United Technologies moved its earnings report to today because of the storm and investors weren’t impressed. The industrial conglomerate’s earnings were in line, but revenue missed estimates. It also gave a downbeat profit and sales outlook citing the negative effects of a stronger dollar and pension discount rate headwinds. Shares initially dropped after the bell. Before the close, the stock fell one percent to $118.75.
Texas Instrument also failed to wow investors with its after-hours report. Fourth quarter results matched estimates and guidance for the current quarter was also in line. Shares were volatile after the release. Before the close shares were off by just a penny to close at $55.05.
D.R. Horton saw its revenue jump as it delivered more homes in its first quarter. On that, the home builder’s results beat on both the top and bottom lines. Shares popped 5.5 percent to $24.38.
Norfolk Southern’s revenue fell on lower coal shipments. The rail operator’s profits did manage to top estimates and it expects the solid U.S. economy to help business in 2015, but it still doesn’t know what the overall impact of lower energy prices will be. Shares were up one percent to $106.11.
MeadWestVaco & Rock Tenn
MeadWestVaco and Rock Tenn will combine in a deal that will combine in a deal that will create a company with about $16 billion in annual sales. MeadWestVaco’s shareholders will receive stock in the new company and Rock Tenn will have a choice of either cash or stock. Shares of MeadWestVaco surged 14 percent to $51.35. Shares of Rock Tenn were six percent higher, closing at $66.85.
Shares of Mattel tumbled after its CEO stepped down and the company warned that sales fell during the holiday quarter. One of the toy maker’s longtime board members will step up as interim CEO. Shares fell five percent to $26.64.