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Latest earnings roundup
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October 18, 2000: 9:42 p.m. ET
Raytheon, SUNW, AOL, Broadcom beat Street; Apple, Chase miss; Ariba breaks even
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NEW YORK (CNNfn) - Earnings reports continued to fuel Wall Street Wednesday as quarterly numbers were released by MedImmune, Apple, Raytheon, Texas Instruments, Sun Microsystems, AOL, Microsoft, Kodak, Chase Manhattan, Ford, Time Warner and Boeing.
Click here to see how the Dow 30 have fared this quarter.
MedImmune beats estimates
Biotechnology company MedImmune (MEDI: Research, Estimates) said Wednesday its third quarter earnings rose, beating analysts' estimates by a penny, boosted by sales of its flagship product Synagis. MedImmune posted net earnings of $5.9 million, or 3 cents a share, compared to $2.8 million, or 1 cent a share in the third quarter of 1999. Analysts had forecast a profit of 2 cents a share, according to earnings tracker First Call/Thomson Financial. Revenues rose to $57.4 million from $55.7 million in the year-earlier quarter.
Apple misses mark
Apple Computer Inc. posted a weaker-than-expected fiscal fourth-quarter profit Wednesday and warned investors that the current quarter's results will be substantially below Wall Street's expectations.(Click here for full story)
Raytheon posts profit
Raytheon Co., the No. 3 U.S. defense contractor, said Wednesday it posted a third-quarter profit, meeting Wall Street estimates after generating a loss a year ago.(Click here for full story)
Sun surpasses forecasts
Sun Microsystems reported a fiscal first-quarter profit Wednesday that beat Wall Street's expectations on sales that rose 60 percent from the year-earlier period.(Click here for full story)
Texas Instruments matches estimates
Texas Instruments Inc. Wednesday unveiled a third-quarter operating profit that matched Wall Street's forecasts, a profit fueled by strong demand for its chips used to power wireless devices and high-speed Internet devices.(Click here for full story)
AOL tops Street
America Online reported a profit, excluding special items, of $350 million, or 14 cents a share, compared with $182 million, or 7 cents a share, in the same period one year ago. Analysts surveyed by First Call had expected a profit of 13 cents a share. (Click here for full story.)
Cendant profits up in 3Q
Cendant announced Wednesday that third-quarter profit rose 6 percent as it slashed costs and income from its relocation, and mortgage loan businesses climbed.The real estate, hotel and car rental franchiser, which holds franchises for the Ramada and Travelodge hotel chains, said net income was $214 million, or 29 cents per diluted share, from $202 million, or 26 cents a diluted share, a year earlier.
Ariba breaks even
E-business software maker Ariba Inc. reported improved revenues helped it beat Wall Street's fourth-quarter expectations.(Click here for full story)
Extreme Networks wobbles after beating forecasts
Extreme Networks, a maker of Internet router and switch equipment, reported Wednesday record profit for its fiscal first quarter, but saw its stock plunge after-hours before stabilizing.(Click here for full story)
Broadcom beats estimates
High-speed communications semiconductor maker Broadcom Corp. on Wednesday reported better-than-expected third-quarter earnings, on strong revenue growth fueled by high-speed Internet access demand.(Click here for full story)
PeopleSoft jumps on positive report
Shares of PeopleSoft soared 23 percent Wednesday after the business management software provider turned in third-quarter earnings that beat Wall Street expectations.(Click here for full story)
TRW 3Q earnings dip
Automotive parts and aerospace products maker TRW Inc. reported a 37 percent slide in third-quarter earnings Wednesday, citing a weak euro and reduced output from Ford Motor Co. linked to the Firestone tire recall.(Click here for full story)
Microsoft beats Street
Microsoft reported first quarter earnings of 46 cents a share before one-time items, compared with Wall Street expectations of 41 cents. Revenues were $5.80 billion compared with $5.38 billion. (Click here for full story.)
Chase profits tumble; J.P. Morgan tops forecasts
Chase Manhattan Corp. reported lower third-quarter profit that missed Wall Street forecasts due to weakness in its investment banking and other operations. J.P. Morgan reported third-quarter profits of $514 million, or $2.77 a share, easily topping Wall Street forecasts of $2.63 a share and the $442 million, or $2.22 a share, it earned a year earlier. [click here for more]
Ford off but beats Street
Ford Motor Co. said earnings fell 7 percent in the third quarter, mainly because of Bridgestone/Firestone's recall of 6.5 million tires, most of which were installed on Ford vehicles. But the results still came in ahead of Wall Street forecasts. [click here for more]
Kodak 3Q earnings off 8%
Eastman Kodak Co. posted an 8 percent decline in third-quarter earnings, excluding one-time items, but still managed to top analysts' forecasts for the period. [click here for more]
EMC 3Q profit jumps 55%
EMC Corp., the nation's largest maker of data storage equipment, said Wednesday third-quarter earnings rose 55 percent, beating estimates, on strong demand for its software and refrigerator-sized machines that manage and store information. [click here for more]
Boeing flies high
Boeing Co. reported better-than-expected third-quarter earnings despite a nearly 11 percent decrease in revenue. The world's largest aircraft maker said profits rose to 72 cents a share, above analysts' forecasts of 67 cents a share and 55 cents a share a year earlier. [click here for more]
IP bests Street, sets job cuts
International Paper reported third-quarter profits of 53 cents a share excluding one-time items, a penny above Wall Street forecasts, and said it will cut 2,500 jobs as it closes three mills to cut production. [click here for more]
Elevators, engines boost United Tech
United Technologies Corp. reported a 14 percent increase in profits, boosted by strong showings in its elevator and aircraft-engine businesses. Earnings of 98 cents a share topped analysts' average estimates by 2 cents. [click here for more]
STMicro: chip profit triples
STMicroelectronics said third-quarter profit tripled, beating expectations, as it shipped more chips to meet ballooning demand for processors used in digital TV set-top boxes and mobile phones. [click here for more]
Time Warner powers forward
Time Warner, the parent company of CNNfn, said third-quarter operating earnings grew 13 percent, beating Wall Street estimates, helped by strong earnings from its publishing unit amid advertising growth. The company reported earnings of $1.27 billion, or 7 cents a share, excluding one-time items, compared with analysts' expectations of 4 cents a share. [click here for more]
US Airways loses $30 million in 3Q
US Airways Group, the nation's sixth-largest airline, said it lost $30 million in the third quarter, more than expected, amid tough competition and fuel costs 75 percent higher than a year earlier. [click here for more]
Occidental profits rise on sales boost
Energy producer Occidental Petroleum posted third-quarter net profits more than triple year-ago results as sales spiked from last year's results. Wall Street analysts on average predicted Occidental to earn $1.01 per share.
Whirlpool beats lowered forecasts
Whirlpool Corp., the world's largest home appliance maker, reported earnings that beat lowered Wall Street forecasts of 96 cents a share. The company reported third-quarter net earnings of $67 million, or 98 cents per diluted share, compared with $107 million, or $1.40 per diluted share, a year ago.
Nabisco profits up 33%
Nabisco Holdings Corp., the nation's biggest cookie and cracker maker, said its third-quarter operating earnings climbed 33 percent, easily beating Wall Street forecasts, boosted by strong gains in sales and market share. [click here for more]
Rambus' record profit tops forecasts
Rambus Inc. (RMBS: Research, Estimates), which makes technology to speed the performance of computer chips, beat profit forecasts as it earned a record $10.2 million, or 9 cents a diluted share, in its fourth quarter. Analysts were looking for 6 cents a share in profits from the firm, up from 3 cents a share a year earlier.
Vitesse tops 4Q forecasts
Semiconductor firm Vitesse Semiconductor Corp. (VTSS: Research, Estimates) earned $40.3 million or 21 cents a diluted share, in its fiscal fourth quarter, excluding special items. That topped both the First Call forecast of 19 cents a share for the period, as well as the $19.6 million or 11 cents a share in the year earlier quarter.
Akamai loss smaller than expected
Internet infrastructure firm Akamai Technologies Inc. (AKAM: Research, Estimates) posted a smaller than expected loss in the third quarter. The company lost $55.7 million, or 60 cents a share, before special items, compared with the forecast for a loss of 68 cents a share. 
-- compiled from staff and wire reports
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