UPDATE: Companies Postpone Earnings Reports in Light of Hurricane Sandy
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Pfizer (NYSE:PFE)
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Today : Tuesday 30 October 2012
--Pfizer, Thomson Reuters and others postpone results
--U.S. stock and options markets close Monday because of hurricane
--Conference Board postpones release of its October consumer-confidence report
(Updates with details about additional companies beginning in fifth paragraph)
By Saabira Chaudhuri and Nathalie Tadena
A number of U.S. companies disclosed plans to postpone their quarterly reports because of the pending arrival of Hurricane Sandy on the East Coast, a move that comes during one of the busiest weeks of the third-quarter earnings season.
Among those delaying reports are pharmaceutical company Pfizer Inc. (PFE), financial-data-and-news provider Thomson Reuters Corp. (TRI, TRI.T) and education-and-financial-content provider McGraw-Hill Cos. (MHP).
Pfizer moved its announcement to Thursday, as did media-and-merchandise company Martha Stewart Living Omnimedia Inc. (MSO), while Thomson Reuters postponed its earnings to Friday. All three companies were slated to unveil results Tuesday. Martha Stewart Living's main offices, at the far west of New York's Chelsea neighborhood overlooking the Hudson River, are in the city's mandatory evacuation zone.
Meanwhile, TD Ameritrade Holding Corp. (AMTD) moved up its fiscal fourth-quarter earnings release to Monday from Tuesday.
Avon Products Inc. (AVP) postponed its earnings announcement to Thursday from Tuesday, while Hertz Global Holdings Inc. (HTZ) moved its report back by a day, to Wednesday. Energy company Exelon Corp. (EXC) moved its earnings release to Thursday from Wednesday. Liberty Mutual Holding Co. has canceled its conference call scheduled for Tuesday. It said its earnings release will be available on its website as soon as possible.
Power-plant operator NRG Energy Inc. (NRG) moved its earnings announcement to Friday from Wednesday as did McGraw-Hill, and Entergy Corp. (ETR) rescheduled to Nov. 5 from Tuesday.
"With many of our shareholders, financial analysts, employees and others living in and around the storm's projected path, rescheduling our earnings call was an easy decision to make," Entergy Chief Executive J. Wayne Leonard said.
In all, the companies that have delayed their reports include the following:
