Stocks to Watch: Dish, Clearwire, Alcoa
Clearwire said Tuesday it would discuss the unsolicited offer with Dish. But Sprint, which owns 51% of Clearwire, said it would have to sign off on Dish's offer and that it has no plans to do that.
Sprint reached a deal in December to buy the 49% of Clearwire that it didn't own for $2.90 a share. It later raised the offer to $2.97 a share.
Aluminum giant Alcoa (AA) posted fourth-quarter revenue on Tuesday that topped analysts' expectations and it said it expected to be in good position for 2013 on global demand growth in the metal.
Fourth-quarter earnings at Alcoa were 6 cents a share on revenue of $5.9 billion. Analysts were expecting profit of 6 cents a share on revenue of $5.6 billion.
"We overcame volatile metal prices and global economic instability to deliver on our targets for the fourth year in a row. We enter 2013 in a strong position to maximize profitable growth," said Klaus Kleinfeld, chief executive officer of Alcoa, in a statement.
The company said it expected demand growth of 7%, which would be up from 6% in 2012.
Apple(AAPL) is developing a low-cost iPhone for emerging markets for 2013, according to reports. It also was reported that Apple CEO Tim Cook made his second visit to China in less than a year and met with the country's ministry of industry and information technology.
Wine company Constellation Brands(STZ) is expected by analysts Wednesday to report third-quarter earnings of 55 cents a share on revenue of $751.8 million.
Seagate Technology(STX) , the disk drive maker, on Tuesday raised revenue guidance for the fiscal second quarter ended Dec. 28.
Seagate said it expects quarterly revenue of at least $3.6 billion, higher than its previous forecast of about $3.5 billion.
MGM Resorts(MGM) said its China arm received official approval Wednesday for its new $2.5 billion casino-resort in Macau.
-- Written by Joseph Woelfel
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