NEW YORK (CNNmoney) - UAL, the parent of United Airlines, saw its shares fell nearly 10 percent on Wednesday, hurt by word from its chief executive that the carrier will go out of business sometime next year if it cannot soon stem the losses that have worsened dramatically since Sept. 11.
Ford Motor stock also fell after the world's second-largest automaker reported its second straight quarterly loss. Ford's chief financial officer said he expected his company to lose money in the fourth quarter as well.
And International Paper, the world's largest forest products company, reported a sharp drop in profits and warned of ongoing weakness as the industry cuts output amid low prices and soft demand.
Wednesday's losers
International Paper (IP: down $1.28 to $36.32, Research, Estimates). The world's largest forest products company said third-quarter earnings fell 74 percent due to low prices, a strong dollar and lagging demand, but the decline was much less than what Wall Street had initially feared.
UAL (UAL: down $1.79 to $16.85, Research, Estimates). The CEO of the parent of United Airlines warned that the carrier could go out of business sometime next year if it cannot stanch losses from the Sept. 11 attacks, according to a published report.
Ford Motor (F: down $0.55 to $17.13, Research, Estimates). The automaker posted a third-quarter loss in line with lowered expectations, citing a drop in auto sales and the costs of new incentives to buyers.
i2 Technologies (ITWO: down $1.40 to $4.29, Research, Estimates). The business-to-business software company posted a $5.53 billion third-quarter net loss amid falling revenue.
Oakley (OO: down $2.31 to $11.80, Research, Estimates). The sunglasses maker said third-quarter net income fell 17 percent and warned that its fourth-quarter results will be below expectations.
Dana (DCN: down $3.26 to $11.30, Research, Estimates). The automotive parts maker reported an operating loss for the third quarter and said it would cut an additional 15 percent of its work force, or more than 11,000 jobs.
Pixelworks (PXLW: down $3.93 to $10.20, Research, Estimates). The provider of system-on-a-chip integrated circuits for the advanced display market reported on Tuesday a net loss for the third quarter compared with a profit a year earlier.
Eli Lilly (LLY: down $4.00 to $75.00, Research, Estimates). A U.S. advisory panel was split Tuesday about whether to recommend approval of the pharmaceutical company's Xigris drug for sepsis, a condition that kills about 215,000 Americans each year after they suffer a severe bacterial infection.
EMC (EMC: down $2.24 to $11.21, Research, Estimates). The data storage company reported a third-quarter net loss that approached $1 billion - its first quarterly loss in a dozen years - as it battles stiffer competition and a global downturn in spending for devices that store e-mail, bank transactions and airline data.
Digital Lightwave (DIGL: down $1.56 to $6.86, Research, Estimates). The optical networking equipment company on Tuesday reported a third-quarter loss in line with the company's guidance, but wider than analyst expectations, on continued weakness in the telecommunications sector.
AOL Time Warner (AOL: down $2.69 to $30.81, Research, Estimates). The media company, parent of CNNmoney, reported higher third-quarter earnings excluding certain costs as growth in its Internet service and cable operations helped offset a slump in the advertising market. Its net loss widened.
RF Micro Devices (RFMD: down $5.93 to $18.49, Research, Estimates). The maker of equipment for wireless communications products said net income fell sharply to $1.5 million, or 1 cent a diluted share.
Merrill Lynch (MER: down $0.96 to $44.23, Research, Estimates). The world's biggest brokerage may cut as many as 10,000 more jobs, or 15 percent of its work force, according to a Wall Street Journal report.
Wednesday's winners
Capital One (COF: up $4.76 to $47.89, Research, Estimates). Prudential upgraded the credit card issuer to "buy" from "hold" one day after the company said quarterly earnings rose 35 percent.
Hydrogenics (HYGS: up $2.03 to $4.60, Research, Estimates). The alternative fuel systems company and General Motors announced a strategic alliance to accelerate the development of fuel cell technology. As part of the agreement, GM will acquire more than 11 million, or about 24 percent, of Hydrogenics' shares.
Charles Schwab (SCH: up $0.15 to $12.25, Research, Estimates). Bear Stearns upgraded the discount broker to "buy" from "attractive."
Paradyne Networks (PDYN: up $1.30 to $3.42, Research, Estimates). The maker of communications equipment said pro-forma third-quarter profit rose to $1.6 million, or 5 cents per share, after posting a loss in the year-earlier period.
DigitalThink (DTHK: up $1.23 to $9.00, Research, Estimates). The business education company said it remains on target to become profitable in the fourth quarter.
Alcatel (ALA: up $1.02 to $14.70, Research, Estimates). Chunghwa Telecom, a Taiwanese telecommunications operator, awarded the French telecom company two contracts worth about $58 million to further develop Chunghwa's network and services.
CEC Entertainment (CEC: up $2.48 to $37.40, Research, Estimates). The pizza chain operator said third-quarter earnings rose nearly 6 percent, led by growth in sales at restaurants open at least one year.
State Street (STT: up $1.53 to $44.21, Research, Estimates). The financial services company said quarterly profit rose 13 percent as increased business boosted servicing fees.
IBM (IBM: up $1.05 to $102.90, Research, Estimates). The tech bellwether on Tuesday logged a third-quarter profit that beat analysts' estimates on slightly weaker-than-expected revenue. At the same time, company executives said they expect to meet Wall Street's estimates for the fourth quarter.
Cadence Design Systems (CDN: up $1.40 to $20.00, Research, Estimates). The supplier of electronic design products and services said third-quarter net income before certain items rose more than 50 percent.
Internet Security Systems (ISSX: up $0.34 to $21.85, Research, Estimates). The provider of network security to corporations posted profit that topped forecasts.
FileNet (FILE: up $3.32 to $13.37, Research, Estimates). The document-management software firm posted narrower-than-expected losses.
Citigroup (C: up $0.47 to $46.56, Research, Estimates). The financial services company said profit fell to $3.3 billion, or 63 cents a share, matching forecasts.
-- from staff and wire reports 
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