Stocks to Watch: T, MMM, UTX & More

Take a look at some of Tuesday’s morning movers:


AT&T - AT&T earned $0.60 per share for the first quarter, three cents above estimates, with revenue essentially in line with estimates. The company says it sold 5.5 million smartphones during the quarter, breaking its prior first quarter record.

3M - 3M earned $1.63 ex-items per share for the first quarter, 10 cents above estimates. It's also projecting fiscal 2012 profit above current analyst forecasts. Its bottom line was helped by strong results in its industrial and transportation businesses.

United Technologies - The diversified manufacturer reported first-quarter profit of $1.31 per share, excluding certain items, 11 cents above estimates. Its results were boosted in part by strong demand for heating and cooling systems in the North American market.

Coach - The luxury goods maker reported fiscal third-quarter profit of $0.77 per share, two cents above estimates, with revenues essentially in line. Coach also raised its quarterly dividend by 33 percent.

Hershey - The chocolate maker earned $0.96 per share, excluding certain items, for the first quarter, 15 cents above estimates, with sales also beating forecasts. Successful implementation of price increases helped boost Hershey's profits.

RadioShack - The electronics retailer lost $0.08 per share for the first quarter, versus an expected profit of $0.05 per share, with sales also falling short of estimates. RadioShack calls the quarter "challenging" and the results "disappointing." Weakness in its Sprint Nextel wireless business was among the factors hurting its bottom line, as well as weaker demand for home entertainment products.

Regions Financial - The regional bank reported earned $0.14 per share, excluding certain items, six cents above estimates. The company set aside less money to cover loan losses than it had a year earlier, and also saw an increase in non-interest income.

Netflix - The video subscription service is under pressure on concerns about its latest subscriber numbers. Netflix lost eight cents per share for its first quarter, a smaller loss than the 27 cents analysts were expecting.

Texas Instruments - The chipmaker earned 32 cents per share for the first quarter, three cents above estimates, with revenues also beating consensus. Profits declined for a fourth straight quarter, but the company did give an upbeat outlook for the remainder of the year.

Big Lots - The retailer cut its U.S. same-store sales forecast, and now expects first quarter same store sales to fall slightly versus a year ago. That compares to a prior forecast of a 2 percent to 4 percent increase. Big Lots says it’s been hurt by weak demand for electronics.

Celanese - The company is raising its quarterly dividend to 7 1/2 cents per share from six cents. The specialty materials company will apply the new dividend rate to payouts beginning in August.

Wal-Mart Stores - The stock remains on our watch list, after falling yesterday in the wake of reports that executives stymied a probe into bribery by its Mexican unit. The Washington Post is now reporting that the retail giant faces a criminal probe in connection with those allegations.

ConocoPhillips spinoff Phillips 66 will replace supermarket chain SuperValu in the S&P 500 index once that spinoff is complete. Supervalu is moving to the S&P MidCap 400, replacing American Greetings, which will move to the S&P SmallCap 600.

Microsoft - An International Trade Commission judge has ruled that Microsoft infringed four patents held by Motorola Mobility in its Xbox videogame consoles, though he also ruled that a fifth patent was not violated. The full commission will review the ruling and make a final determination in August.

Novartis - Novartis is reporting first-quarter profit of $1.27 per share, five cents below estimates, as a manufacturing stoppage at a U.S. site impacted its profits. The drugmaker did maintain its full year outlook.

Yahoo - Yahoo has ended talks with Yahoo Japan about selling shares back to the Japanese affiliate, something it wants to do to raise cash. The companies did leave open the possibility of further negotiations.

Micron Technology - Reuters reports Toshiba has dropped out of the bidding for bankrupt Japanese chipmaker Elpida. Micron and South Korea’s SK Hynix are said to be among the remaining bidders.

Google - Google will launch on online storage service for consumers today, according to reports. The service would be called Google Drive and would have both free and paid levels of service.

Nokia - The company's debt rating has been downgraded by Fitch to a debt rating of BB+ from BBB-, with a negative outlook, due to the deterioration of profits and margins. The handset maker has responded by saying it’s taking actions to improve its financial viability.

United Continental - The airline is said to be near a deal to buy more than 100 Boeing 737 jets. That would mark a significant win for Boeing in its ongoing battle with Airbus for jet sales.

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