Quarterly Reporting
UPS (UPS) down 1.3% citing economic weakness for its disappointing full year outlook. Warning that domestic growth could slow in 2007.
Merck (MRK) down 1.3% after reaffirming full year outlook, but had its 1st earnings shortfall in 2 years.
3M Co. (MMM) down 5.4% after missing expectations and saying 2007 profits may fall below estimates. Net income jumped 58% in Q4 on a gain from selling its pharmaceuticals business last month.
Spansion (SPSN) down 1.67%, the world's largest provider of NOR flash memory chips used in consumer electronics, said it narrowed its fourth-quarter loss amid higher sales.
Genesis Microchip (GNSS) down -18% after reporting a Q3 loss of $130.4M, compared to a profit of $7.4M, in the year-ago period. The maker of microchips used in flat panel televisions and monitors posted revenue of $51.1M, down from $74M a year ago.
Schering-Plough's (SGP) up 0.5% after net jumped 62%, but research spending may outstrip sales gains this year as more medicines move through clinical testing.
Sony (SNE) down 1.5% after reporting a decline in quarterly net profit as losses in its videogame business offset strong electronics sales, but it raised its forecast for the full year as it tries to get back on track with its turnaround efforts.
Merck (MRK) down 1.3% after reaffirming full year outlook, but had its 1st earnings shortfall in 2 years.
3M Co. (MMM) down 5.4% after missing expectations and saying 2007 profits may fall below estimates. Net income jumped 58% in Q4 on a gain from selling its pharmaceuticals business last month.
Spansion (SPSN) down 1.67%, the world's largest provider of NOR flash memory chips used in consumer electronics, said it narrowed its fourth-quarter loss amid higher sales.
Genesis Microchip (GNSS) down -18% after reporting a Q3 loss of $130.4M, compared to a profit of $7.4M, in the year-ago period. The maker of microchips used in flat panel televisions and monitors posted revenue of $51.1M, down from $74M a year ago.
Schering-Plough's (SGP) up 0.5% after net jumped 62%, but research spending may outstrip sales gains this year as more medicines move through clinical testing.
Sony (SNE) down 1.5% after reporting a decline in quarterly net profit as losses in its videogame business offset strong electronics sales, but it raised its forecast for the full year as it tries to get back on track with its turnaround efforts.
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