The Stocks Wall Street Is Watching

The following stocks may be impacted due to significant news as noted:

Semiconductor equipment maker Applied Materials (AMAT | Quote | Chart | News | PowerRating) announced it will eliminate 2,000 jobs to lower costs. The company is the world's largest maker of computer chip production equipment.

Food processing company Kraft Foods (KFT | Quote | Chart | News | PowerRating) has been upgraded by Banc of America to "buy" from "neutral".

Household and personal product maker Proctor and Gamble (PG | Quote | Chart | News | PowerRating) has raised its third-quarter guidance to 13-14% earnings per share growth vs. a consensus of 11-13%.

Railroad stocks have had their estimates reduced by UBS Warburg who believes it will be a tough first-quarter for the sector. Companies with reduced estimates are: (UNP | Quote | Chart | News | PowerRating), BNI|BNI], (CSX | Quote | Chart | News | PowerRating) (NSC | Quote | Chart | News | PowerRating), and (KSU | Quote | Chart | News | PowerRating).

Computer hardware company Tech Data (TECD | Quote | Chart | News | PowerRating) has beat its fourth-quarter earnings per share by $0.03 with profits of $0.58 per share.

Pre-market action:

(GERN | Quote | Chart | News | PowerRating) +21%, (HGSI | Quote | Chart | News | PowerRating) +11.7%, (ASML | Quote | Chart | News | PowerRating) +8%, (ILXO | Quote | Chart | News | PowerRating) +7%, (PG | Quote | Chart | News | PowerRating) +0.5%.

(ISTA | Quote | Chart | News | PowerRating) -23.5%, (CCUR | Quote | Chart | News | PowerRating) -18%, (INCY | Quote | Chart | News | PowerRating) -11%, (VERS | Quote | Chart | News | PowerRating) -9.5%, (CNCT | Quote | Chart | News | PowerRating) -2% (EXPE | Quote | Chart | News | PowerRating) -1.6%, (TECD | Quote | Chart | News | PowerRating) -1.6%.