Take a look at some of Tuesday morning’s early movers:
Tiffany - The luxury goods retailer fell three cents short of analyst estimates with fourth-quarter profit of $1.39 per share, with the company saying it experienced softer than expected sales at the end of the quarter. However, Tiffany’s fiscal 2013 guidance of $3.95 to $4.05 per share is above current consensus of $3.93.
United Parcel Service - Stifel Nicolaus is downgrading UPS to “hold” from “buy,” saying it prefers the shares of rival FedEx. The firm believes the purchase of TNT Express is a long-term positive, but has some near-term integration risk.
Adobe Systems - The software maker reported fiscal first-quarter numbers that were largely in line with estimates, but part of Adobe’s second-quarter guidance range, however, does fall slightly below consensus.
Michael Kors - The company raised its fiscal fourth-quarter earnings per share guidance to 14 cents to 16 cents per share, above estimates of 13 cents. However, its revenue guidance range falls largely below estimates, and it’s also announcing a 25 million share secondary stock offering.
Apple - Apple says sales of its new iPad — which went on sale just last Friday — have already reached the three million mark. Separately, Citigroup is raising its earnings estimates and price target for Apple, as well as reiterating its “buy” recommendation.
Walt Disney - Walt Disney says its film “John Carter” will generate an operating loss of about $200 million, and as a result, its studio operations will have an operating loss of 80 to 120 million dollars for the fiscal second quarter.
Bank of America - The bank is denying rumors that it is planning a secondary stock offering, reports that wiped out yesterday’s early gains during the regular trading session.
Amazon.com - Amazon is buying Kiva Systems in a deal worth $775 million. The online retailer is hoping to benefit from Kiva’s robotic technology in the operation of its huge network of warehouses.
AstraZeneca - The drugmaker has abandoned an experimental antidepressant after it failed in clinical trials. AstraZeneca will take a charge of $50 million as a result.
Domino’s Pizza - Bank of America/Merrill Lynch has downgraded Domino’s to “underperform” from “neutral.” That follows the declaration Monday of a $3 a share special dividend and a 3.4 percent rise in the stock.
Comerica, Zions Bancorp - Bernstein is downgrading both stocks “market perform” from “outperform” on a valuation basis, after significant outperformance by Comerica and Zions shares relative to their peers.
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