What's Shaking: Wednesday's Early Movers
Take a look at some of Wednesday morning's early movers:
McDonald's - The fast food giant reported a 6.7 percent increase in same-store global salesfor January, above StreetAccount estimates of a 5.9 percent increase. Sales in the individual world regions all beat estimates as well.
Time Warner – Time Warner earned 94 cents a share, excluding certain items, seven cents above estimates. The company also raised its quarterly dividend by 11 percent to 26 cents per share.
Sprint Nextel – The wireless services provider reported a quarterly loss of 35 cents per share, excluding certain items. That loss is two cents per share smaller than expected, and the company also chalked up its best quarterly subscriber addition numbers in six years.
Walt Disney - The Dow component earned 80 cents a share for its first quarter, eight cents above estimates, but revenues came in short of analyst forecasts. Disney’s media and theme park operations saw revenues increase, but the movie studio unit registered a decline.
3M - The company has raised its quarterly dividend by 7 percent to 59 cents per share. 3M has now increased its dividend for 54 consecutive years.
Wyndham Worldwide – The hotel operator earned 47 cents a share for its latest quarter, excluding certain items, three cents above estimates. It also raised its quarterly dividend to 23 cents per share from 15 cents.
Coventry Health - The managed care provider earned 58 cents per share for the fourth quarter, excluding certain items, five cents short of analyst estimates. Revenues, however, were slightly above consensus.
CVS Caremark – The company reported quarterly profit of 89 cents per share, matching estimates, with revenues slightly above consensus.
Yahoo – Chairman Roy Bostock and board members Gary Wilson, Arthur Kern, and Vyomesh Joshi will not stand for reelectionat the company's annual meting.
Nokia - The smartphone maker is cutting 4,000 more jobs in Finland, Hungary, and Mexico as it moves more assembly work to Asia. Nokia’s total planned job cuts now total more than 30,000.
Harley-Davidson - The motorcyle maker has named President and CEO Keith Wandell as its new chairman, and also announced a 24 percent dividend increase.
Western Union - The company's fourth quarter results were in line with Street forecasts, but its full year outlook is below expectations on what it calls macro challenges.
Panera Bread - The restaurant operator matched estimates with fourth quarter profit of $1.42 per share, but it also raised its first quarter outlook above current analyst estimates, making it likely that Panera stock will set another all-time high in today’s trading. Panera also announced CFO Jeff Kip is leaving the company to join IAC/InterActiveCorp.
Freeport-McMoRan Copper & Gold - The miner is raising its annual stock dividend to $1.25 per share from $1.00.
Buffalo Wild Wings - The restaurant chain reported fourth quarter profit of 73 cents a share, six cents above estimates, on a nearly 35 percent jump in revenue.
L-3 Communications - The company is boosting its quarterly dividend by 11 percent to 50 cents per share.
Sony - S&P cut its long term rating on Sony to two notches above junk at BBB+, and warned of a further downgrade as it sees no meaningful sign of recovery in the electronics giant’s earnings.
Elan - The drug maker saw its fourth quarter sales drop 14%, more than analysts were predicting, but says its earnings should rebound this year through sales of its multiple sclerosis drug Tysabri.
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