Early Movers: CAG, WFC, YUM & More
Check out which companies are making headlines before the bell on Tuesday:
Wells Fargo - Wells Fargo has revealed that its portion of the newly announced mortgage foreclosure settlement will be $766 million. Wells also plans to commit another $1.2 billion to foreclosure prevention action.
Yum Brands - The parent of KFC, Taco Bell, and Pizza Hut said it expects to report full-year 2012 earnings of $3.24 per share, excluding one-time items. That's below current Street estimates of $3.26 a share, with Yum citing adverse publicity from a Chinese government review of the country's poultry supply. It's also expecting China same-store sales to be down 6 percent, compared to the restaurant operator's previous forecast of a 4 percent drop, in what has been Yum's fastest-growing market. Yum's official earnings release will be out on Feb. 4.
Vodafone - Verizon Communications Chief Executive Lowell McAdam told The Wall Street Journal it would be feasible to buy out Vodafone's 45 percent stake in Verizon Wireless. London-based Vodafone has been in the process of selling stakes around the world in businesses it did not control. Some analysts say the Vodafone stake could be worth as much as $100 billion.
Apple - DigiTimes reports that Apple is planning a low-cost iPhone for emerging markets sometime in the second half of this year.
JetBlue Airways, Southwest Airlines - Deutsche Bank has upgraded Southwest to "buy" from "hold," while cutting JetBlue to "hold" from "buy." It feels Southwest is now poised to benefit from its acquisition of AirTran, while saying JetBlue's earnings growth will lag that of its peers.
Wellpoint - The health insurer says its full-year 2012 earnings per share will come in at the high end or slightly beyond its prior estimated range of $7.37 to $7.47 a share.
Sony - Sony is considering selling its battery business, though CEO Kazuo Hirai told reporters at the 2013 Consumer Electronics Show that no decision on the unit has been made as yet.
(Read More: At CES 2013, the Connected Home of the Future)
Dell - Dell Senior Vice President David Johnson has left the computer maker to take a senior position with investment firm Blackstone Group. Johnson joined Dell in 2009 from International Business Machines, which fought an unsuccessful legal battle to keep Johnson from jumping to Dell.
Yahoo - The company says it has fixed a vulnerability in its email service that has resulted in many users seeing an increase in spam and other undesirable content.
American International Group - A judge has ruled that New York State Attorney General Eric Schneiderman cannot block a $115 million settlement between AIG shareholders and a group of former executives, including former CEO Hank Greenberg. The settlement was struck in 2009, but Schneiderman has contended that the payout to those shareholders is too low.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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