Early Movers: KO, KORS, FOSL & More
Check out which companies are making headlines before the bell on Tuesday:
Coca-Cola - The beverage giant reported fourth-quarter profit of $0.45 per share, excluding certain items, one cent above estimates. Revenue was slightly short of estimates, as was worldwide case volume. But the company said performance was solid given worldwide economic uncertainty.
Michael Kors - The specialty retailer swamped estimates by earning $0.64 per share for its third quarter, compared to consensus of $0.41. Revenue was also above estimates, as same-store sales surged and the company added new stores.
Fossil - The fashion accessories retailer earned $2.27 per share for the fourth quarter, one cent above estimates, with revenue also beating analysts' consensus. Earnings were driven by double-digit revenue growth in both North America and Asia.
Apple - CEO Tim Cook will speak at the Goldman Sachs Technology Conference in San Francisco Tuesday. Cook has a busy day ahead, as he'll also be present at the State of the Union address in Washington, D.C., tonight.
HCA - HCA is announcing a secondary stock offering, with major shareholders in the hospital operator planning a sale of 50 million shares. Those stockholders will receive all the proceeds from the offering, and none of the shares are being sold by either management or the company.
Lions Gate Entertainment - The company reported third-quarter profit of $0.27 per share, 10 cents above estimates, with revenue also beating consensus. The movie studio's results were helped by a strong showing for the final film in the "Twilight" series.
Masco - Masco earned $0.04 per share for the fourth quarter, compared to analysts' consensus forecast of a $0.01 per share loss. The building products company said its results were helped by a strong North American market, and that it expects strong growth in new home construction this year.
Facebook - Facebook shares have been downgraded to "market perform" from "outperform" at Bernstein, with the firm saying that potential upside for the stock from this point is uncertain, while the downside risk is large.
Bank of New York Mellon - Bank of New York will take an $850 million charge against earnings, following an unfavorable court decision. The Internal Revenue Service had sought to invalidate a $900 million tax benefit stemming from a $1.5 billion loan from Barclays, saying the transactions lacked "economic substance," and the tax court agreed. The bank said it will appeal the decision.
Dun & Bradstreet - The company reported fourth-quarter profit of $2.38 per share, excluding certain items, nine cents below estimates. Revenue for the business information provider also fell short, although it did raise its quarterly dividend to $0.40 per share from $0.38. The company said 2012 was a challenging year, primarily due to weakness in North America
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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