Wal-Mart said fourth-quarter income from continuing operations rose about 4.3% to $5.02 billion, or $1.41 a share, from $4.82 billion, or $1.26 a share, a year earlier. On an adjusted-basis, earnings per share were $1.34. Net sales for the quarter increased 2.5% to $115.6 billion from $112.8 billion. Analysts, on average, were expecting earnings of $1.31 a share on revenue of $117.68 billion. Shares of Wal-Mart edged 1.5% lower to $54.55 in premarket trading Tuesday.Chesapeake Energy agreed to sell all of its Fayetteville Shale natural gas assets to BHP Billiton for $4.75 billion in cash. Chesapeake shares spiked 7.6% to $32.75, while BHP rose 0.7% to $93.02 in premarket trading.
Holly Corp. and Frontier Oil agreed to merge in an all-stock deal forming an oil refining company with an enterprise value of $7 billion. Shares of Holly Corp. were falling 2% to $54.98 in premarket trading Tuesday, while Frontier Oil was lower by 0.1% to $28.09.
Home Depot, the No. 1 home-improvement retailer, said it was raising its dividend after fiscal fourth-earnings rose and sales increased 3.8%. Home Depot shares rose 2.7% to $39.50 in premarket trading Tuesday.
Dynegy said late Monday its CEO and chief financial officer plan to resign following a failure by shareholders to approve a takeover offer from Carl Icahn. Premarket quotes weren't reported for Dynegy. Shares fell down 0.7% to $6.01 at the closing bell Friday.
Stocks were weak in Asian trade. Shanghai lost 2.6%, the Hang Seng was down more than two percent as well, the Nikkei dropped about 1.8% and Australia was off 0.9%. European indexes are also broadly lower on the day; the Dax is down only a slight fraction, but the Footsie is off by about 0.9%. US stock futures are down one percent, more or less.
GreenHouse Holdings (
BAZI International (
THE DAY AHEAD
Camden, N.J.-based Campbell Soup said second-quarter net earnings fell 8% to $239 million, or 71 cents a share, from $259 million, or 74 cents a share, a year earlier. Sales fell about 1% to $2.13 billion from $2.15 billion the year before. Analysts, on average, expected earnings of 71 cents a share on revenue of $2.15 billion. Shares of the company fell 3.3% to $33.80 in premarket trading Friday.