Among the companies with shares expected to actively trade in
Wednesday's session are Abbott Laboratories (ABT), Bank of America
Corp. (BAC) and Yahoo Inc. (YHOO).
Abbott Laboratories said its first-quarter earnings fell 31% as
the health-care products company reported negative currency impacts
masked modest overall sales growth. The bottom line topped the
company's own expectations, pushing shares up 1.4% to $38.50
premarket.
Bank of America swung to a first-quarter loss as the banking
giant was weighed down by large one-time legal charges and was also
hit by slumping mortgage originations. Adjusted earnings and
revenue topped expectations. But shares slipped 0.9% to $16.24
premarket as mortgage originations slipped.
Interactive Brokers Group Inc.'s (IBKR) first-quarter earnings
more than tripled as the company's electronic brokerage reported
gains from new customers and more trading activity. Shares climbed
3.9% to $22.40 premarket.
Johnson Controls Inc. (JCI) is expanding its position in the
buildings market, agreeing to purchase Air Distribution
Technologies from the Canada Pension Plan Investment Board for
about $1.6 billion. Shares edged up 1.1% to $46.46 premarket.
U.S. Bancorp (USB) said its first-quarter earnings fell 2.2% as
the regional lender posted weaker mortgage banking revenue. Results
matched expectations, but shares slipped 0.7% to $41.30
premarket.
Yahoo reported its revenue, minus commissions paid to partners
for Web traffic, rose 1% in the first quarter after four straight
quarters without growth. Shares climbed 7.5% to $36.78
premarket.
Watch List:
CSX Corp. (CSX) said its first-quarter earnings fell 14% as
winter-related disruptions contributed to higher costs and weighed
on the railroad company's revenue growth.
Eagle Bulk Shipping Inc. (EGLE) shares climbed after the
shipping company announced an extension to waiver and forbearance
agreements to allow further discussions with lenders about a
potential credit-agreement restructuring.
The U.S. Food and Drug Administration sent a Endo International
PLC (ENDP) unit a warning letter over a Minnesota facility the
agency had inspected, the company said Wednesday. The FDA told
Endo's American Medical Systems Inc. that it would need to conduct
a follow-up inspection of the unit's Minnetonka, Minn., plant to
validate whatever corrective action has been undertaken since the
February inspection.
Huntington Bancshares Inc. (HBAN) said its first-quarter profit
and revenue declined slightly, although the bank experienced a jump
in its average consumer loans. The bank's revenue topped analysts'
expectations.
Intel Corp. (INTC) reported a 4.8% decline in first-quarter
profit as the Silicon Valley chip maker continues to share the pain
of the shrinking personal computer market. Revenue edged up 1.5%,
and the company's closely watched gross profit margin was 59.7% in
the quarter, down from 62% in the fourth period but ahead of
Intel's 59% projection.
Linear Technology Corp.'s (LLTC) fiscal third-quarter profit
grew 6%, fueled by higher sales particularly in its growing auto
segment.
PNC Financial Services Group Inc. (PNC) said its first-quarter
income grew 6.5%, helped by lower expenses and credit-loss
provisions. The regional lender's earnings beat market
expectations.
St. Jude Medical Inc. (STJ) said its first-quarter earnings rose
12% as the medical-device maker reported modest sales growth at its
core heart-rhythm device business. Results came in at the high end
of the company's expectations, and it raised its outlook for the
year.
W.W. Grainger Inc. (GWW) said its first-quarter profit edged up
2.3% as the industrial-goods supplier reported revenue growth in
its U.S. business and strength online, masking lower sales in
Canada. Earnings beat estimates.
Write to John Kell at john.kell@wsj.com and Lauren Pollock at
lauren.pollock@wsj.com
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