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Usg Corporation (USG)

USG Corporation (NYSE:USG), a leading building products company, today reported third quarter 2009 net sales of $822 million and a net loss of $94 million, or $0.96 per diluted share. For the same period a year ago, the corporation recorded net sales of $1.2 billion and a net loss of $36 million, or $0.36 per diluted share.
USG's CEO said USG's businesses continued to experience weak demand that resulted in lower sales in the third quarter. "In response to the steep sales declines over the past year we have focused intensely on customer satisfaction, cost reductions, product margins and liquidity. These initiatives have been effective in mitigating operating losses caused by dramatically lower demand. We have also been successful in generating cash from our operating activities and managing liquidity.”

Oct 21 · 10:20:00 AM · Source: Business Wire
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by Larry Etter

Koninklijke Philips Electronics, N.v. (PHG)

Philips Electronics (NYSE:PHG, AEX: PHI) today confirmed U.S. retail availability for its much-anticipated Wireless HDTV Link (SWW1800/27) that uses innovative technology to wirelessly deliver superior high-definition TV picture quality (up to 1080p) without ruining the aesthetics of the home. Unsightly wires are a digital burden of the past with the Philips Wireless HDTV Link which replaces the cables that connect the HD cable set-top box, HD satellite receiver, Blu-ray player and gaming console to a HDTV.

Oct 21 · 10:18:00 AM · Source: Business Wire
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by Larry Etter

Lockheed Martin (LMT)

Lockheed Martin Corp (LMT.N) posted better-than-expected quarterly profit aided by a lower tax rate and share count on Tuesday, but revenue missed Wall Street estimates and the defense contractor warned earnings would drop in 2010, sending its shares down more than 5 percent.
But, Goldman Sachs analyst Noah Poponak said it is "difficult to find any positives" in the results." "Similar to last quarter's disappointment, we believe results indicate that the tides are changing in defense vs. the weaker-than-expected results being attributable to company- specific issues."

Oct 20 · 11:44:00 AM · Source: Reuters
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by Larry Etter

Caterpillar (CAT)

Caterpillar Inc. (CAT) exceeded third-quarter profit expectations by a wide margin as the company slashed its costs in response to continued falling sales of construction machinery. The company's revenue in the quarter plunged 44% from a year ago, while income fell 53%. But Caterpillar said its sales skid has likely reached a bottom, prompting the company to narrow its profit range for 2009 and predict revenue this year would be about $32.5 billion, the lower end of its earlier range.
The company now expects to earn $1.85 per share to $2.05 a share, excluding costs for layoffs and idle plants, compared with its previous prediction of $1.15 per share to $2.25 per share

Oct 20 · 10:41:00 AM · Source: Dow Jones
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by Larry Etter

UAL Corp. (UAUA)

United Airlines parent UAL Corp. reported a third quarter loss of $57 million, or 39 cents a share, compared to a loss of $792 million, or $6.62 a share, in the same period a year ago. Revenue fell 20% to $4.4 billion from $5.6 billion.
"Against a challenging environment, our people are delivering improvements across the business," said Glenn Tilton, chairman and chief executive. "With the work we have done and the strength of our network, we are poised to see better year-over-year unit revenue performance as economies begin to recover and business travel returns."

Oct 20 · 9:36:00 AM · Source: Market Watch
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by Rich Pike

Eaton (ETN)

Eaton Corp. reported a 39% drop in third-quarter profit, as cost cuts failed to offset the impact of the auto-industry slump.
But the maker of electrical systems and hydraulics boosted its full-year earnings view, as the results topped its target. The company had slashed its 2009 projection in July.

Oct 19 · 9:36:00 AM · Source: Wall Street Journal
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by Larry Etter

GE (GE)

GE Consumer & Industrial's electrical business recently signed a "strategic alliance agreement" with Validus DC Systems, LLC, a leading provider of fully integrated Direct Current (DC) power infrastructure for datacenters and telecommunications facilities, to promote the new Validus DC Data Center System using advanced GE electrical components.
In addition to providing improved end-to-end reliability, the new system can lower facility costs for equipment, real estate and energy, effectively reducing the total cost of ownership by 30 to 50 percent.

Oct 19 · 9:23:00 AM · Source: Business Wire
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by Larry Etter

ITT (ITT)

ITT Corporation (NYSE: ITT) has been awarded a $72 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract for its Aviator’s Night Vision Imaging Systems, night vision tubes and spare parts.
With this most recent award, ITT remains the sole supplier of aviation goggles and tubes to the U.S. Army.

Oct 16 · 4:32:00 PM · Source: Business Wire
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by Larry Etter

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