CURRENT NEWS ITEM: HOME DEPOT Q3 PROFIT DOWN 30.7%, YET TOPS ESTIMATES; BACKS FY08 EPS VIEW, CAUTIONS ON SALES - UPDATE 2

TOP - 50 RELEVANT BREAKING NEWS

1. Home Depot Q3 Profit declines; backs FY08 EPS view, revises sales outlook - Update 1

   Tuesday, Home Depot Inc, the world's largest home improvement retailer, reported a sharp decline in third-quarter profit, hurt by lower net sales as well as lower comparable store sales. However, quarterly earnings per share and top line beat market projections. Further, the company maintained its fiscal 2008 outlook for earnings decline, but said it sees more decline in sales due to continued softness in the markets and negative macro-economic conditions.

2. Next Plc Autumn Winter combined sales down; backs FY08 profit view in line with estimates - Update

   Tuesday, UK's second-largest clothing retailer Next Plc (NXT.L) reported a 1.9% decline in the combined sales of Next Retail and Next Directory for the Autumn Winter period. For the full year, the company expects profit to be in line with previous expectation and current market consensus. Next also said it expects fiscal 2009 to be challenging, with negative like for like sales, and particularly difficult first half.

3. Smith Int'l Q3 profit up, tops estimates; lifts FY08 EPS view - Update

   Tuesday, oilfield services provider Smith International Inc reported a 25.8% rise in profit for the third quarter, driven by strong double-digit revenue growth in all three divisions. Quarterly adjusted earnings per share and revenue grew from last year, and beat the market projections. Further, citing the anticipated strong growth in the fourth quarter, the company lifted its fiscal 2008 earnings forecast.

4. J. B. Hunt Q3 profit rises, EPS tops estimates; shares up - Update

   Tuesday, J. B. Hunt Transport Services, Inc reported an 18.8% rise in profit for the third quarter, principally due to higher fuel surcharge revenue together with strong results from Intermodal and Integrated Capacity Solutions segments. The Lowell, Arkansas-based transportation company's quarterly earnings per share and operating revenues grew from last year, and topped market estimates. The shares are currently trading around 13% higher on the Nasdaq Stock Exchange.

5. Baxter Q3 profit rises 19% on strong sales; boosts 2008 EPS view - update

   Thursday, Baxter International Inc. (BAX) reported a 19% growth in third-quarter profit, helped by higher sales from its bleeding and immune system disorder treatments. The medical products maker also raised its earnings forecast for the full year.

6. Johnson Controls Q4 profit plunges on restructuring charge; adj. earnings meet estimates; confirms FY09 EPS view - update

   Multi-industrial company Johnson Controls, Inc Thursday reported a sharp decline in fourth-quarter profit, hurt by a restructuring charge. Excluding the charge, earnings per share from continuing operations came in line with the company's as well as analysts' estimates. The company also provided first-quarter earnings outlook and backed its fiscal 2009 forecast.

7. B/E Aerospace Q3 profit rises; adj. EPS beats estimate; backs FY09, FY10 view - update

   B/E Aerospace, Inc. (BEAV), a maker of cabin interior products for commercial aircraft and business jets, Monday reported a 16.4% rise in its third-quarter profit, reflecting sales growth of 37.3%, driven by the acquisition of Honeywell's Consumables Solutions distribution business, or HCS, and sales increases in the distribution and business jet segments. On an adjusted basis, earnings per share grew 22.9% and beat analysts' forecast. Moving ahead, the company provided outlook for fiscal 2008 a

8. Cardinal Health Q1 profit down 17%; backs FY09 EPS view - Update

   Wednesday, Cardinal Health, Inc reported a decline in first-quarter profit, mainly due to higher special charges and expenses, despite double-digit sales growth in both of its segments. The healthcare products and services provider's adjusted earnings per share dropped 6% from last year, yet surpassed market projections. Further, the company maintained its fiscal 2009 adjusted earnings forecast, and said its spin-off planning for most of its clinical and medical products remains on target.

9. Procter & Gamble Q1 profit rises, beats estimates; Revises FY09 view - Update 1

   Wednesday, consumer products giant Procter & Gamble Co., or P&reported a 9% rise in first-quarter profit, boosted by higher volumes, prices and foreign exchange gains. Quarterly earnings per share and top line grew from last year, and beat market projections. Further, the company provided second-quarter earnings and sales forecast, and revised the fiscal 2009 view.

10. Sony Q2 profit falls sharply; backs FY09 view - update 1

    Wednesday, Japanese electronic equipment maker Sony Corp reported a 71.8% decline in its second-quarter profit, dented by several factors, including weak sales and absence of a one-time gain a year ago. The company, however, maintained its fiscal 2009 earnings and sales forecast, revised on October 23.

11. Jones Apparel Profit Tops View, Sees Weaker Sales

    Jones Apparel posted a slightly better-than-expected quarterly profit, but cautioned sales trends are in steep decline due to the financial crisis.

12. Colgate-Palmolive Q3 profit rises 19% on higher pricing, international sales; tops estimate - Update

    Consumer products giant Colgate-Palmolive Co. on Thursday reported a 19% increase in profit for the third quarter, helped by double-digit sales growth on price increases and growth in international sales. The results come even as consumers reign in their spending on non-essential items due to the economic slowdown. On an adjusted basis, earnings per share rose 17% and topped the market projections by a penny. Looking ahead, the company said it was comfortable with external profit expectations fo

13. Clorox posts higher Q1 profit; backs FY09 EPS view - update

    Consumer products maker Clorox Co Friday reported an increase in first-quarter profit, which the company attributes to strong top-line growth and cost savings. Citing higher estimated foreign currency devaluation versus dollar, Clorox lowered its fiscal 2009 sales growth target, but maintained the earnings per share guidance.

14. Emerson Q4 profit rises, tops estimates - Update

    Tuesday, Emerson Electric Co posted a 10.4% rise in fourth-quarter profit, driven by strong sales growth internationally as well as in Process Management and Network Power divisions. The St. Louis, Missouri-based company's quarterly earnings per share grew 13% from last year, and topped market projections.

15. Next 14-Week Period Sales Increase; Backs FY08 Profit Outlook - Update

    U.K. clothes retailer Next Plc Wednesday reported an increase in total sales for 14 weeks to November 1, in line with its expectations. Also, Next reaffirmed that its full-year profits would be in line with market estimates.

16. Polo Ralph Lauren Q2 profit rises 40%, tops Street view; backs FY09 EPS guidance

    Apparel maker Polo Ralph Lauren Corp. reported a 40% increase in second-quarter earnings, which beat Street expectations, driven by growth in global retail sales and European wholesale revenues as well as a lower tax rate. Meanwhile, for fiscal 2009, the company maintained its earnings target, while revising the sales forecast.

17. EADS turns to profit in Q3; Backs FY08 revenue view - Update

    Friday, European Aeronautic Defence and Space Co., or EADS N.V., (EADSY.PK, EADSF.PK) reported a profit for its third quarter compared to a loss last year, driven by a 6% revenue growth on strong market demand for aircraft as well as lower cost of sales. Further, the company confirmed its fiscal 2008 revenue forecast.

18. Brady Q1 profit up marginally; EPS tops estimate; to cut 10% of workforce in Q2; lowers FY09 earnings view - update

    Brady Corp., a maker of identification solutions and specialty products, Thursday reported a slight increase in its first-quarter profit, helped by other income and a lower effective tax rate. Earnings per share rose 4.5%, reflecting a share buyback, and came in above analysts' forecast. The company also announced a global workforce reduction of about 10% to be implemented in the second quarter. Going ahead, Brady trimmed its fiscal 2009 earnings outlook.

19. Tiffany Q3 profit down 56.9%; trims FY08 EPS, sales view - Update

    Wednesday, jewelry and specialty retailer Tiffany & Co reported a decline in profit for the third quarter in the absence of a huge gain incurred in prior-year quarter. On an adjusted basis, earnings per share from continuing operations grew 13%, despite a 6% drop in comparable store sales. Further, the New York-based company trimmed its fiscal 2008 earnings forecast below market projections, and said it is planning to reduce staffing due to lower demand.

20. Wm. Morrison Q3 Total Sales, Ex. Fuel, Up 9.5%; Backs FY09 View; Suspends Returns of Capital for Remainder of Year - Update

    British supermarket chain Wm. Morrison Supermarkets Plc Thursday reported "solid" growth in its third-quarter sales, helped by higher number of customers to its stores, and said that financial expectations for fiscal 2009 remain unchanged. The company further announced the identification of two new investment opportunities, which has resulted in Morrison halting its capital return programs for the rest of the year.

21. Cadbury backs FY08 profit growth view; to sell Australia Beverages business; names new CFO - Update

    Confectionary giant Cadbury plc (CBY, CBRY.L) Tuesday said it continues to expect strong profit growth for the year and reconfirmed its revenue and margin guidance provided in July and again in October. Additionally, the UK-based company said it has decided to sell its Australia Beverages business. In a separate statement, Cadbury said Andrew Bonfield would be its new chief financial officer.

22. General Mills Q2 Profit down, but tops consensus; Ups FY09 EPS view - Update 2

    Wednesday, packaged food supplier General Mills Inc. reported a 3.1% decline in second-quarter profit, hurt by higher mark-to-market valuation losses, despite a gain from the sale of Pop Secret business. Excluding one-time items, quarterly earnings climbed 22.5% and topped the Street view. The company also lifted its fiscal 2009 adjusted earnings per share forecast, yet the revised guidance was below the consensus estimate.

23. CRH plc sees FY08 pre-tax profit in line with forecast, backs EPS view; warns on FY09 - Update

    British building materials group CRH Plc (CRH, CHR.L) on Tuesday said it currently expects fiscal 2008 pre-tax profit to decline in mid-teen percentage, in line with the earlier-provided forecast, mainly reflecting negative business environment across the world. Meanwhile, the company maintained that it expects a lesser reduction in earnings per share. CRH added that its fiscal 2009 outlook is extremely challenging.

24. US stocks advance after IBM profit tops estimates; banks gain

    US stocks rose and the Standard & Poor's 500 Index rebounded from its worst six-day plunge since 1987 as better-than-estimated profit at International Business Machines Corp spurred speculation earnings will weather the financial crisis.

25. Grainger Q3 Profit Jumps 28%, EPS Tops Estimate; Lifts FY'08 EPS Outlook - Update

    Tuesday, industrial supply company W.W.Grainger Inc.(GWW) reported that its third-quarter earnings grew 28% over last year, with per share earnings trumping analysts' estimates by 26 cents. Based on its strong performance in the third quarter, the company also lifted its earnings outlook for the year, well above analysts' consensus.

26. Johnson & Johnson Q3 profit climbs; lifts FY08 earnings view -Update 1

    Healthcare products major Johnson & Johnson reported Tuesday a 30% rise in profit for the third quarter, boosted by absence of prior-year's restructuring charge, and strong international sales. Quarterly earnings per share and top line surpassed market projections. Further, the company lifted its fiscal 2008 adjusted-earnings per-share forecast.

27. Polaris Industries Q3 profit down; EPS up, beats estimates; issues Q4 outlook; lifts FY08 EPS guidance - Update

    Tuesday, Polaris Industries Inc reported a 2.9% drop in net profit for the third quarter, reflecting higher operating expenses and a flat gross margin amid difficult economic environment. However, quarterly earnings per share rose 6.6% from last year on lower share count, and beat market projections. Further, the manufacturer of all-terrain recreational, utility and side-by-side vehicles issued fourth-quarter forecast and raised its fiscal 2008 earnings guidance.

28. Genentech profit rises, sales top estimates

    NEW YORK (Reuters) - Genentech Inc reported on Tuesday that sales of its cancer drug Avastin topped Wall Street estimates and its shares rose more than 3 percent, despite third-quarter earnings that fell short of analyst expectations due to higher costs.

29. Pearson 9-Month headline sales up 12%; sees FY08 Adj. EPS towards top end of market estimates - Update

    Wednesday, UK-based education and information company Pearson Plc (PSO, PSON.L) said it continued to perform well in the third quarter. In its trading update, the company stated that headline sales for the first nine months of fiscal 2008 grew 12%, and 8% in constant exchange rates. Further, Pearson said it is trading in line with expectations, and that fiscal 2008 adjusted earnings per share are estimated to be toward the top end of current market estimates, based on stability in the recent str

30. Coca-Cola Q3 profit rises 14% on strong international growth, tops estimate - Update 2

    Beverages giant Coca-Cola Co. announced Wednesday morning that third quarter profit rose 14% from last year, driven by 5% rise in volume, mainly on international operations. Earnings per share, on an adjusted basis, rose 17% and topped analysts' estimate by six cents, while quarterly revenues grew 9%, but missed consensus.

31. Abbott Q3 profit rises 51%; Adj. EPS tops consensus; lifts FY08 EPS outlook - Update

    Healthcare products maker Abbott Laboratories on Wednesday reported a 51% increase in its profit for the third quarter, driven by strong sales of its arthritis drug Humira and its Xience V drug eluting stent. Adjusted earnings per share for the quarter increased almost 18% and came in above analysts' consensus estimate by two cents. Buoyed by the results, the company raised its fiscal year 2008 earnings outlook for a second time.

32. JPMorgan Chase Q3 profit plummets; cautions reduced earnings for few quarters - Update 2

    Wednesday, global financial services firm JPMorgan Chase & Co. reported a third-quarter profit that plunged 84% from the year-ago period, along with a drop in revenues. The company noted that the decline was driven by markdowns on mortgage trading positions and leveraged loans, and higher credit costs due to continued deterioration in its home-lending portfolio. However, the results exceeded analysts' expectations of a loss for the quarter. Additionally, the company noted that it is reasonable t

33. Coca-Cola Q3 profit up, beats estimates - Update 1

    Wednesday, beverages giant Coca-Cola Co reported a 14% rise in profit for the third quarter, driven by 5% rise in volume, mainly on international operations. The company's quarterly earnings per share, on an adjusted basis, rose 17% and beat market projections. Meanwhile, top line missed analysts' estimate, even though recorded a 9% growth. Further, the company said its International operations continue to drive growth, while it continues to expect challenging operating environment especially in

34. Hershey Q3 profit surges 98%; backs FY08 forecast - Update

    Chocolate maker Hershey Co. Thursday reported a 98% increase in third quarter profit, as sales grew 6.4%, helped by the recent price increases. However, on a non-GAAP basis, earnings missed analysts' consensus estimate by a penny. The Hershey, Pennsylvania-based company said reported net income for the third quarter of 2008 surged to $124.54 million or $0.54 per share from $62.78 million or $0.27 per share in the previous year. Consolidated third quarter net sales rose to $1.490 billion from $1.

35. United Technologies Q3 profit rises, tops estimate by a penny; raises Lower-end of FY08 EPS Forecast - Update 2

    Diversified conglomerate United Technologies Corp. (UTX) announced Thursday morning that profit for the third quarter rose 6% from last year, helped higher operating margins and four of six business segments reporting double digit earnings growth. Earnings per share for the quarter rose 10% and topped analysts' estimate by a penny. However, quarterly revenues increased 7%, but missed consensus. The company also raised the lower end of its prior earnings per share estimate for fiscal 2008.

36. PPG Industries Q3 profit falls despite double-digit growth in sales; shares down - Update

    Thursday, PPG Industries Inc reported a 38.7% fall in profit for the third quarter, reflecting higher one-time charges, costs and expenses. On an adjusted basis, quarterly earnings per share remained flat with last year, yet topped market projections. The company reported a 37% rise in top line, boosted by strong performance from Performance Coatings and Industrial Coatings divisions. The shares are currently trading around 6% lower on the New York Stock Exchange.

37. United Technologies Q3 profit rises 6%; tops estimate by a penny; lifts Lower-end of Full Year Outlook - Update 1

    Diversified conglomerate United Technologies Corp. announced Thursday morning that profit for the third quarter rose 6% from last year, helped higher operating margins and four of six business units reporting double digit earnings growth. Earnings per share for the quarter rose 10% and topped analysts' estimate by a penny. However, quarterly revenues increased 7%, but missed consensus. The company also raised the lower end of its prior earnings per share estimate for fiscal 2008.

38. Aggreko Q3 Revenue Jumps 39% on Higher Demand; Expects FY08 Profit to Beat Market Estimates - Update

    British temporary power provider Aggreko Plc Thursday said its third-quarter revenues grew better-than-expected at 39%, or 30% in constant currencies, as demand increased following the Beijing Olympics and hurricanes in the U.S. Aggreko now expects 2008 pre-tax profit above market estimates and be at least 50% higher than 2007. Aggreko is also creating a new Europe & Middle East region from the merger of its Middle East local business and European local business, and has hired Bill Caplan to hea

39. Eaton Q3 profit up; issues Q4 earnings forecast; trims FY08 EPS view - Update 2

    Monday, diversified power management company Eaton Corp reported a 22% increase in third-quarter profit, driven by strong double-digit sales growth contributed mainly by acquisitions. Quarterly operating earnings per share, excluding charges, rose 9% from last year on higher share count, and beat analysts' estimates. Further, the Cleveland, Ohio-based company provided a sequentially lower fourth-quarter earnings forecast, and trimmed its fiscal 2008 view.

40. Eaton Q3 profit climbs; guides Q4 earnings; cuts FY08 EPS view - Update 1

    Monday, diversified industrial manufacturer Eaton Corp reported a 22% increase in third-quarter profit, driven by strong double-digit sales growth contributed mainly by acquisitions. Quarterly operating earnings per share, excluding charges, rose 9% from last year on higher share count, and beat analysts' estimates. Further, the company provided a sequentially lower fourth-quarter earnings forecast, and trimmed its fiscal 2008 view.

41. Hasbro Q3 profit drops, yet tops estimate - Update

    Monday, Hasbro, Inc., a manufacturer of games and toys, reported a decline of over 14% in its third-quarter profit in the absence of a huge year-ago tax benefit.

42. Novartis Q3 net profit drops; income from cont.ops up 32%; backs FY08 forecast - Update 1

    Swiss healthcare company Novartis AG reported a 69% decline in its third-quarter net income, hurt by considerably lower returns from the discontinued Consumer Health operations. Meanwhile, income from continuing operations increased 32%, driven by strong segmental sales, mainly in Pharmaceuticals unit. The company also announced the appointment of Joerg Reinhardt as its new chief operating officer. Further, the drug maker reaffirmed its full year 2008 expectation for record net sales and earning

43. Forest Labs Q2 Profit Rises 8%; EPS Tops Estimate; Lifts FY09 EPS Outlook Above Consensus - Update

    Tuesday, drug maker Forest Laboratories, Inc. (FRX) posted better-than-expected second-quarter earnings, helped by higher sales of antidepressant Lexapro and Alzheimer's disease drug Namenda.

44. DuPont Q3 profit declines on charges; issues Q4 adj. EPS outlook; cuts FY08 earnings view - Update 2

    Tuesday, science and technology company E. I. du Pont de Nemours and Co, or DuPont, reported a 30% decline in profit for the third quarter, impacted by a hurricane-related charge, as well as higher raw material costs and lower volume. The company provided fourth-quarter adjusted earnings forecast and lowered its fiscal 2008 earnings view.

45. Omnicom Q3 profit rises 5.6% on strong international sales - update

    Omnicom Group Inc. (OMC), a marketing and corporate communications company, reported a 5.6% growth in third-quarter profit on strong international sales. Earnings per share surpassed analysts' estimates by a penny, while revenues came in line.

46. DuPont Q3 profit declines on charges; issues Q4 adj. EPS outlook; cuts FY08 earnings view - Update 1

    Tuesday, science and technology company E. I. du Pont de Nemours and Co, or DuPont, reported a 30% decline in profit for the third quarter, impacted by a hurricane-related charge, as well as higher raw material costs and lower volume. The company provided fourth-quarter adjusted earnings forecast and lowered its fiscal 2008 earnings view.

47. Debenhams FY08 profit falls, cuts dividend; like-for-like sales for first 6 weeks of FY09 down 4.2% - Update

    Tuesday, UK-based department store chain Debenhams Plc announced fiscal 2008 preliminary results, reporting a decline in profit on lower like-for-like sales amid tough trading environment throughout the UK retail sector. Further, the company said its like-for-like sales for the six weeks to October 11 declined 4.2%. The company also lowered its final dividend substantially from last year.

48. Sigma-Aldrich Q3 Profit Rises On Revenue Growth; Backs FY08 EPS Forecast - Update

    Tuesday, specialty chemicals manufacturer Sigma-Aldrich Corp. (SIAL), reported a third-quarter profit that increased on a 7.4% increase in revenues, helped by sales growth in all business segments, as well as currency exchange benefits. Earnings per share increased 18.5% from last year, however, missed analysts' estimate by a cent. Sigma-Aldrich also reaffirmed its earnings outlook for fiscal 2008.

49. Northrop Grumman Q3 Profit Rises On 6% Sales Growth; Boosts FY08 Outlook - Update 2

    Wednesday, Defense contractor Northrop Grumman Corp. (NOC) reported a 5% increase in third-quarter profit on a 6% sales growth, helped mainly by higher Information & Services sales. Further, the company raised its fiscal 2008 earnings and sales guidance, reflecting strong quarterly results and backlog.

50. Boeing Q3 profit plunges on machinists' strike, misses estimates - Update 1

    Wednesday, aircraft maker Boeing Co reported a 38% decrease in profit for the third quarter, hurt by ongoing machinists' strike and supplier production challenges that reduced commercial deliveries. Quarterly earnings per share missed market projections, while top line, despite a decline, beat analysts' estimates. Boeing said it will provide updated financial guidance after the strike ends.