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Early Movers: BAC, BLK, UNH & More

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Published: Thursday, 17 Jan 2013 | 7:55 AM ET
By: Peter Schacknow

Check out which companies are making headlines before the bell on Thursday:

Bank of America - The bank earned $0.03 per share, one cent above estimates, while revenue exceeded consensus when previously announced charges are added back. Bank of America said its capital and liquidity levels are solid.

BlackRock - The investment firm reported fourth-quarter profit of $3.96 per share, excluding certain items, above estimates of $3.73. Earnings were driven by strong demand for its exchange-traded funds, and it also increased its dividend by 12 percent.

UnitedHealth - The health insurer reported fourth-quarter profit of $1.20 per share, one cent above estimates, with revenue also beating consensus. However, its 2013 outlook is below Street estimates.

Citigroup - The bank reported quarterly profit of $0.69 per share, excluding certain items, well below estimates of $0.96. Legal costs were among the unexpected items that took profits below estimates. Revenue was also slightly below consensus.


Cisco Systems - JPMorgan Chase has downgraded Cisco to "underweight" from "neutral" on a valuation basis, saying the shares are vulnerable after a recent runup.

EBay - EBay reported fourth-quarter profit of $0.70 per share, one cent above estimates. However, eBay's current quarter earnings per share (EPS) and revenue forecasts fall below estimates. Many analysts had expected a more upbeat forecast given a boom in mobile shopping and a substantial increase in the number of transactions processed by the company's PayPal unit.

Boeing - The Federal Aviation Administration has grounded Boeing's 787 jets while a battery issue is being investigated. Airlines in other countries are grounding the jets as well pending the outcome.

Oneok - Oneok has increased its quarterly dividend by three cents per share to $0.36. The energy producer's dividend is payable Feb. 14 to shareholders of record as of Jan. 31.

Williams-Sonoma - The retailer reports a 4.8 percent increase in same-store holiday season sales, and it is also reiterating its prior fourth-quarter and fiscal-year guidance.

CBS - CBS is seeking to divest its outdoor ad businesses in Europe and Asia, and will convert its Americas outdoor division into a real estate investment trust. This comes after the company announced in November that it was considering options for those units.

Herbalife - Investor Carl Icahn has reportedly joined the battle over Herbalife by taking a small stake, according to The Wall Street Journal. Herbalife has come under intense focus since investor Bill Ackman announced a 20 million share short bet against Herbalife, calling the company "a pyramid scheme."

Rio Tinto - The mining giant has fired Chief Executive Tom Albanese, and said it was taking a $14 billion writedown of the value of Albanese's two biggest acquisitions.

Kellogg - The cereal maker is being sued by a subsidiary of Mondelez International, the recent Kraft Foods spin-off, which claims Kellogg is making improper use of its patents for packaging in its Keebler and Sandies cookies.

K-Swiss - The footwear maker has agreed to be acquired by South Korean retailer E-Land World for $4.75 per share, or about $170 million in cash. That's a nearly 50 percent premium to Wednesday's closing price for K-Swiss shareholders.


(Read More: See CNBC's Market Insider Blog)

—By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com


 Print
These are the stocks posting the largest moves before the bell.
  Price   Change %Change
BAC ---
BLK ---
UNH ---
CSCO ---
EBAY ---
BA ---
OKE ---
WSM ---
CBS ---
HLF ---
RIO ---
MDLZ ---
KRFT ---
C ---
KSWS ---

   
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  • Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

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