<TABLE cellSpacing=0 cellPadding=2 width="100%" bgColor=white border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:js="http://cbs.markewatch.com/xsl"><TBODY><TR><TD width="100%">Shares of SAP (SAP: news, chart, profile) and Nokia (NOK: news, chart, profile) rallied in the their home markets after SAP, the largest business software maker, posted better-than-expected March quarter license sales. Nokia, the leading mobile phone maker, posted an 18% surge in quarterly profits and raised its outlook for the mobile market this year.
The solid Nokia quarter follows an update overnight from rival Motorola (MOT: news, chart, profile) , which said sales rose 10%. Motorola shares rose 3% in the late trade to $15.45. Citigroup Smith Barney upgraded the stock to buy from hold on Thursday.
The broker cited its "increasing confidence in Motorola's ability to take share with the next replacement cycle."
SAP, an Oracle Corp. (ORCL: news, chart, profile) rival, was up 3.7% in Germany; where shares of Nokia surged 5%. London dealers said Nokia ADRs were bid up at $16.16, indicating a jump from the $15.34 close on Wednesday.
The Dow industrials futures were up 56 points to 10,076 and the Nasdaq futures were up 12.50 points to 1,427 ahead of 7 a.m. eastern.
Deals were also supporting the market. Time Warner (TWX: news, chart, profile) and Comcast (CMCSK: news, chart, profile) agreed to buy Adelphia with the cash component at $12.7 billion.
In another major consolidation in the alcohol industry, Fortune Brands (FO: news, chart, profile) and Pernod Ricard said early Thursday they have reached an agreement for a $14 billion buyout of Allied Domecq (AED: news, chart, profile) . See more
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Office Depot (ODP: news, chart, profile) , the office supplies retailer, said net earnings in the first quarter were $115 million, or 37 cents a share, unchanged on the year-ago period although operating profit eased 5% to $165 million. Sales rose 3% to $3.7 billion. North American retail sales were up 6% with same-store sales up 1%.
Whirlpool Corp. (WHR: news, chart, profile) reported first-quarter net earnings of $86 million, or $1.26 a share, down from $101 million, or $1.43 a share, earned in the 2004 period. The appliance manufacturer cited "significantly higher" costs for raw materials and oil, offset in part by price increases. Quarterly sales rose 6.7%, totaling $3.21 billion.
Three Chinese airlines signed contracts for the purchase of 30 Airbus aircraft, Airbus said in a statement Thursday. Twenty had been previously announced but not finalized. Airbus, the Boeing (BA: news, chart, profile) rival, is majority owned by defense contractor EADS (FR:005730: news, chart, profile) and BAE Systems (UK:BA: news, chart, profile) has a minority stake. Raffarin reaffirmed the French commitment to lifting the EU arms embargo pm China while on the trip, AFX News reported from Beijing.
Telecom equipment testing firm Spirent (SPM: news, chart, profile) warned Thursday that first-half operating profits will be "significantly" worse than expected, blaming a delay in capital spending on leased lines and DSL businesses and a larger-than-expected shift in customers' investment toward next-generation networks and IP service deployments, as well as a delay in monitoring equipment due to merger activity. Shares dropped in London.
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Emily Church is London bureau chief of MarketWatch</TD></TR></TBODY></TABLE>
The solid Nokia quarter follows an update overnight from rival Motorola (MOT: news, chart, profile) , which said sales rose 10%. Motorola shares rose 3% in the late trade to $15.45. Citigroup Smith Barney upgraded the stock to buy from hold on Thursday.
The broker cited its "increasing confidence in Motorola's ability to take share with the next replacement cycle."
SAP, an Oracle Corp. (ORCL: news, chart, profile) rival, was up 3.7% in Germany; where shares of Nokia surged 5%. London dealers said Nokia ADRs were bid up at $16.16, indicating a jump from the $15.34 close on Wednesday.
The Dow industrials futures were up 56 points to 10,076 and the Nasdaq futures were up 12.50 points to 1,427 ahead of 7 a.m. eastern.
Deals were also supporting the market. Time Warner (TWX: news, chart, profile) and Comcast (CMCSK: news, chart, profile) agreed to buy Adelphia with the cash component at $12.7 billion.
In another major consolidation in the alcohol industry, Fortune Brands (FO: news, chart, profile) and Pernod Ricard said early Thursday they have reached an agreement for a $14 billion buyout of Allied Domecq (AED: news, chart, profile) . See more
Focus stocks
Office Depot (ODP: news, chart, profile) , the office supplies retailer, said net earnings in the first quarter were $115 million, or 37 cents a share, unchanged on the year-ago period although operating profit eased 5% to $165 million. Sales rose 3% to $3.7 billion. North American retail sales were up 6% with same-store sales up 1%.
Whirlpool Corp. (WHR: news, chart, profile) reported first-quarter net earnings of $86 million, or $1.26 a share, down from $101 million, or $1.43 a share, earned in the 2004 period. The appliance manufacturer cited "significantly higher" costs for raw materials and oil, offset in part by price increases. Quarterly sales rose 6.7%, totaling $3.21 billion.
Three Chinese airlines signed contracts for the purchase of 30 Airbus aircraft, Airbus said in a statement Thursday. Twenty had been previously announced but not finalized. Airbus, the Boeing (BA: news, chart, profile) rival, is majority owned by defense contractor EADS (FR:005730: news, chart, profile) and BAE Systems (UK:BA: news, chart, profile) has a minority stake. Raffarin reaffirmed the French commitment to lifting the EU arms embargo pm China while on the trip, AFX News reported from Beijing.
Telecom equipment testing firm Spirent (SPM: news, chart, profile) warned Thursday that first-half operating profits will be "significantly" worse than expected, blaming a delay in capital spending on leased lines and DSL businesses and a larger-than-expected shift in customers' investment toward next-generation networks and IP service deployments, as well as a delay in monitoring equipment due to merger activity. Shares dropped in London.
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Emily Church is London bureau chief of MarketWatch</TD></TR></TBODY></TABLE>
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