Stocks to Watch: Apple, UPS
NEW YORK -- Apple will address Monday what it plans to do with its massive cash hoard, estimated at close to $100 billion.
The company published a brief investor alert on its Web site Sunday saying a conference call at 9 a.m. EDT will "announce the outcome of the Company's discussions concerning its cash balance."
Apple CEO Tim Cook and Chief Financial Officer Peter Oppenheimer will host the call.Many investors expect the tech giant to begin issuing a dividend.
United Parcel Service said Monday it agreed to buy TNT Express, the second-largest express delivery company in Europe, for almost $7 billion.
UPS will buy TNT for €9.5 a share ($6.77 billion). Last month, UPS offered to buy TNT for €9 a share, or $6.4 billion, but the offer was rejected.
The acquisition is the biggest ever for UPS, which is the No. 1 delivery company in the world.
UPS said the deal would expand its reach in Europe and other markets where TNT has operations like Latin America and Asia.
LDK Solar , the Chinese solar company, lowered the top end of its revenue range for the fourth quarter to about $440 million to $450 million.
It previously expected revenue of $440 million to $520 million.
LDK said Monday gross-profit margins likely would be negative and it would record inventory writedowns and charges because of falling prices wafers and modules.
Adobe Software is expected by analysts to post fiscal first-quarter profit of 57 cents a share on revenue of $1.05 billion.
-- Written by Joseph Woelfel
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