Among the companies with shares expected to actively trade in
Friday's session are General Electric Co. (GE), Intel Corp. (INTC)
and Morgan Stanley (MS).
American Express Co.'s (AXP) fourth-quarter profit more than
doubled, as customers spent more in the U.S. and abroad, though the
company's results still came in shy of Wall Street expectations.
SunTrust said the earnings miss was due to a higher tax rate and
noted the company's results show evidence of "strong and
accelerating billed-business growth, moderate loan growth, cost
control and sustained high capital return." Shares climbed 1.4% to
$89 premarket.
BJ's Restaurants Inc. (BJRI) issued muted preliminary
fourth-quarter results, as the company said it was hurt by weaker
traffic and higher promotions. Shares dropped 12% to $26.75
premarket.
Capital One Financial Corp. (COF) said fourth-quarter earnings
rose 2.1% as lower loan-loss provisions offset a slight revenue
decline. The bottom line missed expectations, and its shares edged
down 1.9% to $75 premarket.
Con-way Inc. (CNW) issued a weaker-than-expected profit outlook
for the fourth quarter after the trucking company encountered
challenges at its Con-way Freight and Menlo Worldwide Logistics
operations. The company's shares declined 6.1% to $38.89
premarket.
Elizabeth Arden Inc. (RDEN) tempered its expectations for the
fiscal year and then said it would withdraw those targets, as the
beauty-products company warned of lower sales and a
weaker-than-expected holiday season. Shares dropped 21% to $27.18
premarket.
General Electric said its fourth-quarter income improved 4.8% as
the conglomerate's industrial revenue rose. "GE ended the year with
strong fourth-quarter earnings and margin growth in an improving
but mixed environment," Chief Executive Jeff Immelt said. "We saw
good conditions in growth markets, strength in the U.S. and a mixed
environment in Europe." Shares declined 1.5% to $26.80 premarket as
earnings merely matched estimates after a series of small
beats.
Intel said sales of chips for the ailing personal computer
market improved in the fourth quarter, but demand for larger
systems was weaker than expected. The Silicon Valley giant's
guidance for the current quarter and for all of 2014 also concerned
analysts, sending its shares down 4% to $25.47 premarket.
Morgan Stanley's fourth-quarter profit plunged 70% as strong
performance in the firm's wealth management business was offset by
weak fixed income trading results, substantial legal costs and
higher expenses. But shares climbed 0.9% to $32.30 in recent
premarket trading as results topped Wall Street estimates.
Sallie Mae (SLM) said its fourth-quarter profit slid 22% on
bigger losses on derivative and hedging actions, masking lower
loan-loss provisions and an increase in loan originations. Core
earnings for the latest period missed Wall Street's expectations,
sending shares down 4.2% to $26 premarket.
Schlumberger Ltd. (SLB) reported its fourth-quarter income rose
a bigger-than-expected 22% as oil-field services revenue jumped in
the Middle East and Asia. Shares edged up 1.3% to $89.79
premarket.
Skyworks Solutions Inc. (SWKS) said its fiscal first-quarter
earnings rose 42%, as the wireless-chip supplier continued to
benefit from strong demand across its wide range of markets.
Adjusted earnings and revenue exceeded expectations and the
company's fiscal second-quarter guidance beat analysts' estimates.
Shares climbed 10% to $31.53 premarket.
SunTrust Banks Inc. (STI) said its fourth-quarter earnings rose
20% as a drop in the regional bank's expenses masked a decrease in
revenue. Results beat expectations, sending shares up 2.3% to
$38.90 premarket.
Watch List:
Bank of New York Mellon Corp.'s (BK) fourth-quarter profit fell
15% and missed expectations as investment charges offset improved
market conditions and a growth in assets.
Devon Energy Corp. (DVN) named Thomas L. Mitchell as its new
chief financial officer, who is joining the exploration and
production company from rival Midstates Petroleum Co.
A U.S. Food and Drug Administration panel has voted against
expanding use of the blood thinner Xarelto to treat patients with a
certain heart problem, a decision that comes after reviewing the
results of a related Phase 3 trial. Xarelto, by Johnson &
Johnson (JNJ) and Bayer AG (BAYRY, BAYN.XE), is considered part of
a fairly new generation of blood-thinning drugs.
M&T Bank Corp. (MTB) said its fourth-quarter profit fell a
bigger-than-expected 17% as the regional bank's mortgage banking
revenue slid.
United Continental Holdings Inc. (UAL) disclosed it will book
$158 million in charges for the fourth quarter, mostly tied to the
airline's pacts with employees to either take early retirement or
accept furloughs.
U.S. Bancorp (USB) said Friday it will stop offering its
short-term consumer-loan product to customers by May 30 as
regulatory authorities have pressured banks to analyze customer's
ability to pay the loans. The move follows Regions Financial Corp.
(RF), which said earlier this week that it would also stop offering
short-term consumer loans by the end of the year.
Write to John Kell at john.kell@wsj.com Lauren Pollock at
lauren.pollock@wsj.com
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