NEW YORK – Among the companies whose shares are expected to see active trade in Wednesday's session are Altria Group Inc., Intel Corp., Yahoo Inc., J.P. Morgan Chase & Co. and Bank of America Corp.
Abbott Laboratories (ABT) is expected to report third-quarter earnings of 58 cents a share, according to analysts polled by Thomson First Call.
Altria Group (MO) is seen posting a third-quarter profit of $1.33 a share.
AMR Corp.'s (AMR) third quarter is expected to show a per-share loss of 55 cents.
Bank of America Corp. (BAC) is expected to report earnings of $1.02 a share in its third quarter.
Eastman Kodak Co.'s (EK) third quarter is expected to show a profit of 66 cents a share.
EBay Inc. (EBAY) is seen posting a third-quarter per-share profit of 20 cents.
EMC Corp.'s (EMC) third quarter is expected to show a 12 cent profit.
Honeywell International Inc. (HON) is expected to report third-quarter earnings of 53 cents a share.
J.P. Morgan Chase & Co (JPM) is seen posting third-quarter per-share earnings of 72 cents.
New York Times Co. (NYT) is expected to report a profit of 17 cents a share in its third-quarter.
Office Depot Inc.'s (ODP) third quarter is seen showing a profit of 35 cents a share.
SBC Communications Inc. (SBC) is seen posting earnings of 41 cents a share in its third quarter.
After Tuesday's closing bell, Intel Corp. (INTC) reported third-quarter profit rose 5% on surging sales of its chips used to run laptop computers, but its bottom line lagged Wall Street estimates and its shares fell after the results were released.
Cheesecake Factory Inc. (CAKE) reported third-quarter net earnings of $21.9 million, or 27 cents a share, vs. $12.4 million, or 16 cents a share, during the same period a year ago. The Calabasas Hills, Calif.-based restaurant chain posted revenue of $292.8 million vs. $247.7 million.
Constellation Brands Inc. (STZ) said it's commencing a cash takeover bid for Canada-based vintner Vincor International Inc. (VN) at C$31 a share ($26.45). The unsolicited offer values the company at a 39% premium to Vincor's closing share price on Sept. 8, the day Constellation proposed its bid in the first place. Vincor rejected the bid, saying it does not represent "fair and full value" for the company.
Continental Airlines Inc. (CAL) reported what will likely be a rare third-quarter profit for the airline industry.
C.R. Bard (BCR) reported third-quarter net income of $83.6 million, or 77 cents a share, compared with $68.6 million, or 64 cents a share, for the same period a year ago. Sales rose 5% to $443.3 million vs. last year's $421.9 million. The company's earnings were 3 cents ahead of the forecast from analysts polled by Thomson First Call.
Cymer Inc. (CYMI) reported third fiscal quarter profits that fell 18% from the same period last year. Revenue for the period was $99.7 million compared to $107.1 million last year. San Diego-based Cymer posted profits of $12.7 million, or 35 cents a share, compared to profits of $15.4 million, or 41 cents a share, for last year. The results beat the consensus estimates of analysts, who were expecting the supplier of lasers used in semiconductor manufacturing to post a profit of 20 cents a share on revenue of $95.5 million, according to Thomson First Call.
Dana Corp. (DCN) , slashed its quarterly dividend and said its net income since 2004 will be reduced by as much as $45 million after tax.
Gilead Sciences Inc. (GILD) reported dramatically improved third-quarter earnings, due largely to strong sales of its HIV drug Truvada.
Linear Technology Corp. (LLTC) reported first-quarter net earnings of $99.1 million, or 31 cents a share, down 4.2% from $103.5 million, or 33 cents a share, in the year-ago period. On a pro forma basis, the company reported earnings of 35 cents a share, compared with 33 cents a share last year. Revenue at the Milpitas, Calif.-based manufacturer of linear integrated circuits rose to $256 million from $253 million last year. Analysts polled by Thomson First Call had estimated earnings at 33 cents a share on revenue of $257 million.
Kraft Foods Inc. (KFT) said it made $674 million, or 40 cents a share, in the third quarter, compared with $779 million, or 46 cents a share, a year ago.
Mentor Corp. (MNT) said it expects second-quarter earnings in a range of 24 cents to 25 cents a share on revenue of $112 million to $115 million. The Santa Barbara, Calif.-based medical products supplier also reaffirmed its fiscal year 2006 earnings forecast of $1.60 to $1.65 a share on sales growth in the low double-digits from $483.4 million in 2005. Mentor said separately that it is evaluating strategic alternatives for its urology business as it increases its focus on aesthetic medicine.
Motorola Inc. (MOT) said third-quarter net profit more than tripled, as the technology bellwether benefited from higher wireless-phone sales, a onetime tax benefit and the sale of an investment.
Palm Harbor Homes Inc. (PHHM) reported second-quarter net earnings of $1.01 million, or 4 cents a share. During the same period a year ago, the company reported a net loss of $2.2 million, or 10 cents a share. The Addison, Texas-based manufacturer of factory-built homes posted revenue of $171 million vs. $150.5 million. Analysts surveyed by Thomson First Call had forecast second-quarter earnings of 10 cents a share.
Royal Bank of Canada (RY) (RY) said it plans to establish a litigation reserve of $500 million, to be recorded in the fourth quarter, in connection with matters related to Enron. The charge amounts to $255 million after taxes. The bank said it is a defendant in a number of pending Enron-related actions.
Ryland Group Inc. (RYL) said third-quarter profit easily topped analyst expectations, and raised its earnings outlook for 2005.
Sovereign Bancorp (SOV) said third-quarter profit more than doubled as commercial loan growth and fee income rose.
Stryker Corp. (SYK) reported third-quarter net income of $132.1 million, or 32 cents a share, compared with $14.4 million, or 4 cents a share, for the same period in 2004. Sales rose 13.9% to $1.17 billion from last year's $1.03 billion. Excluding a one-time charge for income taxes due to repatriation of foreign earnings, the company would have earned 40 cents a share. That was a penny under the forecast from analysts polled by Thomson First Call.
Teradyne Inc. (TER) reported a third-quarter net loss of $35.4 million, or 18 cents a share. In the same period a year ago, the company reported net earnings of $41.1 million, or 21 cents a share. Teradyne reported pro forma earnings of 9 cents a share. Revenue at the Boston-based company fell to $386.7 million from $457.8 million last year. Analysts polled by Thomson First Call had estimated a loss of a penny a share on revenue of $367 million.
Yahoo Inc. (YHOO) reported third-quarter profit that was nearly unchanged from a year ago, when results were helped by one-time gains, as higher product development costs offset a surge in revenue from online advertising and Internet services.