Stocks to Watch: Sprint, News Corp., Visa
NEW YORK -- Sprint Nextel(S) is expected by analysts Thursday to post a fourth-quarter loss of 46 cents a share on revenue of $8.92 billion.
A year earlier, the telecommunications giant posted a quarterly loss of 43 cents a share.
Sprint reached a $20 billion deal last year that gives Japanese company Softbank a 70% stake in Sprint.
News Corp.(NWSA) posted adjusted earnings for its fiscal second quarter of 44 cents a share on revenue of $9.43 billion, topping analysts' estimates for profit of 43 cents a share on revenue of $8.98 billion.
The media giant, however, cut its annual forecast for operating income.
Boeing(BA) is proposing certain battery design changes that would minimize the risks of fire on its grounded 787 Dreamliner and allow the planes to begin flying again as soon as March, The Wall Street Journal reported, citing government and industry officials briefed on the matter..
Visa(V) said fiscal first-quarter net income rose 25% to $1.3 billion and revenue rose almost 12% percent to $2.85 billion.
Visa said transactions processed over its Visa network totaled $14.2 billion, an increase of 4% from a year earlier.
Credit Suisse(CS) , Switzerland's second-biggest bank, swung to a profit in the fourth quarter but said it was planning to cut costs more than previously planned.
The bank recorded a profit of 397 million Swiss francs ($435 million) during the quarter, compared with a year-earlier loss of 637 million francs.
Yelp (YELP) missed Wall Street's fourth-quarter earnings expectations on Wednesday and gave guidance that showed revenue growth was slowing.
Yelp posted a quarterly loss of 8 cents a share on revenue of $41.2 million, up 65% from a year earlier. Analysts expected the review aggregator to lose 5 cents a share on revenue of $40.29 million.
Yelp said it expects first-quarter net revenue of between $44 million and $44.5 million, growth of 62% compared to the first quarter of 2012. For the full year, Yelp believes sales will range between $210 and $212 million, a 53% year-over-year rise.
-- Written by Joseph Woelfel
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