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Pre-market Movers For Jan 19 (BAC, MS, UNH, EBAY, JCI, BKU, EK, BLK)

Gainers:

Bank of America Corp. (BAC) is rising over 6 percent to $7.24 as it swung to a profit in its fourth quarter. Total revenue, net of interest expense, increased from the year-ago quarter. The company said it significantly increased capital and liquidity during the quarter.

Morgan Stanley (MS) is rising 5 percent to $18.24. The company slipped to a loss in its fourth quarter, compared to a profit in the year-ago quarter. On an adjusted basis, the loss was narrower than estimates. Revenues also exceeded expectations. The company said it is well positioned to deliver improved returns to shareholders in 2012 and beyond.

UnitedHealth Group Inc. (UNH) is gaining 1 percent to $54.54 as the company's fourth quarter profit improved from the prior year period. The company said that the quarter was highlighted by strong enrollment and revenue growth in each of its UnitedHealthcare's benefits businesses and strong revenue growth at all Optum business units.

eBay Inc. (EBAY) is up over 3 percent to $31.28. The company's fourth quarter profit surged from the prior year, primarily reflecting a gain on the sale of its investment in Skype. Non-GAAP earnings per share and net revenues were above Wall Street estimates. However, the company expects first quarter non-GAAP earnings per share and net revenues below consensus.

F5 Networks, Inc. (FFIV) is gaining over 8 percent to $117.55. The company's first quarter profit rose from the year-ago quarter. Revenue rose 19.9 percent. Both earnings per share and revenue were above Wall Street view.

Decliners:

Johnson Controls, Inc. (JCI) is falling over 4 percent to $33.99 as the company's first quarter earnings and net sales were below Wall Street view. The company forecast second quarter earnings below consensus and also lowered its fiscal 2012 earnings guidance range.

BankUnited, Inc. (BKU) is plunging 12 percent to $22.00 as the company scraped its sale process and stated that it will continue as an independent institution.

Trading in shares of Eastman Kodak Co. (EK) was halted. The company has filed for bankruptcy protection for business reorganization. The company has obtained a $950 million loan from Citigroup Inc. (C) and expects to emerge from the restructuring in 2013.

BlackRock, Inc. (BLK) is falling nearly 1 percent to $186.05. The company's fourth quarter profit and revenues declined from then last year period. Adjusted earnings per share were above analysts' estimate.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Sobeys Inc. is cutting 800 jobs across Canada as part of the grocery store chain's efforts to cut costs and streamline its organization. Sobeys is Canada's second-largest grocery chain behind Loblaw Companies Ltd. The job cuts come as Sobeys, like others in the industry, grapple with stiff competition from rivals, higher costs and technological change. This year's holiday shopping season has got off to a strong start. Online shoppers spent $1.52 billion on Thanksgiving Day, with smartphones accounting for 46 percent of all traffic to U.S. retail websites, according to Adobe Analytics data. The $1.52 billion in online spend by Thanksgiving evening represents 16.8 percent growth from last year, according to the data. Shares of thyssenKrupp AG were gaining around 2 percent in the morning trading in Germany after the steel giant Thursday said it expects clearly positive net income and significantly higher adjusted EBIT, a key earnings metric, in fiscal 2018. This was after reporting higher adjusted EBIT, sales and order intake in its fiscal 2017, despite a net loss due to charges.
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