Market News: Ford (NYSE:F), Novell (NYSE:NOVL), Staples (NYSE:STPL), Citigroup (NYSE:C), E-Trade (NYSE:ETFC)

Ford (NYSE:F) is reported to be expanding it’s PHEV research operations in Florida.  Progress Energy, which is based in the sunshine state, is adding the Escape-model Plug-In Hybrid Energy Vehicle (P.H.E.V, get it?) to its research program.  Ford Motor Company was yesterday crowned the largest American automaker; It’s February sales boost grabbed the company a reported 17% market share in the United States, and left both struggling Toyota (NYSE:TM) and cross-town rival General Motors (NYSE:MTLQQ) in its dust.

Citigroup Inc (NYSE:C) has announced they’re planning to sell up to $330 million worth of it’s door-to-door insurance companies shares, Primerica. According to the Financial Times, the deal is reportedly being made to private equity group Warburg Pincus for a five-percent discount on the present book value.

In FOREX news, the European Union has back Greece’s recently announced budget cuts, which lead to a brief rally of the Euro.  What’s recognized as an ambitious program to get Greece’s financial situation stabilized in time for them to join as full EU trading partners, the budget cuts and tax hikes could come just in time.

Network software developers Novell (NYSE:NOVL) saw their stock prices soar after an unsolicited buy-out offer from the private investment firm The Elliot Group, LLC.  Elliot Associates, which currently owns roughly 8% of the of the networking company, confirmed Tuesday night that it offered to buy out the developer for $5.75 per share, or $1 billion net cash.

Shares in Staples (NYSE:STPL) are expected to fall after Goldman Sachs downgraded the office supplier from “neutral”, down from “buy”.  According to StreetInsider.com, the firm removed Staples from it’s Conviction Buy List and lowered it’s price target from $27 to $26, and cited valuation and new investments as it’s reasoning.

Finally, E*Trade Financial (NYSE:ETFC) has continued to struggle in it’s search for a new CEO.  Last September, then-CEO Donald Layton announced he was moving on, and the company made famous for it’s talking baby SuperBowl ads has been stagnant ever since.  The board settled on a candidate in late January, but apparently that pick withdrew about a week ago.  What this means for the internet trading broker can’t be positive.