What's Shaking: Thursday's Early Movers
Senior Producer, CNBC
Take a look at some of Thursday morning's early movers:
Merck – The drug maker reported fourth quarter profit of 97 cents per share, excluding certain items, two cents above estimates.
Qualcomm - The company beat Street estimates with its fiscal first quarter profits, earning 97 cents a share, seven cents above consensus with its second quarter outlook also above estimates.
Dow Chemical – The chemical giant reported fourth quarter profit of 25 cents per share, excluding certain items, five cents below estimates. CEO Andrew Liveris says the company was impacted by a deteriorating macroeconomic environment as it maintained financial discipline.
Viacom - Viacom earned $1.05 per share for the fourth quarter, a penny above estimates, with revenues essentially in line with consensus.
Electronic Arts – EA beat estimates by 6 cents with fiscal third quarter EPS of 99 cents per share, but the largest videogame maker also issued a disappointing current quarter outlook.
Zynga , LinkedIn – Recent Tech IPOs will be in the spotlight today, following Facebook’s widely anticipated IPO filing yesterday afternoon.
Costco – The warehouse retailer reported a January same-store sales gain of 8%, compared to analyst estimates of a 6.1% rise.
Target - The retailer reported a January same-store sales increase of 4.3%, more than twice what analysts had estimated.
Macy’s – The retailer says chief stores officer Ron Klein will retire at the end of March. He’ll be replaced by chief marketing officer Peter Sachse. In addition, Macy's January comparable store sales were up 2.4%, below estimate of a 3.5% increase.
Abercrombie & Fitch - The retailer is forecasting fourth quarter profit of $1.10 to $1.15 per share, well below analyst estimates of $1.54. Margin pressures prompted by markdowns get the bulk of the blame.
Ann Inc. - The parent of Ann Taylor is cutting its sales forecast, and says it's "disappointed" with its most recent results. It now sees fiscal Q4 sales of $566 million, compared to analyst estimates of $578 million.
Cigna – The insurance company reported fourth quarter profit of $1.11 per share, eight cents below estimates, and also forecast fiscal 2012 EPS below analyst forecasts.
AstraZeneca – The drug maker will be cutting 7,300 jobs and warned of lower profits as patents on key drugs expire, and governments in Europe and the U.S. put a squeeze on drug prices.
Cardinal Health - The drug wholesaler has raised its 2012 EPS forecast to $3.10 - $3.20 per share, up from its prior $3.04 - $3.19. Current analysts estimates are at $3.19.
Mastercard - The credit card issuer reported fourth quarter earnings of $4.03 per share, excluding certain items, above estimates of $3.91.
Starwood Hotels - The hotel operator reported better-than-expected profit of 71 cents per share, excluding certain items. Analysts had forecast EPS of 57 cents. Starwood also forecast current quarter earnings above Street estimates.
Kellogg - The cereal maker reported fourth quarter profit of 64 cents per share, two cents above estimates, with revenues also beating analyst forecasts.
Chipotle Mexican Grill – The restaurant operator fell short of estimates by two cents with fourth quarter profits of $1.81 per share, and also disappointed Wall Street with its first quarter sales forecast.
Green Mountain Coffee –The company swamped estimates by reporting Q1 EPS of $0.60 compared to estimates of $0.36. Investors are positive on the stock despite a current quarter forecast that fell below analyst estimates.
SandRidge Energy – The company is buying privately-held Dynamic Offshore Resources for nearly $1.3 billion in cash and stock.
Sony - The electronics giant is reporting a wider-than-expected third quarter loss and warns it will see a bigger fiscal year loss as well, citing a weak TV business and a stronger yen.
Cummins - The engine maker registered a big beat for Q4, earnings $2.56 per share compared to estimates of $2.23. Revenues also beat consensus.
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