• Reports say Schlumberger (NYSE:SLB) is in talks to buy Smith International (NYSE:SII) for an estimated $9 billion
• CBS (NYSE:CBS) posted inline four quarter earnings of 25 cents ex-items on revenues of $3.50 billion, up from Zacks estimates of $3.44 billion
• Dell (NASDAQ:DELL) reported adjusted fourth quarter results of 28 cents, one cent ahead of Zacks estimates, on revenues of $14.9 billion, beating Zacks estimates of $13.8 billion on improving notebook PC shipments
• FBR reiterated its “outperform” rating on Chesapeake Energy (NYSE:CHK), while raising the price target to $40 from $35
• Adobe Systems (NASDAQ:ADBE) received a FBR ratings upgrade to “outperform” from “market perform” with its price target raised to $39 from $36
• Liz Claiborne (NYSE:LIZ) received a ratings upgrade from “hold” to “buy” with a price target of $7.50 from analysts at KeyBanc (NYSE:KEY)
• Toyota’s (NYSE:TM) president agreed to testify before Congress next week
• Nestle (NASDAQ:NSRGY) reported 2009 results, a 14.3% dividend hike, and a $9.25 billion share buyback for 2010. Earnings of $2.68 per share, or $9.55 billion, were reported on revenues of $99 billion
