International Business Machines Corp. (IBM: chart), information technology operator, reported a fourth-quarter profit of $3.54 billion, or $2.31 per share, on revenue of $26.4 billion, but sales from the company''s hardware division were viewed as disappointing. IBM said hardware revenue totaled $7.2 bilion, up slightly from $6.9 billion a year ago, while the division''s gross margins slipped to 41% from 42% in the prior year.

Consolidated Edison Inc. (ED: chart), energy-related products and services provider, reported fourth-quarter earnings of $201 million, or 78 cents per share, up from a year-ago profit of $138 million, or 56 cents per share. Revenue declined to $2.82 billion from $3.12 billion in the same period a year earlier.

Nuveen Investments Inc. (JNC: chart), provider of investment services for institutional and rich private investors, said fourth-quarter net income rose 15% to $50.2 million, or 60 cents per share, from $43.5 million, or 53 cents per share in the year-ago period. Revenue jumped 24% to $195.6 million from $157.1 million a year earlier.

Fastenal Co. (FAST: chart), operates stores that sell industrial and construction supplies, said that its fourth-quarter earnings increased to $45.6 million, or 30 cents per share, compared with a year-ago profit of $39.2 million, or 26 cents per share. Revenue climbed to $448.7 million versus $384 million in the same period a year earlier.

KeyCorp (KEY: chart), banking and financial products and services provider, said Thursday fourth-quarter net income for the three months ended Dec. 31 fell to $146 million, or 36 cents a share, compared to $296 million, or 72 cents a share in the year-ago period. Operating income increased 10% to $311 million, or 76 cents a share from $284 million, or 69 cents a share in the year-ago period. The company took a loss of $165 million for discontinued operations on its Champion Mortgage finance business, which saw the sale of its nonprime mortgage loan portfolio.