Halliburton (HAL) reported fourth-quarter earnings of 68 cents a share on revenue of $5.2 billion. Analysts, on average, expected earnings of 63 cents a share on revenue of $4.87 billion. The company said it achieved double-digit sequential revenue and operating income growth in both North America and international operations during the quarter. Halliburton also mentioned a "dramatic recovery" in the North America market during the period. Shares of the company rose 0.1% to $39.21 in premarket trading Monday.
J.C. Penney (JCP) said Monday it plans to close certain underperforming stores and wind down its catalog and outlet operations. Shares of the company rose 2.8% to $31.18.
Rock-Tenn (RKT) said Sunday that it plans to buy Smurfit-Stone Container (SSCC) for $3.5 billion. Rock-Tenn was down 2.9% to $55.53** in premarket trading, while Smurfit-Stone popped by 23.9% to $34.10.
Sanofi (SNY) extended its offer of $69 a share, or $18.5 billion, for Genzyme (GENZ) to Feb. 15. Sanofi fell 0.4% to $34.38 in early trading. Genzyme was up 0.8% to $72.14 at the closing bell Friday.
Novartis (NVS), the Swiss drugmaker, agreed to acquire Genoptix (GXDX) for $25 a share, or $470 million. Novartis was 0.3% higher at $56.58** in premarket trading, while Genoptix surged by 25.8% to $24.86.
A slate of earnings reports are expected Monday. American Express( AXP ) is expected to report fourth-quarter earnings after the market close. Analysts expect EPS of 94 cents on revenue of $7.29 billion; Texas Instruments (TXN) is slated to announce fourth-quarter earnings after the closing bell. American Express fell 0.3% to $45.85 in early trading. Premarket quotes weren't available for Texas Instruments; shares of the company ended flat at $33.91 on Friday.
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