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EDITOR
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What's Shaking: Thursday's Early Movers
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CNBC.com Writer
Take a look at some of Thursday morning's early movers:
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Bank of America [BAC
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] – The banking giant met earnings expectations and topped revenue estimates.
Morgan Stanley [MS
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] – The investment bank posted a decline in revenue as the firm lost money in the fourth quarter due to a big charge related to a legal settlement.
Apple [AAPL
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] – The iPhone maker topped $400 billion in market cap for the first time.
Kodak – The camera and film maker filed for bankruptcy protection and said it received a $950 million, 18-month credit facility from Citigroup to keep it going. Meanwhile, NYSE announced that Kodak's common stock (ticker symbol: EK) should be suspended immediately.
Yahoo [YHOO
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] – The search-engine firm instituted a hiring freeze across the company and is considering a hiring cut, according to sources. The company is expected to post earnings next Tuesday.
EBay [EBAY
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] - The online auction company posted results that beat estimates, but outlook was mixed.
Walgreens [WAG
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]– Goldman Sachs reduced its rating on the drug store chain to “neutral” from “buy” and cut its price target to $35 from $38.
Ratings of homebuilders including D.R. Horton [DHI
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], Lennar [LEN
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] and Toll Brothers [TOL
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] were slashed to “neutral” from “buy,” while KBHome [KBH
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] and Meritage Homes [MTH
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] were cut to “sell” from “neutral” by UBS. This comes a day after homebuilders surged following a better-than-expected housing market report.
JPMorgan cut its price target on airline companies Delta [DAL
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], JetBlue [JBLU
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] and United Continental [UAL
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] to $16 from $17.50, to $8.50 from $9 and to $43.50 from $45, respectively.
BP [BP
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] – The oil giant will likely agree to pay the U.S. Department of Justice between $20 billion to $25 billion next month to settle all civil and criminal charges around the oil spill in 2010.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
