Replies to post #16 on Earning Plays

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Monday, Oct. 29
Vulcan Materials profit slips, sees more housing drag(7:48 pm ET)
SAN FRANCISCO (MarketWatch) -- Vulcan Materials, Inc. (VMC: news, chart, profile) , the largest producer of construction aggregates in the United States, said late Monday net income in the third quarter edged down to $135.4 million, or $1.38 a share, from $135.7 million, or $1.39 a share, in the year-ago quarter. Profit in the most recent quarter included a 9 cents a share loss from discontinued operations. Earnings from continuing operations were $144 million, or $1.47 a share. Analysts polled by Thomson Financial were anticipating earnings from ongoing operations of $1.59 a share. Sales slipped 0.4% to $844.9 million, also missing views of $952.4 million. The Birmingham, Ala. company said it expects aggregate volumes in the fourth quarter will continue to be "hampered" by a downturn in residential construction and plans to close its acquisition of Florida Rock Industries (FRK: news, chart, profile) then. Ahead of the report, shares closed 0.4% higher at $88.56. (Adds earnings from continuing operations.)
EOG Resources profit falls 32% (5:01 pm ET)
SAN FRANCISCO (MarketWatch) -- Natural-gas and oil producer EOG Resources Inc. (EOG: news, chart, profile) posted late Monday third-quarter net income of $202.4 million, or 82 cents a share, down from $297.3 million, or $1.21, a year ago. Revenue for the three months ended Sept. 30 was $990.5 million, up 2.3% from $968.7 million a year ago. Analysts polled by Thomson Financial had forecast the Houston-based company would earn 79 cents a share on $971 million in revenue. Shares of EOG Resources rose 0.7% to $82.51 ahead of the report. The stock is up about 31% so far this year.
Pitney Bowes profit falls 14%, warns for 4Q(4:40 pm ET)
SAN FRANCISCO (MarketWatch) -- Postage-meter maker Pitney Bowes Inc. (PBI: news, chart, profile) on Monday posted a third-quarter profit of $127.7 million, or 58 cents a share, down from $148.6 million, or 67 cents a share, a year earlier. Excluding tax and impairment charges, earnings per share from continuing operations came in at 63 cents. Sales rose 5% to $1.5 billion. Analysts polled by Thomson Financial were looking for a profit of 74 cents a share on sales of $1.56 billion. For the fourth-quarter, the company said it expects to post a profit of 67 cents to 71 cents a share, excluding charges. Wall Street previously forecast earnings of 84 cents a share. The stock fell 11% to $41.98 in after-hours trades.
Hanover quarterly net jumps 61%; new buyback unveiled(4:39 pm ET)
SAN FRANCISCO (MarketWatch) -- The Hanover Insurance Group Inc. (THG: news, chart, profile) said late Monday that third-quarter net income came in at $53.9 million, or $1.03 a share, up 61% from a year earlier when the insurer made $33.4 million, or 65 cents a share. Segment income, which excludes net realized investment gains and losses and some other items, was $53 million, or $1.01 a share, the company reported. The company was expected to make $1 a share, according to the average estimate of seven analysts in a Thomson Financial survey. Hanover also unveiled a new $100 million share buyback.
Principal quarterly net falls; operating profit jumps(4:23 pm ET)
SAN FRANCISCO (MarketWatch) -- Principal Financial Group (PFG: news, chart, profile) said late Monday that third-quarter net income came in at $240.5 million, down from a year earlier when the 401k specialist made $259.2 million. Net income available to common shareholders was 87 cents a share vs. 92 cents a share. Operating earnings, which exclude net realized investment gains and losses, came in at a record $312.9 million, or $1.17 a share, vs. $254.7 million, or 94 cents a share, a year ago, the company reported. Principal was expected to make $1 a share in the period, according to the average estimate of 11 analysts polled by Thomson Financial.
Energy stocks gain after oil breaks $93 a barrel(9:39 am ET)
NEW YORK (MarketWatch) -- Energy stocks moved up Monday along with the overall market after oil futures broke through $93 a barrel for the first time on jitters over a production cut in Mexico on bad weather. The Amex Oil Index (XOI: news, chart, profile) rose 0.5% to 1,513. The Amex Natural Gas Index (XNG: news, chart, profile) advanced 0.2% to 561.4 Petro China (PTR: news, chart, profile) rose $2.69 to $249.16 after it priced its Shanghai initial public offering at the top of its range. Western Refining (WNR: news, chart, profile) rose 3% to $39.41 after it was upgraded to neutral from sell at UBS. Oil States International (OIS: news, chart, profile) fell 1% to $42.36 after it was downgraded to neutral from buy at Oppenheimer. Tesero (TSO: news, chart, profile) fell 1.3% to $63.62, giving back some of its gains in the previous session on an offer from Kirk Kerkorian to buy a chunk of the company.
Grey Wolf net income dips(9:28 am ET)
NEW YORK (MarketWatch) -- Grey Wolf Inc. (GW: news, chart, profile) on Monday said third-quarter net income fell to $35.6 million, or 17 cents a share, from $55.3 million, or 25 cents a share in the year-ago period. Revenue fell to $224 million from $242.7 million. Analysts surveyed by Thomson Financial forecast earnings of 18 cents a share, on average.
Natixis Bleichroeder eyes oil oversupply amid record prices(8:56 am ET)
NEW YORK (MarketWatch) -- Natixis Bleichroeder Inc. on Monday said in a note to clients that oil prices above $90 a barrel may not be justified by supply data. "The oil price move to record territory has been accompanied by some geo-political issues, continued inventory draws and very aggressive buying by non-commercial speculators," Natixis said. "That said, we are less than certain that the fourth-quarter oil market undersupply condition of roughly 1.1 million barrels a day justifies prices above $90 a barrel." In recent trades, oil futures on the Nymex rose 74 cents to $92.60. Earlier, oil futures moved past $93 a barrel for the first time amid a production halt in Mexico on inclement weather.
Loews Corp. third-quarter income falls(8:50 am ET)
NEW YORK (MarketWatch) -- Loews Corp. (LTR: news, chart, profile) said Monday that its third-quarter net income fell to $555.7 million, or 77 cents a share, from a year-earlier profit of $635.1 million, or 94 cents a share. Revenue rose 5.2% to $4.70 billion from $4.47 billion a year ago. Net income attributable to Carolina Group (CG: news, chart, profile) improved to $145.7 million, or $1.34 a share, from $117.9 million, or $1.17 a share, a year earlier. Carolina Group revenue rose to $1.04 billion from $986 million.
Washington Group net up 29%; affirms year outlook(8:38 am ET)
TEL AVIV (MarketWatch) -- Washington Group International Inc., (WNG: news, chart, profile) the Boise, Idaho, engineering and construction firm, reported third-quarter net income jumped on 29% higher revenue. Net reached $36.4 million, or $1.17 a share, from $4.3 million, or 14 cents, in the year-earlier period. Adjusted net was $1.22 a share in the latest period; that's shy of the company's mid-October estimate of $1.25 to $1.38 a share because WNG took a $2.5 million charge for a fixed-price highway project. Revenue rose to $1.06 billion from $824.4 million. A survey of four analysts by Thomson Financial produced a consensus estimate of $1.21 of earnings. Washington Group reiterated its outlook for the year.
Ashland Q4 net income falls sharply (8:31 am ET)
NEW YORK (MarketWatch) -- Ashland Inc. (ASH: news, chart, profile) on Monday said fourth-quarter net income fell sharply to $32 million, or 51 cents a share, from $200 million, or $2.82 a share in the year-ago period, which included $144 million in discontinued operations for its Apac business. Operating income fell slightly to $26 million from $28 million in the year-ago period. Revenue rose to $2.1 billion from $1.9 billion. Analysts surveyed by Thomson Financial forecast earnings of 72 cents a share, on average. The Covington, Ky. chemical products firm said it's "disappointed" by the results. "Weak conditions in the North American building and construction markets and a difficult environment in the transportation markets have challenged Ashland Performance Materials and Ashland Distribution all year and especially in the fourth quarter," the company said.
Hertz 3rd-quarter earnings up 51%, revenue up 9.3%(7:53 am ET)
TEL AVIV (MarketWatch) -- Hertz Global Holdings Inc., (HTZ: news, chart, profile) the Park Ridge, N.J., car-rental company, reported third-quarter net income rose 51% on 9.3% higher revenue. Earnings reached $162.7 million, or 50 cents a share, from $107.5 million, or 46 cents, in the year-earlier period. Adjusted net income was 65 cents vs 48 cents. Shares outstanding rose 41% to 327.5 million. Revenue reached $2.45 billion from $2.24 billion. A survey of analysts by Thomson Financial produced consensus estimates of 57 cents a share of profit on $2.38 billion of revenue.
Schnitzer Steel Industries net income falls 24%(7:48 am ET)
NEW YORK (MarketWatch) -- Schnitzer Steel Industries Inc. (SCHN: news, chart, profile) on Monday said fourth-quarter net income for the three months ended Aug. 31 fell to $38 million, or $1.28 a share from $50 million, or $1.62 a share in the year-ago period. Revenue rose to $749 million from $605 million. Adjusted net income fell to $1.28 a share from $1.58 a share. Analysts surveyed by Thomson Financial forecast earnings of $1.35 a share, on average.
Winn-Dixie posts quarterly loss(7:39 am ET)
NEW YORK (MarketWatch) - Winn-Dixie Stores Inc. (WINN: news, chart, profile) on Monday posted a fiscal first-quarter loss of $790,000, or 1 cent a share. The company, which recently emerged from bankruptcy, said its predecessor company lost $24.6 million, or 17 cents a share, in the year-ago period. Net sales rose to $1.62 billion from $1.61 billion. Identical-store sales from continuing operations rose 0.2%. The grocery-store operator said identical-store sales for fiscal 2008 are expected to be slightly positive. Gross margin in fiscal 2008 is expected to be slightly higher than in fiscal 2007. Winn-Dixie's financial results in fiscal 2008 will be affected by $105 million to $117 million in certain non-cash and cash items. Capital expenditures in fiscal 2008 are expected to be about $250 million, of which approximately $140 million is expected to be spent for store-remodeling. In addition, Winn-Dixie expects it will spend about approximately $110 million on other capital expenditures, including maintenance and other store-related projects, information technology projects, new stores and back-up generators.
Kaydon posts decline in third-quarter earnings(7:22 am ET)
NEW YORK (MarketWatch) -- Kaydon Corp. (KDN: news, chart, profile) said Monday that third-quarter net income fell to $17.1 million, or 54 cents a share, compared to $17.6 million, or 55 cents a share, in the year-earlier period. Third-quarter sales rose to $107.4 million from $99.7 million a year ago. On average, analysts surveyed by Thomson Financial had expected the company to earn 59 cents a share on revenue of $110.9 million. The company also said it acquired Avon Bearings Corp. for $55 million in cash. Shares of Kaydon closed Friday at $55.30.
Symtera Financial eyes $750 mln in IPO proceeds (7:20 am ET)
NEW YORK (MarketWatch) -- Symetra Financial Corp. on Monday filed to sell 39.5 million shares at $18 to $20 a share in a bid to raise about $750 million in its initial public offering. The Bellevue, Wash. insurance firm plans to trade under the symbol SYA. Shareholders in the company include Berkshire Hathaway (BRKA: news, chart, profile) and White Mountins Insurance Group (WTM: news, chart, profile) .
Key Energy Services says pricing pressures to affect results(7:01 am ET)
WASHINGTON (MarketWatch) -- Key Energy Services (KEG: news, chart, profile) said it expects to report earnings of 25 cents to 27 cents a share for the third quarter, as well as revenue of about $414 million. Analysts' average estimates stand at 35 cents a share on a fully reported basis and $415.3 million, respectively, according to data compiled by Thomson Financial. The Houston-based provider of oilfield services cited pricing pressures tied to "capacity-driven factors" within all of the company's business lines.
Alon USA estimates 3rd-quarter net 23c-29c; margins hurt(6:26 am ET)
TEL AVIV (MarketWatch) -- Alon USA Energy Inc., (ALJ: news, chart, profile) the Dallas refiner and retailer of petroleum products, estimated third-quarter earnings at 23 cents to 29 cents a share, as sharply higher crude-oil prices hurt its profit margins in its asphalt segment and in its West Coast refining operations. A survey of analysts by Thomson Financial produced a consensus estimate of 61 cents for the quarter. "A substantial portion of Alon's asphalt sales are made pursuant to forward, fixed-price contracts," the company said. Profit margins in the segment are hurt when crude prices rise before it delivers the asphalt and helped when oil prices fall before delivery.
Hong Kong-listed Cosco Pacific Q3 net up 14% to $94M(6:25 am ET)
HONG KONG (MarketWatch) -- Port operator Cosco Pacific Ltd. (HK:1199: news, chart, profile) said Monday net profit for the September-ending quarter climbed 14% on year, helped by higher container handling volume. Cosco Pacific said quarterly net profit reached $94 million, up from $82.6 million in the year-ago period. Net profit for the first nine months of the year climbed to $242.5 million from $219.04 million. Cosco Pacific said container throughput at its ports climbed 17.1% in the quarter to 10.4 million 20-foot-equivlanet units. Shares of Cosco climbed 2.8% to HK$25.45 in Hong Kong trading Monday.
CTC Media profit more than doubles; audience share slips(6:23 am ET)
LONDON (MarketWatch) -- Russian television station operator CTC Media Inc. (CTC: news, chart, profile) said Monday that its third-quarter net profit more than doubled to $17.4 million, or 11 cents a share, from $8.4 million, or 5 cents a share. Total operating revenue for the period rose 33% to $94.1 million. The group said its results reflect continued strength in the Russian television advertising market, rising advertising rates and the appreciation of the ruble against the dollar. This was partly offset by a decrease in audience share, which fell to 8.7% from 10.1% a year ago and was below the group's expectations. CTC Media said it expects operating revenue for the year to be in the range of $460 million to $480 million.
Adams Respiratory gets approvable letter on Mucinex(6:18 am ET)
LONDON (MarketWatch) -- Adams Respiratory Therapeutics (ARXT: news, chart, profile) said the U.S. Food and Drug Administration has given it an approvable letter on Mucinex with codeine to treat cough associated with the common cold. The FDA made preliminary labeling comments and wants more data on the use of the drug with food. Adams does not expect this development to impact its financial guidance for fiscal 2008. It added that fiscal 2008 earnings should be at the top end, or slightly exceed, earlier estimates of $1.55 to $1.75 a share due to a FDA ruling that manufacturers of unapprovaled timed-release guaifensin combination products must stop retail distribution. It still sees fiscal 2009 earnings per share growing more than 30%.
Office Depot delays third-quarter results(6:07 am ET)
LONDON (MarketWatch) -- Office Depot Inc. (ODP: news, chart, profile) said Monday that it will delay its third-quarter earnings due to an independent review by its audit committee of the company's vendor program funds. The office supplies company said the review relates to the timing of the recognition of certain vendor program funds. The third-quarter results had been scheduled to be released on Tuesday.
UBS confirms third-quarter loss, warns more charges possible(3:55 am ET)
LONDON (MarketWatch) -- Swiss banking group UBS (UBS: news, chart, profile) on Monday reaffirmed it expects a third-quarter loss of 600 million Swiss francs ($515 million) to 800 million francs, but warned it could take further charges in the fourth quarter from its exposure to U.S. housing and mortgage markets. The group, which will report third-quarter earnings on Tuesday, said the fourth quarter has started with good results from all units, but further deterioration in U.S. housing markets or rating downgrades for mortgage-related securities could lead to further write-downs. "UBS is not assuming that the quarter will continue as positively as it has begun, or that the current difficulties will be resolved in the short term," the group said.
StatoilHydro profit climbs 28% on currency benefit(3:36 am ET)
LODNON (MarketWatch) -- StatoilHydro (STO: news, chart, profile) said third-quarter net income rose 28% to 10.6 billion Norwegian kroner ($1.97 billion), helped by foreign currency gains. The results -- which exclude Norsk Hydro's oil and gas operations that were merged into the firm on Oct. 1 -- came amid a 2% drop in productiondue to 1.06 million barrels of oil equivalent a day, on reduced production from the Norwegian continental shelf. The company also said that natural gas prices dropped 15% in local currencies. StatoilHydro said it will issue proforma consolidated results fo rthe third quarter on Nov. 12.
Kier group on track to meet targets for the year(3:24 am ET)
LONDON (MarketWatch) -- U.K. construction company Kier Group (UK:KIE: news, chart, profile) said Monday that its fiscal first-quarter trading was in line with its expectations, putting the company on track to achieve its targets for the year. Kier said its construction division achieved a record level of revenue in the first quarter and its support services unit continued to perform well. Its homes division made a "satisfactory" start to the year in the face of negative buyer sentiment and uncertainties in the mortgage lending market. Reservations to the end of September fell slightly, while its order book at Oct. 19 was around 4% ahead of a year ago by value.
Friday, Oct. 26
Tesoro Corp. reviewing Tracinda offer, touts low valuation (2:44 pm ET)
NEW YORK (MarketWatch) -- Tesoro Corp. (TSO: news, chart, profile) on Friday said it'll review an offer by Tracinda Corp. to increase its stake in the company to 16% at a price of $64 a share, and make a recommendation to shareholders within 10 days after it's filed. "We believe the offer by Tracinda acknowledges our successful strategy to create shareholder value as well as the relatively lower valuation of our stock compared to others in our industry," Tesoro said.
Countrywide says secondary mortgage market stabilizing(1:36 pm ET)
BOSTON (MarketWatch) -- Executives at mortgage lender Countrywide Financial Corp. (CFC: news, chart, profile) on Friday said they see signs the secondary mortgage markets are stabilizing. "The current market for non-agency securities is improving, at least as it relates to securities backed by newer production, where the market has really bifurcated between older and newly issued securities," said Chief Operating Officer David Sambol during a conference call. However, securities packaged before the rating agencies changed their rating methodology in the third quarter are still "trading at very wide levels, if at all," he added. "But liquidity has returned and spreads have been tightening at least for [AAA-rated] securities backed by newly originated loans, and that includes both subprime as well as prime," while below-AAA-rated liquidity exists but mostly on newly-originated, better-documented prime mortgages, he said. "As a result of this market improvement we are now anticipating that we will securitize most of our non-agency inventory that we held at the end of the third quarter and begin selling, at least the AAA securities, as early as the coming months, ahead of where we previously suggested our plan was, which was the first quarter of 2008," Sambol said.
Countrywide COO says lender has 'ample' liquidity(12:53 pm ET)
BOSTON (MarketWatch) -- Countrywide Financial Corp. (CFC: news, chart, profile) has sufficient capital, liquidity and financing capacity to fund its operating and growth needs, the mortgage lender's chief operating officer said Friday. "The company has ample and growing liquidity," said Countrywide COO David Sambol during a conference call. "Importantly, we no longer have or plan to have any reliance on the commercial paper markets for funding." Since August, the company has arranged for about $18 billion of additional secured borrowing capacity, he added.
Energy rises on Tracinda bid, oil prices(9:50 am ET)
NEW YORK (MarketWatch) -- Energy stocks rose along with the overall market Friday as oil continued moving to new record levels. The Amex Oil Index (XOI: news, chart, profile) rose 1.8% 1,501. The Amex Natural Gas Index (XNG: news, chart, profile) increased 1% to 555.8. Tesoro (TSO: news, chart, profile) rallied 13% to $64.77 after Tracinda Corp. offered to buy 12% of the company, or 21.9 million shares, at $64 a share. Suncor (SU: news, chart, profile) rose 10 cents to $106.24 and EnCana (ECA: news, chart, profile) rose 43 cents to $67.02 after Canada moved to increase taxes on oil sands revenue. Exxon Mobil (XOM: news, chart, profile) increased 1% to $92.58.
Brunswick Q3 earnings 2 cents per share vs 39 cents(9:25 am ET)
NEW YORK (MarketWatch) -- Brunswick Corp. (BC: news, chart, profile) said Friday its third-quarter profit totaled $1.9 million, or 2 cents per share, from $36.5 million, or 39 cents per share, in the same quarter a year before. Excluding items, earnings from continuing operations were 16 cents a share, down from the year-ago's 48 cents. Analysts polled Thomson Financial had expected earnings of 12 cents per share. The Lake Forest, Ill., company reported net sales for the quarter at $1.33 billion compared with $1.34 billion a year previously. The company -- which makes boating motors and products, pool and bowling equipment and fitness machines -- reaffirmed its 2007 forecast at $1.20 to $1.30 per share.

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Qwest's earnings soar on tax gain
Yet stock falls on concerns about growth, spending
Qwest Communications International Inc. on Tuesday posted a massive $2 billion profit in the third quarter because of a onetime tax gain, but a decline in sales stoked concerns about future growth.
Some Wall Street analysts also questioned a new plan to spend $300 million next year on fiber upgrades. They were also disappointed that Qwest failed to announce a stock buyback or other measures to reward shareholders.
In recent trades, Qwest (Q 7.27, -0.91, -11.1%) shares fell as much as 11% to under $7.50 a share.

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Goodyear Tire & Rubber Co (GT.N: Quote, Profile, Research), the largest U.S. tire maker, posted a quarterly profit on Tuesday, supported by a gain on the sale of its engineered products business and a focus on sales of more expensive branded tires.

Goodyear, whose shares soared more than 7 percent in morning New York Stock Exchange trading, said operating income rose in all five of its tire-making regions and the company remains on track to reach its targets of a four-year restructuring plan.

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ADP Profit Rises, Beating Estimates
Automatic Data Processing Inc. (ADP) opened at 48.62. So far today, the stock has hit a low of 47.92 and a high of 49.65. ADP is now trading at 49.56, up 2.38 (5.04%). The stock hit its 52 week high of 51.50 in February and set its 52 week low of 43.89 in April. ADP has been very steady for the past year. Automatic Data Processing reported this morning its first-quarter profit rose to $297.4 million, helped by increased employer and dealer services revenue. The company posted earnings of 45 cents per share on revenue of $1.99 billion, while analysts expected earnings of 43 cents per share on $1.97 billion in revenue. Technical indicators for the stock are neutral but deteriorating while S&P gives ADP a very positive 5 STARS (out of 5) strong buy rating. If you’re looking for a hedged trade on this stock, consider a December bull put credit spread below the $45 level. ADP stock could fall up to 9.2% before expiration and this position would still profitable
http://www.marketintelligencecenter.com/articles/463064

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U.S. Steel misses by $0.13, U.S. Steel profit falls 35 percent
U.S. Steel Corp (X.N) said on Tuesday third-quarter profit fell 35 percent because of weaker tubular steel prices and declines in European shipments, and said its fourth-quarter earnings would be even lower.

Net earnings were $269 million, or $2.27 per share, compared with $417 million, or $3.42 per share, a year earlier, the Pittsburgh-based steelmaker said.

Excluding one-time items, earnings were $2.50 per share, falling short of the average analysts' forecast of $2.63 per share.

In July, after second-quarter results fell 25 percent on lower shipments and tubular steel prices, Chairman and Chief Executive John Surma said he expected operating results to improve in the third quarter.

Income from operations fell to $360 million in the quarter from $561 million a year earlier.

Net sales rose to $4.35 billion from $4.11 billion.

The decrease in European operating results to $152 million from $219 million last year was primarily due to lower shipments from outages, higher raw material and unit costs.

Tubular steel profits fell to $74 million from $164 million due mainly to lower prices and the cost of integrating operations from the Lone Star acquisition.

The company expects overall earnings to decline in the fourth quarter because of normal seasonal effects and several scheduled blast furnace outages.

Fourth-quarter results for tubular are expected to be consistent with the third-quarter levels.
http://www.kplctv.com/Global/story.asp?S=7284477&nav=0nqx

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Tuesday, Oct. 30
McKesson profits climb 8%, beat analyst views(4:56 pm ET)
LOS ANGELES (MarketWatch) -- McKesson Corp. (MCK: news, chart, profile) reported net income of $247 million, or 83 cents a share, for the second quarter ended Sept. 30, up 8% compared with $229 million, or 75 cents a share, for the same period a year ago. Revenue for the San Francisco-based drug distributor was $24.5 billion vs. last year's $22.4 billion. The company said earnings from continuing operations amounted to 82 cents a share, compared with 66 cents a year ago. Analysts polled by Thomson Financial had expected earnings of 72 cents a share on sales of $24.1 billion. Shares ended trading up 56 cents, or 1%, to $58.55.
Dell restatements to cut $92 mln from four years of earnings(4:36 pm ET)
SAN FRANCISCO (MarketWatch) -- Dell Inc. (DELL: news, chart, profile) said Tuesday that its previously announced financial restatements would cut its earnings by $92 million, and its earnings-per-share by 3 cents for the combined period of its 2003, 2004, 2005 and 2006 fiscal years, and the first quarter of its 2007 fiscal year. Bob Pearson, a Dell spokesman, said the company had originally earned about $12 billion, or $4.78 a share, during the restatement periods. Pearson said Dell intends to restart its share buyback program shortly after it reports its third-quarter results on Nov. 29. Dell shares rose 33 cents to close Tuesday at $29.80.
Lincoln Financial quarterly net falls 9%(4:36 pm ET)
SAN FRANCISCO (MarketWatch) -- Lincoln Financial Group (LNC: news, chart, profile) said late Tuesday that third-quarter net income came in at $329.6 million, or $1.21 a share, down 9% from a year earlier when the annuity and life insurance company made $364.1 million, or $1.29 a share. Income from operations for the third quarter was $352.9 million, or $1.29 a share. Lincoln was expected to make $1.37 a share, according to 17 analysts in a Thomson Financial poll. Analysts usually exlude one-time items from their estimates. Consolidated domestic deposits, which include products such as individual annuities, mutual funds, life insurance and institutional investment offerings, stood at $10.9 billion at the end of the quarter, up 28% from a year ago, Lincoln reported.
Macau opening boosts Wynn profit, revenue(4:34 pm ET)
CHICAGO (MarketWatch) -- A full quarter of operations at its Macau property boosted Wynn Resorts' third-quarter bottom line with the casino operator turning to a hefty adjusted profit. After the close of trading Tuesday, Wynn said it earned $44.7 million, or 41 cents a share. While that is down sharply from the $715.7 million, or $6.43 a share it earned in the third quarter of 2006, the prior year numbers included a $779 million benefit from the sale of a subconcession in Macau. Knocking out that, along with various other charges and gains, the company would have earned $73.4 million, or 67 cents a share - vs. a loss of $1.3 million, or a penny a share. Revenue at the gambling company came in at $653.4 million, up from $318.1 million largely on the back of the September 2006 opening in Macau. The average estimate of analysts polled by Thomson Financial had been for Wynn (WYNN: news, chart, profile) to earn 63 cents a share on $637 million in revenue.
'Shrek the Third' drives DreamWorks profit higher(4:30 pm ET)
CHICAGO (MarketWatch) -- DreamWorks Animation Studios (DWA: news, chart, profile) said Tuesday that its third-quarter profit grew more than four-fold on proceeds from the hit sequel "Shrek the Third." The company said net income was $47 million, or 47 cents a share, compared with a profit of $10.5 million, or 10 cents a share, in the prior year. Revenue rose to $160.8 million from $55.6 million. Analysts polled by Thomson Financial were expecting a profit of 44 cents a share on revenue of $165.6 million. DreamWorks Animation reiterated its projection that fourth-quarter revenue will be primarily driven by the home video performance of "Shrek the Third," which will be released on DVD in the U.S. November 13.
Profit, sales climb at Chipotle(4:27 pm ET)
SAN FRANCISCO (MarketWatch) -- Chipotle Mexican Grills Inc. (CMG: news, chart, profile) late Tuesday reported its third-quarter profit rose more than 74%, helped by increased visits at its restaurants open at least one year. Chipotle said it earned $20.6 million, or 62 cents a share, up from $11.8 million, or 36 cents a share, in last year's same quarter. Revenue for the three months ended Sept. 30 increased 35.6% to $286.4 million. Chipotle said comparable restaurant sales rose 12.4% amid increased customer visits. The fast-food operator said it now expects comparable restaurant sales to increase in the "low double-digit range" on an annual basis this year. For 2008, Chipotle forecast comparable restaurant sales to rise in the "low to mid single-digit" range.
RealNetworks sees revenue jump in third quarter(4:16 pm ET)
SAN FRANCISCO (MarketWatch) -- RealNetworks Inc. saw third-quarter earnings fall sharply from last year, when the bottom line was skewed by a large settlement payment from Microsoft. The digital music and video game company (RNWK: news, chart, profile) reported earnings of $4.3 million, or 3 cents a share, for the third quarter compared to earnings of $42.2 million, or 26 cents a share, for the same period last year. Excluding the effects of the Microsoft settlement and charges related to stock options, the company said adjusted net income grew to $9.2 million from $9 million last year. Revenue jumped 55% to $145.1 million. Analysts were expecting a loss of 1 cent a share on revenue of $143.4 million, according to estimates from Thomson Financial.
B/E Aerospace profit rises, hikes full-year forecast(10:36 am ET)
NEW YORK (MarketWatch) -- B/E Aerospace Inc. (BEAV: news, chart, profile) , the Wellington, Fla., maker of products for aircraft cabin interiors, reported third-quarter earnings rose to $44.5 million, or 48 cents a share, from $31.4 million, or 40 cents, in the year-earlier period. Revenue increased to $428.2 million from $287.9 million. A survey of analysts by Thomson Financial produced consensus estimates of 41 cents a share in profit on $400 million of revenue. Backlog at Sept. 30 was $2.0 billion. B/E Aerospace also added 12 cents to its earnings-per-share estimate for the year, bringing it to $1.69, excluding debt prepayment costs.
Vornado's funds from operations rise in third quarter(10:15 am ET)
NEW YORK (MarketWatch) -- Vornado Realty Trust (VNO: news, chart, profile) said Tuesday that third-quarter funds from operations rose to $1.35 a share from $1.31 a share in the year-ago period. Analysts surveyed by Thomson Financial expected the real estate investment trust to post funds from operations of $1.35 a share, on average. Net income came in at $116.5 million, or 74 cents a share.
Bemis third-quarter income falls(10:06 am ET)
NEW YORK (MarketWatch) -- Bemis Co. (BMS: news, chart, profile) on Tuesday reported third-quarter net income of $41 million, or 40 cents a share, compared with $47.9 million, or 45 cents a share, in the third quarter of 2006. The Neenah, Wis., maker of flexible packaging reported sales for the period ended Sept. 30 of $905.7 million, up from $903.3 million a year earlier. The company's shares closed Monday at $28.
Energy stocks fall back along with oil prices(9:55 am ET)
NEW YORK (MarketWatch) -- Energy stocks retreated along with the overall market as oil prices fell Tuesday. The Amex Oil Index (OIX: news, chart, profile) dropped 1.3% to 837. The Amex Natural Gas Index (XNG: news, chart, profile) dipped 0.4% to 561. Oil fell $1.39 to $92.14 a barrel. EOG Resources (EOG: news, chart, profile) rose 1.9% to $84.10 after it was upgraded to outperform from market perform at Raymond James. Hercules Offshore (HERO: news, chart, profile) rose 2.3% to $26.36 after it said third-quarter net income rose 63%. BJ Services (BJS: news, chart, profile) fell 1.6% to $24.93 after it said third-quarter earnings fell on price pressure in the Gulf of Mexico.
CORRECT: UBS upgrades Western Refining to neutral (9:28 am ET)
NEW YORK (MarketWatch) -- UBS on Monday upgraded Western Refining (WNR: news, chart, profile) to neutral from sell on valuation. The company has fallen 40% since July and 46% since its highs earlier in the year, UBS said in a note to clients. "Gvien the pullback in benchmark crack spreads on the back of a sharp rise in crude prices, we do not expect any fundamental catalyst in the short term," UBS said in a note to clients. "Also, WNR has relatively high earnings sensitivity to refining margins coupled with its high regulatory capex requirements, we expect WNR to remain vulnerable from a cash flow standpoint." (Corrects day of upgrade.)
M/I Homes swings to third-quarter loss (9:14 am ET)
NEW YORK (MarketWatch) -- M/I Homes Inc. (MHO: news, chart, profile) swung to a third-quarter loss of $21.7 million, or $1.73 a share, from year-earlier net income of $15.2 million, or $1.08 a share. The latest quarter's results include pretax charges of $1.49 a share for land-related impairment, joint venture investment write-offs and severance costs. The Columbus, Ohio, home builder said revenue declined 20% to $243.7 million from $306.2 million. M/I Homes said it delivered 787 homes in the quarter, down 15% from 927 a year ago. It expects to deliver 3,000 homes this year and further reduce its debt. The company said its backlog of homes at Sept. 30 stood at 1,468 units with a value of $481 million, down from 2,533 units and $923 million, respectively, a year ago.
First Energy posts decline in third-quarter earnings(9:06 am ET)
TEL AVIV (MarketWatch) -- First Energy Corp. (FE: news, chart, profile) , the Akron, Ohio, electric-power provider, reported Tuesday that third-quarter earnings fell 9% while revenue rose 8.2%. Net income fell to $413 million, or $1.34 a share, from $454 million, or $1.40 a share, in the year-earlier period. Shares outstanding fell 5.5% to 307 million. Revenue reached $3.64 billion from $3.36 billion. A survey of analysts by Thomson First Call produced a consensus estimate for profit of $1.28 a share for the quarter.
Martin Marietta Materials' quarterly net up(8:31 am ET)
BOSTON (MarketWatch) -- Martin Marietta Materials Inc. (MLM: news, chart, profile) before Tuesday's opening bell said third-quarter net income rose to $90.3 million, or $2.12 a share, from $76.2 million, or $1.65 a share the previous year. Total revenue climbed to $620.2 million from $601.7 million a year earlier. The company forecast fourth-quarter earnings in the range of $1.37 to $1.72 a share, and sees profit of $6.10 to $6.45 a share for the full year. Analysts are forecasting full-year earnings of $6.41 a share, according to a poll conducted by Thomson Financial.
Tenneco's third-quarter earnings triple(8:27 am ET)
TEL AVIV (MarketWatch) -- Tenneco (TEN: news, chart, profile) , the Lake Forest, Ill., auto-parts producer, reported third-quarter earnings tripled on 39% higher revenue. Net income reached $21 million, or 45 cents a share, from $7 million, or 16 cents, in the year-earlier period. Shares outstanding rose 1.5% to 47.9 million. Adjusted net was 39 cents a share versus 26 cents. Revenue rose to $1.56 billion from $1.12 billion. A survey of analysts by Thomson Financial produced consensus estimates of 40 cents of profit on $1.44 billion of revenue. Gross-profit margin in the quarter was 15.6% compared with 17.5%.
Safeco net income falls 24%(8:20 am ET)
NEW YORK (MarketWatch) -- Safeco (SAF: news, chart, profile) on Tuesday said third-quarter net income fell 24% to $194.4 million, or $1.93 a share, from $255.7 million, or $2.20 a share in the year-ago period. Operating earnings rose to $1.51 a share from $1.47 a share. Analysts surveyed by Thomson Financial forecast earnings of $1.55 a share. Net written premiums were $1.45 billion for the third quarter, a 1.5% increase. Auto net written premiums declined 3.1%. The company said it's taking steps to improve its auto insurance operations.
Pennsylvania REIT's results boosted by preferred redemption(8:11 am ET)
BOSTON (MarketWatch) -- Pennsylvania Real Estate Investment Trust (PEI: news, chart, profile) Tuesday said third-quarter net income available to common shareholders was $13.7 million, or 35 cents a share, including $13.3 million related to its earlier redemption of preferred shares. The company said funds from operations rose to $1.16 a share from 80 cents in the year-ago period. Wall Street analysts polled by Thomson Financial had been looking for FFO of $1.10 a share, on average. The stock closed Monday off 3.4% at $36.37.
Hercules Offshore net income up 63% despite Gulf weakness(7:59 am ET)
NEW YORK (MarketWatch) -- Hercules Offshore (HERO: news, chart, profile) on Tuesday said third-quarter earnings rose 63% to $48.4 million, or 58 cents a share, from $29.7 million, or 91 cents a share in the year-ago period. The oil services firm said revenue tripled to $294.4 million from $97.2 million in the year-ago period after closing on its acquisition of Todco. Excluding items, net income in the latest period totaled 61 cents a share. Analysts surveyed by Thomson First Call forecast earnings of 54 cents a share and revenue of $302 million, on average. "Our third quarter financial results clearly reflect a difficult market environment for shallow water drilling in the U.S. Gulf of Mexico," the company said. Two-thirds of its operating income was generated by business segments other than its domestic offshore. "While it is difficult to predict a recovery in our domestic offshore drilling business, there are some early signs of a moderate increase in demand as we enter the fourth quarter," Hercules Offshore said.
On Semiconductor third-quarter income declines(8:00 am ET)
NEW YORK (MarketWatch) -- On Semiconductor Corp. (ONNN: news, chart, profile) said Tuesday that its third-quarter net income fell to $63.8 million, or 20 cents a share, from $76.8 million, or 23 cents a share, in the year-earlier period. Revenue declined to $402.9 million from $420.9 million. Analysts expected earnings of 22 cents a share on revenue of $398.8 million, according to Thomson Financial. On Semi estimated that fourth-quarter revenue will come in about flat to up 2% sequentially. Phoenix.-based On Semi makes audio and power management chips used in mobile phones, cars, and portable electronics.
MF Global swings to loss (7:50 am ET)
NEW YORK (MarketWatch) -- MF Global, (MF: news, chart, profile) Tuesday reported a second quarter loss of $90.6 million, or 78 cents a share, compared to a profit of $25.4 million, or 25 cents a share a year ago. The firm said its second quarter non-GAAP earnings per share were 42 cents. The firm said it recorded a litigation accrual of $69 million in the quarter, adding that the litigation costs are covered by insurance and will have no material effect on long-term results. MF said it expects to settle the litigation, brought by the Receiver Ad Litem for Philadelphia Alternative Asset Fund ("PAAF") and related entities, in coming weeks.
FPL Group net income up 1%(7:48 am ET)
NEW YORK (MarketWatch) -- FPL Group Inc. (FPL: news, chart, profile) said Tuesday third-quarter net income rose 1% to $533 million, or $1.33 a share, from $527 million, or $1.32 a share in the year-ago period. Adjusted net income increased to $1.23 a share from $1.15 a share. Revenue fell to $4.58 billion from $4.69 billion. Analysts surveyed by Thomson Financial forecast earnings of $1.23 a share and revenue of $4.73 billion, on average. The Juno Beach, Fla. utility said it expects adjusted 2008 earnings of $3.83 to $3.93 a share, ahead of the Wall Street estimate of $3.81 a share. FPL Group expects average annual adjusted earnings growth of at least 10% through 2012.
Avon posts jump in third-quarter earnings(7:43 am ET)
NEW YORK (MarketWatch) -- Avon Products Inc.'s (AVP: news, chart, profile) third-quarter net income jumped 61% to $139.1 million, or 32 cents a share, from $86.4 million, or 19 cents a share, a year earlier. The latest quarter included $96 million in advertising expenses, up 44% from a year ago, and $37 million in restructuring costs. Revenue rose 14% to $2.35 billion from $2.06 billion a year ago, as beauty products sales rose 16%. On average, analysts polled by Thomson Financial expected the New York-based direct seller of cosmetics to earn 31 cents a share on revenue of $2.27 billion. For fiscal 2007, the company said it remains on track for $375 million in advertising spending and an incremental $100 million in restructuring costs. The company also said it expects its 2008 operating margin to approach 2005's level.
Sepracor profit slips; to cut jobs(7:35 am ET)
NEW YORK (MarketWatch) - Pharmaceutical company Sepracor Inc. (SEPR: news, chart, profile) posted a lower third-quarter profit on Tuesday and said it will cut sales jobs as well as sales and marketing expenses. Net income in the third quarter fell to $42.9 million, or 37 cents a share, from $64.4 million, or 56 cents a share, in the year-ago period. Total revenue fell to $283.9 million from $289.3 million. Analysts, on average, expected it to earn 26 cents a share on revenue of $289 million, according to Thomson Financial. The Marlborough, Mass.-based company said it will cut the number of sales force positions by about 300. This, together with other anticipated cost reduction initiatives across the business, has resulted in a projected reduction in sales and marketing expenses of approximately $90 million to $100 million for 2008. Sepracor said its overall forecast for 2007 remains unchanged from the last quarter with anticipated total revenues for 2007 of between $1.23 billion to $1.3 billion. Sepracor has narrowed its earnings target range to $1.05 to $1.15 a share for 2007 from the previous forecast of $1.00 to 1.30. This range not only includes the after-tax charge relating to the settlement of the tecastemizole litigation of 28 cents a share, but also includes expected restructuring charges during the fourth quarter that the company will incur related principally to the sales force reorganization, the company said. For 2008, Sepracor expects to earn $2.35 to $2.45 a share. Analysts polled by Thomson Financial expect it to earn $1.40 a share on revenue of $1.25 billion for 2007, and $1.83 a share for 2008, on average.
Industrial Distribution 3rd-quarter net off 28%(7:20 am ET)
AVIV (MarketWatch) -- Industrial Distribution Group Inc., (IDGR: news, chart, profile) the Atlanta distributor of equipment for maintenance, repair, operations and production, reported third-quarter earnings fell 28% on 3.4% lower revenue. Earnings fell to $1.3 million, or 14 cents a share, from $1.8 million, or 19 cents, in the year-earlier period. Revenue fell to $134.3 million from $139 million. Gross profit was 23.4% of revenue against 22.6% a year earlier.
Qwest net income jumps, sees capex flat with year ago(7:18 am ET)
NEW YORK (MarketWatch) - Qwest Communications International Inc. (Q: news, chart, profile) on Tuesday said third-quarter net income rose to $2.07 billion, or $1.08 a share, from $194 million, or 9 cents a share, in the year-ago period. The results include the recognition of a $2.15 billion tax benefit and $353 million in charges for litigation. Operating revenue fell to $3.43 billion from $3.49 billion. Analysts, on average, expected it to earn 15 cents a share on revenue of $3.49 billion, according to Thomson Financial. The Denver-based company said it sees 2007 capital expenditures about flat with 2006 levels. Qwest said it's still comfortable with its previously stated goals for adjusted free cash flow and capital expenditures for the year. The company said it has refined its expectations for adjusted EBITDA which is expected be in the range of a $250 million improvement above last year's level.
TRW net income rises fivefold(7:18 am ET)
NEW YORK (MarketWatch) -- TRW Automotive Holdings Corp. (TRW: news, chart, profile) on Tuesday said third-quarter net income rose nearly five times to $23 million, or 22 cents a share, from $5 million, or 5 cents a share in the year-ago period. Revenue increased to $3.5 billion from $3 billion. Analysts surveyed by Thomson Financial forecast earnings of 26 cents a share and revenue of $3.3 billion, on average. The automotive parts maker forecast adjusted 2007 earnings of $2.10 to $2.30 a share, compared to the Wall Street target of $2.34 a share.
Sirius Satellite loss lessens (7:16 am ET)
NEW YORK (MarketWatch) -- Sirius Satellite Radio (SIRI: news, chart, profile) said Tuesday that its net loss for the third quarter shrank to $120.1 million, or 8 cents a share versus a loss of $162.9 million, or 12 cents a share a year ago. Its third quarter revenue was $241.8 million versus $167.1 million last year. The company said it sees full year 2007 revenue near $1 billion, and it expects to have 8 million subscribers by year-end.
BJ Services Company net income falls(7:11 am ET)
NEW YORK (MarketWatch) -- BJ Services Company (BJS: news, chart, profile) on Tuesday said fourth-quarter net income fell to $189.4 million, or 64 cents a share, from $228.6 million, or 76 cents a share in the year-ago period. Revenue rose 11% to $1.28 billion. Analysts surveyed by Thomson Financial forecast earnings of 60 cents a share and revenue of $1.2 billion, on average. The oil services company said it expects first-quarter earnings of 58-60 cents a share, compared to the Wall Street estimate of 63 cents a share. For 2008, BJ Services forecast earnings of $2.35 to $2.45 a share verses the Street estimate of $2.50 a share.
Navios Maritime 3rd-quarter net doubles, revenue jumps(7:07 am ET)
TEL AVIV (MarketWatch) -- Navios Maritime Holdings Inc., (NM: news, chart, profile) the Piraeus, Greece, specialist in dry-bulk shipping, reported third-quarter earnings doubled and revenue quadrupled, driven by more contracts serviced, higher rates, and more operating days. Profit reached $36.5 million, or 34 cents a share, from $16.9 million, or 27 cents, in the year-earlier period. Shares outstanding rose 74% to 108.3 million. Revenue rose to $212.9 million from $50.9 million. A survey of analysts by Thomson Financial produced a consensus estimate of 27 cents of profit for the quarter.

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DWA - DreamWorks Animation SKG Inc., the studio run by Jeffrey Katzenberg, said third-quarter profit rose more than fourfold on sales of ``Shrek the Third,' this year's second-highest grossing U.S. film.

Profit jumped to $47 million, or 47 cents a share, from $10.5 million, or 10 cents, a year earlier, Glendale, California-based DreamWorks Animation said today in a statement. Sales almost doubled to $160.8 million.

``Shrek the Third' has earned $321 million in U.S. ticket sales, second only to Sony Corp.'s ``Spider-Man 3,' according to Box Office Mojo LLC. DreamWorks Animation's ``Bee Movie,' in theaters Nov. 2, will generate $175 million in U.S. ticket sales, said Evan Wilson, an analyst with Pacific Crest Securities in Portland, Oregon.

``More than anything, investors are focused on the launch of the `Shrek the Third' DVD, and the launch of `Bee Movie' this weekend,' Wilson said in an interview. He rates the shares ``outperform' and doesn't own any. Their success ``will dictate the near-term direction of the stock,' he said.

DreamWorks Animation, which competes with Walt Disney Co.'s Pixar unit, rose 42 cents, or 1.3 percent, to $32.53 at 4:02 p.m. in New York Stock Exchange composite trading. The stock has gained 10 percent this year after rising 20 percent in 2006.

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Wednesday, Oct. 31
Sunoco profit falls on tighter refining margins(5:06 pm ET)
SAN FRANCISCO (MarketWatch) -- Oil refiner Sunoco Inc. (SUN: news, chart, profile) reported late Wednesday third-quarter net income fell to $216 million, or $1.81 a share, from $351 million, or $2.76, a year ago. Revenue for the three months ended Sept. 30 rose 10% to $11.5 billion from $10.5 billion. Analysts surveyed by Thomson Financial predicted the Philadelphia-based company would post earnings of $2.14 a share on $9.5 billion in revenue. Sunoco shares rose 3.1% to close at $73.82 ahead of the report.
MetLife quarterly net slips slightly to $985 million(5:06 pm ET)
SAN FRANCISCO (MarketWatch) -- MetLife Inc. (MET: news, chart, profile) said late Wednesday that third-quarter net income came in at $985 million, slightly lower than a year earlier when the life insurance and annuity company made $999 million. Net income available to common shareholders was $1.29 a share, in line with the same period last year, MetLife reported. Operating earnings available to common shareholders, which exclude net realized investment gains and losses and other items, came in at $1.16 billion, or $1.52 a share, the company reported. MetLife was expected to make $1.39 a share, according to the average estimate of 16 analysts in a Thomson Financial survey.
Prudential Financial quarterly net falls 25%(4:49 pm ET)
SAN FRANCISCO (MarketWatch) -- Prudential Financial (PRU: news, chart, profile) said late Wednesday that third-quarter net income came in at $860 million, down 25% from a year earlier when the life insurance and retirement savings giant made $1.152 billion. Net income available to common shareholders was $1.88 a share, vs. $2.38 a year ago. After-tax adjusted operating income, which excludes net realized investment gains and losses and other items, was $905 million, or $1.97 per common share, Prudential reported. The insurer was expected to make $1.73 a share, according to the average estimate of 16 analysts in a Thomson Financial survey. Prudential said full-year 2007 adjusted operating income will likely be in a range of $7.45 to $7.60 a share. That's up from a previous forecast of $7.20 to $7.40 a share. Prudential shares rose 1.4% to $96.72 on Wednesday, before the results were released.
Allied Waste profit drops on divestitures(4:44 pm ET)
SAN FRANCISCO (MarketWatch) -- Allied Waste (AW: news, chart, profile) on Wednesday posted a third-quarter profit of $17.8 million, or 5 cents a share, down from $62.9 million, or 17 cents a share, a year ago. Earnings from continuing operations, excluding refinancing costs, came in at 24 cents a share. Sales at the nation's second-biggest garbage hauler rose 2% to $1.56 billion thanks to higher prices. Analysts polled by Thomson Financial had expected a profit of 22 cents a share on sales of $1.6 billion.
Aon quarterly net surges 92%; organic revenue grows 6%(4:32 pm ET)
SAN FRANCISCO (MarketWatch) -- Aon Corp. (AOC: news, chart, profile) said late Wednesday that third-quarter net income came in at $204 million, or 64 cents a share, up 92% from a year earlier when the insurance broker made $106 million, or 32 cents a share. Net income from continuing operations, excluding certain items, jumped 67% to 70 cents a share. Aon was expected to make 59 cents a share, according to the average estimate of 16 analysts in a Thomson Financial survey. Organic revenue growth, which excludes recent acquisitions and divestitures and currency fluctuations, came in at 6%. Organic revenue growth generated by Aon's main Risk and Insurance Brokerage Services unit was 3%.
Navteq earnings jump 47% in third quarter(4:21 pm ET)
SAN FRANCISCO (MarketWatch) -- Navteq Corp. saw its earnings jump 47% in the third quarter thanks to a strong rise in sales. For the quarter ended Sept. 30, Navteq (NVT: news, chart, profile) reported earnings of $39.9 million, or 40 cents a share, compared to earnings of $27.1 million, or 28 cents a share, for the same period last year. Revenue rose 51% to $214.8 million. Analysts were expecting earnings of 30 cents a share on revenue of $193.6 million, according to Thomson Financial.
Energy stocks hold onto gains after Fed rate cut(2:19 pm ET)
NEW YORK (MarketWatch) -- Energy stocks held onto gains and edged up slightly after the U.S. Federal Open Market Committee moved to cut interest rates by a quarter point. The Philadelphia Oil Services Index ($OSX: news, chart, profile) rose 2% to 291. The Amex Oil Index (XOI: news, chart, profile) rose 1.1%. The Amex Natural Gas Index (XNG: news, chart, profile) rose 1.2%. Exxon Mobil (XOM: news, chart, profile) fell 30 cents to $90.84.
China's CNinsure rallies 66% in IPO(11:14 am ET)
NEW YORK (MarketWatch) -- CNinsure (CISG: news, chart, profile) traded at $26.50 for a gain of $16 a share for a gain of 66% in its initial public offering on Wednesday. The China-based insurance broker raised $114 million by offering 11.76 million American depositary shares with underwriter Morgan Stanley (MS: news, chart, profile) .
FCC bans exclusive cable-TV deals in condos, apartments (10:45 am ET)
WASHINGTON (MarketWatch) - Federal regulators on Wednesday voted to bar cable companies from signing exclusive contracts with the owners of apartment buildings and condo complexes, a move that would allow cable competitors to serve those customers. The Federal Communications Commission voted 5-0 Wednesday to end the practice. The decision is seen as a loss for Comcast Corp. (CMCSK: news, chart, profile) and a victory for Verizon Communications Inc. (VZ: news, chart, profile) and AT&T Inc. (T: news, chart, profile) , which are both rolling out their own pay-television services. As many as 30% of all Americans live in condos and apartments, the FCC estimates.
Canetic Resources Trust rises on $3.8 bln Penn West buyout(10:22 am ET)
NEW YORK (MarketWatch) -- Canetic Resources Trust (CNE: news, chart, profile) , (CA:CNE.UN: news, chart, profile) rose 3.3% to $16.03 on the New York Stock Exchange Wednesday after it agreed to be bought for about $3.8 billion in stock by Penn West Energy Trust (PWE: news, chart, profile) , (CA:PWT.UN: news, chart, profile) . "The combination will form the largest conventional oil and gas trust in North America and create a world-class Canadian platform to compete against global energy companies and deliver superior unitholder returns," the companies said. Shares of Penn West fell 2.3% to $31.48 in morning action on the NYSE. The merger will require a two-thirds majority vote by shareholders. The deal is expected to close in January.
Alcatel-Lucent won't drop any key areas of portfolio(9:52 am ET)
LONDON (MarketWatch) -- Alcatel-Lucent SA (FR:01300: news, chart, profile) (ALU: news, chart, profile) , the world's largest maker of telecommunications equipment, has no intention of exiting any major part of its product portfolio and will stay both in wireless and wireline, Chief Executive Patricia Russo said in a conference call on Wednesday. She also stressed that the company doesn't plan to sell its enterprise business and has begun to a see a slight easing in pricing pressure.
Energy stocks rise ahead of inventory data, Fed announcement(9:39 am ET)
NEW YORK (MarketWatch) -- Energy stocks rose Wednesday ahead of weekly inventory data and an expected decision on interest rates by the U.S. Federal Reserve. The Amex Oil Index (XOI: news, chart, profile) rose 0.4% to 1,471. The Amex Natural Gas Index (XNG: news, chart, profile) also added 0.4%. Transocean (RIG: news, chart, profile) rose 2% to $117.21 after reporting a big increase in net income. Hess (HES: news, chart, profile) rose 2.7% to $70.53 after its earnings update. Noble Energy (NBL: news, chart, profile) rose 3% to $75.32 after it reported a 30% drop in net income. Alpha Natural (ANR: news, chart, profile) rose 3% after it released its earnings. Exxon Mobil (XOM: news, chart, profile) rose 49 cents to $91.63 ahead of its quarterly profit update on Thursday.
Brink's net down after sale of cash-handling operations (9:01 am ET)
BOSTON (MarketWatch) -- Brink's Co. (BCO: news, chart, profile) Wednesday said its third-quarter net income fell to $25.9 million, or 55 cents a share, from $26.5 million, or 56 cents in the year-ago period. The company saw a loss from discontinued operations of $4.1 million, or 8 cents a share, related to its U.K. domestic cash handling operations, which were sold to Loomis UK Ltd., a subsidiary of Securitas AB, in August. Brink's, which provides home-security systems and secure transportation and cash management, said quarterly revenue rose 15% to $817 million. Chief Executive Michael Dan in the earnings release called the latest results "solid" and said the company is on track to meet almost all of its financial goals for 2007. "Despite ongoing weakness in the housing sector, Brink's Home Security should achieve its full-year goal of revenue and profit growth above 10%," the CEO said. The stock closed Tuesday up 30 cents to $59.76.
Newmont Mining 3rd-quarter net doubled, revenue up 49%(8:58 am ET)
TEL AVIV (MarketWatch) -- Newmont Mining Corp., (NEM: news, chart, profile) Denver, reported that third-quarter earnings doubled on 49% higher revenue. Profit reached $397 million, or 88 cents a share, from $198 million, or 44 cents, in the year-earlier period. Earnings from continuing operations were 72 cents against 9 cents. Revenue came in at $1.65 billion against $1.1 billion. Newmont narrowed its outlook for gold sales to a range 5.2 million to 5.4 million ounces at a cost of sales ranging $400 to $430 per ounce for 2007.
Newmont Mining 3rd-quarter net doubled, revenue up 49%(8:57 am ET)
TEL AVIV (MarketWatch) -- Newmont Mining Corp., (NEM: news, chart, profile) Denver, reported that third-quarter earnings doubled on 49% higher revenue. Profit reached $397 million, or 88 cents a share, from $198 million, or 44 cents, in the year-earlier period. Earnings from continuing operations were 72 cents against 9 cents. Revenue came in at $1.65 billion against $1.1 billion. Newmont narrowed its outlook for gold sales to a range 5.2 million to 5.4 million ounces at a cost of sales ranging $400 to $430 per ounce for 2007.
Weyerhaeuser third-quarter income falls(8:55 am ET)
NEW YORK (MarketWatch) -- Weyerhaeuser Co.'s (WY: news, chart, profile) third-quarter earnings fell 55% to $101 million, from $224 million a year earlier, because of a continued weakness in the wood products markets which resulted in lower log prices and a continued decline in housing markets. The company said earnings per share fell to 47 cents from 91 cents. Excluding items, earnings were 55 cents a share for the latest quarter, compared with 95 cents a year ago. A Thomson Financial survey of analysts, on average, projected earnings of 49 cents a share for the quarter. The Federal Way, Wash., forest-products company's sales fell 9% to $4.15 billion from $4.55 billion a year ago. Weyerhaeuser expects earnings from single-family home closings to be significantly lower than the third quarter due to declining market conditions. Land sales not yet under contract that may close in fourth quarter could offset some of this decline. Shares of Weyerhaeuser, which trade on the New York Stock Exchange, closed Tuesday at $74.31, up 46 cents or 0.6%.
Alpha Natural Resources reports lower earnings(8:53 am ET)
BOSTON (MarketWatch) -- Alpha Natural Resources (ANR: news, chart, profile) early Wednesday reported third quarter earnings of $8.9 million, or 14 cents a share, compared with $14.5 million, or 23 cents a share, for the same quarter last year. Revenue increased to $507.1 million, from $475.1 million in 2006. This year's quarter included a pre-tax charge of $2.1 million, or about 2 cents a share, for that abandonment of a development project due to regulatory difficulties.
SPX Corp. swing to a gain(8:52 am ET)
NEWY YORK (MarketWatch) -- SPX Corp. (SPW: news, chart, profile) on Wednesday said third-quarter net income rose to $92.9 million, or $1.75 a share, from a loss of $48.1 million, or 85 cents a share in the year-ago period. Income from continuing operations increased to $1.71 a share from 87 cents a share. Revenue climbed 19% to $1.23 billion from $1.03 billion. Analysts surveyed by Thomson Financial forecast earnings of $1.20 a share and revenue of $1.24 billion, on average. The Charlotte, N.C. manufacturer increased its 2007 profit forecast to $4.70 to $4.80 a share from $4.50 to $4.70 a share. "Our focus on power and energy infrastructure continued to drive strong organic growth in the third quarter, and we are pleased with the solid margin improvement in three of our four segments," the company said. "As expected, our Test and Measurement segment continues to experience difficulties related to the domestic automotive market."
Carpenter Technology profit and revenue rise(8:25 am ET)
NEW YORK (MarketWatch) - Carpenter Technology Corp. (CRS: news, chart, profile) on Wednesday said fiscal first-quarter net income rose to $57.7 million, or $2.24 a share, from $51.2 million, or $1.94 a share, in the year-ago period. Net sales rose to $475 million from $404.5 million. Analysts, on average, expected it to earn $2.10 a share on revenue of $442 million, according to Thomson Financial. The company, which produces and distributes specialty alloys, said it expects that beginning in the second half of its fiscal year, aerospace sales will more closely reflect the increase in growth rate of commercial jet deliveries projected for 2008.
PTC restating results; acquiring CoCreate for $250 mln(8:15 am ET)
BOSTON (MarketWatch) -- Parametric Technology Corp. (PMTC: news, chart, profile) Wednesday said it will restate previous financial results related to certain transactions involving Japan's Toshiba Corp. during fiscal 2001 to 2006. PTC said the transactions appear to have been related to an allegedly fraudulent scheme conducted by an employee of Toshiba. The company said the revenue related to the transactions expected to be restated is about $41 million, while the anticipated reduction in fiscal 2006 revenue is roughly $8 million. PTC said it believes its results for the fiscal fourth quarter and 2007 will not be materially affected by the restatement, which was included in the company's fiscal fourth-quarter earnings release. The company said its quarterly net income was $36.1 million, or 31 cents a share, compared with $28.1 million, or 24 cents a share in the year-ago period. Separately, PTC said it plans to acquire CoCreate Software for $250 million.
SPX Corp. buying Invensys unit APV for $510 mln(8:00 am ET)
NEW YORK (MarketWatch) -- SPX Corp. (SPW: news, chart, profile) said Wednesday it'll pay about $510 million to buy APV, a manufacturer of process equipment and engineered solutions in the sanitary market. APV is a division of Invensys PLC, an international industrial automation, transportation and controls group headquartered in London. APV will become a part of SPX's flow technology segment.
Rockwell Collins 4th-quarter net up 13%, sales up 16%(7:59 am ET)
TEL AVIV (MarketWatch) -- Rockwell Collins Inc., (COL: news, chart, profile) the Cedar Rapids, Iowa, of electronic solutions for commercial and government aviation markets, reported fourth-quarter earnings rose 13% on 16% higher sales. For the quarter ended Sept. 30, earnings reached $156 million, or 93 cents a share, from $138 million, or 79 cents, in the year-earlier period. Sales rose to $1.23 billion from $1.06 billion. A survey of analysts by Thomson Financial produced consensus estimates of 89 cents of profit on $1.17 billion of sales. For fiscal 2008, COL projects earnings of $3.80 to $3.95 a share on sales of $4.7 billion to $4.75 billion. Thomson's survey is looking for earnings of $3.91 on sales of $4.78 billion.
IAC's profit slips, revenue climb 7.4%(7:55 am ET)
LONDON (MarketWatch) -- IAC Interactivecorp (IACI: news, chart, profile) , the owner of the TV shopping channel HSN, Ticketmaster and Web search engine Ask.com, said third-quarter net income slipped 4.2% to $72 million, or 24 cents a share, from $75 million, or 24 cents a share, a year earlier. Adjusted earnings came in at 37 cents a share compared with 35 cents a share in the year-ago period. Revenue climbed 7.4% to $1.41 billion. The average forecast of 14 analysts polled by Thomson Financial was for earnings of 35 cents a share on revenue of 1.52 billion.
Noble Energy net income falls 30%(7:43 am ET)
NEW YORK (MarketWatch) -- Noble Energy Inc. (NBL: news, chart, profile) said third-quarter net income fell to $222.7 million, or $1.28 a share from $318 million, or $1.75 a share in the year-ago period. Adjusted net income in the year-ago period was $1.31 a share after breaking out a gain on its Gulf of Mexico Shelf asset sale. Revenue rose to $813.8 million from $741 million. Analysts surveyed by Thomson Financial forecast earnings of $1.23 a share and revenue of $757.4 million, on average. Fourth-quarter production is expected to range from 193,000 to 197,000 barrels of oil equivalent per day, which represents an increase of 6%-8% above the fourth quarter of 2006.
Avista Corp. swings to a loss, eyes $30 mln rate boost(7:33 am ET)
NEW YORK (MarketWatch) -- Avista Corp. (AVA: news, chart, profile) on Wednesday said it swung to a loss of $3.9 million, or 7 cents a share in its fiscal third quarter, from a gain of $10.1 million, or 20 cents a share in the year-ago period. Revenue for the three months ended Sept. 30 fell to $268 million from $293 million. Avista forecast 2008 earnings of $1.35 a share to $1.55 a share. The company also said it reached a settlement in a rate case with the Washington Utilities and Transportation Commission. Electric rates for its Washington customers will increase by an average of 9.4%, which is expected to increase annual revenue by $30.2 million. "Overall, we are very pleased with the settlement. This should allow for significant improvement in our results for 2008 as compared to 2007," said Avista Chairman and Chief Executive Officer Gary G. Ely.
Lazard profit more than doubles(7:30 am ET)
NEW YORK (MarketWatch) -- Lazard Ltd (LAZ: news, chart, profile) said Wednesday that its third quarter net income rose to $40.3 million, or 73 cents a share from $13.2 million or 34 cents a share a year ago. Revenue for the period rose to $542 million, from $297.6 million last year. The firm said its assets under management were $142.1 billion at the end of the third quarter.
Clorox to buy Burt's Bees for $925 million(7:12 am ET)
NEW YORK (MarketWatch) - Clorox Co. (CLX: news, chart, profile) said Wednesday it will acquire personal-care product company Burt's Bees for $925 million net of an additional $25 million payment for anticipated tax benefits, in a move to capitalize on the popularity in "natural" products. Clorox will fund the all-cash deal through a combination of cash and short-term borrowings. The transaction, which is expected to close by the end of this calendar year, is subject to regulatory approval. Based on its current growth trajectory and estimated 2007 net customer sales of about $170 million, Burt's Bees is expected to add nearly 2 points of top-line growth to Clorox in fiscal years 2008 and 2009, the company said. Clorox expects the deal will dilute its fiscal year 2008 earnings by about 10 cents to 15 cents a share and that it will add slightly to earnings in fiscal year 2009. Excluding such purchase-accounting adjustments, one-time transaction and integration costs as well as non-cash expenses related to the deal, the earnings per share impact is anticipated to be neutral in fiscal year 2008 and "solidly accretive" in fiscal year 2009.
Wyndham Worldwide net income rises (7:12 am ET)
NEW YORK (MarketWatch) -- Wyndham Worldwide Corp. (WYN: news, chart, profile) on Wednesday said third-quarter net income for the three months ended Sept. 30 rose to $117 million or 65 cents a share from $92 million or 45 cents a share in the year-ago period. Adjusted net income increased 17% to $134 million, or 75 cents a share. Revenue gained 16% to $1.2 billion. Analysts surveyed by Thomson Financial forecast 72 cents a share and revenue of $1.19 billion, on average. The Parsippany, N.J. hotelier reiterated its 2007 profit forecast of adjusted income $2.02 a share to $2.13 a share.
Olin swings to 3rd-quarter loss on 28% higher revenue(7:12 am ET)
TEL AVIV (MarketWatch) -- Olin Corp., (OLN: news, chart, profile) the Clayton, Mo., producer of chlorine and other chemicals as well as sporting and military ammunition and firearms parts, swung to a third-quarter loss from a year-earlier profit on 28% higher revenue. In a statement late on Tuesday, Olin reported that the loss was $83.2 million, or $1.12 a share, compared with net income of $56.2 million, or 77 cents, in the year-earlier period. Earnings from continuing operations were 44 cents against 70 cents. A survey of analysts by Thomson Financial estimated profit of 41 cents. Sales reached $350.3 million from $273.7 million. For the fourth quarter, Olin estimated earnings from continuing operations of 30 cents. Thomson's survey is looking for 35 cents.
Iron Mountain posts higher profit; to buy Stratify for $158M(6:21 am ET)
LONDON (MarketWatch) -- Iron Mountain, Inc. (IRM: news, chart, profile) , a provider of records and data protection services, said it's signed an agreement to buy Stratify, Inc., a provider of electronic discovery services and data investigation solutions for legal firms, for $158 million in cash. Separately Iron Mountain said third-quarter net income nearly doubled to $51 million, or 25 cents a share, from $27 million, or 13 cents a share, a year earlier. Revenue climbed 18% to $702 million. The average forecast of three analysts polled by Thomson Financial was for earnings of 18 cents a share on revenue of $687 million. Iron Mountain also lifted its revenue outlook for the year to a range of $2.7 billion to $2.715 billion from an earlier forecast of $2.67 billion to $2.7 billion.

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Thursday, Nov. 1
Con Edison profits rise 35% on rate increases(5:55 pm ET)
SAN FRANCISCO (MarketWatch) -- Consolidated Edison Inc. (ED: news, chart, profile) , the power company that serves most of New York City, reported late Thursday third-quarter net income rose to $312 million, or $1.15 a share, from $231 million, or 92 cents a share, a year ago. Revenue for the three months ended Sept. 30 rose nearly 6% to $3.6 billion from $3.4 billion. Analysts polled by Thomson Financial had forecast the utility would earn $1.06 a share on $3.51 billion in revenue. Shares fell 1.7% to close at $46.27 ahead of the report.
CORRECT--Napster cuts loss to $5.1 million as sales rise 24%(4:49 pm ET)
SAN FRANCISCO (MarketWatch) -- Napster Inc. (NAPS: news, chart, profile) on Thursday reported a second-quarter loss of $5.1 million, or 12 cents a share, compared with a loss of $9 million, or 21 cents a share, a year ago. Revenue for the digital-music service provider rose 24% to $31.6 million from the same period last year. Analysts surveyed by Thomson Financial had forecast Napster to lose 15 cents a share on $30 million in revenue. Napster said it ended the quarter with about 750,000 paid subscribers, down from 770,000 in its fiscal first quarter. Going forward, Napster expects to report third-quarter sales of $33 million. (This corrects an earlier version which reported too many paid subscribers for Napster's quarter.)
CBS CEO: 'No material impact' foreseen if writers strike(4:48 pm ET)
CHICAGO (MarketWatch) -- CBS Corp. Chief Executive Les Moonves told analysts Thursday that the company foresees "no material impact" on its financials should there be a strike by Hollywood screenwriters. Moonves, speaking following CBS's (CBS: news, chart, profile) release of third-quarter results, said the network has "a full slate" of programming "ready to go" should the Writers Guild of America stage a walkout, as many observers expect, possibly as early as Friday. Moonves added that CBS's slate of comedies repeats "extremely well."
Las Vegas Sands swings to third-quarter loss(4:38 pm ET)
LOS ANGELES (MarketWatch) -- Las Vegas Sands Corp. (LVS: news, chart, profile) had a third-quarter loss of $48.5 million, or 14 cents a share, for the period ended Sept. 30, the company said after the close Thursday. A year ago, the Las Vegas-based resort operator reported net income of $97.3 million, or 27 cents a share. Sales were $694.3 million vs. last year's $578.9 million. Excluding various charges, the company would have reported earnings of $41.8 million, or 12 cents a share. Analysts polled by Thomson Financial expected earnings of 31 cents a share on sales of $783 million. Shares ended trading Thursday down $7.78, or 5.9%, to $125.30. After hours, the stock dropped another 17% to $104.07.
Napster cuts loss to $5.1 million as sales rise 24%(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- Napster Inc. (NAPS: news, chart, profile) on Thursday reported a second-quarter loss of $5.1 million, or 12 cents a share, compared with a loss of $9 million, or 21 cents a share, a year ago. Revenue for the digital-music service provider rose 24% to $31.6 million from the same period last year. Analysts surveyed by Thomson Financial had forecast Napster to lose 15 cents a share on $30 million in revenue. Napster said it ended the quarter with about 755,000 paid subscribers, down from 770,000 in its fiscal first quarter. Going forward, Napster expects to report third-quarter sales of $33 million.
Electronic Arts swings to a loss on accounting change(4:28 pm ET)
SAN FRANCISCO (MarketWatch) -- Electronic Arts Inc. swung to a loss for its second fiscal quarter due to a change in how it accounts for revenue from sales of certain types of video games. For the period ended Sept. 30, the video game publisher (ERTS: news, chart, profile) reported a loss of $195 million, or 62 cents a share, compared to earnings of $22 million, or 7 cents a share, for the same period last year. Revenue slipped to $640 million from $784 million. The company said the accounting change resulted in a $296 million increase in deferred net revenue that will be recognized in future periods. Analysts were expecting earnings of 20 cents a share on revenue of $896.2 million, according to data from Thomson Financial.
ACS reports 8 percent increase in first-quarter profit(4:22 pm ET)
SAN FRANCSICO (MarketWatch) - Affiliated Computer Services reported net income of $66.1 million on revenue of $1.49 billion for the quarter ended Sept. 30, compared to a profit of $61.4 million on revenue of $1.38 billion for the same period last year. The company also reported an adjusted non-GAAP earnings per share of 77 cents. Analysts had expected the company to report earnings per share of 84 cents on revenue of $1.49 billion.
Leapfrog Enterprises narrows loss on higher toy margins (4:18 pm ET)
SAN FRANCISCO (MarketWatch) -- Leapfrog Enterprises Inc. (LF: news, chart, profile) , a maker of technology-based learning toys, late Thursday reported a narrower third-quarter loss on declining sales. Leapfrog reported a net loss of $2.8 million, or 4 cents a share, compared with a net loss of $49.7 million, or 79 cents a share, in last year's same period. For the three months ended Sept. 30, Leapfrog said sales fell 22% to $144 million due to fewer sales of toys the company is phasing out. On a brighter note, the company said its gross margin improved to 42.2% of sales vs. 26.6%, helped by lower charges for excess and obsolete inventory and purchase-order cancellations. Looking ahead, Leapfrog said it 2007 revenue will be 10% to 15% below 2006. It estimates a significant improvement in gross margin and net losses.
CBS profit rises 8.3% (4:11 pm ET)
CHICAGO (MarketWatch) -- CBS Corp. reported a higher third-quarter profit on Thursday even as revenue decreased. The New York-based media conglomerate (CBS: news, chart, profile) said it earned $343.3 million, or 48 cents a share, compared with a profit of $316.9 million, or 42 cents a share, in the year-ago quarter. Revenue slipped 3% to $3.4 billion. Analysts polled by Thomson Financial had, on average, been expecting CBS to post a profit of 43 cents as share on revenue of $3.33 billion. In 2007, CBS expects revenue to fall 2-3%, reflecting the divestiture of "lower-margin, slower-growth assets" including 39 radio stations, nine television stations, UPN, and the non- renewal of several of its urban outdoor transit contracts.
GlobalSantaFe Corp. up 3% after earnings (2:31 pm ET)
NEW YORK (MarketWatch) -- GlobalSantaFe Corp. (GSF: news, chart, profile) shares rose 3% to $83.37 in recent trades on the heels of its earnings update after the bell on Wednesday. Robert Van Batenburg of Louis Capital Markets said in a note to clients said the oil service firm turned in "blow out results" amid rising remand for its deep-water business and a slight uptick in bidding for Gulf of Mexico work in the last four weeks.
Rowan's third-quarter income rises 50%(9:47 am ET)
TEL AVIV (MarketWatch) -- Rowan Cos. (RDC: news, chart, profile) , the Houston provider of contract energy-drilling services, reported third-quarter net income rose 50% on 20% higher revenue. Profit was $130.8 million, or $1.16 a share, compared with $87 million, or 78 cents, in the year-earlier quarter. The earnings reflected gains on asset sales of 1 cent a share in the latest period and 2 cents a year earlier. The year-ago number also included 1 cent of profit from discontinued operations. Revenue reached $502.2 million from $417.1 million. A survey of analysts by Thomson Financial produced consensus estimates of $1.14 of profit on $530 million of revenue. Rowan's offshore- rig utilization was 99% during the third quarter of 2007, up from 91% in third-quarter 2006, with the day rate up 8% to $11,400. Rowan's land-rig utilization was 96% during the quarter, down from 98% a year ago.
Administaff profit edges higher(9:38 am ET)
CHICAGO (MarketWatch) -- Administaff Inc. said Thursday that its third-quarter profit grew modestly on greater use of its human resource services by small and medium-sized businesses across the U.S. The Houston-based firm (ASF: news, chart, profile) said net income was $12.2 million, or 45 cents a share, compared with a prior-year profit of $12.1 million, or 43 cents a share. Revenue rose 13.3% to $383.4 million. Analysts polled by Thomson Financial were expecting a profit of 43 cents a share on revenue of $382.1 million.
Energy shares fall as Exxon Mobil weighs on sector(9:36 am ET)
NEW YORK (MarketWatch) -- Energy shares fell Thursday as lower-than-expected earnings from sector giant Exxon Mobil (XOM: news, chart, profile) weighed. Exxon Mobil fell 2.4% to $89.77 in early trades. The Amex Oil Index (XOI: news, chart, profile) dropped 0.8% to 1,484. The Amex Natural Gas Index (XNG: news, chart, profile) dropped 0.8% to 569. Tesoro (TSO: news, chart, profile) fell 3.4% to $58.48 after its earnings update. Sunoco (SUN: news, chart, profile) gave up 4% to $70.55 after its profit report. Marathon Oil (MRO: news, chart, profile) dipped 22 cents to $58.91. Williams (WMB: news, chart, profile) rose 25 cents to $36.74.
Washington Post reports lower third-quarter income(9:33 am ET)
NEW YORK (MarketWatch) -- Washington Post Co.'s (WPO: news, chart, profile) third-quarter earnings fell to $72.5 million from $73.3 million, a year earlier. On a per-share basis, earnings for the quarter were unchanged from the year-ago period at $7.60 a share. The company said results for the most recent quarter included a 62 cents a share gain from the sale of property at its television station in Miami. In addition, the Washington publisher said revenue rose to $1.02 billion from $946.9 million, boosted by higher test preparation revenue, and strong growth in its education and cable television divisions.
PG&E profit drops 29% after year-ago gains(9:22 am ET)
LONDON (MarketWatch) -- Utility PG&E Corp. (PGE: news, chart, profile) said Thursday that its third-quarter net profit fell 29% to $278 million, or 77 cents a share, from $393 million, or $1.09 a share, a year earlier. Total operating revenue for the period rose 3.5% to $3.28 billion. Analysts polled by Thomson Financial had been expecting earnings of 86 cents a share on revenue of $3.5 billion. The company said the result leaves it on track to meet expectations of earnings in the upper half of its guidance range of $2.70 to $2.80 per share. The drop in earnings from a year ago was mainly due to several one-off gains in the year-ago quarter. The company also reaffirmed its guidance for 2008 earnings of $2.90 to $3 a share.
CenturyTel reports higher third-quarter earnings(9:23 am ET)
TEL AVIV (MarketWatch) -- CenturyTel (CTL: news, chart, profile) , the Monroe, La., provider of communications, high-speed Internet and entertainment services, reported third-quarter earnings were up 48% on 14% higher revenue. Earnings reached $113.2 million, or $1.01 a share, from $76.3 million, or 64 cents, in the year-earlier period. Adjusted earnings were 97 cents a share compared with 66 cents. Revenue reached $708.3 million from $619.8 million. A survey of analysts by Thomson Financial produced consensus estimates of 89 cents of profit on $682 million of revenue.
Sempra Energy's third-quarter earnings decline(9:21 am ET)
NEW YORK (MarketWatch) -- Sempra Energy (SRE: news, chart, profile) said Thursday that its third-quarter net income fell to $305 million, or $1.15 a share, from $653 million, or $2.49 a share in the year-earlier period, which included $1.21 a share in gains. Earnings from continuing operations were $1.24 a share. Revenue declined slightly to $2.66 billion from $2.69 billion. Analysts surveyed by Thomson Financial forecast earnings of $1.03 a share and revenue of $2.84 billion, on average. Sempra Energy also said it expects to report full-year earnings of more than $4 a share, compared to previous guidance of $3.75 to $3.95. Analysts are expecting $3.95 a share in earnings for 2007.
Analyst praises Exxon's overseas refining and marketing (9:14 am ET)
NEW YORK (MarketWatch) -- Lehman Brothers analyst Paul Cheng on Thursday said in a note to clients that Exxon Mobil's (XOM: news, chart, profile) results, "will have a slightly negative impact on the stock due to lower than expected oil and gas production volume as well as slightly lower than consensus earnings." He said it's unclear if there are any "one off" operating items included in the result such as assets sales gain, foreign exchange, or inventory gain/(loss) since the oil giant does not break out these items as specials. Exxon Mobil beat his target of $1.67 a share with earnings of $1.70 a share, "primarily driven by a better than expected international refining and marketing results."
Mylan reports higher profit, helped by Matrix acquisition(9:11 am ET)
BOSTON (MarketWatch) -- Mylan Inc. (MYL: news, chart, profile) reported higher fiscal second-quarter earnings early Thursday, due largely to the recent acquisition of Matrix. For the quarter, Mylan posted net income of $149.8 million, or 60 cents a share, compared with $77.5 million, or 36 cents a share, for the same period last year. Excluding various charges, Mylan would have reported adjusted earnings of 31 cents a share. Revenue jumped to $477.1 million, from $366.7 million. A poll of analysts by Thomson Financial saw the generic drugmaker posting adjusted earnings of 25 cents a share, on revenue of $471 million.
Lawsuits drive Health Net to loss (9:06 am ET)
CHICAGO (MarketWatch) -- The settlement of a trio of class-action lawsuits drove Health Net deep into the red in the third quarter, the HMO said Thursday. Health Net (HNT: news, chart, profile) reported a loss of $103.8 million, or 93 cents a share, on the period -- a turn from a profit of $90.9 million, or 76 cents a share, in the same quarter of 2006. Included in the latest numbers is the impact of $296.8 million in pretax charges from its agreement to settle the suits, along with a proposed resolution of regulatory problems with the New Jersey Department of Banking and Insurance and various other litigation matters.
FTI Consulting swings to a gain(9:03 am ET)
NEW YORK (MarketWatch) -- FTI Consulting Inc. (FCN: news, chart, profile) said Thursday its third-quarter net income rose to $22.9 million, or 50 cents a share, from a loss of $286,000, or a penny a share in the year-ago period. Revenue rose to $253.3 million from $162 million. Analysts surveyed by Thomson Financial forecast earnings of 48 cents a share and revenue of $237.3 million, on average.
Regal Beloit's third-quarter earnings rise(8:57 am ET)
NEW YORK (MarketWatch) -- Regal Beloit Corp. (RBC: news, chart, profile) said Thursday its third-quarter profit rose to $31.2 million, or 92 cents a share, from $29.7 million, or 89 cents per share, in the year-earlier quarter. A Thomson Financial poll of analysts had predicted earnings of 92 cents a share. The Beloit, Wisc.-based maker of power-generation products said net sales increased to $449.4 million from $419.3 million the year before. It forecast fourth-quarter earnings of 67 to 74 cents a share.
Rite Aid October same-store sales inch higher(8:58 am ET)
NEW YORK (MarketWatch) - Drugstore operator Rite Aid Corp. (RAD: news, chart, profile) on Thursday said October same-store sales, or sales at stores open at least one year, rose 0.4%. Pharmacy same-store sales increased 1.3%, which included a negative impact of about 429 basis points from new generic introductions. Front-end same-store sales, which include general merchandise, fell 1.4%. For the four weeks ended Oct. 27, total drugstore sales rose 50.7% to $1.99 billion compared to $1.32 billion for the same period last year. Prescription revenue accounted for 69% of drugstore sales, and third party prescription revenue represented about 96% of pharmacy sales. Total sales include all of the stores operated during the period, including stores acquired in the Brooks Eckerd acquisition on June 4, while same-store sales figures exclude these acquired operations.
PSEG net income rises 35%(8:56 am ET)
NEW YORK (MarketWatch) -- Public Service Enterprise Group (PEG: news, chart, profile) on Thursday said third-quarter net income rose to $506 million, or $1.99 a share from $374 million, or $1.48 a share in the year-ago period. Earnings from continuing operations rose to $500 million, or $1.97 a share, from $372 million, or $1.47 a share. Excluding an item, operating earnings for the latest period rose to $2 a share. Analysts surveyed by Thomson Financial forecast earnings of $1.81 a share, on average. The Newark, N.J. utility increased its 2007 earnings forecast to $5.15-$5.45 a share, from $4.90-$5.30 a share.
Dominion third-quarter income more than triples(8:43 am ET)
NEW YORK (MarketWatch) -- Dominion Resources Inc.'s (D: news, chart, profile) third-quarter income more than tripled to $2.32 billion, or $7.24 a share, from $654 million, or $1.85 a share, a year earlier. Operating earnings, which, in the most recent period, excluded items such as a a $1.4 billion net benefit from the sale of a unit, were $1.72 a share, compared to $1.88 a share in the year-earlier period. On average, analysts polled by Thomson Financial expected earnings of $1.70 a share and revenue of $3.64 billion. The Richmond, Va., utility holding company said operating revenue fell 10% to $3.59 billion from $3.97 billion a year ago. The company increased its quarterly common stock dividend rate 11% to 79 cents per share and set a policy to achieve a 2010 payout ratio of 55%. Dominion also said it is "well positioned" to achieve its operating earnings forecast of $6.10 to $6.25 per share next year.
Radian swings to 3rd-quarter loss on negative net revenue(8:38 am ET)
TEL AVIV (MarketWatch) -- Radian Group Inc., (RDN: news, chart, profile) the Philadelphia credit-risk-management company, swung to a third-quarter loss from a year-earlier profit on negative total revenue. The loss totaled $703.9 million, or $8.78 a share, compared with net income of $112 million, or $1.36, in the year-earlier period. The total revenue figure was a negative $104.4 million compared with a positive $321.8 million. The negative revenue reflected a change in the fair value of derivatives of a negative $643.9 million. Despite the loss, Radian's book value is $42.86 a share "and we are well positioned with our strong capital and liquidity position to weather the challenging credit cycle," Chief Executive S.A. Ibrahim said in a statement. "While mortgage-insurance credit losses will continue to impact our results for the foreseeable future, I'm encouraged by the positive trends in mortgage insurance penetration and by the resiliency of our financial guaranty business."
Progress Energy reports flat third-quarter earnings(8:27 am ET)
NEW YORK (MarketWatch) -- Progress Energy Inc.'s (PGN: news, chart, profile) third-quarter earnings remained flat at $319 million, as revenue rose 12%. On a per-share basis, earnings decreased to $1.24 from $1.27 a year ago, as the number of average weighted shares outstanding rose. The energy company said third-quarter ongoing earnings rose to $1.14 a share from $1.09 last year, helped by favorable weather, lower income taxes at the core businesses and increased wholesale sales. Core ongoing earnings for the third quarter, which exclude ongoing earnings from the coal and synthetic fuels operations, rose to $1.21 a share from $1.06 a share a year earlier. Revenue for the full year rose to $3.1 billion from $2.78 billion a year ago. For the full year, the company reaffirmed its core ongoing earnings view of $2.70 to $2.90 a share.
Blockbuster posts wider third-quarter loss(8:22 am ET)
NEW YORK (MarketWatch) -- Blockbuster Inc.'s (BBI: news, chart, profile) third-quarter net loss widened to $35 million, or 20 cents a share, from a year-earlier loss of $24.7 million, or 15 cents a share. The Dallas video retail chain said revenue fell 5.7% to $1.24 billion from $1.31 billion a year ago, due to the closure and sale of 526 company-operated stores worldwide. On average, analysts polled by Thomson Financial expected a loss of 18 cents a share and revenue of $1.28 billion. Worldwide same-store rental revenues for the period were up 1.1% from the year-ago period. The company has implemented a plan to reduce annual overhead costs by about $45 million through the elimination of "staffing and operational redundancies and through improvements in other operating efficiencies." Blockbuster also said it will concentrate on the growth of its total membership, as opposed to only its online subscriber count.
Morningstar's net income rises 47%(8:09 am ET)
BOSTON (MarketWatch) -- Investment research firm Morningstar Inc. (MORN: news, chart, profile) Thursday said its third-quarter profit rose to $19.9 million, or 41 cents a share, from $13.5 million, or 29 cents a share, in the year-ago period. The Chicago-based company's revenue rose to $111.9 million from $81.8 million a year earlier. Quarterly results included $10.2 million in revenue from acquisitions over the past year, Morningstar said. Assets under management in its investment-consulting business climbed to $91.4 billion from $47.6 billion the prior year. More than 20% of revenue is coming from outside the U.S., said Chief Executive Joe Mansueto in a statement. The stock closed Wednesday up 1.9% to $74.42.
International Game Technology fourth-quarter income rises(8:00 am ET)
NEW YORK (MarketWatch) -- International Game Technology (IGT: news, chart, profile) said Thursday that its fourth-quarter earnings rose to $122.6 million, or 38 cents a share from a year-ago $114.9 million, or 33 cents a share. Revenue increased in the latest three months to $353.3 million from $333.8 million in the year-earlier period. The average estimate of analysts polled by Thomson Financial was for a profit of 38 cents a share. The stock closed Wednesday at $43.61.

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11-01-07 a day of disaster

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Friday, Nov. 2
Berkshire quarterly net jumps on big investment gains(5:24 pm ET)
SAN FRANCISCO (MarketWatch) -- Berkshire Hathaway (BRKA: news, chart, profile) (BRKB: news, chart, profile) said late Friday that third-quarter net income came in at $4.55 billion, or $2,942 per class A share, up 64% from a year earlier when the the insurance-focused conglomerate run by Warren Buffett made $2.77 billion, or $1,797 a share. Investment and derivative gains of $1.99 billion, or $1,287 per class A share, accounted for all the gains in the period. Operating income, which excludes net realized investment gains and losses, was $2.56 billion, or $1,655 per class A share, down slightly from a year earlier when Berkshire made an operating profit of $2.6 billion, or $1,684 a share, the company said.
NameMedia Inc. files $173 mln IPO(1:04 pm ET)
NEW YORK (MarketWatch) -- NameMedia Inc. on Friday filed to raise up to $173 million in an initial public offering with Jefferies Inc. (JEF: news, chart, profile) . The Waltham, Mass. company specializes in targeted online media and is a leading online marketplace for domain names. It'll trade on the Nasdaq under the symbol NAME. For the nine months ended Sept. 30, the company rang up net income of $160,000 on revenue of $58.3 million, compared to $2.2 million in net income and revenue of $42 milllion in the year-ago period. Shareholders include Highland Capital Partners and Summit Partners.
Energy stocks boosted by gains in overall market(9:42 am ET)
NEW YORK (MarketWatch) -- Energy stocks recovered from a sell-off in the previous session amid gains in the overall market on better-than-expected jobs data. Chevron (CVX: news, chart, profile) fell 1.3% to $87.80 after its profit missed Wall Street's target. Marathon Oil (MRO: news, chart, profile) rose after Credit Suisse upgraded the company to outperform from neutral. Exxon Mobil (XOM: news, chart, profile) fell 7 cents to $88.43. The Amex Oil Index (XOI: news, chart, profile) rose 0.7% to 1,463. The Amex Natural Gas Index (XNG: news, chart, profile) rose 0.4% to 566. National Oilwell Varco (NOV: news, chart, profile) added 1.4% to $71.30. Oil futures gained 76 cents to $94.15 in recent action.
SuccessFactors IPO sets price range in $97 mln deal(9:02 am ET)
NEW YORK (MarketWatch) -- SuccessFactors Inc. on Friday set an estimated price range of $8-$10 a share in its upcoming initial public of 10.79 million shares. Based on the midpoint of the range, the comapany plans to raise $97 million in the IPO. The San Mateo, Calif. provider of on-demand performance and talent management software plans to trade under the symbol SFX on the New York Stock Exchange. Morgan Stanley (MS: news, chart, profile) and Goldman Sachs (GS: news, chart, profile) are underwriting the deal.
Cigna gives 2008 forecast(8:45 am ET)
NEW YORK (MarketWatch) -- Employee benefits group Cigna Corp. (CI: news, chart, profile) said during its conference call Friday that it expects 2008 adjusted income from operations of $1.16 billion to $1.22 billion, or $4.00 to $4.20 a share. The company also added that it sees organic growth of 3% to 5% in medical membership for 2008. Analysts polled by Thomson Financial are expecting, on average, earnings of $4.23 a share for 2008.
Brookfield's net income falls(8:42 am ET)
BOSTON (MarketWatch) -- Brookfield Asset Management Inc. (BAM: news, chart, profile) Friday said its third-quarter net income fell to $93 million, or 13 cents a share adjusted for a three-for-two stock split, from $245 million, or 40 cents a share, in the prior year. The company said depreciation on newly-acquired assets reduced net income by $76 million during the quarter. The Toronto-based property, power and infrastructure company said total cash flow from operations fell to $321 million from $368 million a year earlier. Brookfield said it expects to book a pre-tax gain of about $250 million in the fourth quarter related to its sale of its shares of Stelco to U.S. Steel Corp. (X: news, chart, profile) .
Superior Industries narrows third-quarter loss(8:29 am ET)
NEW YORK (MarketWatch) -- Superior Industries International Inc. (SUP: news, chart, profile) on Friday reported a third-quarter loss of $644,000, or 2 cents a share, narrower than the year-ago loss of $7.7 million, or 29 cents a share. Revenue rose in the latest three months to $227.6 million from $174.3 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 7 cents a share in the quarter. Shares of the Van Nuys, Calif., maker of aluminum wheels closed Thursday at $19.83.
Edison International net income rises 1%(8:22 am ET)
NEW YORK (MarketWatch) -- Edison International (EIX: news, chart, profile) said Friday third-quarter net income rose 1% to $461 million, or $1.39 a share, from $458 million, or $1.38 a share in the year-ago period. Core earnings rose to $1.41 a share from $1.32 a share. Revenue climbed to $3.94 billion from $3.8 billion. Analysts surveyed by Thomson Financial forecast earnings of $1.30 a share, on average. The company now expects earnings to be at the high end of its forecasted range of $3.24 to $3.59 for core earnings a share and $2.90 a share to $3.25 a share for reported earnings per share.
Walgreen October same-store sales rise 6.9%(8:23 am ET)
NEW YORK (MarketWatch) - Drug store operator Walgreen Co. (WAG: news, chart, profile) on Friday said October same-store sales, or sales at stores open at least a year, rose 6.9%. Total sales for the month rose 11.8% to $4.83 billion. October pharmacy sales increased 12.9%, while same-pharmacy sales rose 7.8%. Same-pharmacy sales were hurt by 4.3 percentage points due to generic drug introductions in the last 12 months. Total prescriptions filled at comparable stores rose 5.6%. Pharmacy sales accounted for 66.6% of total sales for the month. Comparable store front-end sales rose 5.1% during October. Deerfield, Ill.-based Walgreen said calendar day shifts accounted for a boost of 1.4 percentage points on comparable pharmacy sales. Patients fill more prescriptions on weekdays compared to weekends, and this year's October had one additional Wednesday and one fewer Sunday compared to the year-ago month, Walgreen said.
Scana's net rises; backs full-year outlook(8:02 am ET)
BOSTON (MarketWatch) -- Scana Corp. (SCG: news, chart, profile) Friday said its third-quarter net income rose to $92 million, or 79 cents a share, from $89 million, or 76 cents, in the previous year. The consensus analyst estimate was profit of 79 cents a share, according to a survey conducted by Thomson Financial. The energy company reiterated its full-year outlook of earnings in the range of $2.70 to $2.85 a share. Its forecast for 2008 net income is between $2.90 and $3.05 a share. Wall Street sees profit of $2.68 and $2.84 a share for 2007 and 2008, respectively.
Martha Stewart Living net loss narrows(8:03 am ET)
NEW YORK (MarketWatch) - Media and home goods company Martha Stewart Living Omnimedia Inc. (MSO: news, chart, profile) on Friday said its net loss narrowed to $4.4 million, or 8 cents a share, from a year-ago loss of $25.2 million, or 49 cents a share. Excluding a litigation reserve and licensing resolution, the year-ago loss per share would have been 18 cents. Total revenue rose to $69.3 million from $61.1 million. Analysts, on average, expected it to lose 13 cents a share on revenue of $68 million, according to Thomson Financial. The New York-based company said it is "well positioned" to return to profitability and generate positive free cash flow in 2007. For the fourth quarter, the company expects revenue of about $120 million, operating income in the range of $33 million to $35 million and adjusted EBITDA in the range of $37 million to $39 million. For the year, Martha Stewart Living Omnimedia expects revenue of about $330 million, operating profit in the range of $7.5 million to $9.5 million, and adjusted EBITDA in the range of $33 million to $35 million. The revised adjusted EBITDA primarily reflects investments in revenue-generating staff for its media businesses and Marthapedia, an Internet project under development, as well as a more conservative posture on the housing market, the company said. Analysts polled by Thomson Financial expect it to post revenue for the fourth quarter of $126 million and full-year revenue of $336 million, on average.
Arch Chemicals reports a loss in third quarter(8:00 am ET)
NEW YORK (MarketWatch) -- Arch Chemicals Inc. (ARJ: news, chart, profile) on Friday reported a third-quarter loss of $12.6 million, or 51 cents a share, down from a year-ago profit of $7.3 million, or 30 cents a share. Third-quarter earnings from continuing operations, excluding special items, were 45 cents a share. Sales rose in the latest three months to $376.5 million from $348.5 million in the year-earlier period. The average estimate of analysts polled by Thomson Financial was for a profit of 43 cents a share in the quarter. Looking ahead, Norwalk, Conn.-based Arch said it expects earnings from continuing operations of $2.07 to $2.17 a share, before items, for fiscal 2007 with sales growth of 4% to 6%. Wall Street's current consensus estimate is for earnings of $2.28 a share for 2007. The stock closed Friday at $42.80.
Teco Energy Q3 net rises 16%(7:46 am ET)
NEW YORK (MarketWatch) -- Teco Energy (TE: news, chart, profile) on Friday said third-quarter net income rose to $92.8 million, or 44 cents a share, from $79.7 million, or 38 cents a share in the year-ago period. Revenue rose to $990 million from $922.9 million. Analysts surveyed by Thomson Financial forecast earnings of 35 cents a share and revenue of $850 million, on average. The company reiterated its target for 2007 non-GAAP earnings of 97 cents a share to $1.07 a share. Analysts expect earnings of $1.02 a share.
Aimco's FFO rises, meeting expectations(7:34 am ET)
BOSTON (MarketWatch) -- Apartment Investment and Management Co. (AIV: news, chart, profile) Friday said its third-quarter funds from operations, a common measure of financial performance for real estate investment trusts, rose to $80.2 million, or 83 cents a share, from $74.3 million, or 74 cents a share, in the year-ago period. The Denver-based apartment landlord, known as Aimco, said total revenue rose to $431.2 million from $405.8 million a year earlier. Wall Street analysts had forecast quarterly FFO of 83 cents a share. "Most of our markets performed well and met our expectations; however, Florida was softer than we had anticipated," said Chief Executive Terry Considine in the earnings release. The company raised the low end of its full-year outlook, saying it now sees FFO between $3.37 to $3.43 a share, compared with a range of $3.33 to $3.43 a share previously. For the fourth quarter, it sees FFO between 89 cents and 95 cents a share. Analysts polled by Thomson Financial are forecasting 2007 FFO of $3.35 a share, and fourth-quarter FFO of 90 cents a share, on average.
OM Group Q3 earnings $1.26 per share vs $2.97(7:23 am ET)
NEW YORK (MarketWatch) -- OM Group, Inc. (OMG: news, chart, profile) said Friday its third-quarter profit totaled $38.1 million, or $1.26 per share, from $88 million, or $2.97 per share, in the same quarter a year before. Revenue for the Cleveland-based chemical producer was $265 million for the quarter, compared with $170 million in the year-earlier period. A poll of analysts by Thomson Financial had expected earnings of $1.15 per share. OM Group said efforts to control costs would "result in a company with consolidated revenues of $2 billion to $4 billion by 2010." The company also said its acquisition of Rockwood Holdings should close by the end of year.
Elizabeth Arden swings to first-quarter profit(7:24 am ET)
NEW YORK (MarketWatch) -- Elizabeth Arden Inc. (RDEN: news, chart, profile) said Friday that it swung to a first-quarter net profit of $350,000, or 1 cent a share, from a year-ago net loss of $1.3 million, or 5 cents a share. Excluding restructuring charges, first-quarter profit was $1.1 million, or 4 cents a share. The New York-based cosmetics company said revenue rose 6.7% to $271.8 million for the three months ended Sept. 30, up from $254.8 million in the year-earlier period. Analysts polled by Thomson Financial were expecting, on average, a per-share loss of 5 cents on revenue of $270.2 million. For fiscal 2008, the company confirmed that it expects net sales to rise 5% to 7% and earnings in the range of $1.65 to $1.75 a share. Analysts are looking for a fiscal 2008 profit of $1.68 a share. Elizabeth Arden shares closed Thursday at $24.09.
Duke Energy profit falls after Spectra spin-off(7:22 am ET)
NEW YORK (MarketWatch) -- Duke Energy (DUK: news, chart, profile) on Friday said third-quarter net income for the three months ended Sept. 30 fell to $607 million, or 48 cents a share from $763 million, or 60 cents a share. The year-ago figure included natural gas operations spun off to become Spectra Energy (SE: news, chart, profile) . Income from continuing operations increased to 48 cents a share from 38 cents a share. Ongoing earnings increased to 48 cents a share from 29 cents a share. Operating revenue rose to $3.8 billion from $3.3 million. Analysts surveyed by Thomson Financial forecast earnings of 39 cents a share and revenue of $3.43 billion, on average. The Charlotte, N.C. energy company cited hotter than normal weather. Duke Energy said it'll beat its employee incentive target of 2007 ongoing earnings of $1.15 a share.
Magellan Health profit up 18%(6:48 am ET)
LONDON (MarketWatch) -- Magellan Health Services Inc. (MGLN: news, chart, profile) said Friday that its third-quarter net profit rose 18% to $25.1 million, or 63 cents a share, from $21.2 million, or 54 cents a share. Revenue rose 30% to $558.1 million. Analysts polled by Thomson Financial had expected revenue of $540 million. Magellan also raised its earnings guidance, saying it expects to generate a segment profit for 2007 in the range of $215 million to $225 million compared to its previous guidance of a range of $180 million to $200 million. Earnings per share are seen in a range of $2.13 to $2.39 for the year.
Harris Interactive tallies 17% quarterly revenue growth(6:49 am ET)
WASHINGTON (MarketWatch) -- Harris Interactive Corp. (HPOL: news, chart, profile) reported a net profit of $1.1 million for the first quarter ended Sept. 30, up from $932,000 in the year-ago period. Earnings per share were 2 cents in both reporting periods. The Rochester, N.Y.-based company's quarterly revenue reached $55.2 million from $47.2 million. Gross margin narrowed to 50.7% from 52.4%, with bookings up 18% to $50.8 million. Analysts, on average, had been looking for earnings of 2 cents a share on revenue of $56.4 million, according to estimates compiled by Thomson Financial. Ronald Salluzzo, chief financial officer of Harris Interactive, said management remains "comfortable" with its previously disclosed full-year forecast pegging earnings at 17 cents to 18 cents a share along with revenue of between $258 and $265 million.
Barnes Group profit up 47%, raises lower end of guidance(6:32 am ET)
LONDON (MarketWatch) -- Aerospace company Barnes Group Inc. (B: news, chart, profile) said Friday that its third-quarter net profit rose 47% to $27.7 million, or 47 cents a share, from $18.9 million, or 35 cents a share. Net sales for the quarter rose 11.9% to $360.4 million. Analysts polled by Thomson Financial had expected earnings of 44 cents a share on revenue of $357 million. Growth was driven by its Barnes Aerospace unit, which saw sales rise 34%, while its industrial unit saw revenue rise 3.5%. The group also raised the lower end of its 2007 earnings guidance, saying it expects to report earnings in a range of $1.79 a share to $1.83 a share from a range of $1.74 a share to $1.83 a share.
Alliant sees bigger 2007 non-regulated profit contribution(6:26 am ET)
WASHINGTON (MarketWatch) -- Alliant Energy Corp. (LNT: news, chart, profile) revised its profit forecast for 2007, primarily to reflect a bigger contribution from its non-regulated businesses. For the company as a whole, Alliant now sees full-year earnings in a range of $2.52 to $2.62 a share, as opposed to a range of $2.42 to $2.62 a share previously. The company's core utility operations are now projected to generate 2007 earnings of $2.27 to $2.37 a share, narrower than the previously projected range of $2.22 to $2.42 a share. The profit contribution from Alliant's non-regulated businesses now stands at 19 cents to 23 cents a share, up from 11 cents to 15 cents a share previously. According to Thomson Financial, analysts' average profit projections for 2007 stand at $2.49 a share and at $2.52 a share on a fully reported basis.
Alliant Energy's quarterly net rises 52%(6:17 am ET)
WASHINGTON (MarketWatch) -- Alliant Energy Corp. (LNT: news, chart, profile) reported third-quarter net income of $119.6 million, or $1.08 a share, up from $78.8 million, or 67 cents, earned in the same period during 2006. Quarterly revenue generated by the Madison, Wisc.-based company reached $907.3 million from the prior year's $890.4 million, reflecting a big jump in the top-line contribution from non-regulated operations. Earnings from continuing operations climbed to $116.2 million, or $1.05 a share, from $87.8 million, or 75 cents, in the year-ago third quarter. Analysts had, on average, been looking for Alliant to post a profit of 94 cents a share on revenue of $903 million, according to estimates compiled by Thomson Financial.
Mazda Motor says fiscal Q2 climbed 29% to 26.6B yen(5:19 am ET)
HONG KONG ( MarketWatch) -- Mazda Motor Corp. (JP:7261: news, chart, profile) said Friday its net income for the three months ended Sept. 30 rose 29% on year owing to higher sales of compact vehicles to North America and other markets. Mazda, Japan's fifth-largest automaker, said net profit for the second fiscal quarter reached 26.6 billion yen ($232.1 million), up from 20.6 billion yen in the year-ago period. Revenue rose 7% to 841.9 billion yen from 787.1 billion yen. North American sales climbed 7% to 213,000 units, lifted by brisk sales of the Mazda3 subcompact and CX-7 sport-utility vehicle. Shares of Mazda fell 2.6% to 686 yen in Tokyo trading Thursday. For the full year, Mazda kept its forecast for a group net profit of 85 billion yen.
NYSE Euronext profit soars amid record trading levels(3:43 am ET)
LONDON (MarketWatch) -- Recently merged exchange group NYSE Euronext (NYX: news, chart, profile) (FR:NYX: news, chart, profile) said Friday that its fourth-quarter net profit jumped to $258 million, or 97 cents a share, from the $68 million, or 43 cents a share, that was reported by the NYSE arm on its own last year. Adjusted earnings -- assuming the merger had occurred a year earlier but excluding one-off costs and a tax gain -- rose to 76 cents a share from 44 cents a share. Revenue roughly doubled to $1.2 billion from $602 million, helped by record trading volumes in the quarter. Analysts had been expecting the exchange to report earnings of 73 cents a share on revenue of $824 million. Cash trading revenue more than doubled to $466 million from $171 million, while revenue from derivatives trading was $243 million, up from $9 million for NYSE's operations last year.
BSkyB profit slips 28%, broadband customers top 1 mln mark(3:24 am ET)
LONDON (MarketWatch) -- U.K. satellite television operator British Sky Broadcasting (UK:BSY: news, chart, profile) said Friday that its net profit for the three months ended Sept. 30 fell 28% to 84 million pounds ($174 million), while revenue for the period rose 11% to 1.19 billion pounds. BSkyB said operating profit fell to 143 million pounds from 180 million pounds, noting it invested over 50 million pounds in its broadband service during the quarter. Net customers rose 83,000 to 8.67 million in the quarter. Broadband subscribers rose 31% to 939,000 and subsequently passed the 1 million customers mark in October. Customers for its high definition service rose 23% to 358,000. The company added it expects that performance for the year will be in line with its plans.
Thursday, Nov. 1
Con Edison profits rise 35% on rate increases(5:55 pm ET)
SAN FRANCISCO (MarketWatch) -- Consolidated Edison Inc. (ED: news, chart, profile) , the power company that serves most of New York City, reported late Thursday third-quarter net income rose to $312 million, or $1.15 a share, from $231 million, or 92 cents a share, a year ago. Revenue for the three months ended Sept. 30 rose nearly 6% to $3.6 billion from $3.4 billion. Analysts polled by Thomson Financial had forecast the utility would earn $1.06 a share on $3.51 billion in revenue. Shares fell 1.7% to close at $46.27 ahead of the report.
CORRECT--Napster cuts loss to $5.1 million as sales rise 24%(4:49 pm ET)
SAN FRANCISCO (MarketWatch) -- Napster Inc. (NAPS: news, chart, profile) on Thursday reported a second-quarter loss of $5.1 million, or 12 cents a share, compared with a loss of $9 million, or 21 cents a share, a year ago. Revenue for the digital-music service provider rose 24% to $31.6 million from the same period last year. Analysts surveyed by Thomson Financial had forecast Napster to lose 15 cents a share on $30 million in revenue. Napster said it ended the quarter with about 750,000 paid subscribers, down from 770,000 in its fiscal first quarter. Going forward, Napster expects to report third-quarter sales of $33 million. (This corrects an earlier version which reported too many paid subscribers for Napster's quarter.)
CBS CEO: 'No material impact' foreseen if writers strike(4:48 pm ET)
CHICAGO (MarketWatch) -- CBS Corp. Chief Executive Les Moonves told analysts Thursday that the company foresees "no material impact" on its financials should there be a strike by Hollywood screenwriters. Moonves, speaking following CBS's (CBS: news, chart, profile) release of third-quarter results, said the network has "a full slate" of programming "ready to go" should the Writers Guild of America stage a walkout, as many observers expect, possibly as early as Friday. Moonves added that CBS's slate of comedies repeats "extremely well."
Las Vegas Sands swings to third-quarter loss(4:38 pm ET)
LOS ANGELES (MarketWatch) -- Las Vegas Sands Corp. (LVS: news, chart, profile) had a third-quarter loss of $48.5 million, or 14 cents a share, for the period ended Sept. 30, the company said after the close Thursday. A year ago, the Las Vegas-based resort operator reported net income of $97.3 million, or 27 cents a share. Sales were $694.3 million vs. last year's $578.9 million. Excluding various charges, the company would have reported earnings of $41.8 million, or 12 cents a share. Analysts polled by Thomson Financial expected earnings of 31 cents a share on sales of $783 million. Shares ended trading Thursday down $7.78, or 5.9%, to $125.30. After hours, the stock dropped another 17% to $104.07.
Napster cuts loss to $5.1 million as sales rise 24%(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- Napster Inc. (NAPS: news, chart, profile) on Thursday reported a second-quarter loss of $5.1 million, or 12 cents a share, compared with a loss of $9 million, or 21 cents a share, a year ago. Revenue for the digital-music service provider rose 24% to $31.6 million from the same period last year. Analysts surveyed by Thomson Financial had forecast Napster to lose 15 cents a share on $30 million in revenue. Napster said it ended the quarter with about 755,000 paid subscribers, down from 770,000 in its fiscal first quarter. Going forward, Napster expects to report third-quarter sales of $33 million.

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