Thursday, January 17, 2013 4:58 pm
Bank of America, CBS, eBay are market movers
The Associated Press
Bank of America Corp., down 50 cents at $11.28
The bank's fourth-quarter earnings and revenue fell as it worked through legal and regulatory problems related to mortgages.
Fifth Third Bancorp, up 74 cents at $16.29
Helped by improving credit conditions, the regional banker reported that its fourth-quarter net income jumped 28 percent.
BlackRock Inc., up $9.76 at $232
The investment manager said that its fourth-quarter net income climbed 24 percent, topping what Wall Street analysts expected.
Williams-Sonoma Inc., down $2.45 at $44.68
The retailer, which also owns Pottery Barn and West Elm, forecast fourth-quarter sales and earnings below Wall Street estimates.
CBS Corp., up $3.01 at $40.95
The media company said that it will convert its U.S. outdoor advertising business into a real estate investment trust.
eBay Inc., up $1.27 at $54.17
Fourth-quarter earnings at the online retailer beat expectations as bargain-hunting holiday shoppers flocked to its Internet services.
Columbia Sportswear Co., down $1.36 at $50.80
The outdoor clothing company cut its fourth-quarter sales outlook citing mild winter weather, which hurt sales of outdoor gear.
Power-One Inc., down 42 cents at $3.92
The solar equipment maker forecast a fourth-quarter loss and cut revenue estimates due to weak European demand.