A slew of earnings just came out:- United Technologies Corp. (NYSE: UTX) reported a 20% increase in profit for the third quarter, earning $1.21 per share, and beating estimates of $1.16 per share. Shares are currently nearly flat.
- Altria Group Inc. (NYSE: MO) reported third-quarter profit fell 8.4%, but income from continuing operations rose 18.1%. The company also raised its full-year earnings guidance. The company beat per share earnings by reporting $1.21 EPS higher than the $1.14 expected. Shares are up over 0.9% in premarket trading.
- The Coca-Cola Co. (NYSE: KO) reported a 13% increase in third-quarter profit on a double-digit increase in sales, beating Wall Street expectations.
- JPMorgan Chase & Co. (NYSE: JPM) shares are rising over 3% in premarket action after the nation's third-largest bank managed to turn out a 2% profit rise in the third quarter despite rocky market conditions and a rough lending climate. Earnings per share came to 97 cents, up 5% from 92 cents last year and handily beating the 90 cents per share analysts had expected.
Along with Apple, and following Intel and Yahoo!'s strong results yesterday, many other tech stocks are trading higher in premarket action including Google, which reports tomorrow an is up over 2%, eBay, which reports after the close today and is up over 3%, and Amazon which is up over 2%. Barring any surprises, expect today to be a strong one for tech and the Nasdaq to lead gains. Many analysts have been raising target prices on Intel and Yahoo! this morning.
The Walt Disney Co (NYSE: DIS) is planning to spend $1.1 billion over five years to overhaul its California Adventure theme park, the Wall Street Journal reports.
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