Take a look at some of Tuesday’s morning movers:
Coca-Cola - The company earned 89 cents a share for the first quarter, two cents above estimates, with revenue also exceeding analyst forecasts. Global volume growth amounted to 5 percent during the quarter, versus estimates of 3 percent.
Johnson & Johnson - The pharmaceutical giant earned $1.37 per share, excluding certain items, two cents above estimates. Revenues were very slightly short of consensus at $16.1 billion.
Goldman Sachs - Goldman earned $3.92 per share for the first quarter, compared to estimates of $3.55. Revenue came in at $9.95 billion, versus a $9.48 billion consensus. Goldman CEO Lloyd Blankfein says there's significant room for growth, particularly in investment banking, as market conditions improve.
Comerica - The bank earned 66 cents per share for the first quarter, 11 cents above estimates, with revenues also beating expectations. Comerica earned more money from its core banking operations, and says it's considering a 50 percent increase in its dividend, currently at 10 cents per quarter.
First Solar - The maker of solar power equipment is cutting 30 percent of its workforce — about 2,000 workers — in response to deteriorating operating conditions in Europe and to align its operations more closely with its opportunites. Goldman Sachs downgraded its stock to "neutral" from "buy." The firm says near-term catalysts for the company are limited, and that First Solar has an uncertain strategic longer term direction.
News of First Solar's reorganization and the downgrade could also impact other solar stocks, including LDK Solar, Suntech Power, Trina Solar, and ReneSola.
U.S. Bancorp - The banking company earned 67 cents per share for the first quarter, three cents above estimates. Improvements in credit quality are among the reasons cited for the better-than-expected performance.
Research In Motion - The BlackBerry maker has issued a “no comment” to reports it’s hiring advisers to help it weigh strategy options.
United Continental - The airline has named Senior Vice President John Rainey as its new chief financial officer, replacing Zane Rowe. Rowe is taking a nonfinancial position at Apple.
Valero Energy - The energy producer has updated its first quarter earnings outlook, now seeing earnings per share of $0.25 to $0.35, versus analyst estimates of $0.20.
Cheniere Energy - Cheniere has received regulatory approval to build a new liquefied natural gas export plant in Louisiana. That’s the first such project approved in the U.S. in 50 years.
Yahoo - Yahoo has hired former PayPal executive Sam Shrauger to help lead a newly formed consumer commerce unit. He’ll share those duties with Mollie Spilman, who had been running the marketing operation for Yahoo’s Americas division.
Apple - The stock remains on our watch list today, after slumping 8.8 percent over the past five sessions. That’s the biggest five-day drop for the stock in more than three years, and Apple is now down nearly 10 percent from its record intraday high of $644 on April 10.
Questions? Comments? Email us at email@example.com