9 Early Blazing Stocks: Kellogg Pops 3%, Abercrombie Sinks 11% While Gap Surges
Shares of Kellogg Co. (NYSE:K) jumped more than 3 percent in early trading. The company reported that fourth quarter earnings increased to $232 million (64 cents per share), compared to $189 million (51 cents per share) a year earlier. Shares of General Mills (NYSE:GIS) also edged higher.
Merck & Co. Inc. (NYSE:MRK) shares increased .88 percent after announcing fourth quarter results. The drug company earned $1.5 billion (49 cents per share), compared to a $531 million loss a year earlier. Eli Lilly (NYSE:LLY) shares decreased in early trading.
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Sara Lee Corp. (NYSE:SLE) shares edged slightly higher Thursday morning. The company reported a fiscal second quarter profit of $469 million (79 cents per share), compared to $833 million ($1.30 per share) in the previous year.
Goodrich (NYSE:GR) shares increased .50 percent after reporting a 60.4 percent increase in net income for the fourth quarter. Marshall Larsen, Chairman, President and Chief Executive Officer said, “Goodrich’s fourth quarter results provided us with an excellent finish to a very eventful 2011. Thanks to the diligent efforts of all of our employees, we significantly exceeded expectations for earnings and cash flow for the fourth quarter and for the full year of 2011 and reached record levels of sales and profitability.”
Shares of Cigna Corp. (NYSE:CI) dropped nearly 7 percent after reporting a decrease in fourth quarter profits. The company reported a net income of $290 million ($1.04 per share), compared to $461 million ($1.69 per share) last year.
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Abercrombie & Fitch (NYSE:ANF) plummeted 11 percent after saying its fourth quarter adjusted earnings and revenue will likely disappoint Wall Street. The clothing retailer was forced to slash prices to attract customers in the previous holiday season. Shares of Gap Inc. (NYSE:GPS) jumped 11 percent after reporting better-than-expected results.
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