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Latest earnings news
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February 6, 2001: 5:43 p.m. ET
Cisco shocks with miss; Walt Disney tops forecasts; Pacificare healthy
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NEW YORK (CNNfn) - Cisco Systems missed analysts' estimates for the first time in its history when it reported earnings after the bell Tuesday that fell a penny short of the Street.
In other late earnings, health insurer PacifiCare more than doubled estimates while Microstrategy narrowed its loss.
Earlier in the day, Walt Disney posted higher-than-expected earnings in its first quarter, beating the Street's estimates by a penny a share. CVS said its fourth-quarter income rose 18 percent, HCA-Healthcare's fourth-quarter operating earnings rose 25 percent, and Toshiba Corp. trimmed its profit forecasts.
Cisco falls short
Cisco Systems (CSCO: Research, Estimates) shocked the Street when it reported quarterly earnings that fell shy of expectations for the first time ever. (Click here for full story)
PacifiCare passes target
Beleaguered HMO PacifiCare Health Systems Inc. (PHSY: Research, Estimates) more than doubled analysts' expectations and its own earnings guidance with its fourth-quarter results Tuesday. (Click here for full story)
MicroStrategy narrows loss
Business software company MicroStrategy Inc. (MSTR: Research, Estimates) recorded a narrower-than-expected fourth-quarter loss Tuesday, but also announced revenue projection for the coming year below analyst predictions. Excluding certain charges, MicroStrategy lost $24.9 million, or 31 cents per share, compared to a loss of $14 million, or 18 cents per share in the year ago period. Analysts surveyed by First Call expected the company to lose 40 cents per share. (Click here for full story)
Disney tops forecasts
Walt Disney Co. (DIS: Research, Estimates) reported profit topped Wall Street forecasts for the latest quarter as strength in its theme park and movie operations offset weakness at its ABC television network. (Click here for full story)
HCA beats 4Q forecast
HCA (HCA: Research, Estimates), the largest U.S. hospital chain, reported a 25 percent increase in fourth-quarter operating earnings, edging past Wall Street forecasts, but net income slid after factoring in a $95 million charge to settle a federal fraud investigation. (Click here for full story)
CVS income rises 18 percent
CVS Corp. (CVS: Research, Estimates) said its fourth-quarter earnings rose 18 percent to meet Wall Street expectations as strong same-store sales and a push to curb expenses boosted results. The drugstore chain reported net income of 51 cents a share, up from 46 cents a year earlier.
Cox Communications
Cox Communications (COX: Research, Estimates) posted a fourth-quarter loss that was narrower than analysts' forecasts as it accelerated the roll-out of advanced services. The cable-television company reported a loss of 12 cents per diluted share, compared with year-earlier earnings of 18 cents a share. Wall Street had expected a loss of 21 cents a share.
American Standard meets Street
American Standard Cos. Inc. (ASD: Research, Estimates) reported a rise in fourth-quarter earnings, which met Wall Street estimates, on higher air-conditioning system sales. The maker of plumbing, automotive and air-conditioning systems posted earnings of 81 cents per diluted share, before a previously announced charge, compared with 73 cents a share, a year earlier. Analysts expected earnings of 81 cents a share.
Marriott matches estimates
Marriott International (MAR: Research, Estimates) reported a 65.5 percent rise in fourth-quarter earnings, matching analysts' estimates, driven by growth in U.S. lodging operations. The hotel operator reported earnings of 59 cents per share, compared with earnings of 34 cents a share for the same quarter a year ago. Analysts expected earnings of 59 cents per share.
Tenneco Automotive
Tenneco Automotive (TEN: Research, Estimates) posted a fourth-quarter loss that was narrower-than-analysts had expected. The auto parts maker reported a loss before charges of 56 cents a share compared with a year-earlier profit of $1 million or 5 cents a share. In the quarter, Tenneco took a charge of $42 million, or $1.18 a share, for restructuring and other items. Wall Street expected a loss of 61 cents a share.
Toshiba succumbs to economic slump
Toshiba Corp. is the latest high-tech firm to fall prey to the global economic crunch, slashing its profit hopes by 30 percent. The second-ranked Japanese electronics maker cut its 2000-2001 profit outlook Tuesday to ¥96 billion ($820.5 million), and slashed 20 percent off its forecast operating profit to ¥230 billion. (Click here for full story)
-- compiled by Staff Writers Joseph Lee and Alexandra Twin 
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