Early Movers: LULU, SNE, S, BA, GM & More
Check out which companies are making headlines before the bell on Tuesday:
Lululemon — The apparel maker reported first quarter profit of 32 cents per share, two cents above estimates, with revenues also beating forecasts, and its current quarter projections are also above consensus. The company also announced CEO Christine Day will be stepping down as soon as a successor is found. She released a statement saying that now is the right time for a CEO who will drive the next phase of the company's development.
Texas Instruments — TI narrowed its current quarter revenue projection in its mid-quarter update, with the chipmaker now expecting sales of $2.99 billion to $3.11 billion, compared to the prior range of $2.93 billion to $3.17 billion. The company calls the current environment "very encouraging".
Sprint Nextel— Japan's Softbank increased its bid for Sprint to $21.6 billion for 78 percent of the company, compared to the prior offer of $20.1 billion for 70 percent. It's also increasing the cash portion of its proposed deal, as it tries to counter a competing bid from Dish Network (DISH) for Sprint.
Dole Food — Chairman/CEO David Murdock offered to buy the 60 percent of Dole that he doesn't already own for $12 per share, an 18 percent premium over yesterday's close.
General Mills — General Mills increased its fiscal 2013 earnings per share (EPS) guidance to $2.68 - $2.69; still, those figures are one cent below current Wall Street consensus. The food producer had previously expected earnings of $2.66 to $2.68 per share.
Corinthian Colleges — Corinthian is being investigated by the SEC, which has subpoenaed documents from the for-profit education company. The probe is looking into issues surrounding student loans, recruitment, and attendance, among other things. In a news release, Corinthian said it intended to cooperate with the SEC in its investigation.
Diamond Foods — Diamond earned 5 cents per share, excluding certain items, for its third quarter, surprising analysts who had expected a 17 cent per share loss. But Diamond also restated its second quarter results to show a 37 cent per share, compared to the originally reported 43 cent per share profit, due to a calculation error.
Sony —Sony will price its upcoming PlayStation 4 at $399, $100 dollars less than the competing Xbox One from Microsoft (MSFT). The announcement was made during a presentation at the Electronic Entertainment Expo in Los Angeles, the gaming industry's annual trade show.
Boeing — Boeing upgraded its 20-year demand forecast for jets, now forecasting airlines will buy 35,280 jets worth $4.8 trillion over that time period. That's a 3.8 percent increase from Boeing's prior forecast.
Dell — Former Hewlett-Packard CEO and current Oracle President Mark Hurd is not interested in becoming Dell CEO, according to AllThingsD. Hurd was set to have been on a list of preferred candidates drawn up by investor Carl Icahn and Southeastern Asset Management, if their bid to gain control of Dell is successful.
General Motors —The automaker is cutting the price of its Chevy Volt electric car by $4,000 in an effort to boost sales. With tax incentives and the new pricing, a 2013 Volt could cost as little as $28,500.
Saks — Southeastern Asset Management cut its stake in the retailer to 11.4 percent from 19.2 percent, according to an SEC filing.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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