Kroger ( KR), the grocery retailer, reported fourth-quarter adjusted earnings of 50 cents a share on sales of $21.4 billion. Analysts expected profit of 49 cents a share on sales of $21.43 billion. Shares were rising 1.9% to $24.25.
Pet products retailer PetSmart ( PETM )reported fourth-quarter profit of $102 million, or 91 cents a share, on sales of $1.64 billion, beating the average analyst estimate of earnings of 90 cents a share on sales of $1.62 billion. The company is forecasting 2012 earnings of $3.02 to $3.16 a share, above consensus projections of $2.54 a share, according to a Thomson Reuters poll. Total sales growth should come in between 7.5% to 8.5%, which is essentially in line with estimates. Shares were falling 1.8% to $54.75.
Fast-food chain Wendy's ( WEN) reported fourth-quarter income from continuing operations of $4.3 million, or 4 cents a share, on revenue of $615 million. Wall Street analysts predicted earnings of 3 cents a share on revenue of $609.1 million. Shares were rising 1.4% to $5.14.
Bank of America ( BAC) plans to introduce a monthly fee for customers with basic checking accounts unless they agree to bank online, buy more products or maintain certain balances, according to The Wall Street Journal . Bank of America pilot programs in Arizona, Georgia and Massachusetts now are experimenting with charging $6 to $9 a month for an "Essentials" account, the newspaper said, which cited a memo distributed to employees. Last fall, the bank pulled back from introducing a new $5 debit-card charge after customers criticized the move. Shares were up 0.6% to $8.02.
Carmakers such as Ford ( F) and General Motors ( GM) are expected to announce February sales on Thursday. Ford shares were up 0.2% to $12.41.
The board of CVR Energy ( CVI), an independent petroleum refiner and marketer of transportation fuels, is urging stockholders to reject investor Carl Icahn's hostile tender offer to acquire all outstanding shares of CVR Energy for $30 a share in cash and a "contingent cash payment right," saying that it is inadequate and not in the best interests of its stockholders.
Kinder Morgan ( KMI) can move ahead with its $21 billion deal to buy El Paso ( EP) after a judge declined to stop the deal. The deal to merge North America's two largest natural gas pipeline companies is expected to close in the second quarter.
Foot Locker ( FL) is expected to earn 51 cents a share on revenue of $1.49 billion in the fourth quarter ended in January. -- Written by Joseph Woelfel and Andrea Tse >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.