According to Reuters, BP (BP) posted a drop in Q4 profits, but numbers were better than expected. Guidance going forward was disappointing.

Reuters writes that Toyota’s (TM) most recent quarter showed strong results with profits up almost 20% on strong sales in the US and Europe.

Reuters writes that Equity Office (EOP) announced that Blackstone raised the price of its offer in a bidding war with Vornado (VNO).

Reuters also reports that GM’s (GM) spending in China is expected to remain about $1 billion a year.

Reuters also writes that Kodak (EK) is launching a line of desktop printers to compete with market leader Hewlett-Packard (HPQ).

Reuters also writes that NEC (NIPNY) is cutting its estimates for cell phone shipments in Q1 by 8%.

The Wall Street Journal writes that Home Depot (HD) added David Batchelder to avoid a proxy fight.

The Wall Street Journal also writes that Carl Icahn is making a $2.75 billion bid for Lear (LEA) a maker of automotive parts.

The Wall Street Journal also reports that Hewlett-Packard (HPQ) has launched a video download service and set up a partnership with Wal-Mart (WMT). The service allows retailers to set up websites for downloading movies to customers or selling DVDs online.

The New York Times writes that Wal-Mar (WMT)t will launch a video download site with all six major studios: Universal (GE), Sony (SNE), Warner (TWX), Paramount (VIA), 20th Century Fox (NWS), and Disney (DIS).

FT writes that GE (GE) is increasing its drive into the water market by buying 95% of a firm in France.

Barron’s reports that Microsoft’s (MSFT) stock fell Monday on concerns that Vista is priced into the company’s shares and any disappointment could move them lower.

Douglas A. McIntyre

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