Media company Time Warner ( TWX) reported Wednesday first-quarter earnings of $583 million, or 59 cents a share, down from year-earlier earnings of $653 million, or 59 cents. First-quarter adjusted earnings were 67 cents a share. Analysts, on average, anticipated earnings of 64 cents a share in the first quarter. Time Warner also reaffirmed its full-year 2012 guidance on Wednesday of low-double-digit growth off its $2.89 adjusted earnings per share base. Shares of Time Warner ticked down 7 cents, or 0.18%, in premarket trading Wednesday to $37.85. Sirius Gets Revenue Beat on Subscriber Growth
Credit card giants MasterCard ( MA) and Visa ( V) both report first-quarter earnings on Wednesday. Analysts expect MasterCard to post earnings of $5.29 a share, up from $4.29 a share a year earlier. Shares of MasterCard rose $4.10, or 0.9%, in premarket trading Wednesday to $460.00. Visa is expected by Wall Street analysts to post first-quarter earnings of $1.50 a share, up from $1.23 a share in the year-earlier period. Visa shares ticked up 51 cents, or 0.41%, to $123.60 in premarket trading Wednesday. Bank of America Keeps Shrinking
Whole Foods Markets ( WFM), the operator of natural and organic food supermarkets, is expected to post a profit of 59 cents a share in its fiscal second quarter on revenue of $2.67 billion. Whole Foods reports after Wednesday's closing bell.
UBS ( UBS), Switzerland's biggest bank, said first-quarter profit fell 54%, largely due to a big accounting charge on its debt and difficult market conditions. Revenue fell 22% to 6.53 billion francs. Shares of UBS rose 2.6% in premarket trading Wednesday to $13.00. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.