Applied Materials Inc. (NDAQ:AMAT), the top supplier of equipment for making microchips, released that their Q1 profit nearly tripled and that Q2  revenue could rise as much as 5%, sending its shares up 4.5%.  Sales are estimated to grow to $2.28 billion to $2.39 billion.

Kraft Foods (NYSE:KFT) could be planning to make an acquisition or two, due to their restructuring plan following its spin-off from Altria, that could open the door for the company to combine with a rival, extending the firm's global reach. HJ Heinz, Groupe Danone, and Cadbury Schweppes are potential targets. Kraft's estimated ratings and price target have both been increased.  

KB Home (NYSE:KBH) reported a loss in its Q4.  KB Home posted a loss of $49.6 million, or $0.64 a share, versus a profit of $304.4 million, or $3.44 per share during the same period in 2005. However, revenue rose 13% to $3.55 billion from $3.15 billion.
Alcoa Inc. is being targeted by two foreign mining giants who are each preparing $40 billion takeover bids for the aluminum producer, a British newspaper reported. Alcoa shares rose nearly 6%, although some analysts questioned whether such a deal was likely. Alcoa shares have already increased 20% year to date, against a market that has grown just 1.4%.

Time Warner Cable Inc. (NYSE:KBH) officially became a public company Tuesday after a judge cleared the way for a reorganization plan for Adelphia Communications Corp., which is being acquired by Time Warner Cable and Comcast Corp.; Time Warner Cable, the second-largest cable provider in the country after Comcast, said its shares would begin trading on the New York Stock Exchange as early as March 1 under the ticker symbol "TWC." Time Warner Cable will distribute 156 million shares of its stock, or about 16% of its total outstanding shares, to stakeholders in Adelphia. That stake is valued at approximately $6 billion.

The senior vice president of Dell Inc.'s (NDAQ:DELL) global online business and marketing division has decided to leave the computer maker rather than oversee the company's new consumer group. This all comes a few weeks after founder Michael Dell resumed his role as chief executive officer, replacing Kevin Rollins. Dell has been making many executive changes lately amid mounting problems that include disappointing earnings, eroding market share, an ongoing federal accounting investigation and several shareholder class-action lawsuits. Dell also has recently lured executives from General Motors Corp., Hewlett-Packard Co., Amazon.com Inc. and Wells Fargo & Co. Dell shares rose $0.10 to close at $23.61.  

Broadband service provider Covad Communications Group Inc. (AMEX:DVW) said it expects to report a wider loss in 2007. The company expects a net loss between $15 million and $39.5 million on sales between $490 million and $525 million. In 2006, Covad posted a loss of $13.9 million, or $0.05 a share, on revenue of $474.3 million.

Merrill Lynch upgraded its recommendation on shares of General Motors Corp. (NYSE:GM) to "buy" from "sell," on the belief that the auto maker will use its liquidity and assets to continue to cut costs. At the same time, Merrill cut Ford Motor Co. to "sell" from "neutral" because the stock may be overvalued. News of the GM upgrade helped the stock hit its highest level since August 2005 in early trading on the NYSE. The shares closed up $0.88, or 2.5%, at $36.59. The stock traded as high as $37.24. Ford's shares fell $0.20, or 2.31%, to close at $8.45.  

First Solar Inc. (NDAQ:FSLR) rose in aftermarket trading Tuesday after the Phoenix-based maker of solar power modules reported a Q4 profit, topping Wall Street's expectation for a quarterly loss. Revenue also beat analyst projections. The stock was up $5.42, or 15.8%, to $39.70 in aftermarket electronic trading, after gaining $1.18, or 3.6%, to finish at $34.28 on the Nasdaq.

Titanium Metals Corporation (NYSE:TIE) reported operating income of $109.5 million for the quarter ended December 31, 2006 compared to $63.0 million for the quarter ended December 31, 2005, an increase of 74%. The company also reported net income attributable to common stockholders of $110.6 million, or $0.61 per diluted share, for the quarter ended December 31, 2006, compared to $38.6 million, or $0.23 per diluted share, for the same quarter the previous year.  

Nvidia Corp. (NDAQ:NVDA) posted a 68% rise in quarterly profit as the graphics chipmaker had strong sales of its chips for desktop and notebook personal computers. Nvidia said Q4 net income rose to $163.5 million, or $0.41 a share, from $97.4 million, or $0.26 a share, a year ago. Revenue jumped to $878.9 million from $633.6 million.