Among the companies with shares expected to trade actively in
Tuesday's session are J.P. Morgan Chase & Co. (JPM), American
International Group Inc. (AIG) and Polaris Industries Inc.
(PII).
In the latest settlement stemming from the financial crisis,
J.P. Morgan Chase agreed to pay bond insurer Ambac Financial Group
Inc. $995 million to settle lawsuits alleging it misrepresented the
quality of mortgages backing hundreds of securities it insured.
Shares rose 0.52% to $55.95 in premarket trading.
American International Group will sell its broker-dealer
network, conduct a partial spin off of its mortgage-insurance unit
and more aggressively cut costs, Chief Executive Peter Hancock said
in a strategy update Tuesday, as pressure from investor Carl Icahn
grows. Shares rose 2.42% to $56.70 premarket.
Industrial conglomerate Danaher Corp. (DHR) on Tuesday posted a
4% increase in profit, handily beating expectations as recent
acquisitions boosted results. Shares rose 0.73% to $85.00
premarket.
Johnson & Johnson (JNJ) reported a 2.4% drop in December
quarter sales as adverse foreign exchange rates offset strong
growth in U.S. pharmaceutical sales. Shares rose 0.62% to $97.00
premarket.
Polaris Industries issued a modest sales forecast for the
current year, as the off-road vehicle maker reported its profit
fell 18% in its fiscal fourth quarter on soft sales in North
America. Shares fell 4.16% to $77.00 premarket.
Freeport-McMoRan Inc. (FCX) said it would step up its
debt-reduction efforts in response to further weakening in
commodities markets and that it is in talks with third parties
regarding a potential transaction. Shares rose 8.12% to $4.26
premarket.
DuPont Co. (DD), which last month struck a deal to merge with
Dow Chemical Co., swung to a loss in its latest quarter as sales
fell across all segments and were particularly hard-hit abroad
thanks to the strong U.S. dollar.
3M Co. (MMM) on Tuesday reported adjusted profit that easily
topped Wall Street expectations, though its core sales metric
slipped as the company struggles with weak demand.
Lockheed Martin Corp. (LMT) will separate its government IT
business and combine it with national security firm Leidos Holdings
Inc. in a $5 billion transaction, a move to shift the contractor's
focus to its core aerospace and defense units.
Sprint Corp. (S) on Tuesday boosted its guidance for the year
and said its turnaround is starting to take hold, as it posted a
loss for the latest quarter that wasn't as deep as Wall Street was
expecting.
Coach Inc. (COH) said sales continued to improve in its latest
quarter, as the handbag and accessories maker's efforts to revamp
merchandise and reign in promotions boost sales.
Avis Budget Group Inc. (CAR) said Monday that its largest
shareholder, SRS Investment Management, will place a member on its
board of directors. The companies also agreed that SRS, which owns
a 9.5% stake in the rental car company, will recommend a second
board member not affiliated with SRS.
Health insurer Centene Corp. (CNC) said on Monday that six hard
drives containing sensitive information of about 950,000 members
are "unaccounted for," leading the company to launch an internal
search.
Packaging Corp. (PKG) on Monday reported a drop in revenue for
its fourth quarter driven mostly by lower prices for white paper
among other factors, though the company registered
stronger-than-expected adjusted earnings.
Rambus Inc. (RMBS) on Monday projected sales above the Wall
Street consensus, following better-than-expected results for the
December quarter. Rambus, which built its business around licensing
technology for chips sold by others, has bought Smart Card Software
Ltd. for GBP64.7 million ($92.2 million), adding a secure
mobile-payment and ticketing platform that it expects will
complement its CryptoManager platform. Rambus expects the deal to
boost profit in the first year.
Relypsa Inc. (RLYP) reported favorable results from studies of
how its treatment for hyperkalemia, or excessive potassium in the
blood, interacts with other drugs.
Staples Inc. (SPLS) said its president of North American stores,
Demos Pareros, has resigned, effective March 31, amid a broader
reshuffling of executives at the office-supply chain.
Contract manufacturer Sanmina Corp. (SANM) on Monday reported
sales below its guidance for the fiscal first quarter, but profit
was within the company's projections as margins improved.
Starbucks Corp. (SBUX) Chief Executive Howard Schultz's total
compensation was valued at $20.1 million for fiscal 2015, down from
$21.5 million a year earlier. Still, Mr. Schultz and other top
executives received awards above the stated targets in the
executive management bonus plan which the company attributed to its
strong financial performance.
Steel Dynamics Inc. (STLD) on Monday reported a wider
fourth-quarter loss as it booked $435 million in charges largely
tied to its beleaguered metals-recycling operations.
Swift Transportation Co.(SWFT), one of the largest trucking
companies in the U.S., reported better-than-expected earnings
Monday, just a few months after slashing its profit forecast amid
weak freight demand and changes in the logistics business.
Zions Bancorp's (ZION) fourth-quarter profit rose 2.3% on
stronger-than-expected revenue and lower expenses. The regional
bank also set aside more funds to cover energy loans that it
doesn't expect to collect due to lower oil and natural-gas
prices.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
January 26, 2016 09:26 ET (14:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Johnson and Johnson (NYSE:JNJ)
Historical Stock Chart
From Aug 2024 to Sep 2024
Johnson and Johnson (NYSE:JNJ)
Historical Stock Chart
From Sep 2023 to Sep 2024