Verizon, Delta, IBM are stocks to watch Tuesday

SAN FRANCISCO (MarketWatch) — With several Dow Jones Industrial companies slated to announce results, Tuesday is expected to be a busy day for earnings as investors focus on quarterly performance data from Verizon Communications Inc., Delta Air Lines Inc., and International Business Machines Corp.

The stock market will be closed on Monday due to Martin Luther King, Jr. Day.

Bloomberg Verizon Wireless signage is displayed outside of a store in New York, U.S., on Tuesday, Sept. 3, 2013.

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Dow component Verizon (VZ)  is projected to report fourth-quarter earnings of 62 cents a share, according to a consensus survey by FactSet. "Among the four largest carriers, we continue to favor Verizon as we believe the company will be able to maintain its leadership position by effectively and profitably growing its subscriber base," said Greg Miller, an analyst at Canaccord Genuity, in a report.

Delta (DAL)  is forecast to post earnings of 63 cents a share in the fourth quarter.

IBM (IBM) , also on the Dow, is expected to post fourth-quarter earnings of $5.99 a share. "We maintain our neutral on IBM ahead of their upcoming earnings results. The risk/reward is more balanced at present stock price levels, but ultimately IBM will need to return to growth to drive stock price appreciation," Joseph Foresi, an analyst at Janney Capital Markets, said in a note.

Johnson & Johnson (JNJ) , another blue chip, is likely to report earnings of $1.20 a share in the fourth quarter.

Halliburton Co. (HAL)  is forecast to post earnings of 89 cents a share in the fourth quarter.

Travelers Inc. (TRV) , the only financial stock in the Dow reporting Tuesday, is expected to turn in earnings of $2.16 a share in the fourth quarter.

Regions Financial Corp. (RF)  is likely to post fourth-quarter earnings of 20 cents a share.

Texas Instruments Inc. (TXN)  is projected to report earnings of 46 cents a share in the fourth quarter. "We expect TI to print a slight Q4 beat on steady broad based demand and provide Q1 guidance largely in-line with Street estimates," said Betsy Van Hees, an analyst at Wedbush.

After Friday's closing bell, Jos. A. Bank Clothiers Inc. (JOSB)  said its board rejected rival Men's Wearhouse's Inc's (MW)  sweetened bid to acquire the company for $57.50 a share. The offer is "inadequate from a financial point of view and not in the best interest of Jos. A. Bank's stockholders," the company said in a statement.

Late Friday, Intel Corp. (INTC)  said it will cut more than 5% of its workforce this year, roughly about 5,400 employees, amid a sustained slowdown in the PC industry. The workforce reduction would be an ongoing process throughout 2014, an Intel spokesman said.