Whirlpool ( WHR) significantly reduced its outlook for 2011 earnings and said it would cut 5,000 jobs to trim costs and expand its operating margins. Shares were plummeting 10.1% to $54.39 in premarket trading Friday.
Chinese Internet giant Baidu ( BIDU) reported that revenue totaled $654.7 million in the third quarter, up 85% from year-ago levels. Baidu said it earned $285 million in the period, or 84 cents per ADS. Excluding share-based compensation expense, the company's profit was 86 cents per ADS. Baidu was jumping 7.7% to $149.05.
Video game developer Electronic Arts ( ERTS) said its iscal second-quarter loss widened to $1.03 a share from 61 cents the same time last year. Shares were losing 5.1% to $23.25.
Casino-resort developer and operator Las Vegas Sands ( LVS) reported third-quarter profit of 55 cents a share, beating the average analyst estimate of 52 cents. Shares were adding 3.7% to $47.09.
Drugmaker Merck ( MRK) reported third-quarter earnings of 94 cents a share, beating the average analyst estimate of 91 cents. Shares were rising 2.7% to $35.25.
Biotechnology company Biogen ( BIIB) reported third-quarter profit of $1.61 a share, beating the Wall Street consensus estimate of $1.53. Shares were rising 1.9% to $120.
Forest products company Weyerhaeuser ( WY) reported third-quarter earnings of 12 cents a share, in line with estimates. Shares were up 0.9% to $18.10.
HP ( HPQ) will keep its PC division, the company announced on Thursday, after spending the last few months considering a spinoff of its computer business. Shares were up 0.8% to $27.30.
Oil major Chevron ( CVX) reported third-quarter profit of $3.92 a share, beating the average analyst estimate of $3.48 a share. Sales and other operating revenues in the third quarter were $61 billion, up from $48 billion in the year-ago period, mainly due to higher prices for crude oil and refined products. Shares were down 0.4% to $108.87. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.