Gateway posts profit amid higher than expected tax benefit; Corning gives guidance; plus more stocks in the news Friday
From Standard & Poor's Equity ResearchLear (LEA) agrees to be acquired by American Real Estate Partners, L.P., an affiliate of Carl C. Icahn, in a deal valued at about $5.3 billion, including debt assumption at $36 per share cash.
Gateway (GTW) posted 2 cents fourth quarter earnings per share (EPS) vs. a 5 cents loss as a higher-than-expected tax benefit offset a 9% lower revenue.
Corning (GLW) reaffirmed its 24 to 27 cents first quarter non-GAAP EPS guidance and $1.26 billion to $1.31 billion sales outlook. The company expects first quarter gross margin to be in the range of 43% to 45%.
MasterCard (MA) posted 30 cents fourth quarter EPS vs. a 39 cents loss on a 17% revenue rise.
Black & Decker (BDK) raised its 38 cents quarterly dividend 11% to 42 cents.
Weyerhaeuser (WY) posted $1.67 fourth quarter EPS vs. an 86-cent loss as lower costs offset flat sales.
Aon Corp (AOC) psoted 67 cents vs. 47 cents fourth quarter EPS from continuing operations (excluding items) on a 7.4% revenue rise.
AES (AES) reached a preliminary agreement with the Bolivarian Republic of Venezuela for purchase of AES's 82.14% stake in La Electricidad de Caracas (EDC), the largest private electricity utility in Venezuela, for $739.26 million.
Laidlaw (LI) Agrees to be acquired by FirstGroup Plc for $3.6 billion (including the assumption of $0.8 million of debt). Terms: $35.25 for each Laidlaw share.