Starbucks (SBUX - Get Report) beat Wall Street profit expectations for its fiscal fourth-quarter by a penny on better-than-expected revenue. But the coffee chain gave a fiscal 2012 outlook below analysts' expectations as it expects rising commodity costs. The stock was rising 3.9% to $43 in premarket trading.
Alcatel-Lucent (ALU - Get Report), the technology company, posted improved third-quarter profit but cut its profit and sales forecasts for 2011 on uncertainty in Europe. The stock was falling 13.4% in premarket trading to $2.39.
AIG (AIG - Get Report) posted its biggest quarterly loss since 2009, hurt by declining markets and an impairment charge on its plane-leasing subsidiary. AIG also announced a plan to buyback $1 billion worth of common shares. AIG shares were off 3.4% to $23.80.
CBS (CBS - Get Report) said third-quarter earnings topped analysts' expectations, but revenue, despite rising 2% to $3.37 billion, came in below forecasts. CBS said sales benefited from new online streaming partnerships. The stock was down less than 1% to $24.38 in premarket trading.
Google (GOOG - Get Report) said it is altering its search algorithm to include more time sensitive, relevant content. The change, which comes as Google's usefulness as a real-time search site is challenged by Facebook and Twitter, will affect about 35% of all searches. Google previously incorporated real-time search into its results through a partnership with Twitter, but this feature was disabled in July when the two failed to renew their contract. The stock was down 49 cents to $597.01.
Bank of New York Mellon (BK) is negotiating with federal prosecutors to resolve a civil suit over currency trades that could pave the way to settlements of $2 billion in lawsuits, according to a report in The Wall Street Journal.
Earnings reports are expected from Berkshire Hathaway (BRK.A - Get Report) and KKR (KKR - Get Report).
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