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Economic concerns out of China are having negative repercussions back home, as U.S. stocks are pointed lower ahead of the open. As the week draws to a close, here are some companies to watch in trading today:
Earnings news: NVIDIA Corporation (NASDAQ:NVDA) announced a 21% drop in second-quarter profit, although earnings topped expectations. The chip company's outlook for the current quarter also exceeded current projections (MarketWatch); Nordstrom, Inc. (NYSE:JWN) reported a slight dip in per-share earnings but an increase in sales (particularly from the online division). The upscale retailer also upped its forecast for full-year earnings results (NBC News); Elsewhere in the retail world, J.C. Penney Company, Inc. (NYSE:JCP) confessed to dropping sales and posted earnings that fell short of expectations. The company also said it is unlikely to meet its previous earnings guidance for the year. (CBS News)
In the latest management shakeup, E*TRADE Financial Corporation (NASDAQ:ETFC) has sent its CEO Steven Freiberg packing -- two years into his four-year contract. The company's chairman will serve as interim CEO until another can be found. (CNBC)
The drama between Google Inc (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL) continues to fester, and now it's hitting the former where it hurts. The Federal Trade Commission has charged GOOG with a $22.5 million penalty to settle charges that the search engine violated privacy settings of Apple's Safari browser. (The Consumerist)
General Electric Company (NYSE:GE) has issued a voluntary recall for roughly 1.3 million dishwashers, noting that the machines' heating elements could present a fire hazard. The recall impacts appliances made from March 2006 through August 2009. (USA Today)
The U.S. Department of Justice is digging into allegations that Chesapeake Energy Corporation (NYSE:CHK) may have violated antitrust regulations when purchasing land in Northern Michigan. (Reuters)
International Business Machines Corp. (NYSE:IBM) is reportedly looking into buying the enterprise division from Research in Motion Limited (USA) (NASDAQ:RIMM). No official talks are underway, but the servers in question currently support BlackBerry email and device-to-device messaging services. (TechEye)
Finally, Jeremy Renner may be a twice-Oscar-nominated actor and an all-around nice guy, but he's just not Matt Damon. Forecasts for the U.S. box office of The Bourne Legacy (opening today) range from $30 million to $40 million, compared to the $69.3 million opening-weekend haul for the previous in the series, which was released in 2007. (Bloomberg)
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