Market News

FedEx (FDX)

FedEx said its express parcel delivery business in China continues to gain market share, but competition with local rivals remains very tough.
The company is seeing "good growth" in its business in China, which it launched in 2007, said David Cunningham, Jr., Asia-Pacific president of FedEx's core express segment. “We aren't the price leader from the standpoint of (having) the lowest prices but we have to be competitive...in the marketplace," Cunningham said. He declined to provide specific figures on the China business.

Oct 23 · 3:07:00 PM · Source: NASDAQ
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by Michael Oliveto

Burlington Northern Santa Fe (BNI)

Burlington Northern Santa Fe reported Q3 earnings of $1.42 per share on net income of $488 million versus earning of $1.99 per share on net income of $695 million in the year ago period.
“During the recession, BNSF has demonstrated significant operating leverage through ongoing dedication to controlling costs and productivity improvements,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer. “The combination of our significant operating leverage and long-term market opportunities places BNSF in a strong position when the economy recovers.”

Oct 23 · 12:41:00 PM · Source: Press Release
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by Michael Oliveto

L.B. Foster (FSTR)

L.B. Foster Company today reported third quarter 2009 net sales decreased 36.5% to $92.4 million compared to $145.6 million in the prior year quarter. Net income of $6.1 million or $0.60 per diluted share compared to net income of $8.1 million or $0.76 per diluted share in the third quarter of 2008.
All of the company segments posted significant declines in net sales for the third quarter.

Oct 23 · 11:35:00 AM · Source: Company News
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by Larry Etter

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
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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
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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
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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
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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
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by Larry Etter

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