Marsh selling its Putnam Investments unit; Google posts higher earnings; plus more stocks in the news Thursday
From Standard & Poor's Equity ResearchDell (DELL) names chairman Michael Dell to additional post of CEO, effective immediately, replacing Kevin Rollins, who resigned. The company expects fourth quarter and fiscal year 2007 revenue and earnings per share (EPS) results to miss Street estimates.
Canada's Great-West Lifeco is to purchase Marsh & McLennan (MMC) Putnam Investments unit for $3.9 billion in cash, subject to certain customary adjustments.
Google (GOOG) posted $3.18 vs. $2.62 fourth quarter non-GAAP EPS on a 67% rise in gross revenue. The company says it expects to make significant capital expenditures in 2007.
CVS (CVS) posted 49 cents (including non-recurring items) vs. 48 cents fourth quarter EPS on 8.7% higher same-store sales and 24% higher total sales.
St. Paul Travelers (STA) posted $1.68 vs. 26 cents fourth quarter EPS on a 1% rise in gross written premiums. The company sees 2007 EPS of $5.20 to $5.45.
Fiserv (FISV) posted 64 cents vs. 54 cents fourth quarter EPS from continuing operations (adjusted) on an 11% revenue rise. Sees $2.86 to $2.94 2007 EPS from continuing operations on adjusted internal revenue growth of mid-single digits. The company set a buyback of an additional 10 million shares.
Bank of Montreal (BMO) says it will take a C$135 million pre-tax restructuring charge in the first quarter in connection with the elimination of about 1,000 jobs in "primarily non-customer-facing areas" of the bank.
Archer Daniels Midland (ADM) Posts $0.67 vs. $0.56 second quarter EPS on an 18% revenue rise.
Verisign (VRSN) Posts $413 million fourth quarter revenue. To restate financials for years and interim periods from 2002 to 2005 and for the first quarter 2006 to record additional expenses tied to past stock option grants.
Monster Worldwide (MNST) Posts $0.30 vs. $0.28 fourth quarter EPS on a 33% revenue rise. Sees $330 million to $338 million first quarter revenue and $1.36 billion to $1.41 billion in 2007.