Shares of Clear Channel Communications Inc. may trade actively on Thursday, following news that the company and the private equity firms seeking to close a $19.5 billion buyout of the company have sued their lenders.
The radio and billboard company filed suit Wednesday in Texas and said the five banks who promised to finance the deal are reneging.
Meanwhile, Oracle Corp., which makes business software, posted a third-quarter profit that matched the average estimate of analysts polled by Thomson Financial, but posted sales below expectations.
And Paychex Inc., which provides payroll and human-resources services, posted a 13 percent higher fiscal third-quarter profit on higher service revenue.
Terms & Conditions
RSS Headlines
Fool UK