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With the recent hype about the Google (NASDAQ: GOOG) phone, one has to wonder how the Apple (NASDAQ: AAPL) iPhone will be affected, if at all, since Google doesn't have the same hardware mystic about it Apple does? It is, however, abundantly clear that the iPhone and Apple's relationship with AT&T (NYSE: T) have affected Verizon Wireless (NYSE: VZ) and the possible deals Google is looking to sign with the representative telco it chooses.

Citigroup Inc (NYSE: C) said it has signed an agreement to acquire all of Nikko Cordial Corp, paying about $4.6 billion for the 32% it does not already own. Citigroup spent about $8 billion to buy 68% of Nikko earlier this year.

Dell Inc. (NASDAQ: DELL) shares are 2.35% higher in premarket trading after the company yesterday announced it restated earnings resulting in reduced profits by $92 million. This finally takes Dell out of its accounting mess.

As expected, the focus is now on Ford Motor Co. (NYSE: F) as contract talks between it and the United Auto Workers union broke off in the early hours of Wednesday morning after a marathon session that began Tuesday morning. The negotiations for a new four-year contract were expected to resume later Wednesday.

MasterCard Inc (NYSE: MA) reported rising quarterly earnings rose, helped by the partial sale of an investment in Brazil. MA reported earnings of $1.80 per share, excluding $0.51 from the partial sale of the co's investment in Redecard S.A. in Brazil. This is far better than Reuters Estimates consensus of $1.42. Revenues rose 20.1% yoy to $1.08 billion, also beating the the $1.03 billion estimates. MA shares are surging over 7% in premarket trading to $168.50.

Google (NASDAQ: GOOG) will also launch OpenSocial Thursday to try and compete with Facebook. OpenSocial is a distribution network for social networking applications.

Following Sirius (NASDAQ: SIRI) results yesterday, S&P maintains its hold position and $3.50 target price on the stock. Also, Glass, Lewis & Co., one of the nation's leading independent proxy advisory firms, has recommended that XM (NASDAQ: XMSR) and SIRIUS stockholders vote "FOR" the companies' merger proposals. Both stocks are recovering nicely in premarket action from yesterday's selloff.

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