Mattel (NYSE: MAT) reported that its fourth-quarter profit fell 46% to $176.4 million, or 49 cents a share, on sales of $1.94 billion from $2.19 billion as it was hurt by the stronger dollar and the weakest holiday season in decades. This was much lower than analyst estimates for the toymaker of 72 cents of profit on $2.2 billion of sales, according to Thomson Reuters. MAT shares declined over 18% in premarket trading.Humana (NYSE: HUM) reported that its fourth-quarter net income fell 28% to $174.1 million, or $1.03 a share, on higher claim expenses, lower investment income, and a 12% income decline in its government segment business. Analysts polled by FactSet had expected fourth-quarter earnings of $1.07 a share. HUM shares declined nearly 4% in premarket trade.
American International Group (NYSE: AIG) is in discussions about a federal backstop for some of its assets, according to the Wall Street Journal.
Ford Motor Co. (NYSE: F) was downgraded by Barclays from Equal Weight to Underweight and its price target lowered from $4 to $1. The broker said the automaker will need government cash by year end. Ford declined over 3.7% in pre-market trade.
General Motors Corp. (NYSE: GM) is seeking to get a relief for a $7 billion tax associated with the Treasury's plan to give much of GM's outstanding stock to debt holders, the UAW and the federal government. GM shares gained about 1% in premarket trade.
Pfizer (NYSE: PFE) discontinued a Phase III clinical trial for an experimental pancreatic-cancer drug,axitinib, because results showed no improvement in survival rates. Credit Suisse, however, upgraded PFE to Outperform from Neutral.
News Corp. (NYSE: NWS) Chairman Rupert Murdoch held talks with Telefonica SA's Chairman Cesar Alierta held talks to discuss a possible deal involving Italy's largest telecoms operator, Telecom Italia (NYSE: TI), according to Italian daily La Repubblica. NWS shares declined 3.3% in premarket trading.
GlaxoSimthKline PLC (NYSE: GSK) could announce a near 6% reduction to its workforce, or 6,000 jobs, in its attempts to reduce costs, according to London's Sunday Telegraph. GSK shares declined 2.9% in premarket trading.
Rio Tinto (NYSE: RTP) is in talks with Aluminum Corp. of China (NYSE: ACH) over a large investment. Chianlco could buy minority stakes in the miner's operations, which would help it with its debt burden. RTP shares gained about 4% in premarket trade, ACH's declined about 1.8%.
Anadarko Petroleum Corp. (NYSE: APC) said it discovered more than 200 feet of net oil pay at its Heidelberg prospect in deep-water Gulf of Mexico. APC is also scheduled to report earnings today.
Sirius XM Satellite Radio Inc. (NASDAQ: SIRI)'s debt is coming due this month, and how it handles it may be crucial to its existence. SIRI shares declined over 7% in premarket trading.
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