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3rd UPDATE: Companies Postpone Earnings Reports in Light of Hurricane Sandy

Date : 10/30/2012 @ 12:21AM
Source : Dow Jones News
Stock : Weingarten Realty Investors (WRI)
Quote : 36.01  -0.03 (-0.08%) @ 2:34AM
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3rd 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, beginning in the third paragraph.)

 
   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 those delaying reports are pharmaceutical company Pfizer Inc. (PFE), financial-data-and-news provider Thomson Reuters Corp. (TRI, TRI.T) and education-and-financial-content provider McGraw-Hill Cos. (MHP).

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, at the far west of New York's Chelsea neighborhood overlooking the Hudson River, are in the city's mandatory evacuation zone.

Meanwhile, TD Ameritrade Holding Corp. (AMTD) moved its fiscal fourth-quarter earnings release to Monday from Tuesday.

Avon Products Inc. (AVP) postponed its earnings announcement to Thursday from Tuesday, while Hertz Global Holdings Inc. (HTZ) moved its report back by a day, to Wednesday. Liberty Mutual Holding Company Inc. has canceled its conference call scheduled for Tuesday. It said its earnings release will be available on its website as soon as possible.

Meanwhile, power-plant operator NRG Energy Inc. (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:

 
   -Acorda Therapeutics Inc. (ACOR) moved to Wednesday from Tuesday 
   -Advent Software Inc. (ADVS) moved to Tuesday from Monday 
   -Anika Therapeutics Inc. (ANIK) moved to Tuesday from Monday 
   -Automatic Data Processing Inc. (ADP) moved to Thursday from Tuesday 
   -Arch Capital Group Ltd. (ACGL) moved to Thursday from Monday 
   -Corporate Executive Board Co. (CEB) moved to Thursday 
   -Cognex Corp. (CGNX) moved to Thursday from Monday 
   -Compugen Ltd. (CGEN, CGEN.TV) moved to Nov. 5 from Tuesday 
   -Dendreon Corp. (DNDN) moved to Friday from Tuesday 
   -Heidrick & Struggles International Inc. (HSII) to Wednesday from Tuesday 
   -HHGregg Inc. (HGG) 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 
   -Montpelier Re Holdings Ltd. (MRH) moved to Wednesday from Monday 
   -Life Technologies Corp. (LIFE) moved to Thursday from Monday 
   -MSC Industrial Direct Co. (MSM) moved from Tuesday to Wednesday 
   -NeuStar Inc. (NSR) moved to Nov. 5 from Tuesday 
   -Newtek Business Services Inc. (NEWT) moved to Wednesday from Tuesday 
   -NiSource Inc. (NI) moved to Friday from Tuesday 
   -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 
   -Pitney Bowes Inc. (PBI) moved to Thursday from Tuesday 
   -Radian Group Inc. (RDN) moved to Thursday from Tuesday 
   -Republic Airways Holdings Inc. (RJET) moved to Thursday from Tuesday 
   -Rogers Corp. (ROG) moved to Nov. 5 from Tuesday 
   -Sanmina-SCI Corp. (SANM) moved to Tuesday from Monday 
   -Sirius XM Radio Inc. (SIRI) moved to Thursday from Tuesday 
   -Sourcefire Inc. (FIRE) moved to Thursday from Tuesday 
   -Sterling Bancorp (STL) moved to Friday from Tuesday 
   -Systemax Inc. (SYX) moved to Thursday from Tuesday 
   -Texas Roadhouse Inc. (TXRH) moved to Thursday from Monday 
   -Unilife Corp. (UNIS, UNS.AU) moved to Nov. 8 from Tuesday 
   -Vertex Pharmaceuticals Inc. (VRTX) moved to Thursday from Monday 
   -Vision-Sciences Inc. (VSCI) moved to Nov. 5 from Tuesday 
   -Waddell & Reed Financial Inc. (WDR) moved to Wednesday from Tuesday 
 

Among the companies that have rescheduled their conference calls:

 
   -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 
   -Marlin Business Services Corp. (MRLN) 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). Johnson Controls Inc. (JCI), TRW Automotive Holdings Corp. (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 will remain closed Tuesday.

The Conference Board is postponing the release of its October consumer-confidence report until Thursday, from its previously 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.

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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