Stocks in the News: Amazon, Sears, Xerox

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The following is a round-up of news likely to affect stock prices today:

Xerox Corp. (XRX) reported a loss in its first quarter because of charges. Adjusted earnings, however, beat analysts' expectations as revenue jumped 33%. Xerox's outlook also topped the Street's expectations. Shares soared over 6% in premarket trading.

Microsoft (MSFT) said Thursday its fiscal third-quarter net income shot up 35% from last year, buoyed by the most recent release of its Windows operating system. Revenue for the quarter grew by 6%. Results beat analysts' estimates. Shares were 1.6% lower in premarket trading.

American Express (AXP) reported late Thursday its first quarter earnings more than doubled. Revenue rose 11% thanks to a jump in cardholders' spending. Results beat Wall Street forecasts. Shares advanced 1.3% ahead of the bell.

Amazon.com (AMZN) reported Thursday first-quarter earnings that beat Wall Street's estimates on a 46% revenue jump. But the online retailer warned its outlook was below analysts' projectioins. Shares sank over 5% in premarket trades.

Travelers Cos. (TRV) reported a 2% decline in its first quarter profit due to costs of insuring against unusual catastrophe in the period. Earnings came in far below analyst estimates. Still, Travelers raised its quarterly dividend 9% to 36 cents a share. Shares dropped over 3% before the bell.

Schlumberger Ltd. (SLB) said Friday its first-quarter profit fell 2% as revenue fell 6.7%. The world's biggest oilfield services provider also incurred charges related to health care reform. Results didn't meet analysts' expectations.

Honeywell (HON) reported its first-quarter earnings slipped almost 3% on a pension charge. Excluding the charge, it handily beat estimates as revenue rose 2.8%. Honeywell also raised its outlook for the year, in line with analysts' estimates. Shares still dropped 1.3% in premarket trading.

Sears Holdings Corp. (SHLD) gave first-quarter guidance that was in range of Wall Street expectations, although both guidance and the range of analysts projections were quite wide. Meanwhile, Sears also said it will buy an additional 17% stake in Sears Canada for $30 Canadian dollars ($30) per share for just over 90% share when the deal is complete. Shares dropped 2% before the bell.

Apple (AAPL) became the second-largest company, in terms of market capitalization, on the S&P 500 Thursday, after Exxon Mobil (XOM), according to Standard & Poor's index services unit.

Goldman Sachs (GS) may be better off cutting its losses instead of fighting the SEC's civil fraud claims in court, Bloomberg reported professors of securities law as saying. Goldman will probably lose the first motion to throw out the suit because it lacks legal merit.

Costco Wholesale Corporation (COST) announced a 14% increase in its quarterly cash dividend from 18 cents to 20.5 cents per share.

Capital One Financial Corp. (COF) said Thursday that it returned to first-quarter profit as income fees and interest climbed to offset higher loan loss provisions. Even as its revenue dipped, it far exceeded expectations. Shares jumped 5.6% before the bell.

Rambus (RMBS) reported it swung to a first-quarter net income as revenue surged 492%, thanks to a licensing agreement with Samsung. Results were above estimates. Shares rose 3.6% ahead of the bell.
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