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The bid is more than $4 a share below TRW's current market value.
Both annual forecasts were a penny a share below Wall Street expectations.
Morgan Stanley reported profit from continuing operations of 5 cents a share, below expectations.
Fourth-quarter profit is expected to be $2.22 to $2.32 a share, below forecasts for $2.36, Federated said.
Merrill projected profits of 52 to 57 cents a share, below analysts' expectations of 82 cents a share.
Dick's expects first-quarter earnings of 16 cents to 19 cents a share, below analysts' average estimate of 23 cents.
It was much gloomier than anticipated, as much as 17 cents a share below Wall Street expectations.
Xerox predicted first-quarter earnings of 16 to 20 cents a share, below the 24 cents analysts said they expected.
For 2009, the company forecast earnings of $2.25 to $2.75 a share, below the current Wall Street outlook of $2.82.
Costco said its third-quarter profits rose 14percentt but fell a penny a share below expectations.
Earnings from continuing operations were 72 cents a share, below the company forecast of at least 75 cents.
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CEO of Professional Science Editing for Scientists @ prosciediting.com