What's Shaking: Thursday's Early Movers
Take a look at some of Thursday morning's early movers:
Bank of America – The banking giant met earnings expectations and topped revenue estimates.
Morgan Stanley – 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 – The iPhone maker topped $400 billion in market cap for the first time.
Kodak – The camera and film maker filed for bankruptcy protectionand 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 – 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 - The online auction company posted results that beat estimates, but outlook was mixed.
Walgreens– 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, Lennar and Toll Brothers were slashed to “neutral” from “buy,” while KBHome and Meritage Homes 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 , JetBlue and United Continental to $16 from $17.50, to $8.50 from $9 and to $43.50 from $45, respectively.
BP – The oil giant will likely agree to pay the U.S. Department of Justice between $20 billion to $25 billion next monthto settle all civil and criminal charges around the oil spill in 2010.
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