What's Shaking: Tuesday's Early Movers
Take a look at some of Tuesday morning's early movers:
Wal-Mart - The world's largest retailer earned $1.44 per share for the fourth quarter, one penny shy of estimates, with sales also missing analyst forecasts as the company lowered prices to woo back shoppers.
Home Depot - The home improvement retailer beat Wall Street forecastsby earning 50 cents a share for the fourth quarter, eight cents above estimates. Its sales of $16 billion beat estimates of $15.5 billion. The company says favorable weather trends and pent-up demand helped boost its revenues.
Kraft Foods - The food producer reported fourth quarter profit of 57 cents a share, excluding certain items, matching analyst estimates, with revenues also essentially in line.
RadioShack - The electronics retailer matched estimates by earning 12 cents a share for its fourth quarter. It should be noted that analysts had slashed their estimates a month ago following the company's warning that weak mobile phone sales would impact its financial performance.
Medco Health - The pharmacy benefits manager reported fourth quarter profit of $1.25 per share, excluding certain items, eight cents above estimates, as it increased its distribution of more profitable generic drugs.
Mylan - The generic drugmaker earned 53 cents a share for its fourth quarter, three cents above estimates, though sales fell slightly short. Mylan was able to boost its bottom line through improved profit margins.
C.H. Energy - The energy producer will be bought by Canadian utility Fortis for $1 billion or $65 per share in cash, a premium of about 10.5% over C.H. Energy's Friday close.
Wynn Resorts - The casino operator forcibly bought out its largest shareholder, Kazuo Okada, in an ongoing dispute between Okada and chairman Steve Wynn. Okada plans to fight the move.
Transocean - The oilfield services company will consider omitting its dividend at its upcoming annual meeting to help it maintain its investment grade rating.
AES Corp. - Reuters reports the power producer, which was the first U.S. company in its industry to enter China two decades ago, is now considering selling all or part of its Chinese holdings.
Pfizer - The Financial Times reports the drug maker is considering raising about $3 billion througha partial IPO of its animal health unit.
Anadarko Petroleum - The company did announce a major oil find off Sierra Leone, but investors this morning are focusing on news that CEO Jim Hackett will step down after nine years.
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