Oneok profit up 9%; ups forecast
(4:58 PM ET) SAN FRANCISCO (MarketWatch) -- Natural gas distributor Oneok /zigman2/quotes/205201756/composite OKE -0.54% late Tuesday reported third-quarter profit rose 9% from the same 2010 period. The company also increased its 2011 earnings forecast. Net income for the recent quarter was $60.3 million, or 57 cents a share, up from $55.3 million, or 51 cents a share. For the full year, the Oklahoma-based company said it expects to earn between $345 million to $365 million. Its old forecast was $325 million to $345 million. Oneok shares closed at $73.76, down 3%, ahead of the report.
Synchronoss earnings jump 67% in third quarter
(4:56 PM ET) SAN FRANCISCO (MarketWatch) -- Synchronoss Technologies, Inc. reported a 67% surge in earnings for the third quarter on growing demand for its transaction management services used by wireless carriers. For the period ended Sept. 30, Synchronoss /zigman2/quotes/203882576/composite SNCR -9.09% reported net income of $3.57 million, or 9 cents a share, compared to net income of $2.14 million, or 5 cents a share, for the same period the previous year. On a non-GAAP basis, the company said it would have earned 23 cents a share for the period. Revenue jumped 33% to $59.2 million. Analysts had been expecting earnings of 21 cents a share on revenue of $58.3 million, according to consensus estimates from FactSet Research.
Pitney Bowes posts profit gain, but warns on sales
(4:39 PM ET) SAN FRANCISCO (MarketWatch) -- Postage meter manufacturer Pitney Bowes Inc. /zigman2/quotes/200721363/composite PBI +1.15% on Tuesday reported a third-quarter profit of $172.8 million, or 85 cents a share, up from $88.9 million, or 43 cents a share a year ago. Adjusted for one-time items, profit from continuing operations came to 56 cents a share. Revenue fell 3% to $1.3 billion. Analysts polled by FactSet Research were looking for earnings, on average, of 54 cents a share with sales of $1.33 billion. "Our revenue performance this quarter reflects the impact of sustained economic uncertainty on most of our global customer base. This weakness is affecting the buying confidence of some of our customers," Chairman and CEO Murray Martin said. The company also warned that its revenue for the year would decline more than it originally forecast.
Sanmina-SCI earnings drop 42%
(4:38 PM ET) SAN FRANCISCO (MarketWatch) -- Sanmina-SCI Corp. /zigman2/quotes/207312436/composite SANM -1.10% on Tuesday reported a fiscal fourth-quarter profit of $18.1 million, or 22 cents a share, on revenue of $1.7 billion, compared with earnings of $31.4 million, or 38 cents a share, on $1.69 billion in sales in the same period a year ago. Excluding one-time items, the electronics contract manufacturer would have earned $38.7 million, or 47 cents a share. Analysts surveyed by FactSet Research had forecast Sanmina-SCI to earn 41 cents a share on $1.66 billion in revenue.
MetroPCS shares drop as earnings fall
(11:01 AM ET) SAN FRANCISCO (MarketWatch) -- MetroPCS Communications Inc.shares on Tuesday fell 61 cents, or more than 7%, to $7.89 after the provider of discount wireless-phone service provider reported quarterly results before the market opened. The company reported a third-quarter profit of $9.3 million, or 19 cents a share, compared to earnings of $77.2 million, or 22 cents a share, in the same period a year ago. Revenue rose 18% to $1.2 billion. However, analysts surveyed by Thomson Reuters had forecast MetroPCS to earn 23 cents a share on sales of $1.22 billion.
Amedisys falls 19% on earnings, execs to leave
(10:46 AM ET) LOS ANGELES (MarketWatch) -- An extensive write-down reported in its third-quarter earnings, and the announcement that two key executives are leaving, sent shares of home health care company Amedisys Inc. /zigman2/quotes/207929745/composite AMED -1.48% plunging by more than 19% at one point Tuesday. The company said it would take a non-cash goodwill charge of $574.1 million due to a decline in market capitalization, earnings results and recent forecasts, and added it won't be able to fully measure the fair value of the goodwill until the fourth quarter. Amedisys lost $423.7 million for the period, or $14.73 a share, and had reported earnings of $21.6 million, or 76 cents a share, for the same period a year ago. Sales were $374.9 million against last year's $404.7 million. The company said Chief Operating Officer Mike Snow would be leaving, and Chief Financial Officer Dale Redman will move to the role of executive vice president and treasurer until he retires in 2012.
Valero shares steady despite energy sector drop
(10:30 AM ET) NEW YORK (MarketWatch) -- Valero Energy Corp. /zigman2/quotes/200735463/composite VLO +3.92% fell 0.8% to $24.37, despite deeper losses in the energy sector on Tuesday. The refiner said its third-quarter profit quadrupled to $1.2 billion, or $2.11 a share, from $303 million, or 53 cents a share, in the year-ago period. Revenue increased to $33.7 billion, from $21 billion. "We were able to capitalize on favorable refining margins and attain our highest refinery utilization since the third quarter of 2007," the company said. Wall Street analysts expected Valero to earn $1.80 a share, according to a survey by FactSet Research.
American Tower lifts outlook; shares rise
(10:23 AM ET) WASHINGTON (MarketWatch) -- Shares of American Tower Corp. /zigman2/quotes/200890312/composite AMT -0.36% rose more than 2% Tuesday, coming close to a 52-week high, after the cell-tower operator raised its financial outlook for the year. The Boston-based company said earnings before interest, taxes, depreciation, and amortization will now be about $20 million higher than originally expected for 2011, totaling about $1.59 billion. Analysts surveyed by FactSet Research were looking for Ebitda of $1.57 billion. The company added it was on track to convert to a real estate investment trust entity by Jan. 1. Shares of American Tower climbed as high as $56.98 on Tuesday, coming close to its full-year high of $57.28. The stock was one of the few gainers, with the benchmark Standard & Poor's 500 Index /zigman2/quotes/210599714/realtime SPX -0.72% off 2%.