video transcript

Clearwire soaring 10% in premarket today as they takeover battle for the wireless provider begins. Let's kick off their morning call for Wednesday. Dishes billionaire chairman Charlie -- draw a lot of attention at CES Las Vegas on Tuesday. He announced at 2.2 eight billion dollar offer for Clearwire that trumps Sprint's 2.2 billion dollar bid. Some analysts see this is a sign that Gergen is serious about entering the mobile broadband market. Others speculate dishes amassed a massing spectrum and buying a commodity is more and more people watch video on mobile and tablets. Dishes big -- 50% stake in Clearwire. Shares the company closed at 35 dollars yesterday shares as sprint down 3.5 percent in the premarket. From wire lesson to customers looking to pay less the Wall Street Journal reporting that apple is working on a lower and iPhone. The shift in strategy part of an effort to claw back market share and introduce new people to the brand. The less expensive iPhone would be made of more plastic components as opposed to -- and parts found in the iPhone 5. To give you an idea of what's already out there the cheapest iPhone not tied to a carrier cost 450 bucks. And the low and android phones go for about 150 that's a huge difference. Shares of apple trading near 525. Dollars in the premarket. Turning to Microsoft a top executives saying it's sold sixty million licenses upgrades for the new windows eight operating system. A solid number but unspectacular start from Microsoft's new flagship product. Turning to earnings Alcoa posted a profit in the fourth quarter in line with estimates. The company is optimistic that demand for aluminum will continue to grow into -- thirteen. Boosted by strong sales and aerospace and construction. But CEO Klaus -- -- balancing out the good news. Saying that the budget debate could potentially have a negative impact especially if we see cuts in defense spending. Alcoa shares up 2% in the premarket. RBC raising its price target on the stock this morning to ten bucks for 950. Also on our radar results from Constellation Brands which if you didn't know is the largest branded wine company in the world with names like Robert Mondavi. It's expected to post earnings per share a 54 cents according to start line. Let's close out a look at US stock futures are pointing to a higher open on Wall Street after a two day decline. That's it here Wednesday morning call follow us on Twitter at Reuters Insider and check out our energy tip check out at Reuters dot com slash writers TV. I'm Lisa Bernhard this is way.