Skip to main content


NEW YORK (TheStreet) -- Industrial and commercial products company Ingersoll-Rand (IR) - Get Free Report lowered its third-quarter earnings projection to 77 cents to 80 cents a share, down from a prior forecast of 85 cents to 95 cents a share.

Shares were falling 8.5% to $29.26 in premarket trading Friday.

Boise, Idaho.-based chipmaker

Micron Technology

(MU) - Get Free Report

posted a

surprise

quarterly loss on flat sales and declining margins.

The company said it lost $135 million, or 14 cents a share, for the fourth quarter on revenue totaling $2.14 billion, down from a year-ago profit of $342 million, or 32 cents a share, on revenue of $2.49 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of a penny per share in the latest quarter on revenue of $2.11 billion.

Micron also gave a word of warning to investors about the coming jury decision in its antitrust case with

Rambus

(RMBS) - Get Free Report

, saying it can't "reasonably" estimate the range of possible losses from the suit.

Micron shares were plunging 5.6% to $5.54.

Financial services firm

Morgan Stanley

(MS) - Get Free Report

is being priced in the credit- default swaps market as less creditworthy than most U.S., U.K. and French banks and as risky as Italy's biggest lenders, according to

Bloomberg

.

Shares were falling 3.4% to $14.58.

Bank of America

(BAC) - Get Free Report

plans to charge a $5 monthly fee for debit card purchases starting early next year.

Shares were down 1.4% to $6.26.

Former

Hewlett-Packard

(HPQ) - Get Free Report

CEO Leo Apotheker, who was ousted from the company after just 11 months on the job, will be walking away with more than $13 million in cash and stock, according to reports.

Shares were down 1.4% to $23.46.

International Business Machines'

(IBM) - Get Free Report

market value exceeded that of

Microsoft's

(MSFT) - Get Free Report

on Thursday for the first time based on closing prices since 1996, according to

Bloomberg

data.

IBM's market value rose to $214 billion Thursday, while Microsoft's fell to $213.20 billion, rendering it the world's second-most valuable technology company.

Bloomberg

reported this is indicative of industry changes, such as the shift away from the personal computer.

Shares of both tech companies were falling amid disappointing economic data that exacerbated worries about global economic growth. IBM shares were down 1.1% to $177.17 and Microsoft shares were down 0.8% to $25.25.

McGraw-Hill

(MHP)

is in

advanced talks

with

CME Group

(CME) - Get Free Report

to form a stock-market indexes venture,

The Wall Street Journal

reported, citing people familiar with the situation.

Tech support software and services company

Support.com

(SPRT) - Get Free Report

forecast a wider-than-anticipated loss for its third quarter.

The company said it

now

sees a non-GAAP loss of 10 cents to 12 cents a share on revenue of between $12.3 million and $12.6 million for the three months ended Sept. 30. The average estimate of two analysts polled by Thomson Reuters was for a loss of 6 cents a share in the quarter on revenue of $15.7 million.

Support.com attributed the shortfall to weak retail demand and also said it has amended its deal with

Comcast

(CMCSA) - Get Free Report

to provide "incremental sales revenue" for Support.com while extending the dates on warrants held by Comcast on Support.com common shares.

Wireless applications company

CalAmp

(CAMP) - Get Free Report

beat

Wall Street expectations with its second-quarter adjusted profit of $3 million, or 11 cents a share, on revenue of $33.8 million and gave an above-consensus outlook.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here:

Andrea Tse

.

Related links:

Against the Spread: 2011 NFL Picks: Week 4

Wall Street's Favorite Industry and the Four Stocks It's Buying

Copyright 2011 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.