News Summary

Shares of Verizon Communications Inc VZ dropped about 0.1% after the company reported its Q4 net profit at $2.64 billion, or $0.93 per share, compared with $617 million, or $0.22 per share, in the year-ago period. The company's earnings included $0.39 per share in net non-operational gains. However, analysts were expecting Q4 earnings of $0.55 per share. The company's operating revenue came in at $26.4 billion, down from $27.09 billion, in the year-ago quarter. Shares of Navistar International Corp NAV surged about 8.5% after the company projects to report its 2011 earnings of $5 to $6 per share. However, analysts expected earnings of $4.68 per share. Shares of Baker Hughes Inc BHI gained about 3.5% after the company reported its Q4 results. The company's net income came in at $335 million, versus $84 million, in the year-ago quarter. On a diluted basis, the company reported its earnings at $0.77 per share, up from $0.27 per share, in the year-ago period. The company's revenue surged to $4.42 billion from $2.43 billion in the year-ago quarter. Chad C. Deaton, chairman and chief executive officer of Baker Hughes said, "Looking ahead, we expect the economic recovery to continue resulting in increased oil demand and support for higher oil prices and a sustained multi-year expansion of international spending. However, at the current pace, we do not expect meaningful price leverage in our international markets until late 2011." Read more from Benzinga's Markets.