Stocks in the News: Motorola, Ingersoll Rand, Agilent
Motorola (MOT) said late Thursday that it plans to split itself up into two separate companies in the first quarter of 2011. One entity will include the company's mobile devices and home businesses, and the other will include enterprise mobility solutions and networks businesses. Shares jumped over 3% ahead of the bell.Agilent Technologies (A) shares jumped over 4% in premarket trading after the electronic-measurement-solutions company reported that its first-quarter profit rose 23%. On an adjusted basis, earnings were 38 cents a share, above consensus of 32 cents a share. Revenue rose 4% to $1.21 billion. The company also gave guidance that topped Wall Street's view.
Skillsoft (SKIL), an Irish provider of electronic education services, said on Friday that it agreed to sell itself to a consortium of private equity firms for $1.1 billion in cash. Shares soared 13% in premarket trading.
Berkshire Hathaway's (BRK.B) B shares will join the Standard & Poor's 500 index after the close of trading Friday. The shares could get a boost, as money managers who run index funds tied to the blue-chip index will have to buy it.
Ingersoll Rand (IR) turned to a profit in fourth-quarter on improved productivity. Adjusted earnings were 48 cents per share, missing consensus estimate of 53 cents per share. Revenue for the quarter was $3.3 billion, down 10%, but inline with expectations. The company, issued first quarter guidance below view, but raised fiscal year 2010 guidance above view. Shares dropped 5.8% in premarket trade.
Toyota (TM) said Friday it's planning a new level of disclosure about car problems beyond what the automaker is legally required to reveal as it seeks to rebuild consumer trust. President Akio Toyoda is expected to visit the U.S. in early March to meet with government officials and Toyota employees, and will perhaps attend two committee hearings in late February.
Cephalon (CEPH) late Thursday announced record sales and adjusted net income for 2009. It also increased guidance for 2010. Results topped Wall Street's expectations.
Alcon (ACL), which is being acquired by Novartis (NVS), reported higher fourth-quarter profit on Thursday, helped by double-digit sales increases in the U.S. and emerging markets. Results beat estimates. Shares were 1.3% lower before the bell as guidance was weak.
McAfee (MFE) said its chief financial officer, Rocky Pimentel, will retire after less than a year on the job. It also reported that fourth-quarter net income rose as revenue was up 24%. Excluding items, McAfee's earnings were inline with estimates.
Google (GOOG) on Thursday submitted the rebuttal to a Justice Department's belief that its settlement reached with U.S. authors and publishers more than 14 months ago would thwart competition in the book market and undermine copyright law. Google's court filing defended the $125 million settlement.
RealNetworks (RNWK) reported a much narrower fourth-quarter loss, but also a decline in revenue and expects revenue to drop sequentially this quarter, but grow up to 15%.
Yahoo (YHOO) co-founders Jerry Yang and David Filo plan to sell up to 5 million of the company's shares.
Stamps.com (STMP), which allows consumers to print postage approved by the U.S. government from their computer, said Thursday its fourth-quarter net profit rose 36% although revenue fell 3%. Excluding items, results beat estimates.
Duke (DUK) is due to report financial results today.