Market Roundup (JNJ, COP, TLAB, ALK, DAL, LUV, RYAAY)

Shares of Johnson & Johnson JNJ fell about 2% after the company reported its Q4 profit at $2.86 billion, or $1.03 per share, up from $2.85 billion, or $1.02 per share, in the year-ago period. The company's revenue dropped to $15.64 billion, from $16.55 billion, in the year-ago quarter. However, analysts were expecting earnings of $1.03 per share, on revenue of $16.02 billion. Kohlberg Kravis Roberts & Co announced its plans to purchase Barnett Shale properties from ConocoPhillips COP for an undisclosed amount. "Following the $40 million acquisition of Southeast Texas oil and gas assets in November, the transaction is the second investment made by KKR Natural Resources," the private equity firm said. Shares of Tellabs Inc TLAB dipped about 20% after the company swung to Q4 loss. Tellabs reported quarterly loss at $10.9 million, or $0.03 per share, versus a profit of $62.1 million, or $0.16 per share, in the year-ago period. Excluding some one-time items, the company's earnings came in at $0.02 per share. The company's revenue increased to $410 million from $389 million. However, analysts were expecting earnings of $0.08 per share on revenue of $418.4 million. TLAB projected its Q1 sales within a range of $315 million to $335 million, down from analysts' estimates of $418 million. Airline stocks were slightly lower, with the NYSE Arca Airline Index (XAL) losing about 1.28%. The decliners in the list included Delta Air Lines DAL, Southwest Airlines LUV and US-listed shares of Ryanair Holdings Plc RYAAY. Read more from Benzinga's Markets.