Profit Comes in Better Than Expected
Morgan Stanley reported fourth-quarter earnings of $0.28 a share, beating the $0.27 average analyst forecast. Revenue missed expectations, but investors are focusing on that profit number, sending MS up by more than 6 percent before the bell on my tradeMONSTER platform.
FDA Approves Migraine Skin Patch
NuPath announced late yesterday that the Food & Drug Administration approved its Zecuity skin patch for the treatment of migraines, making it the first such product on the market. PATH rallies 19 percent on the news.
Research in Motion Keeps Moving
Research in Motion keeps moving! Today, it was upgraded to "buy" from "hold" at Jefferies, which cited the possibility of its Blackberry mail being able to work on iPhones and Android devices. The target price was raised to $19.50 from $13. RIMM is up 7 percent in the premarket.
Capital One Drops on Earnings Miss
Capital One earned just $1.41 a share in the fourth quarter on revenue of $5.62 billion. Analysts had expected $1.58 and $5.71 billion, respectively. Those results have COF down 7 percent in early trading.
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