Company News for April 27, 2009

• Chrysler announced contract approval from its Canadian union, which could save the company $197M annually. The firm's deadline for coming up with a recovery plan is Thursday

• General Motors (NYSE:GM) announces its third business plan at 9:00 AM ET today. Additional cuts are expected to include a debt exchange offer for bondholders of $27 billion unsecured debt, additional plant closures and the end of its 83-year old Pontiac brand

• Corning (NYSE:GLW) reported better-than-expected first quarter earnings of 10 cents a share, ex-items, beating estimates of 5 cents per share. Revenues in the quarter declined 39% year-over-year to $989 million, beating consensus estimates of $963.4 million

• Humana (NYSE:HUM) beat estimates with a quarterly earnings post of $1.22 a share, topping estimates by 5 cents a share on a 10.8% inline revenue increase to $7.7 billion.  The firm reaffirmed its 2009 earnings guidance of $6.10 to $6.20 a share, which is above Street estimates of $5.90 a share.  it expected revenues to reach $30.0 billion to $32.0 billion

• Whirlpool (NYSE:WHR) widely exceeded estimates with first quarter earnings of 91 cents a share, beating estimates of a 16 cent loss; revenues declined 22.6% to $3.57 billion. The company maintained its earnings guidance of $3.00 to $4.00 a share, which is above estimates of $2.98; however, the firm cut its expectations of US and Europe industrial shipments

• Verizon (NYSE:VZ) reported first quarter results of 63 cents a share, beating estimates of 59 cents a share and compared to 61 cents a share a year earlier, on revenues of $26.59 billion

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