Shares of E.I. du Pont de Nemours, or DuPont, fell 8%, or $2.89, to $33.91 on Tuesday after the chemicals maker reported better than expected third-quarter earnings, but reduced its full-year estimates to account for the continuing impact of hurricane-related business interruptions and expectations for weaker sales.
The big fiber optic equipment maker JDS Uniphase lowered revenue estimates for the current quarter, citing the continuing slump in spending by communications companies.
Earnings have been better than many analysts expected, and estimates for future quarters continue to rise.
If such strong momentum continues, our sales estimates for the year could increase by around £20m and we will upgrade our underlying EBITDA estimates by around £2m to £21m; this would see our underlying earnings per share estimate for stock increase from 2.8p to 3.2p.
Estimates for the final death toll from France's record-breaking heatwave continued to soar yesterday, with the country's largest undertakers estimating that 13,600 more people may have died this month than usual.
"If this trend continues for any period of time, analysts' estimates for the third quarter and fourth quarter could prove to be high".
MetLife said it was scaling back its profit estimates for the rest of the year because the decline in stocks would probably continue to reduce its investment income.
For the fourth quarter, the company estimates earnings from continuing operations will be $1.03 to $1.07 a share.
Should the pace of inventory accumulation continue to slow in the next two months, that could temper the upbeat growth estimates for the fourth quarter.
I mean, for example, my estimate for some time continues to be that the S&P earnings this year, operating earnings, will probably be about $40 a share.
