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2nd UPDATE: Companies Postpone Earnings Reports in Light of Hurricane Sandy

Date : 10/29/2012 @ 10:05PM
Source : Dow Jones News
Stock : American Capital Agency Corp. (MM) (AGNC)
Quote : 22.94  -0.54 (-2.30%) @ 5:40AM
American Capital Agency Corp. (MM) share price Chart

2nd UPDATE: Companies Postpone Earnings Reports in Light of Hurricane Sandy

Pfizer (NYSE:PFE)
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--Pfizer, Thomson Reuters and others postpone results

--U.S. stock and options markets close Monday because of hurricane

--Conference Board postpones release of its October consumer confidence report

(Updates with details about additional companies )

 
   By Saabira Chaudhuri 
 

A number of U.S. companies disclosed plans to postpone their quarterly reports because of the pending arrival of Hurricane Sandy on the East Coast, a move that comes during one of the busiest weeks of the third-quarter earnings season.

Among the names delaying reports are pharmaceutical giant Pfizer Inc. (PFE), financial data and news provider Thomson Reuters Corp. (TRI), education and financial content provider McGraw-Hill Cos. (MHP) and power-plant operator NRG Energy Inc. (NRG).

Pfizer moved its announcement to Thursday, as did media and merchandise company Martha Stewart Living Omnimedia Inc. (MSO), while Thomson Reuters postponed its earnings to Friday. All three companies were slated to unveil results Tuesday. Martha Stewart Living's main offices, to the far west of New York's Chelsea neighborhood overlooking the Hudson River, are in the city's mandatory evacuation zone.

Meanwhile, NRG moved its earnings announcement to Friday from Wednesday as did McGraw Hill, and Entergy Corp. (ETR) rescheduled to Nov. 5 from Tuesday.

"With many of our shareholders, financial analysts, employees and others living in and around the storm's projected path, rescheduling our earnings call was an easy decision to make," Entergy Chief Executive J. Wayne Leonard said.

Among the other companies that have delayed their reports are:

 
   -Acorda Therapeutics Inc. (ACOR) moved to Wednesday from Tuesday 
   -Automatic Data Processing Inc. (ADP) moved to Thursday from Tuesday 
   -Arch Capital Group Ltd. (ACGL) moved to Thursday from Monday 
   -Cognex Corp. (CGNX) moved to Thursday from Monday 
   -Compugen Ltd. (CGEN) moved to Nov. 5 from Tuesday 
   -Dendreon Corp. (DNDN) moved to Friday from Tuesday 
   -Iconix Brand Group Inc. (ICON) moved to Thursday from Tuesday 
   -KEYW Holding Corp. (KEYW) moved to the day Nasdaq opens from Monday 
   -MSC Industrial Direct Co. (MSM) moved from Tuesday to Wednesday 
   -Office Depot Inc. (ODP) moved to Nov. 6 from Tuesday 
   -Parkway Properties Inc. (PKY) moved to Thursday from Monday 
   -PartnerRe Ltd. (PRE) moved to Wednesday from Monday 
   -Radian Group Inc. (RDN) moved to Thursday from Tuesday 
   -Sirius XM Radio Inc. (SIRI) moved to Thursday from Tuesday 
   -Sourcefire Inc. (FIRE) moved to Thursday from Tuesday 
   -Systemax Inc. (SYX) moved to Thursday from Tuesday 
   -Texas Roadhouse Inc. (TXRH) moved to Thursday from Monday 
   -Vertex Pharmaceuticals Inc. (VRTX) moved to Thursday from Monday 
   -Vision-Sciences Inc. (VSCI) moved to Nov. 5 from Tuesday 
 

Among the companies that have rescheduled their conference calls are:

 
   -American Capital Agency Corp. (AGNC) moved to Thursday from Monday 
   -Armstrong World Industries Inc. (AWI) moved to Wednesday from Monday 
   -Post Properties Inc. (PPS) moved to Wednesday from Tuesday 
   -Weingarten Realty Investors (WRI) moved to a yet to be determined date 
 

Among the companies that reported as planned Monday were Burger King Worldwide Inc. (BKW), Loews Corp. (L) and Harris Corp (HRS). And, Johnson Controls Inc. (JCI), TRW Automotive Holdings Inc. (TRW) and Pentair Inc. (PNR) were among those that said at this time they intend to report results as planned Tuesday morning.

Elsewhere, U.S. stock and options markets are closed Monday as a result of Hurricane Sandy and are expected to remain closed Tuesday.

The Conference Board is postponing release of its October consumer confidence report until Thursday from its scheduled Tuesday release.

"We've made this decision to assure the safety of our staff and all who follow the Consumer Confidence Index, as well as ensure the distribution of the report remains fair and open," said Lynn Franco, director of economic Indicators at the board.

S&P Dow Jones Indices said, as of now, it plans to release the latest results for the S&P/Case-Shiller Home Price Indices as normal on Tuesday; however, it will provide an update later pending more information on the hurricane.

Meanwhile, the Labor Department said it has yet to make a decision on whether to delay Friday's closely watched employment report due to the effects from Hurricane Sandy.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires




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