• Kraft (NYSE:KFT) reported third quarter earnings of 55 cents a share on revenues of $9.8 billion, beating Zacks estimates of 48 cents, but slightly below revenue projections of $10.24 billion

• MedcoHealth Solutions (NYSE:MHS) reported third quarter earnings of 75 cents ex-items, 4 cents above Zacks estimates, on revenues of $14.80 billion, up from estimates of $14.71 billion

• Miller Tabek upgraded entertainment stocks such as CBS (NYSE:CBS), Entravision (NYSE:EVC), News Corp. (NASDAQ:NWS), Viacom (NYSE:VIA.B), and Disney (NYSE:DIS) from "neutral" to "buy"

• Disney (NYSE:DIS) said China approved its plans for a $3.5 billion theme park in Shanghai, set to open in 2014 at the earliest

• Time Warner (NYSE:TWX) reported third quarter earnings of 61 cents a share, ahead of Zacks estimates of 52 cents.  Revenue of $7.14 billion was almost inline with Zacks estimates.  The firm said it sees full-year earnings of at least $2.05

• Garmin (NASDAQ:GRMN) reported third quarter earnings

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Energizer Holdings (ENR) reported results for the fourth quarter with earnings of 53 cents per share. Earnings were well below the Zacks Consensus Estimate of $2.01 and were down 68% year-over-year. Total sales declined 3.9% year over year to $1.1 billion, primarily due to sales declines in Household Products and the unfavorable impact of foreign exchange. Net sales in the Household Products category fell 14.0%, as prior-year shipments due to hurricanes and early holiday shipments ahead of announced price increase did not repeat in the current year quarter. Further, currency also impacted the top line unfavorably by $25 million. However, net sales in the Personal Care segment increased 12% primarily from the shave preparation acquisition. Gross margin for the quarter contracted 371 basis points (bps) to 43.9% versus 47.6% in the prior-year quarter. The decline was attributable to the unfavorable impact of currency and inventory ...

Procter & Gamble (PG), already one of the world's largest beauty and grooming companies, has acquired the Zirh skincare brand -- a leading super-premium, male grooming brand. Zirh enjoys a unique positioning as a high-end "male only" brand and has one of the most comprehensive skin and shave care lines in the global market. Similar to the recent acquisition of The Art of Shaving, the acquisition of Zirh supports P&G’s Beauty & Grooming segment in building the world's premier male grooming company. The acquisition also broadens the already strong portfolio of male brands, including Gillette, Old Spice, and Braun. Although Zirh is a relatively small, North American-centric business, its super-premium positioning and product line should complement portfolio of P&G. Zirh’s products differentiate themselves through ingredients like natural oils, extracts and botanicals and a focus on the specific skincare needs of men. Energizer Holdings (ENR) ...