Comerica Inc. (CMA) is gaining 6 percent to $32.75. The company's first quarter profit increased from the previous year and earnings per share were above Wall Street view. The company expects a moderate increase in net interest income and a relatively stable non-interest income.
U.S. Bancorp (USB) is gaining over 1 percent to $31.60. The company first quarter profit improved from the previous year period, and also topped analysts' estimate.
Johnson & Johnson (JNJ) is rising 0.50 percent to $64.30. The company's first quarter profit rose from the year-ago quarter, and adjusted earnings per share were above Wall Street view. However, worldwide sales declined 0.2 percent and were below consensus. The company raised its earnings guidance for full-year 2012 to reflect the positive impact of current exchange rates.
Coca-Cola Co. (KO) is up more than 1 percent to $73.25. The company's first quarter profit increased from the prior year quarter, and earnings per share were above Wall Street view. Net operating revenues rose 6 percent and were also above consensus.
Goldman Sachs Group, Inc. (GS) is falling 0.33 percent to $73.25. The company's net earnings applicable to common shareholders jumped 128 percent from the previous year, and were above Wall Street view. However, net earnings fell 23 percent from the year-ago quarter. Total net revenues declined 16 percent from the year-ago quarter, but were above consensus. Meanwhile, net revenues from institutional client services and investment banking declined 14 percent and 9 percent, respectively. In addition, the company's board increased quarterly dividend to $0.46.
First Solar, Inc. (FSLR) is down 1 percent to $20.57. The company announced that it is restructuring its operations, which will reduce its global workforce by approximately 2,000 positions, about 30 percent of the total. The company said it is taking these actions in response to deteriorating market conditions in Europe and to reduce costs and align its organization with sustainable market opportunities.
Trading in shares of SRS Labs Inc. (SRSL) was halted. DTS, Inc. (DTSI) has agreed to acquire the company in a cash-and-stock transaction valued at $9.50 per share.
by RTT Staff Writer
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