Department store J.C. Penney reported that fourth-quarter net income grew 35.5% to $271 million, or $1.13 a share, from $200 million, or 84 cents a share, a year earlier. Adjusted earnings per share from continuing operations were $1.23. Net sales increased about 3% to $5.7 billion from $5.55 billion. On average, analysts were calling for earnings of $1.08 a share on revenue of $5.7 billion. Shares of J.C. Penney were rising 1.6% to $37.15 in premarket trading Friday.Aerospace giant Boeing was awarded a $35 billion contract by the Pentagon for an aerial refueling tanker jet. Shares of Boeing were rising 4.9% to $74.25 in premarket trading Friday.
American International Group reported net income of $11.2 billion and earnings per share of $16.60 for the fourth quarter of 2010. Shares of AIG were up 0.7% to $41.72 in premarket trading.
TV network CBS and Warner Bros. Television have decided to end production for the rest of the season on TV comedy Two and a Half Men because of comments star Charlie Sheen made about the show's producer. CBS was up 0.3% to $22.10.
Footwear company Deckers Outdoor reported heavy demand for its UGG brand boots. The stock was jumping 7.7% to $96.75 in premarket trading.
San Francisco-based cloud computing company Salesforce.com crushed the consensus view for its fourth-quarter results. Shares of the company were higher in premarket trading, surging 9.4% to $147.
