What's Shaking: Monday's Early Movers
Take a look at some of Monday morning's early movers:
Lowe’s – The home improvement retailer earned 29 cents a share, excluding certain items, for the fourth quarter, five cents above estimates, with revenue also beating consensus. The company says mild winter weather was among the factors helping its sales.
Walt Disney - Goldman Sachs has upgraded Disney to "conviction buy" from "neutral", citing ESPN's performance as well as theme parks for giving the company some upward earnings momentum.
Sprint Nextel , MetroPCS - CNBC’s David Faber reports Sprint walked away from a nearly finalized deal to acquire MetroPCS. Faber says it’s not clear why the Sprint board rejected it after CEO Dan Hesse endorsed it.
Broadcom - The SEC is conducting a formal investigation into the company’s accounting practices, focusing on the chipmaker’s handling of litigation reserves during the first quarter of 2011. Broadcom says it is cooperating with the investigation.
BP - The trial to decide on financial responsibility for the 2010 Gulf oil spill has been postponed for a weekfor settlement talks.
El Paso –The company has finalized a dealto sell its exploration and production business to Apollo Global Management and Riverstone Holdings for about $7.15 billion. The potential transaction had been widely reported last week.
Illumina - Swiss drugmaker Roche has extended its $5.7 billion hostile cash offer but did not raise its prior bid.
Nokia – The handset maker has unveiled new, less expensive Windows smartphone, the Lumia 610, in hopes of reversing a drop in market share.
HSBC - Europe’s biggest bank is reporting a $22 billion profitfor 2011, giving it the largest profit among western banks. That profit, however, was slightly below analyst forecasts.
Cheniere Energy Partners – Cheniere is getting a $2 billion investment from Blackstone Group. The investment gives Cheniere the ability to build a planned gas liquefaction plant in Louisiana, the first of its kind in the continental U.S.
AMR Corp. – The American Airlines parent is telling its union workers that labor contract changes will be needed in a matter of weeks to save the money necessary to successfully emerge from bankruptcy.
Dunkin’ Brands – Citi has initiated coverage of the stock with a “buy” recommendation and a price target of $36 per share.
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