U.S. stock index futures edged up on Thursday, rebounding after a 1-percent drop in key indexes a day earlier, following the Federal Reserve’s decision to continue paring stimulus despite a selloff in emerging markets. Dow Jones industrial average futures were up 0.32 percent at 15,749, S&P 500 futures were up 0.16 percent at 1,774.1 and Nasdaq 100 futures were up 0.40 percent at 3,487.
** EXXON MOBIL CORP, Wednesday close $95.11, -0.74 pct premarket
The world’s most valuable publicly traded oil company said its quarterly profit dropped 16 percent as production fell. For the fourth quarter, the company posted net income of $8.35 billion, or $1.91 per share, compared with $9.95 billion, or $2.20 per share, in the year-ago period. Total oil and natural gas production fell 1.8 percent from the year-ago period.
** BOEING CO, Wednesday close $129.78, +0.62 pct premarket
U.S. Air Force and Boeing officials on Wednesday expressed confidence that a $52 billion air refueling program would deliver its first 18 planes by August 2017 as scheduled, despite a Pentagon report warning that testing of the new aircraft could be delayed by at least six to 12 months.
** VISA INC, Wednesday close $217.12, +3.17 pct premarket
The world’s largest credit and debit card company reported a better-than-expected 9 percent rise in quarterly profit as more people used cards instead of cash to make payments.
** MASTERCARD, Wednesday close $77.7, +2.19 pct premarket
The company suffered a blow in a five-year fight against an EU ban on cross-border card fees as an adviser to Europe’s top court backed regulators’ efforts to cut card costs.
** ELI LILLY AND CO, Wednesday close $53.91, -1.69 pct premarket
The drugmaker’s quarterly revenue fell far less than expected, as plunging sales of its Cymbalta depression treatment were largely offset by higher sales for most of its other prescription drugs.
** COLGATE-PALMOLIVE CO, Wednesday close $61.59, +3.91 pct premarket
The world’s largest toothpaste maker, reported a better-than-expected quarterly profit as cost cuts helped the company offset the negative impact of a stronger dollar.
** HARLEY-DAVIDSON INC, Wednesday close $64.04
The iconic motorbike maker reported a higher quarterly profit on Thursday, lifted by growing global sales of its motorcycles.
** CONOCOPHILLIPS, Wednesday close $65.82, +0.41 pct premarket
The largest U.S. oil company without refining operations said its fourth-quarter profit rose with help from the sale of its Algerian business and lower taxes.
** NORTHROP GRUMMAN CORP, Wednesday close $112.13, +0.88 pct premarket
The U.S. weapons maker reported a 10 percent fall in quarterly profit, partly due to lower sales in its aerospace business.
** INVESCO LTD, Wednesday close $33.05
The company which oversees the PowerShares line of exchange-traded funds said its fourth-quarter profit jumped 81 percent, helped by strong markets and sales of alternative and equity products.
** BLACKSTONE GROUP LP, Wednesday close $30.93, +6.69 pct premarket
The world’s largest publicly listed alternative asset manager reported a 130-percent rise in fourth-quarter profit, showing particularly strong gains in its real estate business.
** 3M CO, Wednesday close $130.25, +0.19 pct premarket
The diversified manufacturer posted an 11 percent rise in fourth-quarter net income, helped by higher profit across most of its business lines.
** WEATHERFORD INTERNATIONAL LTD, Wednesday close $13.82, -3.33 pct premarket
The oilfield services company said it would cut 7,000 jobs and estimated fourth-quarter profit below its previous expectation, hurt partly by disrupted operations in the Middle East.
** DOVER CORP, Wednesday close $89.68
The maker of pumps, drill bits and other industrial products posted a higher quarterly profit, helped by higher sales in its engineered systems business. [ID: nL3N0KX4PS]
** OCCIDENTAL PETROLEUM CORP, Wednesday close $87.82
The company said its fourth-quarter profit jumped from a year earlier when it wrote down the value of gas properties in the U.S. midcontinent by $1.1 billion. [ID: nL3N0L43H1]
** UNDER ARMOUR INC, Wednesday close $85.22, +12.65 pct premarket
The company reported a quarterly profit and gave a full-year revenue forecast that beat analysts’ estimates, driven by increased sales of its athletic apparel, footwear and accessories.
** CEVA INC, Wednesday close $15.84
The Israeli mobile chip designer reported higher quarterly net profit and revenue that beat analysts’ expectations as the company broadened its portfolio of products and secured new customers.
** POTASH CORP OF SASKATCHEWAN, Wednesday close $31.83, -4.40 pct premarket
The world’s biggest fertilizer company reported a sharply lower quarterly profit and produced 2014 forecasts that were below Wall Street expectations. The company’s disappointing outlook shows that the global potash market has far to go to recover from a slide in prices, due to years of soft demand, burgeoning supplies and last summer’s breakup of rival Belarusian Potash Company.
** UNITED PARCEL SERVICE INC, Wednesday close $95.33, +0.70 pct premarket
The company posted fourth-quarter profit that met expectations and said a surge in online shopping just before Christmas led to late deliveries and higher costs.
** TIMKEN CO, Wednesday close $54.53
The company, which makes specialty steel and ball bearings, posted a 30 percent fall in quarterly profit, hurt by weak demand from several customers, including the mining industry.
** MANPOWERGROUP INC, Wednesday close $79.36
the world’s No.3 staffing company, said its fourth-quarter profit nearly doubled, helped by improved hiring in Europe and cost-cutting measures.
** ORAMED, Wednesday close $25.97, +7.78 pct premarket
The Israeli developer of oral drug delivery systems said a mid-stage trial for its oral insulin capsule for the treatment of type 2 diabetes met all primary and secondary endpoints.
** GOOGLE INC, Wednesday close $1,106.92, +2.52 pct premarket
Lenovo Group said on Wednesday it agreed to buy Google’s Motorola handset division for $2.91 billion, in what is China’s largest-ever tech deal as Lenovo buys its way into a heavily competitive U.S. handset market dominated by Apple Inc . It is Lenovo’s second major deal on U.S. soil in a week as the Chinese electronics company angles to get a foothold in major global computing markets. Lenovo last week said it would buy IBM’s low-end server business for $2.3 billion.
** FLEXTRONICS INTERNATIONAL LTD, Wednesday close $7.7, +7.14 pct premarket
The contract electronics maker forecast current-quarter revenue largely above Wall Street estimates and said it planned to reduce its workforce and undertake other cost cuts. China’s Lenovo Group Ltd, which is also a Flextronics customer, said on Wednesday it would acquire Google Inc’s Motorola Mobility smartphone business.
Citigroup raised its price target on the stock.
** WHIRLPOOL CORP, Wednesday close $141.63, +1.53 pct premarket
The company’s quarterly profit jumped 48 percent due to strong sales gains in North and South America, and Whirlpool indicated its 2014 earnings would be broadly in line with analysts’ forecasts.
** TIME WARNER CABLE INC, Wednesday close $132.1
The second-largest U.S. cable operator which recently rejected a takeover offer from Charter Communications Inc , posted better-than-expected quarterly results as its high-speed data subscribers opted for expensive plans.
** THERMO FISHER SCIENTIFIC INC, Wednesday close $111.75, +4.70 pct premarket
The world’s largest laboratory equipment maker reported a better-than-expected quarterly profit as sales rose across its businesses.
** VIACOM INC, Wednesday close $80.97
The company reported lower-than-expected revenue for the first quarter as its studio Paramount Pictures released fewer movies and the home entertainment business reported lower sales.
** PULTEGROUP INC, Wednesday close $19.43, +3.19 pct premarket
The No. 2 U.S. homebuilder, reported a 9 percent rise in revenue from home sales as low supply allowed the company to sell houses at higher prices.
** FACEBOOK INC, Wednesday close $53.53, +19.04 pct premarket
** TWITTER INC, Wednesday close $59.45, +7.82 pct premarket
Facebook’s stock was set to open at a life high after the world’s largest social networking company’s resounding revenue growth underscored CEO Mark Zuckerberg’s success in selling ad space on the social network’s mobile app. At least 20 brokerages raised their price targets on Facebook’s shares, which were trading at $61.30 before the bell on Thursday.
Microblogging site Twitter’s shares were also up on the news.
** TARGET CORP, Wednesday close $56.89
The company said on Wednesday that the theft of a vendor’s credentials helped cyber criminals pull off a massive theft of customer data during the holiday shopping season in late 2013.
** AVEO ONCOLOGY, Wednesday close $1.77, -14.69 pct premarket
The company said it would end a mid-stage trial testing its lead drug as a treatment for breast cancer, as the company did not have enough patients enrolled in the study. Aveo, which was developing the drug with Japan’s Astellas Pharma Inc, said enrollment in the study had been slower than expected and did not improve despite efforts to recruit more patients.
** ORACLE CORP, Wednesday close $36.97, -0.89 pct premarket
CEO Larry Ellison played down concerns on Wednesday about possible government snooping in his business customers’ private data.
** QUALCOMM INC, Wednesday close $71.12, +2.36 pct premarket
The leading mobile chipmaker reported higher fiscal first-quarter revenue that slightly missed estimates as smartphone growth shifted to China, but it bumped up its full-year earnings outlook and said 2014 was playing out as expected. Qualcomm expects demand to grow later this year as leading mobile carrier China Mobile rolls out cellphone services using the advanced LTE technology Qualcomm dominates.
At least two brokerages raised their price targets on the stock to $86.
** STARBUCKS CORP, Wednesday close $71.56, +0.27 pct premarket
Chief Executive Howard Schultz on Wednesday said he was promoting CFO Troy Alstead to the new position of chief operating officer, allowing Schultz to focus on keeping the coffee shop chain ahead of the curve in retail technology including mobile payments.
** JOHNSON & JOHNSON, Wednesday close $88.9, +0.28 pct premarket
The company has selected the Yale School of Medicine to review requests from investigators and physicians looking for access to clinical trial data involving the diversified healthcare company’s pharmaceuticals.
** DIAGEO, Wednesday close $127.08, -4.51 pct premarket
The world’s biggest distilled drinks company, reported a slowdown in sales growth in the last six months after demand in China and some other important emerging markets dropped sharply.
** NEUSTAR INC, Wednesday close $43.75, -25.37 pct premarket
The company which routes phone calls and manages databases used by North American telecom carriers, forecast a full-year adjusted profit below estimates.
** KALOBIOS PHARMACEUTICALS INC, Wednesday close $4.65, -28.39 pct premarket
The company said it would stop developing asthma drug KB003 after it failed to bring about a clinically meaningful improvement in the pulmonary function of patients with severe asthma when tested against a placebo in 160 patients in a mid-stage study.
Needham & Co downgraded the stock while at least one brokerage cut its price target.
** SYMANTEC CORP, Wednesday close $24.15, -1.66 pct premarket
The maker of Norton anti-virus software reported a 5 percent fall in quarterly revenue as a decline in sales of personal computers hurt demand for its security software.
** CITRIX SYSTEMS INC, Wednesday close $57.6, -8.77 pct premarket
The cloud-computing software maker forecast current-quarter and 2014 earnings far below analysts’ estimates, citing “uneven” closure of some contracts, and said its long-time CEO would retire next year.
At least five brokerages downgraded the stock while a few others cut their price targets.
** SERVICENOW INC, Wednesday close $57.6, +8.25 pct premarket
The software company focused on IT infrastructure reported a 67 percent rise in fourth-quarter revenue as it added more customers.
** W.R. GRACE & CO, Wednesday close $93.71
The chemical maker received approval to line up about $1.55 billion in bankruptcy exit financing, a court filing showed on Tuesday. Grace will use the money to pay all outstanding claims, including $1.1 billion to its lenders, removing the last obstacle to its emergence out of bankruptcy protection.