Among the tumult in the markets today and the rash of quarterly reports, health care products manufacturer Johnson & Johnson (NYSE: JNJ) reported a solid quarter, and UAL Corp. (NASDAQ: UAUA), parent of United Airlines, reported that it had narrowed its loss.

Johnson & Johnson's profit increased almost 10 percent in the fourth quarter as revenues soared, despite decreasing sales for two key product lines. Net income was $2.37 billion, or 82 cents per share, up from $2.17 billion, or 74 cents per share, a year earlier. (Excluding one-time items, net income would have been 88 cents per share.) Revenues reached $15.96 billion (mostly coming from overseas), up 16.6 percent from $13.7 billion in the same quarter a year ago. Analysts surveyed by Thomson Financial had expected earnings of 86 cents per share, excluding one-time items, on revenues of $15.4 billion. For the full year, the company reported net income of $10.6 billion, or $3.63 per share, down slightly from $11.05 billion, or $3.73 per share, in 2006. J&J said it expects earnings per share for 2008 to total $4.39 to $4.44, excluding one-time items, which was in line with analysts' expectations. Shares fell 1.54 percent Tuesday, to close at $65.27.

UAL reported a less-than-expected $53 million loss for the fourth quarter on a sharp increase in the price of fuel and bad weather over the holidays. The net loss for the final three months of 2007 was 47 cents a share, better than the loss of $61 million, or 55 cents a share, in the same quarter a year ago. Revenue was $5.03 billion, up 9.7 percent from $4.59 billion a year ago, partly due to higher fares. Analysts polled by Thomson Financial had expected a loss of 89 cents per share and revenue of $4.95 billion. Despite its first loss since the first quarter of 2007, the company still posted net income of $403 million for the full year -- its first annual profit since 2000. Shares closed down 3.25 percent Tuesday, at $31.87.

CEO Glenn Tilton was mum about merger talks rumored to be under way with Delta Air Lines (NYSE: DAL).

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Earlier this month, rumors hit the market that United Airlines (NYSE: UAUA) and Delta Air Lines (NYSE: DAL) were considering a possible merger. Shortly afterward, Delta officially denied the rumors, but not surprisingly, United Airlines CEO Glen Tilton did not deny that they were considering merger options, as many industry analysts believe that United is the perfect company for a possible merger.

The airline, which took flight in 1930, filed for bankruptcy following the 2001 terrorist attacks and has appeared to be preparing for a sale ever since emerging from its bankruptcy proceedings. United came out of bankruptcy last year, but the company is still up to its eyeballs in debt, and boasts a miserable 2% profit margin over the past year.

When looking at United a couple of factors jump out at you pointing to the notion that the company feels a merger is the best avenue to explore: