Stocks to watch today include Goldman Sachs, Bank of New York Mellon, Yahoo and more.
Goldman Sachs’ fourth-quarter earnings slumped 58% as rocky capital markets pushed the investment bank to record its second-lowest quarterly revenue since the midst of the financial crisis. Shares still rose 1.2% to $98.80 in recent premarket trading as earnings beat Wall Street’s expectations.
Bank of New York Mellon’s fourth-quarter income fell 26% as the trust bank’s fee revenue dropped and it posted restructuring charges, though assets under management rose. Revenue missed Street expectations as Bank of New York called the period “a challenging revenue quarter, as general uncertainty in the financial markets resulted in lower-than-normal levels of client activity.” Shares fell 4.1% to $20.40 in recent premarket trading.
Yahoo said Jerry Yang, cofounder of the struggling Internet heavyweight, has resigned from its board and his other positions there. Shares rose 2.7% to $15.84 in recent premarket trading.
Chipmaker Linear Technology Corp posted quarterly revenue modestly above Wall Street estimates and forecast strong third-quarter sales on improving bookings, sending its shares up 8 percent after market.
* Majesco Entertainment Co's fourth-quarter results came in below market expectations, and the video game publisher forecast a weak 2012 as it expects higher selling and marketing costs and negligible revenue from its social and mobile games business.
* BB&T Corp and the TD Bank unit of Canada's Toronto-Dominion Bank have submitted preliminary bids to buy BankUnited Inc, the Wall Street Journal reported, citing people familiar with the matter.
* On the macro front, investors awaited December's Producer Price Index, industrial production and capacity utilization data, as well as the National Association of Home Builders/Wells Fargo's January housing market index.
* On the earnings front, a raft of companies were due to report results, including Goldman Sachs, eBay Inc
, Bank Of New York Mellon Corp , State Street Corp and Charles Schwab Corp.
* U.S. stocks advanced on Tuesday, pushing the S&P 500 to its highest since early August, but sharply pared gains late in the session as Citigroup's steep drop in profit gave investors a reason to unload bank shares.
* The Dow Jones industrial average rose 60.01 points, or 0.48 percent, to 12,482.07 at the close. The Standard & Poor's 500 Index added 4.58 points, or 0.36 percent, to 1,293.67. The Nasdaq Composite Index gained 17.41 points, or 0.64 percent, to 2,728.08.
Goldman Sachs’ fourth-quarter earnings slumped 58% as rocky capital markets pushed the investment bank to record its second-lowest quarterly revenue since the midst of the financial crisis. Shares still rose 1.2% to $98.80 in recent premarket trading as earnings beat Wall Street’s expectations.
Bank of New York Mellon’s fourth-quarter income fell 26% as the trust bank’s fee revenue dropped and it posted restructuring charges, though assets under management rose. Revenue missed Street expectations as Bank of New York called the period “a challenging revenue quarter, as general uncertainty in the financial markets resulted in lower-than-normal levels of client activity.” Shares fell 4.1% to $20.40 in recent premarket trading.
Yahoo said Jerry Yang, cofounder of the struggling Internet heavyweight, has resigned from its board and his other positions there. Shares rose 2.7% to $15.84 in recent premarket trading.
Chipmaker Linear Technology Corp posted quarterly revenue modestly above Wall Street estimates and forecast strong third-quarter sales on improving bookings, sending its shares up 8 percent after market.
* Majesco Entertainment Co's fourth-quarter results came in below market expectations, and the video game publisher forecast a weak 2012 as it expects higher selling and marketing costs and negligible revenue from its social and mobile games business.
* BB&T Corp and the TD Bank unit of Canada's Toronto-Dominion Bank have submitted preliminary bids to buy BankUnited Inc, the Wall Street Journal reported, citing people familiar with the matter.
* On the macro front, investors awaited December's Producer Price Index, industrial production and capacity utilization data, as well as the National Association of Home Builders/Wells Fargo's January housing market index.
* On the earnings front, a raft of companies were due to report results, including Goldman Sachs, eBay Inc
, Bank Of New York Mellon Corp , State Street Corp and Charles Schwab Corp.
* U.S. stocks advanced on Tuesday, pushing the S&P 500 to its highest since early August, but sharply pared gains late in the session as Citigroup's steep drop in profit gave investors a reason to unload bank shares.
* The Dow Jones industrial average rose 60.01 points, or 0.48 percent, to 12,482.07 at the close. The Standard & Poor's 500 Index added 4.58 points, or 0.36 percent, to 1,293.67. The Nasdaq Composite Index gained 17.41 points, or 0.64 percent, to 2,728.08.
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