(Premarket story updated with Navistar news and share price information.)
NEW YORK (TheStreet) -- Navistar (NAV) said Wednesday that its fourth-quarter earnings declined as the North American truck market has remained weak. Navistar's earnings came in at $39 million, or 54 cents a share, down from $86 million, or $1.19 a share in the same period a year earlier.
Shares of the company were falling 0.52%, or 31 cents, to $58.86 in premarket trading.
Walgreen (WAG) reported that its first-quarter earnings increased 26.5% to 62 cents a share from 49 cents a share in the same period a year earlier. Earnings came in ahead of analyst estimates of 54 cents a share. Shares of the company were up 0.46%, or 17 cents, to $37 in premarket trading.
Oxford Industries (OXM) announced its acquisition of Sugartown Worldwide, which owns the women's brand Lilly Pulitzer. Shares of Oxford, an Atlanta-based fashion apparel maker, rose 9.83%, or $2.18, to $24.35 in premarket trading.
American Airlines, the main unit of AMR (AMR), said after Tuesday's close that it will no longer offer access to its flights and fares through Orbitz Worldwide's (OWW) namesake travel reservations Web site. AMR shares rose 1.12%, or 9 cents, to $8.14 in premarket trading, while Orbitz was falling 2.8%, or 18 cents, to $6.26.
Microsoft (MSFT) plans to reveal a new Windows operating system next month that relies less on chip technology from Intel (INTC) and more on chips based on designs from ARM Holdings (ARMH) of the U.K., reports say. ARM Holdings shares rose 3.84%, or 76 cents, to $20.54 in premarket trading Wednesday.
Nike (NKE) released better-than-expected earnings on Tuesday, but future orders rose less than expected. The company reported that futures orders, which refer to Nike merchandise to be delivered between December 2010 and April 2011, was up 11% to $7.7 billion. Analyst Sterne Agee was looking for order growth somewhere between 12% and 13%, according to a Dec. 9 research note previewing the quarter. Shares of the company fell 5.75%, or $5.29, to $87.01 in premarket trading.
Xilinx (XLNX), a programmable logic chips maker, said late Tuesday that it expects a sequential sales decline in the current quarter to be deeper than previously anticipated because of weak demand from some of its large wireless communications customers. Xilinx was dropping 4.61%, or $1.31, to $27.08 in premarket trading. Xilinx's main competitor Altera (ALTR) is also down in premarket trading, falling 2.23%, or 80 cents, to $35.01.
Investors were modestly disappointed that business software maker Red Hat (RHT) reported third-quarter earnings inline with Wall Street's expectations yesterday, after technology companies OracleC (ORCL), Accenture (ACN) and Research in Motion (RIMM) released stronger-than-expected earnings last week. Red Hat earnings came in at in at 20 cents, inline with what analysts were expecting. Shares of the company fell 2.67%, or $1.28, to $46.60 in premarket trading.
|More on Earnings Today's Top Earnings|
>To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV