Once again today we had a slew of companies reporting their earnings so I wanted to provide a brief breakdown of some of the most notable reports.
Notable Earnings
- E Trade Financial Corporation (Nasdaq:ETFC) The company reported its first quarterly loss in five years and slashed estimates for 2007 to 75-90 cents from $1.05 to $1.15.
- Washington Mutual (NYSE:WM) Profits fell 72% year over year. Earnings fell
in all four of its major units. - eBay Inc. (Nasdaq:EBAY) The company reported impressive earnings for its third quarter, but the outlook was more cautious as the company said it is concerned that margins may fall.
- The Coca Cola Company (NYSE:KO) Coke reported impressive earnings, boosted by terrific international sales.
- The Allstate Corporation (NYSE:ALL) Allstate missed analysts estimates as the company said storm damages expenses doubled from the same period a year ago.
- Noble Corporation (NYSE:NE) The offshore oil and gas driller topped wall street estimates and improved their margins quite nicely.
- BlackRock (NYSE:BLK) Blackrock bested estimates after the company wisely shifted into safe havens during the credit market turmoil this summer.
Tommorrow brings what will be the busiest day of the earnings season thus far, so stay tuned and I will provide another roundup tommorrow evening.
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