Market News

Norfolk Southern (NSC)

Norfolk Southern Corporation today reported third quarter net income of $303 million, or $0.81 per diluted share, compared with $520 million, or $1.37 per diluted share, for the third quarter of 2008. Third-quarter railway operating revenues were $2.1 billion, down 29 percent, compared with the third quarter of 2008, primarily the result of a 20 percent reduction in traffic volume and lower fuel-related revenues.
The company's CEO said the company's third-quarter results reflect the continuing weak economy, but also show Norfolk Southern's "resilience and the strength of our franchise."

Oct 27 · 8:00:00 PM · Source: Company News Release
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by Larry Etter

Armstrong World Industries (AWI)

Armstrong World Industries, Inc., a manufacturer of flooring and ceiling products, said its third-quarter net earnings increased to $64.4 million or $1.12 per share from $38.9 million or $0.68 per share a year ago. Third quarter 2009 net sales of $753.0 million were down 19 percent from $929.6 million in the same period for 2008.
The company expects fiscal 2009 results above the current estimates of Wall Street analysts.

Oct 27 · 7:55:00 PM · Source: Company News Release
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by Larry Etter

Honeywell (HON)

Honeywell today announced that its process control technology was selected by Valorly, a division of the French utility Suez Environnement, to help increase the amount of thermal and electrical energy Valorly generates from residential waste.
The resulting renewable energy will help meet 2020 European Union commitments for heat and transport sector requirements. The project involves the migration of Valorly's existing process control system to Honeywell's Experion® Process Knowledge System and will be undertaken at Valorly's Rillieux-la-Pape production plant.

Oct 27 · 4:48:00 PM · Source: Reuters
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by Michael Oliveto

General Dynamics (GD)

General Dynamics has been awarded a $110.3 million contract to modernize classroom training technology by the U.S. Army Headquarters Training and Doctrine Command (TRADOC).
This is a one-year task order awarded under the Information Technology Enterprise Technology Solutions -2 Services (ITES-2S) contract. The program will deliver a digital platform for schoolhouse instructors to conduct training and communicate from the schoolhouse to remote training facilities and Reserve components.

Oct 27 · 2:13:00 PM · Source: Reuters
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by Michael Oliveto

Caterpillar (CAT)

Caterpillar said about 2,500 laid-off employees will be permanently cut from the company and 550 others will be brought back to work by the end of next year.
The workers are among more than 22,000 laid off earlier this year as Caterpillar dramatically scaled back production because of weaker demand amid the global economic downturn.

Oct 27 · 12:19:00 PM · Source: Herald Tribune
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by Michael Oliveto

Avery Dennison (AVY)

Avery Dennison Corp. said Tuesday its third-quarter profit was $62.5 million, or 59 cents a share, compared to $62.7 million, or 63 cents a share, in the year-ago period. Sales fell to $1.55 billion, from $1.72 billion last year.
The company slightly topped Street estimates.

Oct 27 · 11:27:00 AM · Source: Company News Release
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by Larry Etter

Textron (TXT)

Textron said today that its third quarter net income fell to $4 million, or 1 cent a share, from $206 million, or 83 cents, a year earlier. Third-quarter sales fell 27 percent to $2.55 billion.
Profit exceeded analysts’ estimates as savings from job cuts helped compensate for reduced production.

Oct 27 · 11:07:00 AM · Source: Company News Release
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by Larry Etter

Crane Company (CR)

Crane Co., a diversified manufacturer of highly engineered industrial products, reported third quarter 2009 net income attributable to common shareholders of $35.1 million, or $0.60 per diluted share, compared to third quarter 2008 net income attributable to common shareholders of $36.1 million, or $0.60 per diluted share. Third quarter 2009 sales of $551 million decreased $92.0 million, or 14%, which included a core sales decline of $100.5 million (15%) and unfavorable foreign currency translation of $17.8 million (3%), partially offset by an increase in sales from acquired businesses of $26.3 million (4%).

Oct 26 · 7:56:00 PM · Source: Company News
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by Larry Etter

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