Stocks to Watch: General Motors, Nvidia (Update 1)
NEW YORK (
) --
General Motors
(GM) - Get Report
missed fourth-quarter earnings estimates by a penny as it lost money in both Europe and South America.
During the quarter, including items, the automaker earned $500 million, or 28 cents a share, including a net loss from special items of 11 cents. Excluding items, the company earned 40 cents a share. Analysts surveyed by Thomson Reuters had estimated 41 cents.
Looking forward, GM said that 2012 will bring "continued pricing improvement with cost inflation well contained, while product mix and pension expense are expected to be unfavorable." Revenue is expected to grow.
GM shares fell 3.6% to $24.43 in premarket trading Thursday.
The credit ratings of
Morgan Stanley
(MS) - Get Report
,
UBS
(UBS) - Get Report
and
Credit Suisse
(CS) - Get Report
could be cut three notches by Moody's because of the risks associated with the eurozone debt crisis.
Moody's is reviewing the long-term ratings of 17 global and 114 European financial institutions. The ratings agency said the "guidance is indicative only."
Morgan Stanley shares declined 4.2% to $18.72 in premarket trading.
NetApp
(NTAP) - Get Report
, the data storage software company, posted in-line results for its fiscal third quarter and provided a fourth-quarter outlook that sits within analysts' ranges.
NetApp reported non-GAAP profit of $216 million, or 58 cents a share, for quarter ended in January on revenue of $1.57 billion, matching analysts' estimates.
For its fiscal fourth quarter ending in April, NetApp said it expects non-GAAP earnings of 60 cents to 65 cents a share on revenue ranging from $1.65 billion to $1.73 billion. Analysts forecast profit of 63 cents a share on revenue of $1.68 billion.
Shares rose 11.6% to $43.51.
Nvidia
(NVDA) - Get Report
, the graphics chipmaker, forecast revenue of $900 million to $930 million for its fiscal first quarter ending in April. Analysts were expecting sales of $944.6 million.
Nvidia shares fell 6% to $15.18 in premarket trading.
DirecTV
(DTV)
, the satellite TV company, said fourth-quarter profit rose 16% to $718 million, or $1.02 a share.
Revenue rose 13% to $7.46 billion.
DirecTV said it added a net 590,000 subscribers in December in Latin America. But U.S. subscriber additions fell to 125,000 from the 289,000 added last year.
Analysts were expecting fourth-quarter earnings of 92 cents a share on revenue of $7.41 billion.
The stock rose 4% to $47.52.
J.M. Smucker
(SJM) - Get Report
posted adjusted third-quarter profit of $1.22 a share, down from $1.27 a year earlier.
Revenue rose 12% to $1.47 billion.
Analysts were expecting profit of $1.41 a share on revenue of $1.54 billion.
The stock fell 8.6% to $72.50 in premarket trading.
Nordstrom
(JWN) - Get Report
, the retailer, is expected by analysts to earn $1.09 a share in the fourth quarter on sales of $3.17 billion.
-- Written by Joseph Woelfel
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Joseph Woelfel
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