Goldman, Wells Fargo: Premarket Trading


NEW YORK (TheStreet) -- Goldman Sachs (GS), the Wall Street bank, reported fourth-quarter earnings of $3.79 a share, topping the consensus estimate of $3.76.

Shares of Goldman Sachs were down 3% to $169.40 in premarket trading Wednesday.


Wells Fargo ( WFC) reported fourth-quarter earnings of 61 cents a share, in line with Wall Street estimates.

Shares of the company were falling 0.3% to $32.40.


ASML ( ASML), the Dutch maker of semiconductor equipment, said fourth-quarter profit surged from a year earlier as the company achieved record sales and bookings and ramped up production at its factories to meet demand.

Shares of the company edged lower by 1.5% to $39.51 in early trading.


John Havens, who has led Citigroup's ( C) institutional clients group for the past three years, is expected to be named president and chief operating officer, the Wall Street Journal reports.

CEO Vikram Pandit briefed the board on the management change Tuesday after the bank reported quarterly profits that fell far short of Wall Street expectations.

Shares of Citigroup fell 0.2% to $4.79.

Western Digital ( WDC) trounced Wall Street expectations for its fiscal second-quarter results late Tuesday as hard-drive shipments increased nearly 3% on a sequential basis.

Shares of the company were up 1.1% to $34.30 in early trading.


Depomed ( DEPO) disclosed a potentially damaging contract dispute with Abbott Labs ( ABT) over the marketing of a shingles drug.

Depomed stock was falling 13.4% to $5.70 in early trading. There were no premarket quotes reported for Abbott. Shares of Abbott ended Tuesday's trading session at $47.20, up 0.7%.


U.S. Bancorp ( USB) reported fourth-quarter earnings of 49 cents a share vs. the consensus estimate of 46 cents.

The stock was down 0.1% to $27.28 in early trading.


eBay ( EBAY) is slated to report fourth-quarter earnings after the closing bell. Analysts, on average, are calling for earnings of 47 cents a share on revenue of $2.49 billion. The expectation is that the company benefited from a rise in shopping during the holiday season.

Shares of the company rose 0.7% to $29.64.

Apple ( AAPL) crushed Wall Street's expectations for its fiscal first-quarter earnings. The results were posted ater the stocks fell more than 2% on news that CEO Steve Jobs was taking a second leave of absence for medical reasons.

Apple's stock rose 2.2% to $348.17 in early trading Wednesday.


IBM ( IBM) topped Wall Street's expectations for its fourth-quarter earnings by a healthy margin.

IBM was up 2.5% to $154.35.


Bank of New York ( BK) reported fourth-quarter earnings of 55 cents vs. the consensus estimate of 57 cents a share.

Bank of New York shares were down 2.3% to $31.28.


Cree ( CREE) fell short with its fiscal second-quarter results on both the top and bottom lines.

Shares of Cree dropped 15.6% to $52.92 in early trading.


Cargill, the privately held agribusiness giant, plans to divest its majority stake in fertilizer producer Mosaic ( MOS), the companies announced after the close Tuesday.

Shares of Mosaic were falling 2.2% to $83.20 in premarket trading.

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-- Written by Andrea Tse in New York.

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