Shares of Alcatel-Lucent (NYSE:ALU) are down 15% in early trading. The company announced that revenues decreased 6.8% in the third quarter, and plans to keep cutting costs over the next few quarters. Competitor Cisco (NASDAQ:CSCO) and Hewlett-Packard (NYSE:HPQ) are edging higher on the news.
Starbucks (NASDAQ:SBUX) is climbing more than 3% before the opening bell. Late Thursday, the company reported its results for the fourth quarter. Net income for the specialty eatery rose to $358.5 million (47 cents per share), compared to $278.9 million (37 cents per share) in the same quarter a year earlier. This marks a rise of 28.5% from the year earlier quarter. Revenue rose 6.8% to $3.03 billion from the year earlier. Competitors include: McDonald’s (NYSE:MCD), Dunkin’ Brands (NASDAQ:DNKN), Green Mountain Coffee (NASDAQ:GMCR), and Peet’s Coffee & Tea (NASDAQ:PEET).
Google (NASDAQ:GOOG) is edging down nearly 1% early Friday. The company just announced plans to offer streaming channels on YouTube, and is now thinking about launching a full pay TV service in areas where it’s built out residential fiber networks. Competitors include: Time Warner (NYSE:TWX), Netflix (NASDAQ:NFLX), and Apple (NASDAQ:AAPL).
McGraw-Hill (NYSE:MHP) announced plans to combine its S&P Indices business with CME Group’s (NASDAQ:CME) Dow Jones Indexes. McGraw-Hill will own 73% of S&P/Dow Jones Indices, while CME Group will own 24.4% through its affiliates.
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American International Group (NYSE:AIG) is falling more than 4% at the open after reporting a third quarter loss of $4.1 billion ($2.16 per share), compared to a loss of $2.5 billion ($18.53 per share) last year. Other financial giants to keep an eye on include: Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), and Goldman Sachs (NYSE:GS). Dig Deeper: American International Group Inc Earnings Cheat Sheet: Two Straight Quarters of Profit Broken by a Loss.