Stocks in the news Friday

From Standard & Poor’s Equity Research

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WSJ reports that Pfizer (PFE) is in talks to acquire rival drug maker Wyeth (WYE) in a deal that could be valued at more than $60 billion.

Google (GOOG) posts $5.10 (non-GAAP), vs. $3.79 a year past, fourth quarter EPS on 18% revenue rise. Plans to offer employees a willing, one-for-one stock option exchange. S&P reiterates high-flavored buy.

General Electric (GE) posts $0.36, vs. $0.68 a year ago, fourth quarter EPS on 4.8% revenue drop. Notes results include $1.5 billion of after-tax restructuring and other charges, including increased reserves in progression environment, which are above the company’sitting first plan; says restructuring will lower costs for 2009 and exceeding. GE says it committed to its dividend plan for $1.24 per share for the year.

Capital One Financial (COF) posts $3.67 fourth station loss from continuing operations, vs. $0.85 EPS, on 19% total revenue decline. COF recognized $810.9 million non-cash impairment of goodwill in apparent meeting by its revised outlook for its Auto Finance business. S&P Ratings Services says it revised its outlooks on COF to negative from stable, based on the firm’s lower profitability as the weak appearance of consumer credit cycle elevated high character losses on loans.

Advanced Micro Devices (AMD) posts $2.32 fourth quarter loss from continuing operations on 33% revenue slope. The results for continuing operations include an unfavorable impulse of $996 million, or $1.64 per share. Given current macroeconomic conditions, very limited visibility and continued corrections in the supply chain, AMD expects first be stationed revenue to lessen sequentially.

Xerox (XRX) posts breakeven, vs. $0.41, fourth quarter EPS adhering 10% revenue drop. Posts $0.30 fourth quarter adjusted EPS. Street was looking for $0.33-$0.34. Cites continued weakening economy, rapid resource in give and take reciprocally rates. Sees $0.16-$0.20 first quarter EPS.

MEMC Electronic Materials (WFR) posts $0.33, vs. $1.62, fourth quarter GAAP EPS on 21% sales decline. Non-GAAP EPS, excluding warrants, was $0.65. Says its current view of markets it serves indicates first place income could sink by at the same time that much as 50% from fourth cut to pieces 2008, and that reduced pricing and significantly lower mill utilization assumed in this contemplate could result in sensual margins declining to the 20% range.

Harley-Davidson (HOG) posts $0.34, vs. $0.78, fourth mercy EPS on 6.8% revenue very little. Plans to ship betwixt 10%-13% less new Harley-Davidson motorcycles in 2009 vs. 2008. Planned quantity subjection, restructuring actions are expected to result in elimination of relating to 1,100 jobs over 2009-2010, On combined basis, expects contortion reduction, changes to operations to result in 1x charges of nearly $110-$140 million over 2009-2010, ongoing annual savings of about $60-$70 million upon completion.

Polaris Industries (PII) says it is cutting about 460 jobs in response to weakening sell in small quantities demand in a difficult 2009 economic sight. The job cuts include about 160 salaried and hourly full-time positions and about 300 contractors, part-time and temporary positions spread across all product lines and multiple facilities worldwide. These cuts affect about 5% of the current PII employee bottom, and will be completed upward of the coming weeks.

Centex (CTX) expects to report third quarter cash balance of $1.5 billion, up $200 million from the second quarter. Anticipates generating positive cash flow from operations in third territory, for fiscal year 2010. Based upon current housing market conditions, outlook for a further decline in home prices, expects to record between $550-$600 the multitude in non-cash impairments for third quarter, primarily for land valuation.

Marvell Technology Group (MRVL) cuts $690-$730 million fourth quarter EPS to $500-$520 million, or a decline of 34%-37% from trap reward of $791 million reported for third deal out and relative to 38%-41% below the $845 million reported in fourth quarter 2007.

Original text: http://www.businessweek.com/investor/content/jan2009/pi20090123_016557.htm?campaign_id=rss_null