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Verizon, Apple: Tuesday's Headlines

NEW YORK (TheStreet) -- Here are the top stock market headlines for the morning of Tuesday, Jan. 26, 2010.

Tuesday's Earnings Roundup

  • Verizon (VZ) posted fourth-quarter adjusted earnings of 54 cents a share, matching the Thomson Reuters consensus estimate. Results excluded one-time items, including a $3 billion charge for severance and other layoff costs. Revenue rose nearly 10% from a year ago to $27.1 billion, slightly below the average estimate of $27.3 billion.
  • Johnson & Johnson (JNJ) reported an adjusted fourth-quarter profit of $1.02 a share, a nickel better than the Thomson Reuters average estimate. Sales climbed 9% to $16.55 billion, also better than consensus. Looking ahead, J&J offered in-line earnings guidance for 2010.
  • AmerisourceBergen (ABC) said it earned 52 cents a share in its fiscal first quarter, above the consensus target of 46 cents a share, according to Thomson Reuters. Revenue climbed 11.5% to $19.34 billion, also better than analysts expected. For 2010, AmerisourceBergen offered earnings and revenue guidance that is in line with forecasts.
  • Delta Air Lines (DAL) notched a fourth-quarter adjusted loss of 27 cents a share, a wider loss than analysts had predicted. Revenue was down 12.4% from a year ago to $6.8 billion, also slightly below consensus.
  • DuPont (DD) posted an adjusted fourth-quarter profit of 44 cents a share, above the Thomson Reuters average estimate of 41 cents a share. Revenue rose 10% from a year ago to $6.42 billion, also above consensus. For 2010, DuPont upped its earnings guidance to a range of $2.15 to $2.45 a share from the prior range of $2.10 to $2.40 a share. Analysts are expecting a full-year profit of $2.26 a share.
  • Travelers Companies (TRV) reported a fourth-quarter adjusted profit of $2.12 a share, much better than the Thomson Reuters average estimate of $1.49 a share thanks to high retention rates. Travelers posted $6.5 billion in revenue during the fourth quarter, an increase of 11% from the prior year quarter.
  • Novartis (NVS) said fourth-quarter net income rose 54% to $2.3 billion and the Swiss drugmaker named a new chief executive. The company named Joe Jimenez, currently division head of the pharmaceutical business as the company's new CEO. He will succeed Daniel Vasella who will remain chairman.
  • Apple (AAPL) late Monday reported fiscal first-quarter earnings of $3.67 a share, blowing past the Thomson Reuters average estimate of $2.07 a share. Revenue jumped 32% to $15.68 billion, also well ahead of forecasts. For the second quarter, Apple said it expects earnings of $2.06 to $2.18 a share on revenue of $11 billion to $11.4 billion, well ahead of the Thomson Reuters average estimate for a profit of $1.77 a share on sales of $10.37 billion.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

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