Good morning, welcome to the Financial News Network, your source for the latest business news. Here's a few things to watch for in the financial world today June 27.
Google (NASDAQ:GOOG) shaking up the tech world this morning as rumors swirl before its I/O developer conference. The big news: the debut of a new 7-inch tablet. The device, which some are already calling the "GPad" or the "Googlet", will be a completely Google-branded tablet, the first of its kind. The tech-giant is also set to announce new features to their Android operating system and its Chrome web browser. Depending on Google's reception to investors, its stock could go either way, but it is definitely something to keep an eye on this trading session.
Electronics retailer Best Buy (NYSE:BBY) might make an interesting move. Its founder Richard Schulze is reportedly considering a bid to take the company private. According to the New York Times, Schulze is already in talks with bankers from Credit Suisse to go over options. The move comes in response to the retailer struggling in recent quarters. Some reports say that if Schulze can't take the company private, he would consider selling his 20.1% stake in Best Buy. We will continue to monitor this stock to see where it goes once a decision is made.
Finally, Monsanto (NYSE:MON) reported its third quarter earnings this morning, beating estimates. The company posted an EPS of $1.63 a share, better than analyst expectations of $1.60. Revenue for the quarter rose 17% to $4.2 billion on sales gains and positive growth. The company also reaffirmed its full-year guidance, forecasting an EPS range of $3.65 to $3.70 per share. This will definitely be a stock to watch today, it is already up 2%.
Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world check us out at fnno.com or follow us on twitter @FNNOnline. I'm Chuck Pierce and thanks for watching.