Earnings watch: LinkedIn, AIG
The social network and the insurance giant are expected to report losses for their most recent quarters.
By Joseph Woelfel, TheStreet
Updated at 8:30 a.m. ET
Social network LinkedIn (LNKD) is expected to post its second quarterly earnings report as a public company. Analysts polled by Thomson Reuters expect a loss of 4 cents a share in quarter ended in September on revenue of $127.6 million.
American International Group (AIG) is expected by analysts to post a quarterly loss of 27 cents a share on revenue of $13.6 billion. On Tuesday, AIG paid back the Treasury Department $972 million of the billions it received in a rescue package from the U.S. government in 2008.
Kraft Foods (KFT) reported a third-quarter profit of 55 cents a share, excluding costs related to the Cadbury acquisition. The company beat the 58-cent average estimate of analysts surveyed by Thomson Reuters. It also increased its full-year forecast.
NYSE Euronext (NYX) said third-quarter profit rose 54% to $186 million on strong trading volumes. NYSE said it is continuing talks with European regulators about receiving clearance for its $9 billion merger with Deutsche Boerse.
CVS Caremark (CVS) posted adjusted third-quarter earnings of 70 cents a share, beating the 67-cent average estimate of analysts. The drugstore and pharmacy benefits manager said it expects adjusted full-year earnings of $2.77 to $2.81 a share, a 2-cent increase for the bottom end of the range.
Imaging company Eastman Kodak (EK) posted a third-quarter loss from continuing operations of $222 million, or 83 cents a share, wider than a year-earlier loss of $43 million, or 16 cents. Analysts were expecting Kodak to post a loss of 42 cents a share in the third quarter. Kodak said it expects a loss from continuing operations in 2011 of $400 million to $600 million. It previously forecast a loss of $200 million to $400 million.
In other news, Costco Wholesale (COST), the warehouse retailer, said same-store sales in October jumped 9%, while total sales rose 11% to $7.01 billion.
Amazon.com (AMZN) on Thursday launched a program in which Kindle and Kindle Fire users who have Amazon Prime memberships can get access to Amazon's new digital book library service.
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