Earnings watch: Pfizer, Dunkin' Brands
The drugmaker reports better-than-expected results. Dunkin' Donuts' parent company posts a loss on IPO charges and debt payments.
By Andrea Tse, TheStreet
Pfizer (PFE) reported adjusted earnings of 62 cents a share as revenue rose 7% to $17.2 billion for the third quarter and raised its 2011 guidance. Analysts were expecting a profit of 56 cents on revenue of $16.4 billion. Shares were surging 1.6% to $19.57 ahead of Tuesday's open.
Dunkin' Brands (DNKN), the parent company of Dunkin' Donuts and Baskin-Robbins, reported a loss in net income of 61% in the third quarter. The company cited charges related to going public and paying down its debt. But earnings were 28 cents per share without the special items, beating analysts' estimates of 25 cents. Revenue rose 9% to $163.5 million, also beating a forecast of $159.3 million. Shares were down nearly 3% at $28.25.
Shares of Credit Suisse (CS) were falling 8.7% to $26.44 after the Swiss bank missed profit projections with third-quarter earnings of 683 million Swiss francs ($769 million). The company also announced it will reorganize its securities division and cut 1,500 more jobs. The reductions are in addition to the 2,000 Credit Suisse announced in July.
Satellite radio company Sirius XM (SIRI) reported third-quarter revenue of $763 million, missing the average estimate of $764.3 million. Third-quarter profit came in at 2 cents a share, compared with the Wall Street target of 1 cent. Shares were down 1.1% to $1.77.
Anadarko Petroleum (APC) reported a third-quarter profit of 66 cents a share, narrowly missing the average analyst estimate of 67 cents a share.
Insurance giant Allstate (ALL) beat Wall Street's profit expectations despite a spike in catastrophe losses related to Hurricane Irene and Tropical Storm Lee. The company reported an operating profit of $84 million, or 16 cents a share, for the third quarter, down from a year-ago equivalent of $452 million, or 83 cents. However, the company beat the average analysts' estimate of 8 cents a share.
In other company news, federal regulators are investigating broker-dealer MF Global (MF) after millions in customer funds had "gone missing" in recent days, according to The New York Times.
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The auto parts giant beats Wall Street expectations, while continuing to expand its stores in the U.S. and Mexico.
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