ELI LILLY PROFIT RISES 38%
Drugmaker’s 3Q earnings climb to $1.3 billion, or $1.18 a share, as the company rebounds from a year-earlier quarter hamstrung by $549.8 million of charges, and revenue edges up 1.7% to $5.65 billion.
US STOCK FUTURES GAIN ON EARNINGS OPTIMISM
U.S. stock futures rise, as strong company earnings boost sentiment on Wall Street. A slew of heavyweights, including Caterpillar, McDonald’s, and Travelers deliver earnings ahead of opening bell.
GOLDMAN SACHS MAY REPAY $5B IOU TO BERKSHIRE
Goldman Sachs considers paying back a $5 billion investment from Berkshire Hathaway that bolstered the securities firm during the worst of the financial crisis, people familiar with the situation tell The Wall Street Journal.
TRAVELERS UPS GUIDANCE AFTER PROFIT RISES 7.5%
Insurer raises its full-year guidance after 3Q results beat the consensus estimate of analysts. Travelers results are driven by higher investment gains and a near-total absence of the catastrophic hurricanes that typically plague insurers in 3Q.
XEROX PROFIT SURGES ON HIGHER REVENUE
Xerox 3Q earnings more than double to $250 million, or 17c a share, as revenue jumps 48% to $5.43 billion, on benefits from its acquisition of Affiliated Computer Services.
US SEEKS GLOBAL PACT FOR BIG BANKS
Some top U.S. officials, including Treasury Secretary Timothy Geithner, are wary of imposing additional capital requirements on large U.S. firms unless other countries follow suit.
CREDIT SUISSE 3Q PROFIT SLIDES, MISSES ESTIMATES
Credit Suisse Group says 3Q profit shrinks, hit by losses on its own debt and a lull in volumes at its securities unit and as wealthy private clients hold back from investments. The figure misses analyst estimates.
AKZO NOBEL’S QUARTERLY PROFIT BOOSTED BY CHEMICALS
Akzo Nobel says housing and construction markets remain soft, as it reports a forecast-beating net profit for the 3Q supported by strong demand at its chemicals business that offset lower profitability at its paints and coatings businesses.
PNC PROFIT NEARLY DOUBLES ON GAIN, TOPS VIEWS
Bank’s 3Q profit jumps to $1.1 billion, or $2.07 a share, after a gain from the sale of its investment-servicing business, but its adjusted results easily top estimates. Loan-loss provision was nearly halved to $486 million.
CONOCOPHILLIPS MAY SELL MORE THAN $10B IN ASSETS
ConocoPhillips could sell more than $10 billion in assets as part of a previously announced two-year restructuring plan to shore up its finances, Chief Executive Jim Mulva tells CNBC.
HERSHEY NET RISES 11%; RAISES YEAR EPS VIEW
Maker of Hershey’s Kisses and Reese’s Peanut Butter Cups posts 3Q profit of $180.2 million, or 78c a share, on higher margins and a 4% increase in sales to $1.55 billion. It also boosts its 2010 EPS forecast to $2.52-$2.56 from $2.47-$2.52.
Source: Dow Jones Newswires