Xerox ( XRX) said fourth-quarter net income fell 5% to $171 million, or 12 cents a share, from $180 million, or 20 cents a share, the year before. Adjusted earnings were 29 cents a share. Revenue for the quarter grew about 42% to $5.98 billion. The Wall Street consensus called for earnings of 28 cents a share on revenue of $5.98 billion. The stock fell 3.8% to $10.97 in premarket trading.
General Dynamics ( GD) reported an 18% increase in fourth-quarter earnings from continuing operations to $729 million, or $1.91 a share, from $618 million, or $1.58 a share, a year earlier. Revenue rose about 8.9% to $8.6 billion in the fourth quarter from $7.9 billion. On average, analysts were expecting earnings of $1.85 a share on revenue of $8.92 billion. Premarket quotes weren't available for shares of General Dynamics. The stock ended Tuesday's trading session at $74.17, up 2%.
United Continental ( UAL) beat estimates as Pacific unit revenue rose by 26%. Shares of the carrier rose 2% to $24.57 in early trading Wednesday.
Valero Energy ( VLO) swung to an adjusted profit in the fourth quarter on a surge in global demand for oil and refined products. Shares of the company rose 1.2% to $24.60.
United Technologies ( UTX) said fourth-quarter net income rose about 12% to $1.2 billion, or $1.31 a share, from $1.07 billion, or $1.15 a share, a year earlier. Earnings included net charges for restructuring and one-time items of 3 cents a share. Consolidated sales for the quarter rose about 6% to $14.86 billion from $13.979 billion the year before. Analysts, on average, were calling for earnings of $1.29 a share on revenue of 14.75 billion. Shares of the company were flat at $81.74 in early trading Wednesday.
Toyota ( TM) is recalling about 245,000 Lexus vehicles sold in the U.S. to inspect problems with a fuel pressure sensor. The automaker Wednesday announced it was recalling 1.7 million vehicles worldwide. Shares of Toyota fell 1.7% to $82.41 in premarket trading Wednesday.
WellPoint ( WLP) earned $548.8 million, or $1.40 a share, in the fourth quarter including net investment gains of $24.1 million, or 7 cent a share. Adjusted earnings of $1.33 a share topped analysts' estimates. WellPoint fell 1.4% to $60.85.
Yahoo!'s ( YHOO) fourth-quarter earnings beat analyst expectations, but revenue declined from last year. Yahoo! fell 2% to $15.71 in premarket trading Wednesday.
MIPS Technologies' ( MIPS) revenue for its fiscal second quarter came in just shy of Wall Street's expectations. The stock tumbled 9.2% to $13.74.
RF Micro Devices ( RFMD) fell short of Wall Street's revenue view in its latest quarter and forecast a sequential decline of 10-15% in revenue for the current period. Shares of the company dropped by 8.6% to $7.
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