Traders Look Past Revenue Miss
Caterpillar reported fourth-quarter profit of $1.91 a share, beating the $1.70 expected by analysts. Revenue missed, but investors are focusing on that strong bottom line number and CAT is up more than 2 percent before the bell on my tradeMONSTER platform.
Sony Upgraded by Citigroup
Citigroup upgraded Sony to "buy" from "neutral," saying declines the Japanese yen will help the company. SNE climbs 7 percent in the premarket.
JoS. A Bank Hammered by Cost Pressures
JoS. A Bank Clothiers said that net income will drop 20 percent in the full year as costs surge. Management also said it was hurt by warm weather and customers didn't respond well to promotions. JOSB drops 16 percent before the bell.
Furiex Pops on Drug Approvals
Furiex Pharmaceuticals said the Food & Drug Administration approved three new type 2 diabetes drugs. The medicines will be sold by Takeda Pharmaceuticals, but FURX will receive a $25 million milestone payment, plus royalties. The stock is up 32 percent in early trading.
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