Companies whose shares are expected to trade actively in today's session are International Business Machines Corp. (NYSE:IBM), Google Inc (NASDAQ:GOOG), MAP Pharmaceuticals Inc. (NASDAQ:MAPP), Annies Inc (NYSE:BNNY), Coach Inc. (NYSE:COH) and Molycorp Inc (NYSE:MCP).
International Business Machines Corp. (NYSE:IBM): IBM's fourth quarter earnings topped analysts estimates. The tech giant reported a revenue of $29.3 billion with $5.39 per share in earnings. Analysts were expecting $5.25 per share with $29.09 billion in revenues. The better than expected results were due to growth in profitable areas of cloud computing and business analytics software. Shares jumped 5 percent to $205.88 in the early session.
Google Inc (NASDAQ:GOOG): The search engine giant reported a 6.7 percent increase in its fourth quarter earnings. The company generated $14.42 billion in sales with earnings of $10.65. The Internet company continues to perform strongly in its core business. The increased online advertising prices also helped Google Inc (NASDAQ:GOOG). Shares surged 5.82 percent to $743.83 in early trading.
MAP Pharmaceuticals Inc. (NASDAQ:MAPP): Allergan, Inc. (NYSE:AGN) said it has agreed to acquire MAP for $958 million. Allergan has offered $25 per share of MAP Pharmaceuticals Inc. (NASDAQ:MAPP), or 60 percent premium to its Tuesday closing price. The negotiations began when the two firms agreed to jointly sell Levadex, a migraine drug by MAP. The drug is yet to be approved by U.S. FDA. Shares jumped 58.73 percent to $24.73.
Annies Inc (NYSE:BNNY): The organic food maker has decided to recall its frozen pizza products after fragments of metal mesh were reported in pizza dough and flour supplier by a third party. Shares of the company tanked 4.42 percent to $36.77 in early market trading.
Coach, Inc. (NYSE:COH): The company's second quarter earnings fell short of Wall Street estimates amid poor Holiday sales in North America. The same-store sales of the luxury handbag maker fell 2 percent. Shares were down 15 percent to $51.65.
Molycorp Inc (NYSE:MCP): The company is offering $100 million in debts and $200 million in stock. The proceeds will be used to develop a rare-earth manufacturing complex in Mountain Pass, California. Shares dipped 7 percent to $8.21 in early trading.