NEW YORK (CNN/Money) - Consumer products firm Procter & Gamble reported Tuesday a higher second-quarter profit that topped Wall Street's raised estimates by a penny a share. The company also guided towards the high end of expectations for the current quarter.

Chemical firm DuPont posted a higher fourth-quarter operating profit that beat analysts' estimates by two cents a share and No. 2 telecom firm SBC Communications said its fourth-quarter operating profit fell, but met estimates as it lost access lines to rivals in the sector.

AT&T Wireless; Biogen; Duke Energy;

DuPont; L-3 Communications; McGraw-Hill;

Merck; MGM Mirage; New York Times;

Northrop Grumman; Pepsi Bottling; Procter & Gamble;

Pulte Homes; R.J. Reynolds; Ralcorp;

SBC Communications; UPS; U.S. Steel;

Wyeth; Xerox;

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NEW YORK (CNN/Money)--The consumer products firm reported improved fiscal second-quarter earnings that edged past raised Wall Street estimates and the company said it expects to meet or beat forecasts for the current quarter. The maker of such products as Pampers diapers, Tide detergent and Crest toothpaste said it earned $1.6 billion, or $1.13 a share, excluding special items, in the quarter ended Dec. 31. That's up from $1.4 billion, or $1.03 a share, on the same-basis in the year-earlier period. Analysts surveyed by earnings tracker First Call expected the company to earn $1.12 share.

Revenue rose to $11.0 billion from $10.4 billion a year earlier. P&G (PG: Research, Estimates) said it expects earnings per share growth of 11 to 13 percent in the current fiscal third quarter above the 84 cents a share it earned in the year-ago period. That would bring a profit of 93 cents to 95 cents a share, compared to the Thomson First Call consensus forecast of 93 cents. (more details)

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WILMINGTON, Del. (Reuters)--The No. 2 U.S. chemical company reported a sharp drop in fourth-quarter profit on low chemical demand and higher energy costs. DuPont (DD: Research, Estimates) reported net income of $350 million, or 35 cents a share, compared with net income of $3.92 billion, or $3.82 per share last year. Year-ago figures included a huge gain from the sale of its pharmaceuticals business.

Excluding special items, the company earned 34 cents a share. On that basis, Wall Street forecast earnings of 30 cents to 35 cents a share, with a consensus estimate of 32 cents a share, according to Thomson First Call. (more details)

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SAN ANTONIO, Texas (Reuters)--The No. 2 U.S. local telephone company posted lower quarterly revenues as it lost telephone lines to rivals and customer demand weakened in the stagnant economy, but its profit met Wall Street expectations. The San Antonio, Texas-based company said it expects its 2003 revenues to fall by low single-digit percentage rates.

For the fourth quarter, SBC (SBC: Research, Estimates) said its net income totaled $2.4 billion, or 71 cents a share, from $1.2 billion, or 35 cents, a year earlier. But excluding expensing of stock options and other items, SBC's profit fell to 62 cents a share, from 64 cents a share, a year earlier. SBC's results were in line with Wall Street's expectations, which ranged from 57 to 63 cents a share, with an average forecast of 62 cents a share, according to Thomson First Call.

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NEW YORK (CNN/Money)--The shipping firm beat fourth quarter forecasts, as improved results from its international and non-parcel businesses overcame declines in its core U.S. delivery operations, but the company's guidance for first quarter results put it at or below current estimates. The world's largest transportation company earned $670 million, or 59 cents a diluted share, in the quarter excluding special items, up from $645 million, or 57 cents a share, in the year-earlier period. Analysts surveyed by Thomson First Call were forecasting flat earnings at 57 cents a share.

But UPS (UPS: Research, Estimates) said it is not seeing signs of a U.S. economic recovery and it sees a first-quarter profit of 48 cents to 53 cents a share, at the low end of First Call's consensus forecast of 53 cents. The company's overall revenue edged up 3.3 percent to $8.3 billion, but the company's domestic package revenue was slightly lower at $6.2 billion.

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LOS ANGELES (Reuters)--The defense contractor reported a higher quarterly profit as its aggressive acquisition strategy boosted its bottom line. The maker of the B-2 bomber and the unmanned Global Hawk spy plane, said fourth-quarter profit reached $224 million, or $1.72 per share, up from $131 million, or $1.28 cents a share last year. Sales rose to $4.8 billion from $4.1 billion.

Excluding the impact of its pension funds, which have suffered during the bear market, Northrop (NOC: Research, Estimates) said it earned $238 million, or $1.83 cents a share in the quarter. This compares with $156 million, or $1.53 cents a share last year. Analysts expected the company, the world's largest shipbuilder, to earn between $1.56 per share and $1.73 per share, with an average estimate of $1.66 per share, according to Thomson First Call.

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NEW YORK (CNN/Money)--The drugmaker reported an improved fourth-quarter profit that met Wall Street expectations for the period, and said it expects to top current profit forecasts in 2003. The company said it earned $1.89 billion, or 83 cents a diluted share. That's up from $1.86 billion, or 81 cents a share, in the year-earlier period and in line with the consensus forecast of analysts surveyed by Thomson First Call. Revenue rose to $13.9 billion from $12.6 billion a year ago, which beat First Call's forecast of $13.7 billion.

Merck (MRK: Research, Estimates) said it expects to earn between $3.40 and $3.47 a share in 2003, which is above the First Call consensus forecast of $3.39 a share, as well as the $3.14 a share it earned in both 2002 and 2001. (more details)

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NEW YORK (Reuters)--The biotech firm said its fourth-quarter profit rose as a gain from a litigation settlement offset slowing sales of its sole marketed product, the multiple sclerosis drug Avonex. Biogen, based in Cambridge, Massachusetts, said net income rose to $81 million, or 53 cents a share, from $59 million, or 39 cents, a year ago. Revenue rose to $302.4 million from $280.6 million last year.

Excluding one-time charges and gains, the company's profit fell to 43 cents a share, compared with 48 cents, a year ago. On that basis, analysts had on average expected Biogen (BGEN: Research, Estimates) to post a profit of 42 cents, according to Thomson First Call.

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STAMFORD, Conn. (Reuters)--The office equipment firm posted a narrow fourth-quarter profit as cost-cutting outweighed the effects of increased competition and slack spending for copiers and other machines. Stamford, Connecticut-based Xerox, which is coming off years of restructuring and questions about its accounting practices, said net income was $19 million, or 1 cent a share. That compared with a net loss of $140 million, or 19 cents per share, a year earlier.

Excluding costs related to restructuring and other one-time items, Xerox (XRX: Research, Estimates) posted a fourth quarter profit of 24 cents a share. Analysts surveyed by Thomson First Call had expected, on average, a net loss of 11 cents a share, and a profit before special items of 16 cents a share. Fourth-quarter revenue was $4.25 billion, down from $4.38 billion a year earlier. Analysts had forecast $4.21 billion, according to First Call.

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REDMOND, Wash. (Reuters)--The third-largest U.S. wireless telephone company posted a quarterly net loss, but revenue jumped about 15 percent as its total customer base increased. The Redmond, Washington-based company reported a fourth-quarter net loss of $131 million, or 5 cents a share, compared with a loss of $1.2 billion, or 48 cents a share, a year ago.

AT&T Wireless (AWE: Research, Estimates) added 705,000 subscribers in the fourth quarter, a decrease of 23.9 percent compared to the same period last year.

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NEW YORK (Reuters)--The publisher said its fourth-quarter profit surged more than 45 percent as it reaped the benefits of an improving advertising market. The company, which in addition to its flagship newspaper owns the Boston Globe, said earnings rose to $107.5 million, or 69 cents per share, from $74.1 million, or 48 cents a share, a year earlier.

Excluding a work force reduction charge and other items, it earned 69 cents per share in the latest quarter. Analysts on average had expected 67 cents, with estimates ranging from 62 cents to 70 cents, according to research firm Thomson First Call. New York Times Co (NYT: Research, Estimates). revenue rose 7.6 percent to $840.2 million, with advertising revenue up 10.1 percent. The company said it expects 2003 earnings per share growth in the mid-single digits to low-double digits on a percentage basis.

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LAS VEGAS (Reuters)--The No. 2 casino operator said its fourth-quarter profit rose compared with last year, when travel to Las Vegas slowed because of the Sept. 11 attacks, but said earnings were depressed by a slow New Year's holiday.

MGM (MGG: Research, Estimates), which owns the Bellagio and other high-end Las Vegas casinos, said fourth-quarter earnings were $39 million, or 25 cents per share, compared with $23.7 million, or 15 cents per share, in the year-ago quarter. Excluding one-time items, MGM posted profit of 28 cents per share, compared with 18 cents per share a year ago. Analysts polled by Thomson First Call had a mean estimate of 25 cents on MGM's earnings, after the company slashed its forecast early this month. Revenue was $1.09 billion, compared with $987.8 million in the fourth quarter of 2001.

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WINSTON-SALEM, N.C. (Reuters)--The parent of the No. 2 U.S. tobacco company posted a quarterly loss, as it took a restructuring charge and spent more to retain consumers who have been switching away from premium brands to cheaper cigarettes. The maker of Camel and Winston cigarettes, said it posted a net loss of $59 million, or 69 cents per share, in the fourth quarter, compared with income of $89 million, or 93 cents per share, a year earlier.

In December, Winston-Salem, North Carolina-based R.J. Reynolds (RJR: Research, Estimates) outlined plans to cut more than 600 jobs, or 8 percent of its work force, narrowed its earnings view and said it would exit some businesses and record a fourth-quarter restructuring charge of about $235 million pretax, or about $145 million after taxes.

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NEW YORK (Reuters)--The publishing firm posted higher fourth-quarter earnings thanks to solid performances by its financial and education units and improved advertising for its magazine operations. McGraw-Hill (MHP: Research, Estimates), which owns the credit-rating agency Standard & Poor's and BusinessWeek magazine, posted a profit of $134.9 million, or 69 cents per share, compared with a loss of $2.8 million, or 1 cent per share, a year earlier. The year-earlier figure included a special charge of 57 cents per share.

Analysts polled by Thomson First Call had expected earnings of 67 cents a share, with estimates ranging from 65 cents to 69 cents. Operating revenue rose 5.2 percent, to $1.17 billion from $1.11 billion a year earlier.

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SOMERS, N.Y. (Reuters)--The largest bottler of Pepsi drinks said its fourth-quarter profit jumped more than four-fold as price increases offset sluggish U.S. volume due to a cold, wet weather. The company also stood by its earnings forecast for 2003.

Pepsi Bottling said it earned $57 million, or 20 cents per share, in its fourth quarter ended Dec. 28, compared with $13 million, or 5 cents per share, a year earlier. Net revenue rose to $2.78 billion from $2.46 billion a year earlier. The Somers, New York-based company in December forecast earnings of 16 cents to 18 cents per share. Analysts had the same expectations for the quarter, with a mean estimate of 17 cents per share, according to Thomson First Call. Worldwide case volume was flat, while U.S. case volume fell one percent, the company said. Those results are on a constant territory basis, which adjusts for the timing of acquisitions. On a reported basis, worldwide case volume rose by 16 percent.

For 2003, Pepsi Bottling (PBG: Research, Estimates) said it still expects to earn $1.68 to $1.74 a share. Analysts' forecasts range from $1.61 to $1.75, with a mean target of $1.70, according to First Call. The company also said it expects 3 percent to 4 percent volume growth on a constant territory basis and reported operating income growth of 15 percent to 20 percent this year.

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BLOOMFIELD HILLS, Mich. (Reuters) --The biggest U.S. homebuilder said fourth-quarter earnings jumped nearly 45 percent as low mortgage rates drove demand for new homes. The Bloomfield Hills, Mich.-based builder posted fourth-quarter earnings from continuing operations of $172 million, or $2.78 per share, from $120 million, or $1.99 per share, in the year-earlier period.

Pulte (PHM: Research, Estimates) posted net income of $171.9 million, or $2.78 per share, compared with $119.4 million, or $1.98 per share, a year earlier. Analysts' earnings estimates ranged from $2.55 to $2.75 per share, with a mean of $2.65 per share, according to Thomson First Call. Based on the increase in its fourth-quarter orders and forecasts suggesting an improving economy in 2003, the company said it still expects year-over-year earnings growth of 10 to 15 percent. It sees 2003 EPS in the range of $7.85 to $8.25 per share.

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PITTSBURGH (Reuters)--The steel firm said it swung to a fourth-quarter net profit, helped by improvement in its flat-rolled business and cost cuts. U.S. Steel (X: Research, Estimates), which is trying to acquire bankrupt rival National Steel Corp., reported net income of $12 million, or 12 cents per share, compared with a year-earlier net loss of $174 million, or $1.95 per share.

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NEW YORK (Reuters)--The drugmaker said its fourth-quarter profit before special items remained roughly flat with a year ago, as safety concerns hurt demand for the company's female hormone replacement drugs. Excluding special items, fourth quarter earnings were $864.1 million, or 65 cents per share, flat with a year ago.

Madison, New Jersey-based Wyeth said its net profit, rose to $1.57 billion, or $1.18 cents per share, after a host of unusual items in the period. A year ago, it earned $823 million, or 62 cents per share. Analysts polled by Thomson First Call had predicted 64 cents per share. Sales of the company's hormone replacement drugs Prempro and Premarin -- both of which contain estrogen -- have tumbled since a major health study last summer linked Prempro to higher risk of heart disease, stroke and breast cancer.

Wyeth (WYE: Research, Estimates), which has struggled to meet demand for Prevnar and hemophilia drug Refacto, last month said U.S. regulators had approved a facility in St. Louis that will boost supply of Refacto.

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NEW YORK (Reuters) --The defense firm said its quarterly earnings rose as the U.S. government stepped up purchases of the company's secure communications systems for the military. The company, which also makes bomb detection systems for airports, reported fourth-quarter earnings of $79.8 million, or 79 cents a share. A year earlier, the company earned $53.5 million, or 63 cents a share. Sales, boosted by acquisitions, rose to $1.31 billion from $705.8 million.

Wall Street analysts were expecting the L-3's (LLL: Research, Estimates) earnings per share to reach between 73 cents and 82 cents, with an average estimate of 77 cents.

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CHARLOTTE, N.C. (Reuters) --The utility reported a fourth-quarter loss, as the power producer and distributor took charges for job cuts and other restructuring costs. The Charlotte, N.C. company -- which warned earlier this month of lower 2002 and 2003 earnings -- reported a fourth-quarter loss $52 million, or 6 cents a share, down from net income of $225 million, or 28 cents a share, in the year-earlier quarter.

Excluding special items, Duke (DUK: Research, Estimates) posted earnings per share of 32 cents. On that basis, analysts forecast earnings of 24 cents to 35 cents a share, with a consensus estimate of 29 cents a share, according to Thomson First Call.

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ST. LOUIS (Reuters)--The maker of store-brand food products said its quarterly earnings rose, as its food business turned in higher sales. The St. Louis-based company posted net income of $13.3 million, or 44 cents a share in the fiscal first quarter ended Dec. 31, compared with $12.8 million, or 42 cents a share, in the year-ago period. Revenue rose 7 percent to $348.3 million.

Three analysts who track the company had expected Ralcorp (RAH: Research, Estimates) to earn 47 cents a share on average, according to Thomson First Call. Separately, the company said it expected to record a second-quarter gain of $8.8 million, net of legal costs, related to a settlement of a vitamin antitrust case.