Yahoo and Intel likely active By Sue Chang and Ben Eisen, MarketWatch NEW YORK (MarketWatch) — Disappointing earnings from Bank of America Corp. are pushing the stock lower in premarket action Wednesday. The financial heavyweight report earnings per share of 20 cents against analyst expectations of 22 cents. Bank of America BAC -3.26% also reported revenue of $23.7 billion, above expectations of $23.26 billion. The bank’s stock traded down 2.5% recently. Among other stocks to watch, eBay Inc. EBAY +2.10% will report its earnings after the market closes. The online auction is forecast to report earnings of 62 cents a share in the first quarter. “While management’s guidance for growth deceleration in marketplaces has been reflected in third-party data, trends improved over the course of the quarter and some of the first quarter’s negatives should become positives in the second quarter,� Goldman Sachs analyst Heath Terry said in a note on Monday. Yahoo Inc. and Intel Corp. are also likely to see active trading after reporting quarterly results the previous day. Shares of Yahoo YHOO -2.27% slumped over 4% late Tuesday after the web portal reported a first-quarter profit of $390.9 million, or 35 cents a share, up from $286.3 million, or 23 cents a share, in the year-earlier period. But revenue excluding traffic-acquisition costs totaled $1.07 billion, missing analysts’ estimate of $1.1 billion. Intel INTC +2.50% said after Tuesday’s closing bell that its first-quarter profit fell to $2 billion, or 40 cents a share, from $2.7 billion, or 53 cents a share, a year ago. Revenue fell 2% to $12.6 billion. The declines in net income and revenue were in line with Wall Street’s expectations. Other notable stocks to watch American Express AXP +0.76% is projected to post first-quarter earnings of $1.12 a share. The charge-off rate at American Express declined to 2% in March from 2.1% in February, which was in line with expectations, according to analysts at Janney Capital Markets. The stock, a Dow industrials component, is rated at neutral at Janney. Mattel Inc.’s MAT -0.09% first-quarter earnings soared Wednesday as a double-digit rise in American Girl doll sales drove the toy maker’s better-than-expected revenue growth. Its stock traded up 0.6% on the news. The toy maker reported a profit of $38.5 million, or 11 cents a share, up from $7.8 million, or two cents a share, a year earlier. Net sales increased 7.2% to $995.6 million. Analysts polled by Thomson Reuters had most recently forecast per-share earnings of nine cents on revenue of $986 million. Bank of New York Mellon Corp. BK +1.57% swung to a first-quarter loss on a large tax-related charge, although the trust bank’s assets under management and custody continued to grow. Excluding the tax charge, the company had per-share earnings of 50 cents during the latest period. Revenue was down 0.9% to $3.61 billion. Analysts polled by Thomson Reuters most recently forecast earnings of 52 cents on revenue of $3.61 billion. Shares were inactive premarket. Huntington Bancshares Inc.’s HBAN +0.98% first-quarter earnings slipped 1%, reflecting a double-digit percentage drop in noninterest income, that overshadowed strong credit and fewer expenses. Shares were inactive premarket. Piper Jaffray Cos. PJC +1.49% is expected to post first-quarter earnings of 53 cents a share. SanDisk Corp. SNDK +2.68% is likely to post earnings of 80 cents a share in the first quarter. SLM Corp. SLM +0.95% is forecast to report first-quarter earnings of 60 cents a share. St. Jude Medical Inc. STJ +2.13% is projected to post first-quarter earnings of 91 cents a share. Abbott Laboratories ABT +0.75% is expected to report earnings of 41 cents a share in the first quarter. Follow Sue Chang on Twitter at @SueChangMW. Ben Eisen is a MarketWatch reporter based in New York.

Source