Stocks to watch: News Corp., Facebook
The media company is reportedly considering splitting into two companies, and the social giant named another board member.
News Corp. (NWSA) is considering splitting into two companies, separating its smaller publishing business from its entertainment businesses, The Wall Street Journal reported, citing people familiar with the situation. The split would carve off such assets as 20th Century Fox film studio, Fox broadcast network and Fox News channel from News Corp.'s newspapers, book publishing assets and education businesses. News Corp. owns the Journal.
A final decision on the split hasn't been made, according to the Journal. News Corp. Chairman Rupert Murdoch has previously opposed such a move, but has recently warmed to the idea, said one person familiar with the situation.
Facebook (FB) named Sheryl Sandberg, the social-networking company's No. 2 executive, to its board. Sandberg, Facebook's chief operating officer, is the eighth member of the company's board and its first woman.
LDK Solar (LDK) posted a loss in the first quarter Tuesday of $135.8 million, or 1.46 cents per American depository share, a reversal from year-earlier profit of $135.4 million, or 95 cents per ADS. Net sales fell 74% to $200 million from $766.3 million a year earlier. Analysts were expecting LDK Solar to post a loss of $1.14 per ADS on revenue of $225.5 million, according to Thomson Reuters.
Apollo Group (APOL), the operator of the University of Phoenix, reported fiscal third-quarter adjusted earnings Monday of $1.20 a share on revenue of $1.13 billion, beating analysts' estimates of a profit of 97 cents a share on revenue of $1.12 billion. Apollo forecast revenue of $4.2 billion to $4.3 billion for fiscal 2012.
H&R Block (HRB) is seen posting fourth-quarter earnings Tuesday of $2.05 a share.
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Puma Biotechnology shares soar after it says it wants to file for marketing approval of an experimental breast cancer drug.
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