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Stocks are poised to continue this week's upward momentum, thanks to a solid quarterly earnings report from blue chip The Home Depot, Inc. (NYSE:HD). Elsewhere on the corporate front, here are some additional names to watch today.
- Australia-based BHP Billiton Limited (ADR) (NYSE:BHP) plans to spin off several of its assets into a new company, which will allow BHP to cut costs and improve productivity in its remaining operations. The spinoff is still awaiting regulatory and shareholder approval. (The New York Times)
- Microsoft Corporation's (NASDAQ:MSFT) cloud-computing service Azure experienced a roughly five-hour-long global outage on Monday. This is the second time this month Azure operations were disrupted, with the outage affecting major components across multiple data centers. (Bloomberg)
- Julian R. Geiger will rejoin Aeropostale Inc (NYSE:ARO) as CEO, effective immediately. Geiger previously served as chairman and CEO of ARO from 1998-2010, and will be replacing Thomas Johnson. The company also updated its second-quarter outlook, with full results due out after Thursday's close. (AP, via ABC News)
- Skilled Healthcare Group, Inc. (NYSE:SKH) announced yesterday it will combine forces with Genesis HealthCare -- an all-stock transaction that was unanimously approved by both boards. The merger is expected to close in early 2015, with collective operations assuming the Genesis Healthcare name. (MarketWatch)
- As widely expected, Sprint Corporation (NYSE:S) on Monday unveiled the details of its new lower-price plan, in an attempt to compete with other telecom concerns such as AT&T Inc (NYSE:T) and T-Mobile US Inc (NYSE:TMUS). Following the announcement, Sprint's CEO Marcelo Claure said, "We want customers to think twice before choosing another wireless carrier." (USA Today)
- On the earnings front, HD, Dick's Sporting Goods Inc (NYSE:DKS), Medtronic, Inc. (NYSE:MDT), and Urban Outfitters, Inc. (NASDAQ:URBN) all reported. (USA Today; MSN; MarketWatch)