NEW YORK (CNN/Money) - IBM Wednesday said its third-quarter profit from continuing operations was 99 cents a share, beating most analysts' expectations. At $19.8 billion, IBM's third-quarter revenue was flat with the year-ago quarter.

Advanced Micro Devices said its third-quarter net loss widened beyond expectations Wednesday as the No. 2 maker of computer chips struggles through a persistent business downturn.

Apple Computer Inc. reported its first net loss in nearly two years, due largely to charges from investment losses.

Earlier in the day, Boeing reported lower third-quarter earnings and warned that revenue will be lighter than forecasts in 2003; Ford Motor reported a third-quarter profit that topped analysts' estimates; and J.P. Morgan Chase reported a sharp drop in operating profit, but still topped forecasts.

• Alcan Allstate AMD
• AMR Apple Bank of New York
• Boeing Caterpillar Coca-Cola
• Comerica Delphi Ethan Allen
• FleetBoston Ford Motor General Dynamics
• Honeywell Host Marriott Household International IBM
• J.P. Morgan Chase Kraft Knight Trading
• Macromedia Merrill Lynch
• Office Depot Pfizer Stanley Works Symantec
• Travelers Property TRW Whirlpool
• Tuesday's earnings

NEW YORK (CNN/Money) -- IBM said its third-quarter profit from continuing operations was 99 cents a share, beating most analysts' expectations.

The consensus estimate of analysts polled by First Call was for a profit of 96 cents a share. During last year's third quarter, IBM logged earnings of 97 cents a share.

At $19.8 billion, IBM's third-quarter revenue was flat with the year-ago quarter and sightly better than most analysts had expected. IBM's (IBM: Research, Estimates) latest results exclude its hard-disk drive operations, which it is spinning off in a joint venture with Hitachi. (more details)

NEW YORK (CNN/Money) -- Apple Computer Inc. (AAPL: Research, Estimates) reported its first net loss in nearly two years, due largely to charges from investment losses.

Cupertino, Calif.-based Apple reported a net loss of $45 million, or 13 cents ashare, in its fiscal fourth quarter ended in September, compared with a net profit of $66 million, or 19 cents a share, a year earlier.

Excluding one-time items, Apple posted an operating profit of 2 cents a share. Analysts polled by Multex on that basis had on average expected a profit of 2 cents a share. (more details)

NEW YORK (CNN/Money) -- The No. 2 maker of computer chips said its third-quarter net loss widened beyond expectations as it struggles through a persistent business downturn.

Advanced Micro Devices (AMD: Research, Estimates) lost $254.2 million, or 74 cents a share, on a net basis in the September quarter. Analysts surveyed by First Call expected that Sunnyvale, Calif.-based AMD would lose 67 cents a share on average.

But looking ahead, AMD said the current quarter's loss will narrow sequentially, and it predicted a "significant" improvement in sales. (more details)

NORTHFIELD, Ill. (Reuters) -- Kraft Foods Inc. (KFT: Research, Estimates) said quarterly earnings rose, as higher shipments and cost savings from its acquisition of Nabisco offset weakness in its cheese business.

The maker of Philadelphia cream cheese, Oscar Mayer meats and Altoids mints said earnings in the third quarter rose to $869 million, or 50 cents a share, from $503 million, or 29 cents a share, a year ago.

Analysts had expected the Northfield, Ill.-based company to earn 48 cents to 51 cents a share, with an average of 50 cents, according to First Call. (more details)

NORTHBROOK, Ill. (Reuters) - Allstate Corp. reporter higher quarterly earnings helped by hikes in premium rates.

The No. 2 U.S. car and home insurer said third-quarter earnings rose to $280 million, or 39 cents a share, from $226 million, or 32 cents a share, a year earlier. Excluding one-time items, Allstate's (ALL: Research, Estimates) operating earnings rose to 77 cents a share from 56 cents a share last year.

On this basis, analysts on average were expecting earnings of 68 cents a share, with their estimates ranging from 58 cents to 77 cents, according to First Call.

NEW YORK (CNN/Money) -- The world's largest aircraft maker said it earned $375 million, or 46 cents a share, in the third quarter, excluding special items, but including the previously announced writedown of aircraft values due to the drop in demand for new aircraft.

That's down from $713 million, or 88 cents a share, that the company earned a year earlier but in line with the consensus forecasts of analysts surveyed by First Call, which tracks profit estimates. Revenue fell to $12.7 billion from $13.7 billion a year earlier, but topped First Call's of $12.4 billion.

Boeing (BA: Research, Estimates) did not give specific earnings per share guidance but said its operating margins will be thinner than previously expected, and that 2003 revenue will be about $50 billion rather than its earlier guidance of about $52 billion. (click here for more)

NEW YORK (CNN/Money) -- Ford Motor Co. (F: Research, Estimates) reported a narrow third-quarter profit Wednesday that drove far past Wall Street's most optimistic expectations, although the company put the brakes on its fourth-quarter earnings outlook.

The world's No. 2 automaker earned $220 million, or 12 cents a share, in the quarter, excluding special items, an improvement from the loss of $502 million, or 28 cents a share, on the same basis a year earlier. Analysts surveyed by earnings tracker First Call had a consensus earnings-per-share forecast of 3 cents, with a range of 1-to-5 cents. (click here for more)

NEW YORK (Reuters) -- Merrill reported third-quarter earnings of $579 million, or 61 cents a share, up from $475 million, or 50 cents, a year earlier.

The latest period includes a one-time gain of $114 million, or 12 cents a share, attributable to a Sept. 11-related net insurance recovery. Including items, Merrill (MER: Research, Estimates) earned $693 million, or 73 cents a share, in the latest quarter. On average, analysts expected Merrill to earn 58 cents a share, within estimates ranging from 50 to 62 cents, according to market research firm First Call. Analysts had been cutting their estimates all quarter as stock markets fell. (click here for more)

NEW YORK (CNN/Money) -- The nation's No. 2 bank earned $325 million, or 16 cents a share, excluding special items, down from $1.1 billion, or 55 cents a share, a year earlier. Analysts surveyed by First Call had a consensus earnings-per-share forecast of 7 cents.

Including special items the company posted net income of $40 million, or 1 cent a share, down from $449 million, or 22 cents, a year earlier. J.P. Morgan (JPM: Research, Estimates) also said it will cut 2,000 jobs during the fourth quarter, which it estimates will save about $700 million a year. It said severance costs will be about $450 million and that it will take a charge for $300 million of that in the current period. (click here for more)

NEW YORK (CNN/Money) --The parent of American Airlines reported a third-quarter loss of $475 million before special items, or $3.05 a share, about in line with forecasts, after losing $525 million, or $3.40 a share, a year earlier.

AMR (AMR: Research, Estimates) also said Boeing agreed to defer delivery of 34 airplanes over the next three years, and added it expects a sizeable operating loss in the fourth quarter, most likely exceeding the third-quarter loss before special items.

NEW YORK (Reuters) -- The New York-based company posted a third-quarter net profit of $2.35 billion, or 38 cents per share, up from $2.07 billion, or 33 cents, a year ago. Excluding certain items, Pfizer earned 39 cents per share in the latest quarter.

Analyst estimates ranged from 37 to 39 cents per share, with an average of 38 cents, according to First Call. Third-quarter revenue rose 12 percent to $8.73 billion, led by Lipitor sales, which gained 22 percent to $2.0 billion.

PEORIA, Ill. (Reuters) -- The heavy equipment manufacturer reported net income of $213 million, or 61 cents a share, up from $205 million, or 59 cents, a year earlier. Total revenue increased to $5.08 billion from $5.06 billion. The company cited lower income taxes for its increased income.

Analysts' estimates for Caterpillar's (CAT: Research, Estimates) earnings per share had ranged from 45 to 72 cents, with an average of 56 cents. (click here for more)

NEW YORK (CNN/Money) -- The world's No. 1 soft drink company posted a third-quarter operating profit of 48 cents a share, above last year's 41 cents a share and in line with analysts' estimates. Revenue rose to $5.3 billion from $4.7 billion.

But Coke shares tumbled after it warned that 2002 earnings per share could fall 1 or 2 cents shy of Wall Street's estimates of $1.78 (click here for more).

MORRIS TOWNSHIP, N.J. (Reuters) -- The maker of airplane brakes, wheels and electronics reported net income of $412 million, or 50 cents a share, up from 44 cents a share excluding special items in the year-earlier period. It reported a net loss of $308 million, or 38 cents a share, in the year-ago quarter due to a $668 million after-tax charge for restructuring and other items.

Analysts expected Honeywell (HON: Research, Estimates) to earn 49-to-52 cents a share, with a consensus estimate of 50 cents. (click here for more)

FALLS CHURCH, Va. (Reuters) --The defense contractor, which makes tanks, nuclear submarines and destroyers, said it earned $268 million, or $1.32 a share, in the third quarter, up from $230 million, or $1.13 a share, a year earlier. Sales rose to $3.29 billion from $3.02 billion. General Dynamics (GD: Research, Estimates) cited strength in its shipbuilding business and a recovery in its Gulfstream business jet unit.

The results matched expectations. Wall Street analysts were expecting profits of $1.27 to $1.38 per share, with an average forecast of $1.32, according to First Call.

TROY, Mich. (Reuters) -- The world's largest automotive parts supplier said its third-quarter profit rose to $54 million, or 10 cents a share, after stronger-than-expected results from its largest customer, General Motors Corp., offset pricing pressures. Last year the company posted third-quarter net earnings of $26 million, or 5 cents a share.

Analysts polled by First Call had expected Delphi (DPH: Research, Estimates) to report earnings in a range of 5-to-9 cents per share, with a mean estimate of 8 cents.

MONTREAL (Reuters) -- The world's No. 2 aluminum producer said it earned $152 million, or 47 cents a share, in the third quarter, up from $119 million, or 37 cents, a year earlier. The company cited lower costs for the increase. The mean estimate of 14 analysts polled by First Call was 46 cents.

The figures excluded nonrecurring items and foreign currency balance sheet translation effects. Including those items, net income was $191 million, or 59 cents a share, up from $149 million, or 46 cents, a year earlier. Revenue rose to $3.22 billion from $3.16 billion.

But Alcan (AL: Research, Estimates) said slumping aluminum prices and "uncertain global economic conditions" will lead to fourth-quarter earnings of 35 to 45 cents a share, below the mean estimate of 56 cents from 12 analysts polled by First Call.

BOSTON (Reuters) -- FleetBoston, which has had steep losses at its Latin American operations and was forced to close its Robertson Stephens investment bank, earned $579 million, or 55 cents a share, in the third quarter. That was down from $766 million, or 70 cents, a year earlier and includes results from discontinued operations such as Robertson Stephens.

FleetBoston's (FBF: Research, Estimates) third-quarter 2002 income from continuing operations was $597 million, or 57 cents a share, down from $771 million, or 70 cents. Wall Street expected FleetBoston to earn 53 to 60 cents a share in the quarter, with a mean estimate of 57 cents, according to First Call.

NEW YORK (Reuters) -- Travelers, spun off by Citigroup Inc. earlier this year, reported a net profit of $332.3 million, or 33 cents a share. That compared with a loss of $59.9 million, or 8 cents a share, a year before, when the firm was fully part of Citigroup. The year-earlier loss was caused by claims from the destruction of the World Trade Center in New York.

Excluding one-time items, Travelers (TAP.A: Research, Estimates) reported a profit of 36 cents a share, compared with a loss of 16 cents a year before. On that basis, Wall Street had expected a per-share profit of 35 cents. This year Travelers, like other insurers, is raising rates aggressively after a decade-long slump as overall net premiums in the quarter rose 26 percent to $3.058 billion.

DELRAY BEACH, Fla. (Reuters) -- The No. 1 office supplies retailer said it earned $88 million, or 28 cents per share, in the third quarter, up from $62 million, or 20 cents, a year earlier. Analysts polled by First Call had expected earnings in the range of 26-to-28 cents, with an average of 27 cents. Office Depot (ODP: Research, Estimates) said revenue rose to $2.87 billion from $2.76 billion.

BENTON HARBOR, Mich. (Reuters) -- The No. 1 U.S. appliance maker said it earned $101 million, or $1.46 per share, compared with a net loss of $94 million, or $1.40 per share, a year earlier.

Excluding restructuring and other charges, Whirlpool (WHR: Research, Estimates) reported an operating profit of $112 million, or $1.62 per share, compared with $101 million, or $1.46 per share, a year earlier. Analysts' estimates ranged from $1.53 to $1.60 a share, with a mean of $1.58, according to First Call.

NEW BRITAIN, Conn. (Reuters) -- The No. 1 U.S. tool maker posted net income of about $55 million, or 62 cents a diluted share. Stanley (SWK: Research, Estimates) said earnings were boosted by $5.5 million, or 6 cents a share, due to a reduction in income taxes due to a foreign tax benefit. The company's results met Wall Street's estimates on that basis, according to First Call.

The company earned $54.5 million, or 62 cents a diluted share, in the year-earlier quarter.

CLEVELAND (Reuters) -- TRW, which is in the process of a $7.8 billion sale to Northrop Grumman Corp., said its third-quarter profit from continuing operations reached $115 million, or 89 cents per share.

Wall Street analysts were expecting TRW (TRW: Research, Estimates) to earn between 80 and 84 cents per share, with a mean estimate of 83 cents.

NEW YORK (Reuters) -- The bank said it earned $79 million, or 11 cents a share, in the third quarter, down from $243 million, or 33 cents, a year earlier. Analysts polled by First Call on average expected 11 cents.

Bank of New York (BK: Research, Estimates) took a $260 million after-tax charge to cover bad loans to telecommunications firms and losses in a portfolio of bank shares. Other banks also have unpaid loans in the weak U.S. economy. Excluding the charge, Bank of New York said it earned 47 cents per share.

JERSEY CITY, N.J. (Reuters) --The securities trading firm posted a third-quarter loss of $3.4 million, or 3 cents per share, compared with a loss of $5.7 million, or 5 cents, in the third quarter of last year. Excluding severance and other non-operating items, Knight reported a loss of $1.6 million, or 1 cent per share.

Analysts had been looking for Knight (NITE: Research, Estimates) to lose between 1 and 6 cents per share in the third quarter, with a mean forecast of a loss of 4 cents, according to First Call. Revenue in the quarter declined to $120 million from $130.9 million a year earlier.

PROSPECT HEIGHTS, Ill. (Reuters)-- The company said it earned $221 million, or 45 cents per share, down from $486 million, or $1.03, a year earlier.

The company said last week it will pay up to $484 million in a settlement with 20 states that charged Household (HI: Research, Estimates) with engaging in predatory lending by manipulating low-income borrowers into paying interest rates on loans that far exceeded industry norms. Excluding a $333 million charge, the company said it earned $1.17 per share, up from $1.03 a year ago. On that basis, Wall Street analysts on average had expected earnings of $1.17 per share, with estimates ranging from $1.12 to $1.20.

DANBURY, Conn. (Reuters)-- The company, which sells its furniture through 313 Ethan Allen stores, reported net income in the fiscal first quarter ended Sept. 30 of $20.1 million, or 52 cents a share, up from $16.7 million, or 42 cents, a year earlier.

In August, Ethan Allen (ETH: Research, Estimates) forecast earnings of 52 to 54 cents for the quarter. Analysts targeted 53 cents a share, according to First Call. Total sales increased 4.7 percent to $216.5 million, while sales at its stores open at least a year fell 3.6 percent.

DETROIT (Reuters) -- The Detroit-based bank earned $24 million, or 14 cents a share, in the third quarter, down from $209 million, or $1.14 a share, a year earlier. Wall Street expected Comerica (CMA: Research, Estimates) to earn between 9 and 19 cents a share, with a mean estimate of 13 cents, according to analysts polled by First Call.

The bank said it expects earnings of $3.40-to-$3.50 a share for the year, compared with the average First Call estimate of $3.41.

BETHESDA, Mary. (Reuters) --The hotel real estate investment trust, or REIT, reported a third-quarter loss of $47 million, or 18 cents per share, compared with a loss $16 million, or a 6 cents per share, the year before. Revenue totaled $789 million, down from $848 million a year before.

Third-quarter funds from operations, a common measure of REIT operating performance, totaled $41 million, or 15 cents per share, down from $75 million, or 28 cents , a year earlier. Analysts polled by First Call had estimated funds from operations at 11 cents per share.

SAN FRANCISCO (Reuters) -- Macromedia (MACR: Research, Estimates), which makes software for Web design and animation, posted a narrower second-quarter net loss. The company reported a net loss for the quarter ended Sept 30 of $11.7 million, or 19 cents per share, compared with a loss of $70.7 million, or $1.22 a share, a year earlier.

Net revenues fell to $85.4 million from $87.1 million. Earnings exculding some items was $7.8 million, or 13 cents per diluted share, compared with a loss of $3.3 million, or 6 cents per share, a year earlier.

The average estimate of 11 analysts surveyed by First Call was for earnings of 2 cents per share, with estimates ranging from break-even to a gain of 6 cents.

SAN FRANCISCO (Reuters) -- Symantec Corp. (SYMC: Research, Estimates), a leader in computer security products and services, on Wednesday posted a second-quarter profit versus a loss a year ago, handily beating estimates on strong sales of antivirus software.

Excluding items, which included expenses from the amortization of goodwill and other intangibles from acquisitions, acquired in-process research and development, and restructuring and site closures, Symantec posted a profit of $60 million, or 38 cents a share. That compared with a profit of $42 million, or 28 cents a share, a year earlier. Analysts had, on average, expected the company to post earnings of 31 cents a share, according to Thomson First Call.