Stocks in the news: Exxon Mobil, Dow Chemical, Bank of America
Apr 30th 2009 9:05AM
Updated Dec 4th 2009 11:21AM
Exxon Mobil (XOM) reported net income slipped by 58 percent in the quarter as oil prices and demand dropped sharply. The results of 92 cents earnings per share missed analysts' expectations of 96 cents.
Dow Chemical (DOW) reported its quarterly profit fell 97 percent as its sales dropped 39 percent on weak demand for its products and falling energy prices. But excluding charges Dow earned 12 cents per share during the period, handily beating expectations of a loss of 21 cents per share according to Thomson Reuters. Shares jumped nearly 14 percent in premarket trading.
Starbucks (SBUX) reported after the close Wednesday a 77 percent drop in quarterly net income, but managed to top Wall Street's estimates after taking out big restructuring charges for store closures.
Visa Inc. (V) posted better-than-expected quarterly earnings on Wednesday due to increased prices, slashing expenses and consumers used debit cards more. Shares were up 1.8 percent in premarket trade.
Comcast Corp. (CMCSA) reported Thursday that its first-quarter profit rose 6 percent to $772 million, or 27 cents a share, beating estimates of 23 cents per share. Revenue also rose. Shares gained over 8 percent in pre-market trade.
Eastman Kodak (EK) reported a wider loss in the first quarter on plunging sales and restructuring charges. Sales dropped 29 percent to $1.477 billion. Excluding one-time items, Kodak lost 95 cents a share. Analysts were looking for a loss of 33 cents a share. Shares declined 7 percent ahead of the opening bell.Motorola (MOT) reported a wider first-quarter loss that was lower than expected. It also forecast a narrower loss for its second quarter.
Ericsson (ERIC) reported a 35 percent profit drop and didn't provide an earnings outlook. Shares declined 3 percent before the bell.
China Mobile (CHL) announced a plan to buy a 12 percent stake in Far EasTone Telecommunications, which stoked speculation of more cross-straits deals and a thawing of China-Taiwan relations.
AAPL) is building a significant capability to design its own computer chips, a strategy shift that the company hopes will create exclusive features for its gadgets and shield Apple's work from rivals, The Wall Street Journal reported.Inc. (