Market Insider

What's Shaking: Tuesday's Early Movers


Check out some of Tuesday's early movers:

Citigroup fell after it reported earnings short of analysts' expectations. Citigroup reported profits of $0.38 per share, versus expectations of $0.49 per share.

Wells Fargo reported profits of $0.73 per share, up from $0.61 per share a year earlier.

Carnival Corp traded sharply lower, as analysts cut earnings estimates and changed ratings in response to the crash of one of its ships off the coast of Italy. Morgan Stanley cut the stock to "equal-weight" from "overweight," and Barclays maintained its "overweight" rating but cut 2012 and 2013 EPS estimates.

Royal Caribbean Crusies was also moving lower on concerns the accident will impact industry sales.

Valero said its fourth quarter results will be impacted by weak margins on refined product. The company released interim results Monday and said it expects to earn $0.09 to $0.10 per share.

ExxonMobil gained after the energy giant reaffirmed its position to partner with Abu Dhabi's oil and gas concessions.

JPMorgan slipped even after Citigroup raised its target price on the investment bank to $42 from $40.

Intel will be in focus after JPMorgan cut its rating on the tech giant to "neutral" from "overweight."

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