Stocks to Watch: GM, GRMN, GNRC & More
Senior Producer, CNBC
Take a look at some of Wednesday's morning movers:
General Motors - The automaker earned $0.93 per share, excluding certain items, for the third quarter, well above estimates of $0.60. Revenue also beat estimates. GM continued to lose money in Europe, but is expecting to reach breakeven by the middle of the decade.
Garmin - The maker of GPS devices earned $0.74 per share for the third quarter, 13 cents above estimates, with revenue also above consensus. Strong demand for its outdoor products offset slower sales for traditional GPS devices.
Generac Holdings - The maker of generators is benefiting from the impact of Hurricane Sandy, raising its earnings forecast for the year after a significant jump in sales due to the storm. (Read More: See CNBC's Complete Coverage of Superstorm Sandy)
Walt Disney - The company will buy Lucasfilm for $4.05 billion in cash and stock. The deal continues a long-standing relationship between Disney and George Lucas, the man who gave the world the "Star Wars" franchise.
Electronic Arts - EA reported fiscal second-quarter profit of $0.15 per share, four cents above estimates, but the videogame maker's current quarter forecast of $0.50 to $0.60 per share is well short of Street estimates of $0.71. That's directly attributable to the performance of its new "Medal of Honor: Warfighter" videogame title.
Potash Corp. - The company is in talks with Jerusalem-based rival Israeli Chemicals about a possible merger. Potash is the world's largest maker of fertilizer.
PVH - The clothing maker formerly known as Phillips Van Heusen, is buying Warnaco for about $2.9 billion in cash and stock, valuing Warnaco at $68.43 per share. That represents a 34 percent premium over the most recent closing price, and reunites all Calvin Klein branded clothing under one roof.
Apple – Mobile software chief Scott Forstall has departed, amid controversy over Apple's highly criticized mapping software. Insiders say Forstall had a fractious relationship with other executives for years. (Read More: Apple in Safe Hands With Bigger Role for Ive: Analysts)
Microsoft – CEO Steve Ballmer said the company has sold more than 4 million upgrades to Windows 8 since its launch last Friday. Windows 8's sales pace is so far faster than that of its predecessor, Windows 7, which launched three years ago.
Dow Chemical – The chemical company will take a fourth-quarter charge of up to $1.1 billion for a previously announced restructuring. Dow last week announced plans to lay off thousands and shut down 20 plants.
Ford Motor – The automaker reported third-quarter profit of $0.40 per share, excluding certain items, 10 cents above estimates. Automotive revenue was slightly short of consensus, but Ford reported record North American profits and profit margins.
International Business Machines – IBM has authorized an additional $5 billion stock buyback, in addition to about $6.7 billion remaining from a prior authorization.
Schiff Nutrition – Germany's Bayer has bought the U.S.-based vitamin maker for $1.2 billion, or $34 a share. That's a nearly 47 percent premium over Schiff's most recent closing price.
Cardinal Health – The health-care services provider reported fiscal first-quarter profit of $0.81 per share, two cents above estimates, and also raised its quarterly dividend 16 percent to 27.50 cents per share.
BP – The company reversed recent quarterly losses by reporting a third-quarter profit of $5.5 billion, 5 percent above the year-earlier period, and also raised its quarterly dividend 12.5 percent to $0.09 per share.
TD Ameritrade – The online brokerage earned $0.26 per share for its fiscal fourth quarter, one cent above estimates. It also raised its quarterly dividend by 50 percent to $0.09 a share.
Anadarko Petroleum – The energy producer earned $0.84 per share for the third quarter, eight cents above estimates, though revenue was slightly short of consensus.
Red Robin Gourmet Burgers – The burger restaurant earned $0.24 per share, excluding certain items, eight cents above estimates. The company said it had solid operational performance, despite increasing commodity prices and a weak economy.
Burger King Holdings – The restaurant chain earned $0.17 per share, excluding certain items, two cents above estimates, a performance it attributes in part to a revamped menu.
Clean Harbors – The environmental services company is buying privately held Safety-Kleen for $1.25 billion in cash. The deal is expected to close by year's end.
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