business

Ford's Bottom Line Goes into Reverse

Citigroup, GE, Yahoo! among big names posting results; plus more of today's stocks in the news

Ford Motor (F ) recorded a $0.48 4Q loss from operations vs. $0.57 EPS on a 3.4% revenue drop. The car maker says its North American production forecast calls for making 1.05M cars and trucks in 1Q, down 3% from the year-earlier quarter.

General Electric (GE ) posted $0.39 vs. $0.36 4Q EPS on 3% revenue rise.

Shares of IBM Corp. (IBM ) were up after Lehman upgraded the company to buy from market perform.

Calpine (CPN ) was down after Salomon downgraded the power generator to neutral from outperform, while CIBC World Markets cut its estimates for the company. On Wednesday, Calpine forecasted $1.95 2001 EPS, and announced a cutback in its capital spending budget.

Shares of Symantec (SYMC ) surged after the provider of network security products posted a $0.78 vs. $0.52 3Q EPS from operations on a 20% revenue rise. S&P maintains a buy rating, while Lehman raised the stock to buy from market perform.

Citigroup ( C ) posted $0.74 vs. $0.65 4Q core EPS on a 12% rise in adjusted revenues.

Compaq Computer (CPQ ) posted $0.06 vs. $0.30 4Q EPS from operations on 26% revenue decline. The computer maker said it sees $0.01 1Q EPS on revenue of about $7.6B. S&P maintains a hold rating on the stock.

Yahoo (YHOO ) posted better than expected $0.03 vs. $0.13 4Q EPS on 39% revenue decline. It sees $0.01-$0.02 1Q EPS (pro forma) on $160M-$180M revenue, $0.07-$0.10 2002 EPS on $750M-$800M revenue.

Minnesota Mining & Manufacturing (MMM ) says 4Q EPS will slightly exceed $0.97 consensus. On Wednesday, shares were lower on worries about potential asbestos liability.

Goldman downgraded shares of AMR (AMR ) to market perform from trading buy. On Wednesday, the parent of American Airlines posted $4.75 4Q loss vs. $0.34 EPS from operations.

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