Toyota Motor Corp. (TM: Quote) is rising nearly 3 percent to $80.30. The company announced the signing of a memorandum of understanding with BMW AG (BAMXY.PK, BAMXF.PK, BMW.L) aimed at a long-term strategic collaboration in four fields, that includes joint development of a fuel cell system, joint development of architecture and components for a future sports vehicle, collaboration on powertrain electrification and joint research and development on lightweight technologies.
Fushi Copperweld, Inc. (FSIN: Quote) is rising more than 12 percent to $8.81. The company has agreed to be taken private at a price of $9.50 per share in cash. The transaction is currently expected to close in the fourth quarter of 2012.
ValueClick, Inc. (VCLK: Quote) is up over 7 percent to $15.20. The company announced that it currently anticipates second quarter revenue at the high-end of its previously-issued guidance range.
Constellation Brands, Inc. (STZ: Quote) is up over 13 percent to $24.70. The company's first quarter profit improved from the year-ago quarter and comparable earnings per share were above Wall Street view. The company also reaffirmed its fiscal 2013 outlook. The company also agreed with Anheuser-Busch InBev to purchase the remaining 50 percent interest in Crown Imports LLC, a 50-50 joint venture with Grupo Modelo.
BlackBerry maker Research In Motion Ltd. (RIMM: Quote) is down 15 percent to $7.74. The company slipped to a loss in its first quarter. Revenues plunged 43 percent and also were sharply below consensus. In addition, the company said it expects next several quarters to be very challenging for its business amid increasing competitive environment and lower handset volumes. The company also announced job cuts totaling 5,000 positions.
Nike Inc. (NKE: Quote) is falling 11 percent to $86.25. The company's fourth quarter profit declined from the previous year period and also missed the consensus estimate. Revenue improved 12 percent, but were below Wall Street view.
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by RTT Staff Writer
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