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Federal Judge William Pauley wrote in a court filing made public Wednesday that materials related to a campaign finance probe of Cohen should be unsealed — and denied a...Politicsread more
Check out which companies are making headlines before the bell:
Verizon—The telecom giant matched estimates with adjusted earnings of 71 cents per share for the fourth quarter. Revenue was slightly above forecasts, on strength in the tablets category. Overall, Verizon posted a loss on costs related to pensions and severance.
City National—The Los Angeles-based bank will be acquired by Royal Bank of Canada for $5.4 billion in cash and stock, or $93.80 per share. That represents a 26-percent premium for City National shareholders.
Travelers—The insurance company reported adjusted quarterly profit of $3.07 per share, well above estimates of $2.54, with revenue slightly above estimates. Travelers was helped by a drop in catastrophe claims and higher premium income.
BB&T—The regional bank beat estimates by 3 cents with quarterly profit of 76 cents per share, with revenue also above estimates. The company said its results were helped by expense controls and strong performance in mortgage banking, insurance, and investment banking.
KeyCorp—KeyCorp beat estimates by 2 cents with quarterly profit of 28 cents per share, with revenue above consensus. The regional bank was helped by an expansion in its loan portfolio.
Johnson Controls—The automotive components earned an adjusted 79 cents per share for its latest quarter, 2 cents above estimates, with revenue slightly below.
Alaska Air—The airline reported adjusted quarterly profit of 94 cents per share, beating estimates by 1 cent, with revenue slightly above Street forecasts. It also raised its quarterly dividend by 60 percent to 20 cents per share.
American Express—The credit card provider reported quarterly profit of $1.39 compared to forecasts of $1.38. American Express will also cut more than 4,000 jobs this year, resulting in a $313 million charge against earnings.
Kinder Morgan—Kinder is buying oil and gas exploration company Hiland Partners from founder Harold Hamm for $3 billion, giving it a presence in North Dakota's Bakken region.
EBay—EBay announced a standstill agreement with investor Carl Icahn, and also said it will explore a sale or initial public offering of its enterprise business. The e-commerce company also announced plans to cut 2,400 jobs during the current quarter, and reported adjusted quarterly profit of 90 cents per share, beating estimates by a penny. However, the company's current quarter outlook falls below analyst forecasts.
Discover Financial—The credit card company earned an adjusted $1.19 per share for the fourth quarter, 11 cents below estimates, with revenue also below consensus. The miss was due in part to changes in its rewards program.
F5 Networks—The maker of networking equipment beat estimates by 6 cents with an adjusted quarterly profit of $1.55 per share, though revenue was below forecasts. F5 also gave a weaker than expected outlook for the current quarter, as large-scale sales decline.
SanDisk—The flash memory chip maker reported adjusted quarterly profit of $1.30 per share, 3 cents above estimates, with revenue essentially in line. SanDisk also announced a $2.5 billion share buyback.
Xilinx—The chip maker earned 62 cents per share for its latest quarter, 1 cent above estimates, but revenue was below forecasts, as was its revenue projection for the current quarter. Xilinx's results have been impacted by lower sales to some of its biggest customer segments.
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