Coca-Cola Enterprises said fourth-quarter profit rose 7% to $97 million, or 28 cents a share, from $91 million a year ago. Fourth-quarter revenue rose about 12% to $1.79 billion from $1.61 billion a year ago. There were no premarket trades on the stock. Coca-Cola Enterprises rose 0.4% to $26 at the market close Thursday. Analysts, on average, were expecting fourth-quarter earnings of 28 cents a share on revenue of $1.77 billion. The company affirmed its expected 2011 EPS range of $1.95 to $2 vs. the Wall Street target of $2.01.Finnish mobile phone company Nokia said it would adopt software giant Microsoft's Windows Phone as its primary smartphone strategy. Shares of Nokia dropped 7.7% to $10.04 in premarket trading Friday, while Microsoft rose 1.1% to $27.80.
Processed-food maker Kraft Foods posted a sharp decline in year-over-year profitability. Shares of Kraft were down 1.8% to $30.55 in premarket trading.
Wynn Resorts reported better-than-expected profit and earnings in the fourth quarter. Shares of Wynn fell 0.1% to $120 in premarket trading Friday.
Kinder Morgan, a refined petroleum products pipeline operator, said its initial public offering of 95.5 million shares was priced at $30, above the expected range. The company had expected to offer 80 million shares. In total, the company raised $2.9 billion from the IPO.
Bellevue, Wash.-based online travel reservation company Expedia missed Wall Street expectations for its quarterly profit as costs jumped 18% from a year ago. Shares of Expedia dropped 13.4% to $22.25 during premarket trading Friday.
MannKind, the Valencia, Calif.-based drug developer, is laying off 41% of its work force in the wake of the mid-January setback in its efforts to secure regulatory approval of its proposed inhalable diabetes drug Afrezza. Shares of the company tumbled 10.1% to $4.55 in premarket trading.
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