Earnings watch: GE, McDonald's
General Electric meets forecasts, while McDonald's beats estimates as global sales rise.
By Andrea Tse, TheStreet
General Electric (GE) earnings rose 57% to $3.22 billion in the third quarter, up from $2.06 billion a year earlier. Operating earnings in the quarter were 31 cents a share, meeting the estimates of analysts.
McDonalds (MCD) posted earnings of $1.45 a share in the third quarter on revenue of $7.2 billion, and global same-store sales were up 5%. The top and bottom line were an improvement from the year-ago quarter, when the fast-food giant earned $1.29 a share on revenue of $6.3 billion. Analysts had expected $1.43 per share on revenue of just over $7 billion.
Chipotle Mexican Grill (CMG) posted third-quarter earnings of $60.4 million, or $1.90 a share, beating Wall Street's estimate of $1.85. Chipotle said it expects new store openings for 2011 to come in at the high end of a range of 135 to 145, with same-store sales expected to grow in the low double digits.
Microsoft (MSFT) reported an in-line profit for its first quarter, with revenue rising 7% year over year because of strong sales from its business division. The software giant said it earned $5.74 billion, or 68 cents a share on revenue of $17.37 billion. Analysts were expecting earnings of 68 cents per share and revenue of $17.25 billion. (Microsoft owns and publishes MSN Money.)
Related Articles
- 5 cars that reveal Chevrolet's future
- Buffett's favorites draw mixed reviews
- 5 dumbest things on Wall Street
Aerospace products and services company Honeywell (HON) raised its full-year sales outlook to $36.50 billion to $36.7 billion, up about 13% over last year's sales. The company also raised its earnings-per-share outlook to $4 to $4.05, up 33% to 35% over last year's earnings, after reporting third-quarter profit of $1.10 a share, which beat the average analyst estimate of $1 a share.
Verizon Communications (VZ) is targeting full-year adjusted earnings-per-share growth in the single digits ranging from 5% to 8% and single-digit revenue growth of 4% to 8% from the previous year. The company reported third-quarter profit of 56 cents a share, edging past the Wall Street consensus target of 55 cents a share.
Semiconductor company Altera (ALTR) said fourth-quarter revenue will likely be down 7% to 11% sequentially, after reporting third-quarter earnings of 57 cents a share, which missed Wall Street estimates by 2 cents. The third-quarter announcement didn't come as much of a surprise to investors, as the company had already lowered third-quarter guidance last month. During the quarter, Altera repurchased 4.8 million common shares.
Insurance company Chubb (CB) lowered its full-year operating income per-share guidance to a range of $5.10 to $5.20 from the previous range of $5.55 to $5.85 after reporting that its third-quarter operating income per share declined to 88 cents from $1.69 last year. Analysts, on average, were expecting earnings of 78 cents a share.
BJ's Restaurants (BJRI) reported third-quarter earnings of 24 cents a share, meeting estimates.
Flash memory maker SanDisk (SNDK) reported adjusted earnings of $292 million, or $1.20 a share, on revenue of $1.42 billion, up 15% year over year and 3% and a sequential basis. The average estimate of analysts was for a profit of $1.07 a share on revenue of $1.42 billion in the period.
MORE ON MSN MONEY
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.
LATEST POSTS
Try as the bears might, they couldn't break US stocks. But investors still face frothy prices and considerable headwinds.
FIDELITY VIEWPOINTS
- How to sell covered calls - Fidelity Investments
- Savvy year-end tax moves to consider now - Fidelity Investments
- Seven ways to prepare for tax changes
- Five reasons an annual review is crucial - Fidelity Investments
- Take a look at mid caps now - Fidelity Investments
- State of the sector: Health care - Fidelity Investments
VIDEO ON MSN MONEY
ABOUT
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.

