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Latest earnings roundup
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October 20, 2000: 1:13 p.m. ET
Merck, Coca-Cola top estimates; Loews loss widens; Ericsson cautions on year
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NEW YORK (CNNfn) - Merck & Co. reported third-quarter earnings that beat Wall Street forecasts Friday, while Coca-Cola edged past estimates.
Meanwhile, mobile phone company Ericsson warned about profits due to a crimp in sales at its cell-phone handset unit.
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Merck beats forecast
Merck & Co., the second largest U.S. drug maker, posted a 19 percent jump in third-quarter profit, beating analysts' expectations, as sales of new painkiller Vioxx and other medicines soared. [Click here for more]
Coke edges past target
Coca-Cola Co. (KO: Research, Estimates) said profit rose sharply in the third quarter, edging past Wall Street forecasts. The world's largest soft drink maker earned 42 cents a share excluding special items, above the 41 cent a share forecast of analysts surveyed by First Call, which tracks profit forecasts. [Click here for more]
Ericsson cautions on profit
AB Ericsson (ERICY: Research, Estimates), the world's leading maker of equipment for mobile-phone networks, lowered its profit forecast for the year to reflect a deepening loss at its cell-phone handset unit, even as gains elsewhere fueled an 11 percent increase in profits. [Click here for more]
Tribune profits fall 33%
Tribune Co., owner of the Chicago Tribune and Los Angeles Times newspapers, reported a 33 percent drop in third-quarter profit, though the results topped analysts' lowered forecasts due to strong results from its broadcasting and interactive media businesses. [Click here for more]
Loews registers loss in 2Q
Loews Cineplex Entertainment Corp. lost $55.5 million in its fiscal second quarter due to heavy competition and falling movie attendance. The loss amounted to 95 cents per share in the latest quarter, compared with earnings of $15.9 million, or 27 cents a share, in the year-ago period. 
-- Compiled by Tanya Helenius from staff and wire reports
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