Stock Market News Briefs: Abercrombie & Fitch Company, Astrazeneca PLC, Curtiss-Wright Corporation, General Electric Company, Goldman Sachs Group, Inc. (The), J P Morgan Chase & Co, Kraft Foods Inc., Merck & Company, Inc., Spectra Energy Corp, Terra Industries Inc., Autodesk, Inc., Rigel Pharmaceuticals, Inc.

•  Kraft (KFT: 28.97 -0.12 -0.41%) posted better-than-expected fourth quarter earnings, with results 3 cents ahead of estimates at 48 cents, but revenues of $11 billion were just below $11.07 billion projections

•  Merck (MRK: 37.66 +0.74 +2.00%) beat earnings and sales estimates and backed 2010 guidance, with adjusted earnings of 79 cents, a one cent beat, and revenues of $10.1 billion, up from estimates of $9.38 billion

•  Abercrombie and Fitch (ANF: 35.25 +1.40 +4.14%) posted better-than-expected earnings of 91 cents a share, up from 87 cent projections on revenues of $936 million, off estimates of $954 million

•  Curtiss-Wright (CW: 29.93 +0.33 +1.11%) posted better-than-projected sales and earnings for its fourth quarter, with earnings of 76 cents, a two-penny beat, on revenues of $503 million up from $495 million estimates. The company said it sees full-year earnings of $2.15 to $2.25 a share

•  Goldman Sachs (GS: 157.40 +3.47 +2.25%) upgraded Auto Desk (ADSK: 25.24 +1.02 +4.21%) to “buy,” with a price target of $30, up from $27

•  Oppenheimer issued a report on General Electric (GE: 16.04 +0.49 +3.15%), in which they forecast declining write-offs and provisions at GE Capital sooner and earlier projected with rating reiterated at “outperform,” and a price target of $20.

•  JP Morgan (JPM: 40.07 +1.12 +2.88%) reportedly plans to pay $1.7 billion for Sempra Energy (SE: 21.30 +0.57 +2.75%)

•  Terra Industries (TRA: 40.69 +7.44 +22.38%) accepted a $4.1 billion takeover bid from Norway’s Yara

•  Rigel Pharmaceuticals (RIGL: 8.56 -0.87 -9.23%) reached a deal to license its rheumatoid arthritis drug to AstraZeneca (AZN: 43.93 -0.01 -0.02%) for as much as $1.25 billion before royalties