already has received preliminary offers for it, the people told the newspaper. Merck officials will begin meeting with possible buyers next week, and final bids will likely be due late next month, one of the people said.
Feb. 13 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Thursday, Feb. 13:
1.-- U.S. stock futures were pointing to a lower start for Wall Street on Thursday ahead of retail sales data.
European shares were slipping. Asian shares ended Thursday's session with losses. Japan's Nikkei 225 index declined 1.8%
2.-- The economic calendar in the U.S. on Thursday includes initial weekly jobless claims at 8:30 a.m. EST, retail sales for January at 8:30 a.m., and business inventories for December at 10 a.m.
3.-- U.S. stocks on Wednesday closed mixed, after warnings from a Federal Reserve member over the risk of asset-price bubbles offset better-than-expected data from China.
The S&P 500 was broadly flat at 1,819.26 while the Dow Jones Industrial Average closed off 0.19% to 15,963.94. The Nasdaq gained 0.24% to 4,201.29.
The new company would be by far the largest cable provider in the nation with more than 33 million subscribers, and is certain to face a tough review from the Federal Communications Commission, according to CNBC.
Time Warner Cable shares rose 11.2% in premarket trading to $150.49. Comcast shares fell 1.8% to $54.25.
5.-- Network equipment maker Cisco
The San Jose, Calif.-based company reported revenue of $11.2 billion, down from $12.1 billion in the prior year's quarter, but above analysts' estimates of $11.03 billion.
Excluding items, Cisco earned $2.5 billion, or 47 cents a share, in the second quarter, down from $2.7 billion, or 51 cents a share, in the year-earlier quarter. Analysts were looking for earnings of 46 cents a share.
For its fiscal third quarter, Cisco predicted a year-over-year revenue decline of 6% to 8%, although CEO John Chambers noted that this was an improvement from the firm's second-quarter guidance, which forecast an 8% to 10% fall in sales from the year-earlier period.
The stock fell 3.9% in premarket trading to $21.97.
6.-- A sale of Merck's