Among the companies with shares expected to actively trade in
Wednesday's session are Advanced Micro Devices Inc. (AMD), Coach
Inc. (COH) and International Business Machines Corp. (IBM).
Advanced Micro Devices swung to a profit in the fourth quarter
as sales received a boost from demand for new gaming consoles. But
the chip maker also projected a decline in revenue for the first
quarter, sending shares down 9.4% to $3.78 premarket.
Coach said its fiscal second-quarter earnings dropped 16% as the
handbag-and-accessories retailer's North American business
continued to falter, offsetting growth in other segments. Coach
shares fell 6.8% to $49 in premarket trading as results missed
expectations.
Cree Inc. (CREE) said its fiscal second-quarter earnings rose
75% on broad sales growth for the maker of LED lighting products
and semiconductor components. Shares edged up 2.5% to $64.39
premarket.
FirstEnergy Corp. (FE) gave 2014 earnings guidance that was
mostly lower than analysts' expectations. The power company again
narrowed its 2013 per-share earnings view to $2.95 to $3.05, from
its previously narrowed estimate of $2.90 to $3.10. Shares edged
down 1.2% to $31.75 in light premarket trading.
General Dynamics Corp. (GD) said it swung to a fourth-quarter
profit, while revenue edged up modestly. Results topped
expectations, but shares edged down 1.8% to $93.55 premarket.
International Business Machines reported a decline in annual
revenue for the second-straight year, and failed to exceed $100
billion for the first time since 2010, as the computing giant was
stung by a particularly sharp decline in hardware sales. Shares
dropped 3.6% to $181.65 premarket.
Motorola Solutions Inc. (MSI) said its fourth-quarter earnings
climbed 2.1% as its government services segment returned to growth.
But the company gave a sharply disappointing outlook for its first
quarter, sending shares down 8.3% to $61.55 premarket.
Norfolk Southern Corp. (NSC) said its fourth-quarter earnings
rose 24% as strength in the railroad operator's general merchandise
and intermodal units offset continued weak coal demand. Results
beat expectations, pushing shares up 3.6% to $91.88 premarket.
Nuance Communications Inc. (NUAN) posted preliminary results for
its fiscal first quarter that came in above the company's
expectations. Shares climbed 7.8% to $16.05 premarket.
Parker Hannifin Corp.'s (PH) fiscal second-quarter earnings rose
40% as the maker of motion and control equipment's orders continued
to grow and gains from a joint-venture agreement with General
Electric Co. (GE) offset a costly write-down. Adjusted earnings
were ahead of expectations, yet the company lowered its per-share
earnings estimate for the year. Shares dropped 3.8% to $122
premarket.
Super Micro Computer Inc.'s (SMCI) fiscal second-quarter profit
more than doubled as the servers maker reported a double-digit jump
in sales and higher gross margins. The latest results topped Super
Micro's expectations and the company issued a rosy outlook for the
fiscal third quarter. Shares surged 12% to $20.79 premarket.
Watch List:
Bob Evans Farms Inc. (BOBE) tempered expectations for the
current fiscal year, as the food and restaurant giant became the
latest consumer-focused company to blame poor results on severe
winter weather.
CA Inc. (CA) said its fiscal third-quarter profit fell 7.6% as
the software maker posted a drop in its top line, dragged down by a
revenue decline in its key subscription and maintenance business.
Results surpassed expectations and the company again boosted its
guidance for the fiscal year.
Cinemark Holdings Inc. (CNK) has extended the movie-theater
chain's contract with its chief executive and promoted financial
chief Robert Copple to the president and chief operating officer
roles.
Entergy Corp. (ETR) forecast better-than-anticipated
fourth-quarter earnings, though the utilities company said its
results will be well below those from a year earlier.
Marriott International Inc. (MAR) plans to acquire 116 hotels in
seven African countries currently owned by Protea Hospitality
Holdings in a deal worth $186.6 million.
Northern Trust Corp. (NTRS) said its fourth-quarter profit
improved 1.2% as fees and net interest income improved.
St. Jude Medical Inc. (STJ) said its fourth-quarter earnings
rose 2.5% as the medical-device maker continued to post modest
sales growth. Profit hit the high end of the company's prior
view.
Texas Instruments Inc. (TXN) posted a 94% jump in fourth-quarter
profit and announced plans to trim about 1,100 jobs, as the big
chip maker continues to refine its focus.
United Technologies Corp. (UTX) said its fourth-quarter earnings
fell 29%, despite stronger revenue, on fewer contributions from
businesses the company has discontinued as it realigned its
portfolio. Revenue missed expectations.
U.S. Bancorp (USB) said its fourth-quarter earnings rose 2.5% as
the lender benefited from lower tax costs and credit-loss
provisions, offsetting a substantial drop in mortgage-banking
revenue. Earnings just topped expectations.
Xilinx Inc. (XLNX) said its fiscal third-quarter earnings rose
70% on a second straight quarter of revenue growth.
Write to Lauren Pollock at lauren.pollock@wsj.com and John Kell
at john.kell@wsj.com
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