Stocks in the news: Procter & Gamble, Motorola, Sprint, Exxon Mobil
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:
- Burger King (BKC) earnings fall, misses Street
- AstraZeneca (AZN) earnings and sales higher, beats estimates on both, guides higher
- Avon (AVP) profit drops 30 percent, hurt by charges, dollar, but beats Street
- AutoNation (AN) posts profit on lower costs, beats by a penny
- Mylan (MYL) posts net loss, but results top Street view
- Kellogg (K) profit rises on strong brand loyalty, beats view