Stocks in the news: Starbucks, Walgreen, Gannett
Starbucks (SBUX) is rolling out its new instant coffee, Via, throughout North America after offering it for eight months in Seattle and Chicago only. Starbucks will also have its first-ever television ads.
Walgreen Co. (WAG) said Tuesday that its fiscal fourth-quarter profit declined to $436 million, or 44 cents a share as quarterly sales rose 8 percent to $15.7 billion. Adjusted earnings beat Wall Street expectations of 39 cents a share on sales of $15.7 billion. Same-store sale rose 2.4 percent. Shares jumped 10 percent ahead of the bell.
Among other companies reporting today are Darden Restaurants Inc. (DRI), Nike (NKE), Micron Technology (MU) and Jabil Circuit (JBL).
Gannett Co. (GCI) said Tuesday it anticipates earnings per-share of 39 to 42 cents excluding charges. Shares rallied over 14 percent in pre-market trade.
UBS AG (UBS)'s U.S. wealth management unit Paine Webber is not a core part of the bank's operations but will not be sold at present, UBS CEO Oswald Gruebel told the FT. Shares fell 2 percent before the bell.
Dell Inc. (DELL) on Monday unveiled its latest high-end, ultra-thin personal computer, the new Latitude Z, bringing some fresh design appeal to its enterprise models. It's the world's thinnest and lightest 16-inch laptop.
JPMorgan Chase & Co. (JPM)'s co-chief executive officer of the investment bank William Winters, is leaving the company.
General Electric Co. (GE) CEO Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on U.S. economic growth, likely resulting in the weakest recovery in decades.
Siemens AG (SI) has cut more jobs after it had a "tough" year where orders for its factory equipment and lighting products fell, CFO Joe Kaeser said as the company is adjusting capacity to adapt. Shares declined 2.6 percent ahead of the bell.
MBIA (MBI) main bond insurance unit was downgraded late Monday at Standard & Poor's to non-investment grade status. Shares fell nearly 7.5 percent in pre-market trade.
Sequenom (SQNM) fired its CEO and research-and-development head after an independent investigation concluded the company failed to put in place adequate controls when it conducted studies on its prenatal Down syndrome test. Shares plummeted about 40 percent before the bell.
CIT Group (CIT) -- Hedge fund manager John Paulson is considering merging CIT with failed mortgage lender IndyMac Federal Bank, the New York Post said. CIT shares soared over 14 percent in pre-market.CAM) struck a $500 million subsea equipment deal with Petrobras
Citigroup Inc. (C), Bank of America Corp. (BAC) and smaller banks will struggle even more to attract talent as a result of the global push to rein in executive pay as per the new Group of 20 standards adopted last week. Of course, banks that have already repaid the government, will benefit.