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Mr. Gore is basing his proposal on the expectation that the federal budget surplus outside of Social Security, already forecast to range from $750 billion to $2 trillion, will expand by perhaps $1 trillion.
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It also forecast 2010 revenue to range from $54 billion to $55 billion, up from $53 billion this year.
For the third quarter, the company forecast adjusted profits to range from 62 cents to 64 cents per share, while analysts predict 65 cents per share.
Looking ahead, the company forecast fourth-quarter earnings to range from 42 cents to 50 cents per share, which would best analyst estimates for 40 cents per share.
Prior studies typically use the midpoint to evaluate analyst reaction to range forecasts, implicitly assuming that analysts place equal weights on the upper and the lower bounds of management range forecasts.
The company said it now forecasts annual adjusted earnings to range from $3.10 to $3.30 per share.
Wyeth raised its 2009 profit forecast to a range of $3.48 to $3.58 a share, from a range of $3.33 to $3.53.
The company, based in Columbus, Ind., raised its full-year earnings forecast to a range of $5.55 to $5.75 a share, from a range of $4.40 to $4.60.
Boeing increased its 2004 full-year earnings forecast to a range of $2.25 to $2.45 a share, up from a range of $2.05 to $2.25, because of the tax gain.
Joy Global narrowed its full-year revenue forecast to a range of $3.5 billion and $3.6 billion, from a previous range of $3.5 billion to $3.7 billion.
Despite the profit and revenue drop, as well as the combined ratio uptick, Travelers raised its full-year forecast to a range of $4.80 to $5.05 per share, up from a prior range of $4.55 to $4.95 per share.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com