Company News Briefs: Ford Beats Loss Estimates, Credit Suisse Upgraded

Schlumberger (SLB) reported first quarter net income of $938.5 million, or 78 cents a share, down from $1.3 billion, or $1.09 a year earlier, and beat estimates of 73 cents a share, as revenues declined to $6.0 billion from $6.29 billion

Credit Suisse (CS) received an upgrade to “neutral” from “sell” from UBS (NYSE:UBS), on expected stronger revenue momentum and capital generation at its investment banking unit

Media reports said Chrysler is readying its Chapter 11 bankruptcy filing for submission as soon as next week

Honeywell (HON) reported inline first quarter results of 54 cents a share as revenues, as expected, fell 15% to $7.57 billion. For the full year, earnings are expected in a range of $2.85-$3.20. Street estimates are $3.03

American Electric Power (AEP) reported first quarter results of 89 cents, topping estimates by 2 cents, on in-line revenues of $3.5 billion. Corporate guidance matched Street projections

Xerox (XRX) reported better-than-expected first quarter results of 5 cents, a one penny improvement over estimates, as revenues fell 18% to $3.55 billion, in line. The company expects second quarter results of 10-12 cents versus 14 cents

Ford (F) topped Street estimates with a 75-cent loss, better than the anticipated loss of $1.23, as revenues fell 42.7% to $24.8 billion. The company maintained its target for a breakeven or improved 2011

3M (MMM) reported a nickel miss, with earnings of 81 cents versus 86 cents as revenues came in at $5.09 billion, missing estimates of $5.22 billion. The company lowered 2009 full-year EPS to a range of $3.90-$4.30, vs. consensus estimates of $4.01

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