LargeCap Stocks to Watch Today

Tomahawk, WI 4/13/2012 (StreetBeat) -- Google (GOOG), the Internet search giant, posted strong quarterly earnings and announced a two-for-one stock split.

Google reported first-quarter earnings of $10.08 a share on revenue of $8.14 billion, excluding traffic acquisition costs. Total revenue came in at $10.65 billion. Revenue in the U.S. rose 22% year over year to $4.9 billion, while revenue outside the U.S. jumped 26% to $5.8 billion.

Analysts were expecting revenue of $8.146 billion, excluding traffic acquisition costs, and earnings of $9.65 a share.

Google also said it would be creating a new class of stock, effectively issuing a stock split that is "designed to preserve the corporate structure that has allowed Google to remain focused on the long term."

On a conference call, CEO Larry Page said that many investors have asked for a stock split, and this effectively grants it to them.

JPMorgan Chase (JPM) and Wells Fargo (WFC) report their quarterly earnings Friday before the opening bell.

Analysts expect JPMorgan to post first-quarter earnings of $1.18 a share on revenue of $24.68 billion, while Wells Fargo is seen posting profit of 73 cents a share in the March-ended period on revenue of $20.46 billion.

Infosys Technologies (INFY), the Indian software services company, said fourth-quarter profit rose 15.2% in dollar terms and sales jumped 10.5%, but revenue for fiscal 2013 would rise only 8% to 10%, below forecasts for the industry.

Dow Chemical (DOW) raised its second-quarter dividend by 28% to 32 cents a share from 25 cents.

The dividend will be paid on July 30.

Coinstar (CSTR), whose businesses include the Redbox DVD rental kiosks, provided a first-quarter outlook above analysts' estimates.

Coinstar said it sees core earnings from continuing operations of $1.36 to $1.40 a share on revenue of $567 million to $569.2 million for the three months ended March 31. Analysts are calling for profit of 90 cents a share on revenue of $537.7 million.

Coinstar attributed the forecast, in part, to strong DVD demand from consumers in February and March.

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LargeCap Stocks to Watch Today

CVS said fourth-quarter income from continuing operations fell about 2% to $1.03 billion, or 75 cents a share, from $1.05 billion, or 74 cents a share, a year earlier. Earnings from continuing operations on an adjusted basis were 80 cents a share. Net revenue for the quarter fell 4.1% to $24.8 billion, down from $25.8 billion a year ago. Same-store sales increased 1.7% year over year. Wall Street was calling for earnings of 79 cents a share on revenue of $24.95 billion. Shares of CVS fell 1.6% to $34.10 in early trading Thursday.

BJ's Wholesale Club said Thursday it is exploring and evaluating strategic alternatives, including a possible sale of the retailer. Shares of BJ's surged 12.5% to $48.40 in premarket trading Thursday.

Merck posted a fourth-quarter loss of $531 million, or 17 cents a share, a reversal from year-earlier net income of $6.49 billion, or $2.35 a share. The quarter was impacted by purchase accounting adjustments, restructuring costs and merger-related costs. Excluding items, fourth-quarter earnings were 88 cents a share. Sales rose 20% to $12.09 billion from $10.09 billion the year before. Analysts, on average, were expecting earnings of 83 cents a share on revenue of $11.52 billion. Given industry pressures such as greater E.U. austerity measures and the additional impact of U.S. health care reform, and developments in its vorapaxar clinical program, the company withdrew its previous long-term target of high single-digit non-GAAP EPS compound annual growth from 2009 to 2013. Shares of the company fell 1.9% to $33.17 in premarket trading Thursday.

Dow Chemical said fourth-quarter earnings topped analysts' expectations as sales rose in emerging markets. The stock rose 2.8% to $37.65 in early trading Thursday.

Royal Dutch Shell said fourth-quarter profit skyrocketed as the oil company increased production, but stripping out items the result missed analysts' expectations. Shares of the company were unchanged at $71.18 in premarket trading.

Green Mountain Coffee Roasters blew past Wall Street's profit expectations for its fiscal first quarter. Shares of GMCR were surging 15.3% to $38.01 in premarket trading.


Santander's fourth-quarter profit tumbled 4.6%, weighed down by weak performance in Europe. The stock was falling 2.2% to $12.26 early Thursday.

Unilever said fourth-quarter net profit rose 15% to €1.04 billion, while sales rose 12% to €10.82 billion, driven by strong volume growth in the emerging markets. The company cautioned that it was facing "intense competition and the return of commodity cost volatility." Unilever was down 0.2% to $29.89.

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