Hershey Foods ( HSY - Get Report) said fourth-quarter net income increased about 7% to $135.5 million, or 59 cents a share, from $126.8 million, or 55 cents a share, a year earlier. On an adjusted basis, earnings were 61 cents a share. Net sales increased about 5% to $1.48 billion from $1.41 billion the year before. Analysts, on average, expected earnings of 61 cents a share on revenue of $1.48 billion. Shares of the company were unchanged at $47.14 in premarket trading Wednesday.
Mattel ( MAT - Get Report) said fourth-quarter net income fell about 1% to $325.2 million, or 89 cents a share, from $328.4 million, or 89 cents, a year earlier. Net sales rose 9% to $2.12 billion from $1.96 billion. Analysts, on average, expected Mattel to report earnings of 86 cents a share on revenue of $2.09 billion. Mattel shares rose 1.5% to $24.50 in early trading.
Whirlpool ( WHR - Get Report), the appliance maker, said fourth-quarter earnings jumped 80% despite a dip in sales in North America. Whirlpool shares fell 4.5% to $81.61 in premarket trading Wednesday.
Borders Group ( BGP) could file for bankruptcy protection as soon as next week, according to Bloomberg. Shares of Borders were falling 14.9% to 40 cents in premarket trading Wednesday.
NaviSite ( NAVI - Get Report) agreed to be acquired by Time Warner Cable ( TWC) for $230 million. NaviSite shares surged 32.5% to $5.47 in premarket trading Wednesday. Time Warner cable finished the previous trading session at $68.73, up 1.3%.
Yum! Brands ( YUM - Get Report) is scheduled to report quarterly earnings after the markets close Wednesday. The company is expected to have a difficult conference call because of the recent Taco Bell lawsuit claiming its taco beef is only 35% beef and the rest is fillers. Yum! stock was up 0.9% to $47.83 in premarket trading.
Visa ( V - Get Report) reports its quarterly results after the closing bell. The current average estimate of analysts polled by Thomson Reuters is for a profit of $1.21 a share on revenue of $2.23 billion in the December period. The credit card issuer has beat Wall Street's profit expectations in the past eight quarters. The stock was up 0.4% to $71 in premarket trading.
Amazon ( AMZN - Get Report) is working towards a film streaming service that would put it in direct competition with Netflix ( NFLX - Get Report), according to the Financial Times. Shares of Amazon were down 0.2% to $171.80 during premarket trading, while Netflix fell 1.3% to $210.20.
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