Hewlett-Packard Corp. (NYSE: HPQ), reported a 13% quarterly drop in earnings as sales ticked up just 1% due to the recession. Results were inline with estimates, and even though it cut its 2009 guidance, it was still in line with Wall Street's expectations. HPQ shares declined 3.4% in premarket trade.Sprint Nextel Corp (NYSE: S) posted a $1.6 billion, or 57 cents per share quarterly loss on Thursday and said a total of 1.3 million wireless customers had left its service during the quarter. Revenue fell to $8.4 billion from $9.8 billion a year earlier, and topped the Street's estimate. Sprint expects subscriber losses to improve in 2009. Sprint shares are soaring some 6.6% in premarket trading.
UBS (NYSE: UBS) has agreed to pay $780 million in fines, penalties, interest and restitution and turn over once-secret Swiss banking records to settle allegations it conspired to defraud the U.S. government of taxes owed by thousands of American clients. UBS shares are trading neraly 4% higher in premarket action.
Whole Foods Market (NASDAQ: WFMI) reported late Wednesday net income fell 17% to $32.3 million, or 20 cents a share from the year-earlier quarter due to slowing store traffic and legal costs. It beat analyst estimates of 19 cents per share according to FactSet Research. While sales were flat, same-store sales declined 4.5%. Whole Foods said its pending antitrust legal fight with the Federal Trade Commission ate into its profit. WFMI shares are soaring over 15% in premarket trade.
Crocs Inc. (NASDAQ: CROX) the once high-flying stock, is expected to post a loss of 56 cents a share in the fourth quarter. CROX shares are trading 1.7% higher in premarket action ahead of its earnings after the close.
CBS Corp. (NYSE: CBS) said its fourth-quarter profit plunged 52% to $136.1 million, or 20 cents a share on advertising declines, and that it would slash its quarterly dividend by 81%. Excluding charges CBS would have earned 34 cents a share, beating estimates of 26 cents a share. Revenue fell 6% to $3.53 billion.
Priceline.com Inc. (NASDAQ: PCLN) said its fourth-quarter profit rose to $33.3 million, or 73 cents a share, but adjusted earnings for the latest quarter were $1.29 a share. Revenue rose 21% to $406 million. The results were far better than estimates of a quarterly profit of $1.05 a share. PCLN shares are soaring nearly 16% in premarket trading.
LDK Solar (NYSE: LDK) warned on Wednesday it will trim expansion this year and lose $135 million to $145 million in the fourth quarter as wafer prices fell. LDK shares are dropping nearly 11% in premarket trading.
CVS Caremark (NYSE: CVS) reported a higher quarterly profit of $949.3 million, or 65 cents per share, matching estimates. Sales up 10% to $24.14 billion, helped by growth in its pharmacy services and retail drugstore units. Same-store sales rose 3.6%, while pharmacy same-store sales were up 4.5%.
Retailers can't wait for Black Friday, open Thursday
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