W W Grainger Inc (NYSE:GWW) (The Motley Fool)
What happened: Shares of industrial supplier WW Grainger Inc (NYSE:GWW) jumped as much as 17.4% in trading Wednesday after the company reported fourth-quarter results that topped expectations. As of 11:30 a.m. EST, shares were still 14% higher on the day. So what: Revenue was up 6.5% to $2.63 billion on an 11% increase in volume sold, and net income nearly tripled to $151.1 million, or $2.63 per share.
Cerus Corporation (NASDAQ:CERS) (Benzinga)
Cerus Corporation (NASDAQ:CERS) gained 18.7 percent to $5.14 after the biomedical products company issued an encouraging update to its phase 3 trial called INTERCEPT. Cerus said primary efficacy and safety endpoints were successfully achieved in a chronically transfused patient population and supports the company’s mark submission which is planned for the second half of 2018.
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Abbott Laboratories (NYSE:ABT) (CNBC)
Abbott Laboratories’ fourth-quarter results and 2018 adjusted earnings forecast beat Wall Street estimates as the healthcare company gains from its recent purchase of rivals such as St.Jude Medical and Alere. The company’s shares rose 2.6 percent to $60.75 before the bell on Wednesday. Sales from Abbott’s medical device business — its largest division — grew 9.6 percent on an operational basis to $2.74 billion in the quarter ending Dec. 31.
Texas Instruments Incorporated (NASDAQ:TXN) (Barron’s)
Shares of analog chip giant Texas Instruments (TXN) are down $6.14, or 5%, at $113.75, continuing last night’s after-hours decline, after the company forecast results this quarter just a little bit above consensus, which has prompted a debate over whether the business is slowing down. In addition, the company’s inventory rose during the quarter, which many are pointing to today as a concern.
Puma Biotechnology Inc (NASDAQ:PBYI) (Benzinga)
Puma Biotechnology Inc (NASDAQ:PBYI) shares dipped 26.4 percent to $66.95. Puma Biotechnology could face a setback in the launch of its breast cancer drug neratinib, as the European Medicines Agency’s Committee for Medicinal Products for Human Use, or CHMP, relayed a “negative trend vote” after a meeting with the biotech company. Cowen downgraded shares of Puma Biotech from Outperform to Market Perform and reduced the price target from $128 to $68.
Baker Hughes A GE Co (NYSE:BHGE) (Reuters)
(Reuters) – General Electric’s oilfield services company Baker Hughes (BHGE.N) reported fourth-quarter revenue on Wednesday that beat analyst estimates and profit that modestly exceeded forecasts as growing U.S. oil production spurred demand for its products. General Electric (GE.N) and Baker Hughes closed a merger of their oilfield services businesses in July, and Wednesday’s report was the second combined earnings release for the newly formed company. Shares sank nearly 5 percent to $34.05 in morning trading.
RPC, Inc. (NYSE:RES) (The Motley Fool)
What happened: Shares of RPC, Inc. (NYSE:RES) slumped on Wednesday, down 10% as of 10:45 a.m. EST, after the oil and gas services specialist reported fourth-quarter results. So what: RPC posted $427.3 million in revenue during the fourth quarter, which was a jaw-dropping 93.4% above the year-ago quarter.
General Dynamics Corporation (NYSE:GD) (Reuters)
(Reuters) – General Dynamics Corp (GD.N) said on Wednesday the U.S. administration’s lack of appointees at the Pentagon and failure of Congress to pass a federal budget contributed to the aerospace and defense company missing analysts’ sales expectations.
United Continental Holdings Inc (NYSE:UAL) (CNBC)
United Continental Holdings, the parent of United Airlines, posted earnings Tuesday that outpaced analyst estimates. But shares plunged in post-market trading during a long-awaited investor presentation in which the airline unveiled a strategy to add more seats to the market while keeping a lid on costs. Some analysts appeared unconvinced that the plan would help expand margins.
