Stocks to Watch: S, KRFT, TWX & More
Take a look at some of Wednesday's morning movers:
Sprint Nextel - Sprint has purchased spectrum and customers from U.S. Cellular in a $480 million deal. The transaction involves parts of Illinois, Indiana, Michigan, Missouri, and Ohio, and will help Sprint build out its 4G LTE network.
Kraft Foods Group - In its first earnings report since the old Kraft Foods split into two companies, Kraft reported third-quarter profit of $0.79 per share, 10 cents above estimates, as new products helped improve sales.
Time Warner - Time Warner reported third-quarter profit of $0.86 per share, four cents above estimates, though revenue was slightly short of consensus. The company saw growth in its cable business, but a decline in film and entertainment.
Wellpoint - The health insurer earned $2.09 per share, excluding certain items, for its third quarter, 25 cents above estimates. The company said the results were helped by stronger cost controls and improved core operating performance.
Novartis - The company's experimental heart failure drug cut deaths by 37 percent in a late stage clinical trial.
Sony - Sony has received a Chinese "certification of quality" for its PlayStation 3 videogame consoles, leading to speculation that the country might lift a ban on home game consoles which has been in place since 2000.
McGraw-Hill - The company is in exclusive talks to sell its education unit to Apollo Global Management according to The Wall Street Journal. The paper reported the final price is expected to be less than $2.5 billion, compared to the $3 billion to $4 billion McGraw-Hill had initially hoped the unit would fetch.
Pfizer - The drugmaker has gotten an earlier-than-expected approval for its arthritis drug Xeljanz. The U.S. Food and Drug Administration will still require a post-marketing safety study of the drug's effect on serious conditions like heart disease and cancer.
News Corp. - News Corp. reported third-quarter earnings of $0.43 per share, six cents above estimates, with revenue essentially in line with consensus. The quarter's results were helped by a 16 percent increase in revenue at the company's cable network division.
Buckle - Buckle has declared a special dividend of $4.50 per share, the retailer's second special dividend in a little over a year. It had declared a $2.25 per share payout in October of 2011.
—By CNBC's Peter Schacknow
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