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MARKET CURRENTS

  • 8:44 AM Merck (MRK) announces that top-line results of a study on Vorapaxar show that the drug significantly reduced the risk of cardiovascular events. The company plans to release full results in March. Comment! [Healthcare]
  • 8:41 AM P.H. Glatfelte (GLT): Q4 EPS of $0.32 beats by $0.05. Revenue of $391.9M (+4.2% Y/Y) misses by $11M. (PR) Comment! [Earnings, Consumer, Breaking News]
  • 8:39 AM More than 40 states have signed on to the mortgage settlement, bringing the deal to "the very final stages of remaining work,” Iowa AG Tom Miller says. But California’s Kamala Harris and New York’s Eric Schneiderman, outspoken in pushing for changes to the deal, are among those who hadn’t joined the agreement as of yesterday’s deadline for states to decide. Comment! [U.S. Economy]
  • 8:38 AM Belo (BLC): Q4 EPS of $0.26 beats by $0.02. Revenue of $180M (-13% Y/Y) in-line. (PR) Comment! [Earnings]
  • 8:37 AM Gaylord Entertainment Company (GET): Q4 EPS of $0.10 misses by $0.05. Revenue of $269.4M (+26.3% Y/Y) misses by $2.4M. (PR) Comment! [Earnings]
  • 8:37 AM Sprint (S) announces a partnership with Orange Business Services to provide a network of global machine-to-machine connectivity. The ability for Sprint to connect its devices to business customers' machines could add entirely new business segments for the company. Shares +3.3% premarket. Comment! [Tech, On the Move]
  • 8:36 AM Wal-Mart Canada (WMT) plans to spend $750M in 2012 to add 4.6M sq. ft. of retail space and create 14K jobs in the country. Of the 73 projects, 39 will be the conversion of Zellers outlets that it purchased last year, and the rest will be new stores and expansions or remodelings of existing ones. Comment! [Consumer]
  • 8:35 AM Knoll (KNL): Q4 EPS of $0.37 in-line. Revenue of $223.1M (-7% Y/Y) misses by $2.7M. (PR) Comment! [Earnings, Consumer]
  • 8:27 AM Wal-Mart (WMT) launches its "Great for You" program to reduce the fat, sugar and sodium in some of its private-label foods; it will market those items and other healthy products more aggressively starting in April. The move may help the company burnish its image while reaching more middle-income buyers and possibly making inroads into urban markets. Comment! [Consumer]
  • 8:23 AM Brazilian bank Itau Unibanco (ITUB) intends to pay up to 11.77B reais ($6.81B) to buy the almost 50% of card payment processor Redecard it doesn't already own. Comment! [M&A, Financials]
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