Sirius, Qwest: Premarket Trading
NEW YORK (TheStreet) -- Satellite radio company Sirius XM (SIRI) reported a loss of $81.4 million during the fourth quarter as operating service expenses rose.
Shares of Sirius fell 6.6% to $1.71 during premarket trading Tuesday.
Risk management company Marsh & McLennan (MMC) said its fourth-quarter net income skyrocketed to $203 million, or 37 cents a share, from net income of $23 million, or 4 cents a share, a year ago, while revenue grew about 9% to $2.80 billion from $2.56 billion.
The Wall Street consensus called for earnings of 39 cents a share on revenue of $2.74 billion.
Premarket quotes weren't reported for the stock. Shares of the company rose 0.2% to $28.87 at the market close Monday.Data communications company Qwest (Q) reported a fourth-quarter net loss of $161 million, or 9 cents a share, compared with net income of $108 million, or 6 cents a share, the same time last year. Excluding special items, the company had earnings of 12 cents a share. Operating revenue fell about 3% to $2.90 billion from $2.99 billion the year before. Analysts, on average, were calling for earnings of 10 cents a share on revenue of $2.90 billion. Shares of the company were down 0.1% to $7.41 in premarket trading Tuesday.
The Deutsche Boerse and NYSE Euronext (NYX) are expected to announce their merger Tuesday. The merger would create the world's largest exchange operator. Once Deutsche Boerse completes its takeover agreement with NYSE Euronext, the parent of the New York Stock Exchange, the 17-member board of the combined firm will mostly be drawn from the Germany company, The Wall Street Journal reports. Shares of NYSE Euronext popped 1.4% to $40 in premarket trading.
Transportation services company FedEx (FDX) has cut back its current quarter guidance due to severe weather and rising fuel prices. FedEx shares were up 0.5% to $94.50 in premarket trading, after dipping in the red earlier.
Tech giant Dell (DELL) reports after Tuesday's closing bell. The average estimate of analysts polled by Thomson Reuters is for earnings of 37 cents a share in its fiscal fourth quarter ended in January on revenue of $15.71 billion. Dell, which has topped the consensus profit view for three straight quarters but seen its stock remain roughly flat for the past year, had been enjoying a refresh cycle following the release of Windows 7 in late 2009, but without that, the company has tough comps. Shares of the company settled at $14.09, up 0.9% at the closing bell Monday. Premarket quotes weren't available for the stock.
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