Shares of Lexmark International ( LXK) were among the NYSE's losers Tuesday, falling 6% after the printer maker posted mixed fourth-quarter results and gave a lower-than-expected guidance. For the fourth quarter, Lexmark earned $89.9 million, or 91 cents a share, on revenue of $1.37 billion. Excluding certain items, earnings were $1.05 a share. Analysts polled by Thomson Financial expected earnings of 95 cents a share, before items, on revenue of $1.38 billion. During the year-earlier period, the company earned $82.3 million, or 71 cents a share, on revenue of $1.37 billion. Looking ahead, Lexmark forecast first-quarter adjusted earnings of 93 cents to $1.03 a share, below analysts' forecast of $1.04. The company anticipates a year-over-year revenue decline in the low- to mid-single digit percentage. Analysts project revenue of $1.28 billion, which is roughly flat with year-ago results. Shares of Lexmark were down $4.07 to $62.53. Shares of 3M ( MMM) fell 5% after the conglomerate issued a 2007 earnings guidance that disappointed investors. In the fourth quarter, 3M earned $1.18 billion, or $1.57 a share, on revenue of $5.78 billion. Excluding a gain on the sale of its pharmaceutical business, the company earned $1.10 a share. Analysts expected earnings of $1.14 a share, before items, on revenue of $5.76 billion. During the year-earlier quarter, 3M earned $746 million, or 97 cents a share, on revenue of $5.33 billion. For 2007, 3M forecast earnings of $5.20 to $5.45 a share. The guidance includes a gain of 60 cents to 70 cents a share for the sale of its pharmaceutical unit in Europe. The forecast also includes stock-based compensation costs of 21 cents a share. Analysts project earnings of $4.99 a share. Shares were trading down $3.53 to $75.43.
Shares of Tenneco ( TEN) tumbled 10% after the auto parts maker's fourth-quarter earnings missed expectations. The company's earnings rose to $14 million, or 30 cents a share, from $8 million, or 18 cents a share, a year earlier. Excluding one-time items in both periods, earnings per share dropped to 6 cents from 28 cents a year earlier. Analysts expected earnings of 19 cents a share. Revenue climbed to $1.21 billion from $1.06 billion, compared with analysts' forecast of $1.08 billion. Shares were down $2.52 to $24. Black & Decker ( BDK) rose 5% after the toolmaker posted fourth-quarter earnings that topped its recently reduced earnings guidance. The company earned $95.7 million, or $1.38 a share, on revenue of $1.61 billion. Analysts expected earnings of $1.32 a share on revenue of $1.57 billion. In December, Black & Decker lowered its earnings guidance to $1.30 to $1.35 a share. During the year-earlier period, the company posted earnings from continuing operations of $151 million, or $1.90 a share, on revenue of $1.73 billion. Black & Decker sees first-quarter earnings of $1.25 to $1.30 a share, ahead of Wall Street's forecast of $1.24 a share. For the full year, the company predicts earnings of $6.25 to $6.55 a share. Analysts project earnings of $6.50 a share. Shares were trading up $3.78 to $86.92. Illinois Tool Works ( ITW) also rose after beating lowered forecasts. The company reported a profit of $439.3 million, or 77 cents a share, on revenue of $3.64 billion. A year earlier, the company earned $400.6 million, or 71 cents a share, on $3.25 billion in revenue. In December, Illinois Tool Works cut its earnings forecast to 72 cents to 74 cents a share from its earlier view of 77 cents to 81 cents. Analysts' most recent estimates called for earnings of 73 cents a share and revenue of $3.61 billion. Looking ahead, Illinois Tool Works forecast first-quarter earnings of 69 cents to 73 cents a share, and full-year earnings of $3.27 to $3.39 a share. Analysts predict first-quarter earnings of 71 cents a share and 2007 earnings of $3.30 a share. The stock was adding $3.52, or 7.5%, to $50.43. Shares of Getty Images ( GYI) jumped 9% after the supplier of stock photographs reported better-than-expected fourth-quarter results. The company earned $30.3 million, or 50 cents a share, compared with $42.8 million, or 65 cents a share, a year earlier. Excluding items, Getty earned $39.5 million, or 66 cents a share. Analysts expected earnings of 56 cents a share, before items. Revenue rose to $203.5 million from $185.8 million, exceeding Wall Street's forecast of $195.9 million.
For the first quarter, Getty Images sees earnings of about 61 cents a share on revenue of roughly $210 million. Analysts project earnings of 64 cents a share, with revenue of $207.9 million. Shares were up $3.94 to $48.38. NYSE volume leaders included Motorola ( MOT), up 94 cents to $19.25; Pfizer ( PFE), down 1 cent to $26.05; Advanced Micro Devices ( AMD), down 17 cents to $15.78; General Electric ( GE), down 20 cents to $35.99; Nokia ( NOK), up 43 cents to $21.83; Boston Scientific ( BSX), up 61 cents to $18.58; and Exxon Mobil ( WYE), up 98 cents to $74.18. Nasdaq volume leaders included Sun Microsystems ( SUNW), up 8 cents to $6.43; Intel ( INTC), up 13 cents to $21.02; Sirius Satellite Radio ( SIRI), unchanged at $3.70; Microsoft ( MSFT), down 17 cents to $30.36; Cisco Systems ( CSCO), up 5 cents to $26.26; Oracle ( ORCL), up 7 cents to $17.34; Level 3 Communications ( LVLT), down 4 cents to $6.10; and Apple ( AAPL), up 2 cents to $85.96.