What's Shaking: Thursday's Early Movers
Take a look at some of Thursday morning's early movers:
General Motors - The automaker earned 39 cents a share, excluding certain items, for the fourth quarter, two cents below estimates , with revenues essentially in line. The automaker did report a record annual net profit of $7.6 billion for 2011. CFO David Ammann told CNBC that while GM is pleased with the progress it made last year, it has more work to do.
Banks were under pressure after ratings agency Moody's warned that it may cut the ratings of 17 global and 114 European financial institutions. Among U.S. banks, BofA , Citigroup , Goldman Sachs , JPMorgan and Morgan Stanley were among companies that Moody's said it would place under review.
Nvidia - The chipmaker reported consensus-beating fourth quarter profit of 26 cents a share, seven cents above estimates, cut its first quarter revenue forecast falls short of analyst expectations. It blames a lackluster personal computer market and more competition from smartphones and tablets.
NetApp - The company matched estimates with fiscal third quarter earnings of 58 cents a share, but the stock staged a sharp after-hours rally as the data storage equipment maker halted a string of disappointing results.
CBS - The media company earned 57 cents a share for its fourth quarter, four cents above estimates. However, revenue came in below estimates because of a weaker advertising market.
Discovery Communications - The cable network operator earned 86 cents a share, well above estimates of 69 cents, as it benefitted from a bigger than expected jump in ad revenue.
VF Corp - The clothing maker earned $2.32 a share for the fourth quarter, two cents above estimates. The maker of Lee jeans and the North Face brand benefited from the acquisition of Timberland last year. It's also successfully battled the impact of higher cotton prices.
J.M. Smucker - The food producer fell well short of analyst estimates with fourth quarter profit of $1.22 per share, as sales fell more than the company had anticipated.
Duke Energy - The energy company earned 24 cents a share, excluding certain items, for the fourth quarter, three cents above estimates. Strong industrial demand helped offset weaker demand from residential customers.
CF Industries - The fertilizer producer fell 19 cents short of consensus with fourth quarter profit of $6.66 per share, though revenues were in line with estimates. CF’s fourth quarter income did more than double thanks to a surge in corn and phosphate prices.
Marriott - The hotel operator earned 46 cents a share for the fourth quarter, a cent below estimates, with revenues on the short side as well. The company has done well in the U.S. and China, but revenue has been suffering in troubled areas like the Middle East and Africa.
Blue Nile - The online jeweler fell short of estimates with its fourth quarter results, and also gave a first quarter outlook that was well short of consensus as well. The company says it’s seeing weakness in demand from its high end customers.
Agilent - The company met expectations with fiscal first quarter profit of 69 cents per share, but the electronic test equipment maker’s revenues fell short of estimates and its second quarter guidance is disappointing investors as well.
Oneok - The energy company declared a two-for-one stock split, subject to board approval
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