NEW YORK (CNN/Money) - Losses at AT&T widned during the fourth-quarter loss from continuing operations Thursday but said its profit excluding one-time items met analysts' estimates for the period.

Shares of AT&T fell as much as $5.82 or 23 percent, to $19.50.

However, the nation's biggest long-distance telephone company warned that it does not see an improvement in demand soon and expects a first-quarter profit that will miss forecasts on Wall Street.

Elsewhere, McDonald's reported its first net loss as a public company, although operating profits in the quarter met Wall Street estimates. The world's largest restaurant chain said it will keep cutting costs in an effort to bolster earnings growth.

A weaker dollar helped Caterpillar, which reported an 83 percent jump in fourth-quarter profits, soundly beating analysts' forecasts. But the nation's No. 1 maker of construction equipment said it expects flat sales and increased costs in 2003.

Agere;AT&T; Becton Dickinson;

BellSouth; Cardinal Health; Caterpillar;

Dow Jones; Eli Lilly; EMC;

Ingersoll-Rand; Lexmark; Marathon Oil;

MBNA; McDonald's; Network Associates;

Nokia; Reader's Digest; Robert Mondavi;

Sara Lee; Schering-Plough; Sunoco;

Textron; Travelers; UnitedHealth

Click here for CNN/Money's Earnings Scorecard

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NEW YORK (CNN/Money) -- AT&T (T: Research, Estimates) posted a loss from continuing operations in the fourth quarter and warned continued weakness would lead to first-quarter earnings below Wall Street forecasts.

The Bedminster, N.J.-based telecom company earned net income of $516 million, or 66 cents a share, in the quarter, including a gain of $1.71 a share from the sale of its cable operations, AT&T Broadband, to Comcast.

Excluding one-time items, AT&T said its core quarterly earnings came to 71 cents a share in the quarter, which it said met analysts' average forecasts. But earnings tracker First Call would not confirm that, saying it would have to hear from analysts before saying if the company met or narrowly missed its target. (more details)

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NEW YORK (CNN/Money) -- The world's largest fast-food chain reported it's first quarterly loss, although its fourth-quarter operating profit met lowered forecasts. The company reported a net loss of $344 million, or 27 cents a share, including a charge of $810 million, or 52 cents a share, to close underperforming restaurants. That compares to net income of $272 million, or 21 cents a share, a year earlier.

Excluding special items the company reported earnings of 25 cents a share in the quarter, down from 34 cents a share on that basis a year earlier. Last month the company said it expected EPS of 25 to 26 cents excluding items. Analysts surveyed by earnings tracker First Call had lowered their consensus forecast to 25 cents from 31 cents a share before the December warning.

McDonald's (MCD: Research, Estimates) sales grew to nearly $4 billion from $3.8 billion, topping analysts' estimates of basically flat revenue in the period. Total systemwide sales, including at restaurants owned by franchisees, rose to $10.5 billion from $10.1 billion. (See more)

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PEORIA, Ill. (Reuters) -- The heavy-equipment maker said earnings got a bosst from higher sales and currency fluctuations. Net income jumped to $305 million, or 88 cents a share, in the quarter, from $167 million, or 48 cents a share, a year before. Excluding a charge in the year-ago period, Caterpillar would have earned $264 million, or 76 cents a share.

Analysts' estimates ranged from 58 cents to 78 cents a share, with an average forecast of 68 cents, according to First Call. Caterpillar's (CAT: Research, Estimates) sales increased to $5.4 billion from $5.1 billion. (See more; for a closer look at Caterpillar from Money magazine, click here).

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HELSINKI, Finland (Reuters) -- The world's largest mobile phone maker posted better than expected fourth-quarter profits but said it expected weak first-quarter sales. It cited the difficult economy and stiff competition. Nokia (NOK: Research, Estimates) forecast first-quarter earnings would be flat at best, and possibly lower, on a per share basis.

The firm said it expected sales growth for the group to be lower than the zero to 9 percent sales growth estimated for the handset unit. October-December 2002 EPS of 0.26 came in higher than the average estimate of 0.24 in a Reuters poll of analysts and beat the company's own forecast of 0.23-0.25. In the fourth quarter of 2001, earnings were 0.24.

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WILMINGTON, Del. (Reuters) -- The largest independent issuer of credit cards in the United States said earnings rose slightly as more loans offset higher consumer defaults.

MBNA (KRB: Research, Estimates), based in Wilmington, Del., reported fourth-quarter earnings of $540 million, or 41 cents a share, compared with $525 million, or 41 cents a share, a year earlier. The year-earlier figures were adjusted to take into account a stock split.

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MINNEAPOLIS (Reuters) -- The No. 1 U.S. health insurer said its quarterly earnings jumped as it fended off soaring medical costs with higher health premiums. Minneapolis-based UnitedHealth (UNH: Research, Estimates) reported a profit of $379 million, or $1.20 a share, compared with $247 million, or 76 cents a share.

Wall Street analysts predicted the company would earn $1.16 a share. Shares of UnitedHealth soared last year, easily beating the broader market, as the industry kept premiums ahead of skyrocketing medical costs.

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INDIANAPOLIS (Reuters) -- The drugmaker said fourth-quarter earnings rose, helped by higher sales of treatments for schizophrenia and osteoporosis. Indianapolis-based Lilly reported a profit of $736 million, or 68 cents a share, compared with $575 million, or 53 cents a share, a year ago. Sales grew to $3 billion from $2.8 billion.

Lilly (LLY: Research, Estimates) warned in October that earnings would be 68 to 70 cents a share, below analysts' average projections at the time of 72 cents. The company has been struggling to rebound from the loss of U.S. patent protection on its once-lucrative antidepressant Prozac.

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ATLANTA (Reuters) -- The No. 3 U.S. local telephone company posted lower fourth-quarter profits as demand for telephone and data services softened. BellSouth (BLS: Research, Estimates), the dominant local phone company in nine Southeastern states, said net income fell to $597 million, or 32 cents a share, from $792 million, or 42 cents a share, a year earlier.

Excluding one-time items, earnings totaled 50 cents a share, compared with 63 cents a year ago. Wall Street analysts had expected 48 cents to 53 cents a share, with a mean forecast of 51 cents, according to First Call. Revenue dropped to $7.1 billion.

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NWE YORK (CNN/Money) -- The No. 3 property and casualty insurer reported a quarterly loss of $793 million, or 79 cents a share, compared with a profit of $303 million, or 39 cents a share. The loss reflected a $1.3 billion charge for boosting reserves to pay for asbestos claims against its corporate clients, announced last week. Travelers (TAP.A: Research, Estimates), as with other insurers, decided to boost reserves after a string of costly asbestos payouts by U.S. companies.

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HOPKINTON, Mass. (Reuters) --The data storage company posted a quarterly loss including a restructuring charge for previously announced job cuts. EMC lost $63.9 million, or 3 cents a share, in the fourth quarter, versus a loss of $70.16 million, or 3 cents a share, a year earlier.

It took a charge of $117 million to cover job cuts and other items. EMC (EMC: Research, Estimates) said sales edged down to $1.49 billion from $1.51 billion. The loss was in line with company's forecast in early January.

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NEW YORK (Reuters) -- The publisher of the Wall Street Journal said fourth-quarter earnings fell as it struggled with a sluggish recovery in advertising. Dow Jones (DJ: Research, Estimates) said its profit fell to $15 million, or 18 cents a share, from $32 million, or 38 cents a share.

Excluding charges for job cuts and a lease write-off, the company posted a profit of $28 million, or 34 cents a share, flat with a year ago. Fourth-quarter revenue fell 8 percent to $397 million. Analysts on average expected earnings of 25 cents, with estimates ranging from 24 to 26 cents.

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KENILWORTH, N.J. (Reuters) -- The drugmaker reported lower profits due to a big drop in sales from its flagship allergy medicine Claritin, which in early December became available in the United States without a prescription.

The company said net income dropped to $428 million, or 29 cents a share, versus 36 cents a share excluding charges. Wall Street analysts had forecast profits of of 44 cents a share until Schering-Plough on Jan. 9 cut its own estimate to between 27 cents and 29 cents. Schering-Plough (SGP: Research, Estimates)'s sales edged down to $2.4 billion from $2.5 billion.

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PHILADELPHIA (Reuters) --The independent oil marketer reported net income soared as refining margins were "much improved."

Philadelphia-based Sunoco (SUN: Research, Estimates) reported fourth-quarter net of $61 million, or 79 cents a share, up from $4 million, or 5 cents a share, a year earlier. Analysts had projected profits of 60 to $1.30 a share with an average of 83 cents a share, according to First Call.

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HAMILTON, Bermuda (Reuters) -- The construction equipment manufacturer said profit rose on higher sales across its divisions. The maker of Bobcat construction vehicles, Schlage locks and Thermo King truck refrigeration units reported quarterly earnings of $183 million, or $1.08 a share, up from $100 million, or 59 cents, a year ago.

Analysts expected Ingersoll-Rand (IR: Research, Estimates) to earn 94 cents a share on average. Sales at the Hamilton, Bermuda-based company rose to $2.4 billion from about $2.3 billion.

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HOUSTON (Reuters) -- The integrated oil company said it posted a fourth-quarter profit, reversing a year-ago loss, as higher oil prices boosted oil exploration and production results.

Marathon (MRO: Research, Estimates) reported fourth-quarter net income of $194 million, or 62 cents a share, compared with a net loss of $1.1 billion, or $2.90 a share. Analysts forecast earnings of 53 cents to 78 cents a share, with a consensus estimate of 61 cents a share.

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ALLENTOWN, Pa. (Reuters) --The chipmaker reported a narrower loss, still hurt by weak technology demand. Agere (AGR.A: Research, Estimates) lost $146 million, or 9 cents a share, for its fiscal first quarter, compared with a loss of $375 million, or 23 cents a share, a year earlier. Sales from continuing operatios fell 2 percent to $436 million.

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DUBLIN, Ohio (Reuters) --The medical supply distributor said net income rose 30 percent as demand for prescription drugs helped its wholesale business. Net income increased to $367 million, or 82 cents a share, from $283 million, or 62 cents a share.

Wall Street analysts forecast earnings of 77 cents for the quarter ended Dec. 31. Cardinal's (CAH: Research, Estimates) revenue rose 13 percent to $12.7 billion.

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FRANKLIN LAKES, N.J. (Reuters) -- The medical supply firm said its fiscal first-quarter profit rose, beating Wall Street's expectations, driven by sales of its drug delivery devices and diagnostic instruments.

Becton (BDX: Research, Estimates) said it earned $114 million, or 43 cents a share, in the quarter, up from about $100 million, or 37 cents. Analysts were expecting a profit of 39 cents a share.

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LEXINGTON, Ky. (Reuters) -- The printer maker reported higher profit, on stronger sales of multi-function printers and ink cartridges. The No. 2 printer maker after Hewlett-Packard said it earned $116 million, or 90 cents a share, compared with net income of $37 million, or 27 cents a share, a year earlier.

Adjusted for one-time items, earnings were 86 cents a share, meetingn forecasts for Lexmark (LXK: Research, Estimates).

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PROVIDENCE, R.I. (Reuters) -- Textron said net income fell nearly 50 percent as the maker of Bell helicopters and Cessna aircraft spent the year restructuring. Textron said it expects to earn about $3.05 a share during 2003, well below average estimates of $3.29 a share.

Net income fell to $131 million, or 95 cents a share, from $257 million, or $1.81 a share, a year earlier, which included a $342 million pretax gain on an asset sale. Before special items, Textron (TXT: Research, Estimates) earned $1.04 a share, above average forecasts of $1.01 a share, according to First Call.

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CHICAGO (Reuters) -- The maker of Hanes underwear and Jimmy Dean sausage said quarterly earnings rose sharply, boosted by increased sales of meat and household products and lower interest expense.

The food, apparel and household products maker posted profit of $348 million, or 42 cents a share, in its fiscal second quarter ended Dec. 29, up from $160 million, or 20 cents, a year ago. In late October, Chicago-based Sara Lee (SLE: Research, Estimates) forecast profits of 40 to 42 cents before special items. Sales grew 2 percent to $4.8 billion.

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PLEASANTVILLE, N.Y. (Reuters) -- The publisher of one of the world's most widely read magazines posted quarterly earnings at the lower end of its own forecast and cut its 2003 outlook.

Reader's Digest (RDA: Research, Estimates) reported second-quarter net income of $84 million, or 84 cents a share. Excluding one-time items, it earned 90 cents a share, up from 78 cents a year earlier, but near the low end of its own guidance of 88 cents to $1 a share. Sales rose 6 percent to $831 million.

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SANTA CLARA, Calif. (Reuters) -- The Internet security firm reported a net profit of $44 million, or 26 cents a share, versus a loss $4.9 million, or 3 cents a share, a year earlier. Before special items, the company earned 29 cents a share, above forecasts of 24 cents a share. Sales edged down to $256 million.

Network Associates (NET: Research, Estimates) also forecast a first-quarter profit of 9 cents to 11 cents a share on sales of about $227 million. For the year, the company said it expects a profit of 70 cents to 75 cents a share on revenue of about $1 billion.

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OAKVILLE, Calif. (Reuters) -- The winemaker said fiscal second-quarter earnings declined, hurt by higher expenses and restructuring and cut its earnings outlook for the year.

The Oakville, Calif.-based producer of the Woodbridge and Robert Mondavi brands reported net income of $9.8 million, or 60 cents a share, down from $10.2 million, or 63 cents a share, a year earlier. Excluding charges, earnings were 77 cents a share, up from 71 cents and above average forecasts of 72 cents a share. Sales at Mondavi (MOND: Research, Estimates) rose 8 percent to $141 million.