Before the bell: MAR, UBS, BA, TASR, LIZ, BAX, HPQ

Posted Feb 14th 2008 8:40AM by Melly Alazraki
Filed under: Before the Bell, Earnings Reports, Hewlett-Packard (HPQ), Baxter Intl (BAX), Boeing Co (BA), Marriott Intl'A' (MAR), Liz Claiborne (LIZ), Taser Intl Inc (TASR)

Marriott International Inc. (NYSE: MAR) fourth quarter earnings fell 20% to $176 million or 46 cents per share, as it took a hit from the closure of its business making cleaner burning coal for tax credits. The company posted revenue of $4.1 billion. Excluding the loss from the discontinued operations, Marriott says it earned $236 million, or 62 cents per share, beating the 62 cents expected by analysts.

UBS AG (NYSE: UBS) on Thursday posted a fourth-quarter net loss -- the first since 1997 -- of $11.28 billion, and a loss for the entire year, due to investments in U.S. subprime mortgages. It said it expected more problems in 2008. The results were inline with previous guidance. UBS shares are down some 5.75% in premarket trading.

Boeing Co. (NYSE: BA) said Thursday it created a joint venture to be formed by June with Tata Industries Ltd. to make more than $500 million in aerospace components.

Taser International Inc. (NASDAQ: TASR) reported that fourth-quarter earnings doubled, reaching $4.7 million, or 7 cents a share, on 61% higher revenue. Sales rose to $31 million. Analysts polled by Thomson Financial expected a profit of 7 cents per share on $29 million of sales.

Liz Claiborne Inc. (NYSE: LIZ) announced that it has entered into an agreement with a group of investors to sell substantially all of the assets and liabilities of the Ellen Tracy brand for a purchase price consisting of a $27.3 million.

A plant in China that hasn't been inspected by the U.S. FDA, may be producing flawed ingredients for the big-selling Baxter International (NYSE: BAX) blood thinner Heparin and may be linked to four deaths.

Hewlett-Packard Co. (NYSE: HPQ) reached a financial settlement with The New York Times and journalists from Business Week it spied on during its scandalous boardroom surveillance scheme.

Tags: ba, bax, hpq, inthenews, liz, mar, tasr, ubs