Stock Market Briefs: Bank Of America Posts Larger Than Expected Loss, General Electric Beats Estimates

• Bank of America (BAC) reported a higher-than-estimated third-quarter loss, with a loss of 26 cents as revenue of $26.04 billion missed Zacks estimates of $27.61 billion. The firm added $2.1 billion to credit loss reserves
• General Electric (GE) reported third-quarter earnings of 27 cents a share ex-items, 7 cents above Zacks estimates, on revenues of $37.8 billion, a 20% drop which missed
  estimates of $39.78 billion. CEO Jeff Immelt noted, “While it remains a tough environment for GE Capital, we are seeing signs of stabilization. Every segment at GE Capital was profitable with the exception of Real Estate, which is experiencing a tough environment but where we believe the risks are well understood and manageable”
• First Horizon National (FHN) reported a third-quarter loss of 24 cents a share, versus Zacks estimates of a 34 cent loss, on revenues of $495 million
• Halliburton (HAL) reported a third-quarter profit of 31 cents a share, a nickel above Zacks estimates, versus 76 cents a year ago
• Mattel (MAT) reported third quarter earnings of 63 cents a share, a cent below Zacks estimates, versus 66 cents a year earlier on revenues of $1.79 billion. According to the firm, “As expected, revenues continue to be challenging this year due to the overall economic environment, retailers tightly managing inventory, foreign exchange rates and the lack of entertainment-inspired toy lines”

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