US Airways posts above-consensus adjusted profit
(8:30 AM ET) WASHINGTON (MarketWatch) -- US Airways Groupreported a third-quarter net profit of $245 million, or $1.24 a share, up from $76 million, or 41 cents, earned in the same period during 2011. Quarterly revenue generated by the Tempe, Ariz.-based carrier reached $3.53 bilion from the prior year's $3.44 billion, as mainline revenue rose 2.8%. On an adjusted basis, the results showed, US Airways would have turned in a profit of 98 cents a share. The consensus of analysts surveyed by FactSet Research had been for the company to show a profit of 92 cents a share and revenue of $3.55 billion. "Looking forward, the revenue environment remains strong," said Doug Parker, chairman and chief executive of US Airways, in the earnings release. Shares gained more than 3% in the premarket.
Dr Pepper Snapple profit up 16%
(8:28 AM ET) NEW YORK (MarketWatch) -- Dr Pepper Snapple Group Inc.said Wednesday its third-quarter profit rose to $179 million, or 84 cents a share, from $154 million, or 71 cents a share, in the year-ago period. Adjusted earnings rose to 79 cents a share from 74 cents a share. Sales remained about flat at $1.53 billion. Wall Street analysts expected the company to earn 77 cents a share on sales of $1.56 billion, according to a survey by FactSet. Dr Pepper Snapple Group expects adjusted 2012 earnings of $2.90 to $2.98 a share. Analysts estimated 2012 earnings of $2.96 a share.
Kimberly-Clark profit rises 20%, lifts view
(8:11 AM ET) NEW YORK (MarketWatch) -- Kimberly-Clark /zigman2/quotes/201766540/composite KMB -0.34% said Wednesday its third-quarter profit increased 20% to $517 million, or $1.30 a share, from $432 million, or $1.09 a share, in the year-ago period. Adjusted profit rose to $1.34 a share from $1.26 a share. Sales fell 2.5% to $5.25 billion. Wall Street analysts expected the household products company to earn $1.32 a share on revenue of $5.34 billion, according to a survey by FactSet. Kimberly-Clark sees adjusted 2012 profit of $5.15 to $5.25 a share, up from its earlier estimate of $5.05 to $5.25 a share. Analyst had estimated 2012 earnings of $5.19 a share.
AT&T Q3 net and revenue about flat with year ago
(8:09 AM ET) TEL AVIV (MarketWatch) -- AT&T Inc., /zigman2/quotes/203165245/composite T -0.85% the Dallas telecom major, reported that third- quarter net income and revenue were about flat with the year-earlier period. Profit edged up to $3.64 billion, or 63 cents a share, from $3.62 billion, or 61 cents, in the year-earlier quarter. Adjusted profit was 62 cents a share against 59 cents. Revenue slipped to $31.46 billion from $31.48 billion. A survey of analysts by FactSet Research produced consensus estimates of 60 cents a share of profit on $31.57 billion of revenue. In a Wednesday statement, AT&T said that its wireless business was strong, with 4.7 million Apple /zigman2/quotes/202934861/composite AAPL +0.15% iPhones activated and sales of Android /zigman2/quotes/205453964/composite GOOG -0.97% and Windows /zigman2/quotes/207732364/composite MSFT -0.55% smartphones posting a record quarter. Average revenue per user for postpaid wireless subscribers rose 2.4% to $65.20.
Bristol-Myers has quarterly loss, revises outlook
(7:52 AM ET) WASHINGTON (MarketWatch) -- Bristol-Myers Squibb Co. /zigman2/quotes/202559280/composite BMY -0.41% updated its 2012 profit forecast as the drug manufacturer reported a third-quarter net loss of $711 million, or 43 cents a share, a reversal from its profit of $969 million, or 56 cents, in the year-earlier period. Quarterly sales fell to $3.74 billion from the prior year's $5.35 billion. On an adjusted basis, the company would have turned in a profit of 41 cents a share for the latest quarter, down from 61 cents earned in the 2011 third quarter. The consensus of analysts polled by FactSet Research had been for earnings of 42 cents a share on revenue of $4 billion. The company cited U.S. patent expirations as a key factor behind the lower sales. As for 2012, Bristol-Myers Squibb now sees adjusted earnings toward the upper end of its previously established range of $1.90 to $2 a share.
Boeing profit down; 2012 view beats estimate
(7:50 AM ET) NEW YORK (MarketWatch) -- Boeing Co. /zigman2/quotes/208579720/composite BA -2.22% said Wednesday its third-quarter profit fell 6% to $1.03 billion, or $1.35 a share, from $1.1 billion, or $1.46 a share, in the year-ago period. Higher pension expenses impacted the latest quarter by 18 cents a share. Revenue at the aerospace firm rose 13% to $20 billion from $17.73 billion. Wall Street analysts expected Boeing to earn $1.12 a share on revenue of $20.07 billion, according to a survey by FactSet. Looking ahead, Boeing expects 2012 earnings of $4.80 and $4.95 a share. Wall Street analysts have estimated 2012 earnings of $4.72 a share for Boeing.
Corning profit rises
(7:28 AM ET) NEW YORK (MarketWatch) -- Corning Inc. /zigman2/quotes/200045496/composite GLW +0.10% said on Wednesday that it earned $521 million, or 35 cents a share in the third quarter, compared to $462 million, or 30 cents a share a year ago. Sales in the quarter rose to $2.04 billion, from $1.91 billion a year ago. Analysts polled by FactSet Research had expected the glass company to earn 32 cents a share on revenue of $2.02 billion.
EMC earns 40 cents a share in Q3, misses estimates
(7:26 AM ET) LONDON (MarketWatch) -- EMC Corp.on Wednesday reported a 3% rise in net profit in third quarter to $626 million, or 28 cents per share, from $606 million, or 27 cents a share in the year-ago-period. Adjusted earnings rose 7% to $881 million, or 40 cents a share, up from $823 million, or 37 cents a share. Revenue came in at $5.28 billion, a 6% increase compared to the same quarter last year. Analysts surveyed by FactSet expected earnings of 42 cents a share on revenue of $5.46 billion. The Hopkinton, Mass.-based tech company said it expects revenues for the full year to be between $21.60 billion and $21.75 billion, while net income is expected to come in between $2.72 billion and $2.77 billion.
General Dynamics profit falls by $52 million
(7:24 AM ET) NEW YORK (MarketWatch) -- General Dynamics Inc. /zigman2/quotes/208560027/composite GD -1.06% said Wednesday its third-quarter net earnings fell to $600 million, or $1.70 a share, from $652 million, or $1.80 a share, in the year-ago period. Revenue dipped to $7.85 billion from $7.93 billion. "Demand in the quarter was particularly strong for aerospace products, including orders for every type of Gulfstream aircraft," the company said. Wall Street analysts expected General Dynamics to earn $1.78 a share on sales of $8.03 billion, according to a survey by FactSet.
Lorillard profit rises
(7:19 AM ET) NEW YORK (MarketWatch) -- Lorillard Inc.said on Wednesday that its third-quarter profit rose to $283 million, or $2.16 a share, from $267 million, or $1.94 a share a year ago. Revenue rose to $1.66 billion, from $1.62 billion a year ago. Analysts polled by FactSet Research had expected the company to earn $2.23 a share on revenue of $2 billion.
Eli Lilly Q3 net up 7.3%, revenue off 11%
(7:13 AM ET) TEL AVIV (MarketWatch) - Eli Lilly & Co., /zigman2/quotes/200106384/composite LLY -0.75% the Indianapolis health-care major, reported third-quarter net income rose 7.3% on 11% lower revenue. Earnings reached $1.33 billion, or $1.18 a share, from $1.24 billion, or $1.11, in the year-earlier quarter. Adjusted earnings were 79 cents versus $1.13. Revenue fell to $5.44 billion from $6.15 billion. A survey of analysts by FactSet Research produced consensus estimates of profit of 84 cents a share on revenue of $5.63 billion. For full-year 2012, Lilly now expects to earn $3.68 to $3.78 a share compared with $3.90 in 2011. On an adjusted basis, Lilly expects to earn $3.30 to $3.40. Lilly affirmed its revenue estimate of $21.8 billion to $22.8 billion. FactSet's survey is looking for profit of $3.39 a share on revenue of $22.71 billion for the year.
Thermo Fisher Q3 net up 9.4%; year outlook lifted
(6:48 AM ET) TEL AVIV (MarketWatch) -- Thermo Fisher Scientific Inc., /zigman2/quotes/201150432/composite TMO +1.17% the Waltham, Mass., provider of science services to pharma and biotech, hospitals and diagnostic labs, reported that third-quarter net income rose 9.4% as revenue increased 5.2%. Earnings reached $290.4 million,or 79 cents a share, from $265.4 million, or 69 cents, in the year- earlier quarter. The latest adjusted profit for the quarter was $1.19. Revenue climbed to $3.09 billion from $2.93 billion. A survey of analysts by FactSet Research produced consensus estimates of profit of $1.16 a share on revenue of $2.99 billion. Thermo Fisher increased its estimates of full-year earnings. The company now expects to earn an adjusted $4.81 to $4.88, an increase of 16% to 17% from 2011. Revenue should rise to a range of $12.32 billion to $12.4 billion, 7% growth year over year. The FactSet survey for 2012 is estimating $4.82 of profit and $12.27 billion of revenue.
Facebook upgraded to buy by Citi, shares surge
(6:45 AM ET) LONDON (MarketWatch) -- Facebook Inc. /zigman2/quotes/205064656/composite FB -0.56% shares jumped almost 13% to $22.01 in premarket trades Wednesday after Citi Research upgraded the stock to buy, praising the social network's quarterly report from a day earlier. "What investors have for the first time since the FB IPO is fundamentals acceleration with a reasonable valuation," analyst Mark Mahaney wrote in a note to clients. Facebook on Tuesday reported a surge in advertising revenue as well as an increase in mobile monthly active users.
Praxair posts profit gain, sees near-term weakness
(6:24 AM ET) LONDON (MarketWatch) -- Praxairon Wednesday reported a third-quarter profit of $430 million, or $1.43 a share, up from $429 million, or $1.40 a share, a year earlier. Adjusting for one-time items, earnings came in at $1.39 a share. Sales dipped to $2.77 billion, from $2.90 billion. Analysts polled by FactSet Research were looking for earnings, on average, of $1.39 a share on sales of $2.83 billion. "While we are expecting that macro-economic conditions overall may continue to weaken in the near-term," said Chairman and CEO Steve Angel, "we will continue to drive long-term growth through our strategy of focusing on energy, environmental and emerging markets opportunities."
Yelp to post Q3 loss, acquires Qype review site
(4:06 AM ET) TEL AVIV (MarketWatch) -- Yelp Inc., /zigman2/quotes/201334325/composite YELP -4.10% the San Francisco provider of online local reviews, on Wednesday said that it would post about a $2 million third-quarter loss and that it paid about $50 million for Qype, a European local-reviews website. Yelp also estimated the quarter's revenue at $36.4 million. A survey of analysts by FactSet Research produced consensus estimates for the quarter of a loss of $2.2 million on revenue of $35.7 million. In a statement, Yelp said that it paid €18.6 million cash plus 970,000 of its shares for Qype, which is headquartered in Germany. The deal will "accelerate Yelp's international expansion, bringing more than two million reviews and 50 million unique visitors per month across 13 countries," Yelp said in its statement.
Europe stocks inch higher, led by SAP; Volvo sinks
(3:18 AM ET) MADRID (MarketWatch) -- European stocks moved cautiously higher on Wednesday, as investors sought to recover from a bruising prior-day session. The Dow industrials /zigman2/quotes/210598065/realtime DJIA -0.42% suffered the worst single-day loss in four months on Tuesday. Helping drive positive momentum on Wednesday were well-received earnings from SAP AG /zigman2/quotes/203458330/delayed DE:SAP -0.23% /zigman2/quotes/207905606/composite SAP -0.43% , as those shares rose 3.2%. On the downside, shares of Heineken NV /zigman2/quotes/205347870/delayed NL:HEIA -2.04% fell 2.7% on the brewer's results, while Volvo AB /zigman2/quotes/208939564/delayed SE:VOLV.B -0.73% dropped over 7% on its results. The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -0.45% rose 0.3% to 269.21, while the German DAX 30 index /zigman2/quotes/210597999/delayed DX:DAX -0.61% rose 0.4% to 7,204.37. The French CAC 40 index /zigman2/quotes/210597958/delayed FR:PX1 -0.32% rose 0.7% to 3,428.54 and the FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -0.65% rose 0.2% to 5,809.43.