Stocks in the news: Procter & Gamble, Motorola, Sprint, Exxon Mobil

TheProcter & Gamble Co. (PG) says profit dropped slightly in its first quarter to $3.35 billion, or 1.06 per share, as sales fell 6 percent to $19.8 billion with consumers around the world keeping tight reins on spending. Analysts expected earnings of 99 cents on $19.83 billion. The company also said it sees signs of a rebound in results that were better than expected, and a better sales outlook for the rest of the year. Shares were 2.5 percent higher ahead of the bell.

Motorola (MOT) reported an unexpected profit of $12 million, or a penny per share, for the third quarter as operating losses in its struggling mobile phone division narrowed. Excluding items, earnings were 2 cents per share. Analysts had expected a break-even quarter. Sales fell 27 percent to $5.4 billion, below expectations of $5.5 billion. Shares jumped nearly 9 percent in premarket trading.
Sprint Nextel's
(S) losses grew in the third quarter to $478 million, or 17 cents per share, as wireless subscribers continued to leave for other carriers. Revenue slipped 9 percent to $8.04 billion. Analysts surveyed by Thomson Reuters expected a loss of 15 cents per share on $8.09 billion in revenue. Shares fell about 2 percent before the bell.

Exxon Mobil Corp. (XOM) on Thursday said its quarterly profit plunged 68 percent to $4.73 billion, or 98 cents per share, falling short of Wall Street estimates of $1.03 per share, according to Thomson Reuters I/B/E/S, as the global recession bit into fuel demand and crude oil prices fell from year-ago levels. Revenue fell to $82.26 billion from $137.7 billion a year ago. Shares fell about 2 percent in premarket trade.

Aetna Inc. (AET) said Thursday its third-quarter profit rose 18 percent to $326.2 million, or 73 cents per share, on gains in both commercial and Medicare enrollment. However, operating earnings slipped 43 percent to $308.2 million, or 69 cents per share. Revenue grew 9 percent to $8.7 billion. The results topped Wall Street expectations for operating earnings of 66 cents per share on $8.68 billion in revenue.

Boeing Co. (BA) said late Wednesday it will open a second assembly line for its 787 jetliner in South Carolina, expanding beyond its longtime manufacturing base in Washington state.

Colgate-Palmolive Co. (CL) said Thursday that its third-quarter profit rose to $590 million, or $1.12 a share. Revenue also rose slightly to $4.00 billion, from $3.99 billion last year. Analysts polled by FactSet Research had expected the company to earn $1.11 a share.

There are many more earnings today, here are a few more:
Read Full Story

Markets

NASDAQ 6,994.76 58.18 0.84%
S&P 500 2,690.16 14.35 0.54%
DJIA 24,792.20 140.46 0.57%
NIKKEI 225 22,901.77 348.55 1.55%
HANG SENG 29,050.41 202.30 0.70%
DAX 13,312.30 208.74 1.59%
USD (per EUR) 1.18 0.00 0.34%
USD (per CHF) 0.99 -0.01 -0.53%
JPY (per USD) 112.56 -0.15 -0.13%
GBP (per USD) 1.34 0.01 0.49%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.