Market News

Horizon Lines, Inc. (HRZ)

Horizon Lines Friday reported that net income for the third quarter totalled $8.4 million, or 27 cents a share, down from $11.1 million, or 37 cents a share, reported last year. Operating revenue fell about 13 percent to $308.0 million.
The container shipping company said volumes were down 5.7 percent from last year, but noted that it was an improvement over the past three quarters and volume performance indicates that it might be coming off the bottom.

Oct 23 · 11:23:00 AM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Ingersoll-Rand (IR)

Ingersoll-Rand Plc Friday reported that its third-quarter net earnings were $216.6 million, or $0.65 per share, compared to net earnings $227.7 million, or $0.70 per share in the year ago quarter. Third-quarter 2009 earnings from continuing operations, excluding approximately $10 million of pre-tax restructuring costs, was $0.70. Adjusted net earnings attributable to the company for the latest quarter were $223.2 million or $0.67 per share. Net revenues for the quarter decreased 19% to $3.483 billion, from $4.313 billion for the 2008 third quarter.
The company now expects full-year 2009 adjusted earnings per share from continuing operations to be in the range of $1.60 to $1.70, compared to prior guidance of $1.50 to $1.80, reflecting lower fourth-quarter revenues.

Oct 23 · 10:24:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Honeywell (HON)

Honeywell International Inc., the maker of controls for planes and buildings, said third-quarter profit fell 15 percent to $608 million, or 80 cents a share, from $719 million, or 97 cents, a year earlier. Third quarter 2009 sales were $7.7 billion, in line with expectations, versus $9.3 billion in the third quarter last year
The company topped analysts’ estimates as cost savings at its largest units helped compensate for lower demand.

Oct 23 · 10:09:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

GE (GE)

General Electric has received a $400 million order to supply equipment to the world's biggest new liquefied natural gas development, being built by Chevron Corp in Australia.
The company said on Wednesday that it had been tapped to provide compressors to compress the gas and sequester carbon dioxide released during its production. Chevron and partners Exxon Mobil Corp and Royal Dutch Shell expect the project to cost some $37 billion to build.

Oct 22 · 2:21:00 PM · Source: Reuters · Related: Chevron
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Standard Register (SR)

Standard Register’s (NYSE: SR) board of directors declared on Wednesday, October 21, 2009, a quarterly dividend of $0.05 per share to be paid on December 4, 2009, to shareholders of record as of November 20, 2009. The board will consider future dividend payments on a quarter-by-quarter basis in accordance with its normal practice.

Oct 22 · 12:56:00 PM · Source: Business Wire
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Barnes Group Inc. (B)

The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of 8 cents ($0.08) per share. The dividend will be payable December 10, 2009, to shareholders of record at the close of business on November 30, 2009.

Oct 22 · 12:38:00 PM · Source: Business Wire
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Boeing (BA)

Boeing Capital, a unit of The Boeing Company is planning to sell $1 billion in notes in a two-part sale.
The offering is expected to include five-year and 10-year notes. The joint lead managers on the sale are Credit Suisse, Goldman Sachs and JP Morgan.

Oct 22 · 10:56:00 AM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto