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Latest earnings news
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January 24, 2001: 4:38 p.m. ET
Exodus narrows loss; E-Trade beats Street; Versign surges past estimates
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NEW YORK (CNNfn) - Exodus Communications narrowed its fourth-quarter loss from improved sales, while optical networking components maker, SDL Inc., slipped past Street estimates by 4 cents.
Corning and Internet security firm, Verisign, bounced ahead of Street estimates for their fiscal fourth quarter, while Exxon-Mobil reported a record-setting quarterly profit.
Pfizer reported a 20 percent gain in its fourth quarter, meeting Wall Street expectations. Lucent Technologies reported a bigger-than-expected loss and announced job cuts Wednesday while DuPont warned the first half of the year will be tough.
Exodus narrows loss
Exodus Communications Inc (EXDS: Research, Estimates) reported a fourth-quarter loss that was narrower than expected as sales at the fast-growing provider of Web and Internet hosting almost doubled. The company said it had a loss before one-time items of $55.8 million, or 13 cents a share, wider than the loss of $48.2 million, or 14 cents a share, it had a year ago. Analysts had forecast a16-cent-a-share loss.(Click here for full story)
SDL slides by estimates
SDL Inc., (SDLI: Research, Estimates) an optical networking components maker, beat Wall Street expectations by 4 cents and announced that its pending merger with JDS Uniphase should close in February. (Click here for full story
E-Trade up on profits
E-Trade Group Inc (EGRP: Research, Estimates)., the No. 2 U.S. Web broker, posted a small first-quarter profit, compared with a year-ago loss, showing it weathered the recent stock market downturn. (Click here for full story)
Corning tops forecast
Corning Inc (GLW: Research, Estimates) reported a fourth-quarter profit that exceeded Wall Street's expectations on sales that rose more than 50 percent from the same period a year earlier. The company reported pro forma earnings of $314.6 million, or 34 cents per share. That compares with the $142.2 million, or 18 cents per share, profit it logged during the same period a year earlier and is 6 cents more than the 28 cents per share analysts had generally expected. (Click here for full story)
Verisign trounces estimates
Internet security firm Verisign (VRSN: Research, Estimates) reported fourth-quarter pro forma earnings of 21 cents per share, nearly doubling analysts' forecasts for 11 cents per share. (Click here for more)
Amgen misses mark
Biotechnology firm Amgen (AMGN: Research, Estimates) announced
fourth-quarter earnings of 24 cents per share that fell a penny shy of Wall Street's expectations. (Click here for more)
Exxon Mobil profit soars
Exxon Mobil (XOM: Research, Estimates), the No. 1 U.S. oil company, said soaring crude oil and natural gas prices fueled a much-better-than-expected 89 percent rise in fourth-quarter income. (Click here for full story)
Lucent reports loss, cuts jobs
Lucent Technologies (LU: Research, Estimates) posted a first-quarter loss of 30 cents a share and said it will cut 10,000 jobs as part of a plan to cut $2 billion in expenses and recover from recent profit shortfalls and product development missteps. (Click here for full story)
Pfizer, Bristol post gains
Pfizer Inc. (PFE: Research, Estimates), the largest U.S. drugmaker, posted a 20 percent increase in fourth-quarter earnings on rising sales of cholesterol treatment Lipitor and other drugs, while Bristol-Myers Squibb Co. reported a 10.5 percent quarterly profit gain. (Click here for full story)
McDonald's misses mark
McDonald's (MCD: Research, Estimates) reported lower fourth-quarter profits, missing Wall Street forecasts by a penny a share. The world's largest restaurant chain said it earned 34 cents a share in the quarter, down from 35 cents a share a year ago. (Click here for full story)
International Paper profits tumble
Profits at International Paper Co. (IP: Research, Estimates), the world's largest paper and forest products company, sank 36 percent in the fourth quarter due to rising energy costs and the slowing U.S. economy. (Click here for full story)
DuPont tops forecasts
DuPont (DD: Research, Estimates) reported fourth-quarter earnings that fell from a year earlier but came in slightly above analysts' forecasts, and warned of continued weakness in the first half of 2001. (Click here for full story)
General Dynamics beats Street
General Dynamics (GD: Research, Estimates), the fourth-largest U.S. defense contractor and top military shipbuilder, posted an 11 percent increase in fourth-quarter earnings per share to beat Wall Street targets on strong sales of Gulfstream executive jets and information technology services. (Click here for full story)
Qwest profit jumps
Telephone and data services company Qwest Communications International (Q: Research, Estimates) posted a 44 percent increase in fourth-quarter profit, above Wall Street estimates, due to robust growth in data and wireless telephone revenue. (Click here for full story)
T-Online loses $116M
T-Online, Europe's largest Internet service provider, said it lost  125 million ($116.5 million) last year even as sales soared. The German company, majority-owned by Deutsche Telekom, blamed the loss on costs of introducing its new flat-rate Internet connection fees, which helped boost revenue by 86 percent last year. (Click here for full story)
Northrop Grumman profits edge higher
Northrop Grumman Corp. (NOC: Research, Estimates), maker of the B-2 bomber and combat radar systems, reported a 4 percent increase in fourth-quarter profits, slightly beating Wall Street forecasts.
Sara Lee meets, sells units
Earnings at Sara Lee Corp. (SLE: Research, Estimates) fell 1 percent in the latest quarter as the slowing economy hurt apparel sales. Sara Lee, whose products range from baked goods to Hanes underwear, earned 42 cents a share, matching forecasts, and said it will divest eight more businesses as it streamlines its holdings, taking a pretax charge of $344 million for the divestitures.
TRW earnings fall
TRW Inc. (TRW: Research, Estimates) earnings excluding one-time items fell sharply as lower truck production and other factors cut into profits. The maker of auto, space and defense products earned 50 cents a share, down from $1.33 a share a year earlier. The results matched forecasts.
Del Webb profit up
Del Webb (WBB: Research, Estimates) said earnings for the latest quarter rose 65 percent to $22.6 million, or $1.20 a share, versus Wall Street forecasts of $1.10 a share. The homebuilder also said it is comfortable with analysts' forecasts for the rest of its fiscal year.
3M reports 4Q net that is nearly flat as expected
Diversified manufacturer Minnesota Mining & Manufacturing Co. (MMM: Research, Estimates) reiterated its fourth-quarter net income was little changed from a year ago. The maker of Post-It Notes and other products released figures confirming last week's forecast of earnings of $1.12 a share.
Compaq beats the Street
After the closing bell Tuesday, Compaq Computer (CPQ: Research, Estimates) reported a fourth-quarter profit that beat the Street's lowered expectations and said it is comfortable with analysts' estimates for earnings growth in 2001. (Click here for full story)
-- from staff and wire reports 
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