Stock Market News: Bank Of NY Mellon, DuPont, Caterpillar Beat Earnings

• Adecco announced plans to acquire professional staffing firm MPS (MPS) for $1.3 billion
• Pfizer (PFE) bettered earnings and revenue expectations with third quarter adjusted results of 51 cents a share, 3 cent higher than Zacks estimates, on revenues of $11.6 billion, which beat Zacks estimates of $11.47 billion. Full-year guidance was also raised to $2.00-$2.05 from $1.90-$2.00 prior
• United Technologies (UTX) third quarter numbers beat consensus estimates with earnings of $1.14 versus Zacks estimates of $1.12 on revenues of $13.38 billion up from estimates of $13.40 billion. The firm expects full year earnings in the mid-point of its earlier guidance of $4.00-$4.20
• State Street (STT) reported third quarter operating earnings of $1.05 a share, beating Zacks estimates of $1.00 a share, as revenues of $2.77 billion were above estimates of $2.22 billion. However, the company lowered full-year operating results from $4.25-$4.50 to $4.13-$4.17
• Comerica (CMA) reported third quarter earnings of 10 cents, versus Zacks estimates of a 54 cent loss, with $311 million provided for loan losses
• Bank of NY Mellon (BK) reported third quarter earnings of 54 cents a share, beating Zacks estimates by 7 cents, on revenues of $3.33 billion versus $3.20 billion
• DuPont (DD) reported third quarter earnings of 45 cents, 12 cents better than expected, on revenues of $5.96 billion versus $6.14 billion. The firm sees full-year results of $1.95-$2.05 versus $1.83. According to the firm, “We see overall sequential improvement in our industrial businesses as market conditions begin to firm”
• Caterpillar (CAT) reported better-than-expected earnings and revenues with earnings of 64 cents 57 cents above Zacks projections as revenues reach $7.29 billion versus $7.53 billion. “We believe the third quarter marked the low point for Caterpillar sales and revenues in what has been the toughest recession since the 1930s. We are seeing encouraging signs that indicate a recovery may be underway”
• Coca-Cola (KO) reported quarterly results of 82 cents versus Zacks estimates of 81 cents on revenues of $8.04 billion versus $8.03 billion. According to the company, “We expect the consumer to continue facing economic uncertainties into 2010 and for consumer sentiment to recover slowly”
• Qatar announced plans to sell its $2.1 billion Barclays (BCS) stake, locking in a $1.2 billion gain in the shares

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