What's Shaking: Tuesday's Early Movers
Senior Producer, CNBC
Take a look at some of Tuesday morning's early movers:
Apple’s - The Wall Street Journal reports that Apple's upcoming iPad 3 will use the 4G networks of both Verizon and AT&T . The iPad 3 launch is widely rumored to be set for the first week in March.
Boeing - The aircraft maker has signed its largest ever commercial airplane order, with Indonesia’s Lion Air ordering 230 jets worth $22.4 billion.
Google , Motorola Mobility - Following Monday’s EU approval, the U.S. Justice Department has given its approval to the proposed purchase of Motorola Mobility by Google. The deal still needs approval from China, Taiwan, and Israel before it can be completed.
Bank of America - Citi has cut the bank's rating from "buy" to neutral, while raising its price target to $8.50 from $8. Citi says it made the cut on a valuation basis, with B of A needing time to address its legacy issues.
Avon Products - Avon earned 39 cents a share for the fourth quarter, well below estimates of 51 cents. Revenue was also short of consensus. Avon calls 2012 a "year of transition" and says it's not likely to see improvements in profit margins this year.
Goodyear - The tire maker earned 3 cents a share, excluding certain items, for its fourth quarter, below estimates of 20 cents. Declining replacement volumes in mature markets were among the reasons cited for the shortfall.
Rackspace - The web hosting company beat estimates with its fourth quarter profits of 18 cents a share, three cents above consensus, while revenues also beat analyst forecasts.
Health Management Associates - The hospital operator also registered an earnings beat, even after raising its fourth quarter forecast last month. Higher revenue per admission during the quarter was a key factor.
Masco - The building products maker reported a bigger than expected quarterly loss but did say it heads into 2012 with “cautious optimism”.
ComScore - The data tracking company earned 35 cents per share, excluding certain items, for its fourth quarter, seven cents above estimates.
Gap - Citi has upgraded the clothing retailer's stock to "buy" from "neutral" and raising 2012 estimates. The firm says Gap's sourcing strategy has changed for the better, and also cites its lean inventory and ample cash levels.
Fossil - Fossil reported fourth quarter profit of $1.87 per share, 10 cents above estimates, but gave a current quarter outlook that's shy of consensus.
Michael Kors Holdings - Third quarter profit came in at 20 cents per share versus analyst estimates of 8 cents, with revenue also above analyst forecasts.
Mylan - Goldman Sachs is upgrading its rating on the drugmaker's stock to "buy" from "neutral", saying it had increasing confidence in the company's earnings outlook.
Hospira - The provider of injectable drugs and infusion technology reported quarterly profit of 51 cents a share, excluding certain items, six cents above estimates. However, its guidance for fiscal 2012 is below analyst estimates, which Hospira says is primarily due to the impact of various quality improvement actions.
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