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October 11, 2000: 10:58 p.m. ET

Fannie Mae; Tricon Global; Applied Micro Circuits; PaineWebber beats Street
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NEW YORK (CNNfn) - Advanced Micro Devices reported a third-quarter profit Wednesday, beating Wall Street expectations by two cents. PaineWebber, Harley-Davidson, Applied Micro Circuits, Fannie Mae and Tricon Global Restaurants also surpassed estimates.

General Electric, Gannett and Delphi were in line with forecasts for their third-quarter results. But Nordstrom warned that charges and lower sales could put a dent in its third-quarter earnings.

Advanced Micro Devices beats Street

Advanced Micro Devices (AMD: Research, Estimates), the world's No. 2 supplier of PC microprocessors, reported a third-quarter profit that exceeded Wall Street's expectations by two cents. The company said it earned $219.3 million, or 64 cents per share, during the quarter ended Oct. 1. That compares with a loss of $105.5 million, or 36 cents per share, during last year's third-quarter, and is two cents better than the per-share profit analysts polled by earnings tracker First Call/Thomson Financial had expected from AMD. [click here for full story]

Harley-Davidson rides high

Legendary motorcycle maker Harley-Davidson Inc. (HDI: Research, Estimates) said Wednesday that third-quarter net income rose 28 percent, topping Wall Street estimates, as results were boosted by robust demand for its motorcycles. Analysts had on average expected earnings of 26 cents a share, according to First Call. [click here for full story]

Tricon Global tastes success

Tricon Global Restaurants Inc., (YUM: Research, Estimates) the No. 2 worldwide restaurant company, said Wednesday third-quarter earnings rose a better-than-expected 3 percent, amid continued weakness at its Taco Bell and KFC chains. [click here for full story]

Applied Micro Circuits beats forecast

Communications chip maker Applied Micro Circuits (AMCC: Research, Estimates) on Wednesday reported better-than-anticipated earnings for the second quarter, and declared a 2-for-1 stock split. The San Diego-based company reported pro forma net income for the quarter of $35.7 million, or 26 cents a diluted share, compared with year-ago figures of $9.1 million or 8 cents a diluted share. That surpassed analysts' consensus earnings estimate of 23 cents per share, as compiled by First Call.[click here for full story]

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Redback Networks crosses estimates

Computer networking company Redback Networks (RBAK: Research, Estimates) on Tuesday posted a third-quarter profit that surpassed Wall Street expectations of a loss. Redback posted pro forma net income of $3.2 million, or 2 cents a share, compared with a loss of $569,000, or 1 cent, in the year-ago quarter. The results compared with a consensus analyst estimate for a loss of 2 cents per share, according to First Call. [click here for full story]

General Electric matches forecast

General Electric (GE: Research, Estimates) Wednesday reported third-quarter earnings per share rose 19 percent to 32 cents, matching Wall Street forecasts - the first time GE has failed to beat analysts' estimates in a year and a half. [click here for full story]

PaineWebber edges past estimates

PaineWebber Group (PWJ: Research, Estimates), the fourth-largest U.S. brokerage firm, reported third-quarter earnings Wednesday that exceeded Wall Street forecasts but fell slightly short of its year-ago profit. [click here for full story]

Gannett matches Wall Street mark

Newspaper publisher Gannett Co. Inc. (GCI: Research, Estimates), whose flagship newspaper is USA Today, reported third-quarter earnings that were in line with analysts' expectations. The company said its earnings per share for the quarter rose to 79 cents a share from 70 cents a share in the same period of last year. Analysts on average had expected the company to post third-quarter earnings of 79 cents a share, according to First Call.

Genentech profit rises on cancer drug sales

Biotechnology firm Genentech Inc. (DNA: Research, Estimates) reported a 27 percent gain in third-quarter profits, matching Wall Street estimates, driven by sales of cancer drugs. The biotech bellwether said income rose to $85 million, or 31 cents a share, reflecting a stock split last November. That compares with $66.9 million, or 26 cents per share, in the year-ago quarter. [click here for full story]

Delphi meets analysts' expectations

Delphi Automotive Systems (DPH: Research, Estimates) reported third-quarter consolidated earnings of $148 million, or 26 cents per share, in line with analysts' consensus estimates and a 9 percent increase over the same period last year for the auto parts supplier. [click here for full story]

Hughes 3Q cash flow drops

Satellite service provider Hughes Electronics Corp. (GMH: Research, Estimates), a unit of automaker General Motors Corp. (GM: Research, Estimates), reported a 47 percent drop in earnings from operations. [click here for full story]

Nordstrom warns on third-quarter results

Upscale retail chain Nordstrom warned Wednesday that non-recurring charges and lower-than-anticipated sales could have a severe impact on third-quarter earnings and might result in a loss. [click here for full story]

Centura Banks meets 3Q, sees 4Q on track

Centura Banks (CBC: Research, Estimates) reported third-quarter earnings that matched Wall Street's expectations and said it should meet current fourth-quarter estimates. The Rocky Mount, N.C.-based financial firm said it earned $34 million, or 85 cents per diluted share, in the third quarter, compared with restated earnings of almost $32 million, or 79 cents per share, a year earlier.

Fannie Mae beats 3Q estimates

Washington-based Fannie Mae, the top U.S. source of home mortgages, on Wednesday reported a better-than-expected 13 percent increase in quarterly profits to a record, propelled by strong growth in its loan portfolio. The government-sponsored company that buys mortgages from lenders and packages them into securities for investors, earned $1.12 billion, or $1.09 per diluted share, compared with $991.0 million, or 94 cents a share, in the year-ago period. Analysts' on average expected $1.08 per share, according to First Call. [click here for full story] Back to top


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