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Before the bell: Futures lower ahead of FOMC meetingVerizon Communications Inc. (NYSE: VZ) said fourth-quarter profit rose 3.9% as wireless and television subscriptions increased. Net income climbed to $1.07 billion, or 37 cents a share. Profit excluding some items was 62 cents, meeting the average estimate of 21 analysts in the Bloomberg survey. Sales rose 5.5% to $23.8 billion, missing the $24 billion average estimate of analysts in a Bloomberg survey.
Oilfield services provider Halliburton Co. (NYSE: HAL) said Monday its fourth-quarter profit rose almost 5% from a year ago, helped by growing business in the Eastern Hemisphere, where the company is placing greater resources. Net income rose to $690 million, or 75 cents per share topping analysts estimate of 69 cents a share. Halliburton's quarterly revenue rose 19% to $4.2 billion, topping analysts' estimates of $4.1 billion. Shares are climbing over 1.6% in premarket trading.
Kellogg (NYSE: K) and General Mills (NYSE: GIS) were each upgraded to Buy from Hold at Citigroup with the broker claiming that not only is there little correlation between U.S. food consumption and GDP growth, but a recession may even help these firms, as consumers eat in more.
Caterpillar (NYSE: CAT) was upgraded to Outperform from Peer Perform at Bear Stearns. In this case, the broker hopes for an economic rebound in 2009 when construction equipment sale should "begin to recover."
Merck & Co. (NYSE: MRK) was upgraded to Buy from Neutral at UBS, which said the sell-off on the trial's results on Vytorin/Zetia was too steep.
New York Attorney General Andrew Cuomo over the weekend launched a probe into Merck and Schering-Plough (NYSE: SGP) over the timing of a release of a negative study into their cholesterol drug Vytorin.
Walgreen Co. (NYSE: WAG) stock is down nearly 2.5% after being downgraded by Citigroup from Hold to Sell.
eBay Inc. (NASDAQ: EBAY) said Monday its PayPal division will purchase Israeli online risk tools company Fraud Sciences Ltd. for about $169 million to enhance Web site safety.
General Electric Co. (NYSE: GE) said Monday it will purchase steel tube supplier Tenaris SA's Hydril pressure control business for $1.12 billion.
The word on the blogosphere is that Apple (NASDAQ: AAPL)'s MacBook Air laptops are already in stock rooms and will be available in stores this Wednesday already.
In the battle for No. 1 spot in global sales, General Motors (NYSE: GM) was crowned recently for on more year, still beating Toyota (NYSE: TM) in 2007. In global vehicle production, however, Toyota beat GM, making 9,497,754 vehicles worldwide in 2007, about 213,000 more automobiles than the 9.284 million that GM made last year.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
1-29-2008 @ 11:46AM
Gumby said...
Doug Mcintyre
Doug
You are right about bad lungs... Look, I dont know of any one single super rich dude like Billy Gates or Mr Chambers of Cisco making a donation or starting a foundation to educate the international smokers to stop smoking or at least get lost smoking so not to bother the innocent bystanders in the bazaars or whatnots. I dont think I would ever want to travel through those international crowds out there. I would suffocate in heavy plumes of second hand smoke out there. I would rather see the nature and countrysides instead of inner cities where cigarette smokers contribute considerably to the street level air pollution. You see, not one leader doing anything about the powerless who are suffering the excessive air pollution generated by harebrained smokers gone amok thinking they possess the demonic liberties of lighting a cigarette anywhere they damn please. Not one single leader from America here. We had helped people in natural disasters like earthquakes, tsunamis, genocides, etc but nothing about educating smokers to at least pay respect to other bypassers who do not smoke. I dont care about smokers' health as long as they manage to get lost somwhere where they cant do any harm to others except to Mother Earth which is already littered with quadrillions of cigarette butts....
1-29-2008 @ 11:46AM
Gumby said...
Doug Mcintyre
Doug
You are right about bad lungs... Look, I dont know of any one single super rich dude like Billy Gates or Mr Chambers of Cisco making a donation or starting a foundation to educate the international smokers to stop smoking or at least get lost smoking so not to bother the innocent bystanders in the bazaars or whatnots. I dont think I would ever want to travel through those international crowds out there. I would suffocate in heavy plumes of second hand smoke out there. I would rather see the nature and countrysides instead of inner cities where cigarette smokers contribute considerably to the street level air pollution. You see, not one leader doing anything about the powerless who are suffering the excessive air pollution generated by harebrained smokers gone amok thinking they possess the demonic liberties of lighting a cigarette anywhere they damn please. Not one single leader from America here. We had helped people in natural disasters like earthquakes, tsunamis, genocides, etc but nothing about educating smokers to at least pay respect to other bypassers who do not smoke. I dont care about smokers' health as long as they manage to get lost somwhere where they cant do any harm to others except to Mother Earth which is already littered with quadrillions of cigarette butts....