Shares of Yahoo! Inc. (YHOO) are lower by 1.23% to $36.06 in morning trading on Monday as the struggling internet giant is seeing the number of prospective suitors make an early exit, according to reports, leaving Verizon Communications (VZ) as the lead bidder for the former Internet darling ahead of today’s deadline for preliminary bids. The Wall Street Journal reported Monday morning that a number of potential bidders have decided not to participate, pointing to Alphabet (GOOG), Time (TIME) , Comcast (CMCSA) , AT&T (T) and IAC/InterActiveCorp. (IACI)
Netflix, Inc. (NFLX) shares plunged 2.09% to $109.18 in early trading on news that e-commerce giant Amazon.com (AMZN) will offer its own streaming service, “Prime Video,” making it a more direct competitor withe the streaming video pioneer. Amazon’s service will cost a dollar less per month than that of Netfix.
Shares of Taser International Inc. (TASR) are down $0.72, or 3.76%, at $18.42, on reports of LAPD body camera initiative plan to equip nearly every Los Angeles police officer with a body camera by the end of 2016 is being postponed due to cost.
Calumet Specialty Products (CLMT) is seeing a big move Monday, as the company’s shares are plunging in early trading by over 46%. On Friday Calumet announced that it was suspending its $2.74 annual dividend and that it was adding debt to stay afloat.
Morgan Stanley (MS) reported first- quarter 2016 EPS of $0.55 before the opening bell Monday, compared to the consensus estimate of $0.47. Revenues declined 21.3% from last year to $7.79 billion. Analysts expected revenues of $7.63 billion. The stock is currently flat at $25.75 on 9.61 million shares.
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