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Tech Jitters? Not Here


News: Analysis & Commentary: Earnings

Tech Jitters? Not Here

Stocks may gyrate, but earnings soared in Business Week's flash report on the first quarter. Profits jumped 22% on an 11% hike in revenues. Even Old Economy stalwarts like Weyerhaeuser and Alcoa are up 142% and 61%. Brokers also flexed their muscle: Merrill Lynch was up 70%. Losers? Coca-Cola lost $58 million, and profits slipped 2% at General Motors.Return to top

TABLE

Business Week's First Quarter Flash Report

CURRENT QTR. QTR.

SALES PROFITS

(MILLIONS) % CHG. (MILLIONS) % CHG.

INDUSTRIALS 271,482.5 +9 19,370.7 +14

ABBOTT LABORATORIES 3,353.2 +1 693.0 +4

ALCOA 4,531.0 +14 355.0 +61

AMERICAN HOME PRODUCTS 3,336.5 +17 1,746.0 +224

BESTFOODS 2,218.0 +1 160.0 +11

BOEING 9,910.0 -31 418.0 -11

CATERPILLAR 4,919.0 +1 258.0 +26

COCA-COLA 4,391.0 0 -58.0 NM

COLGATE-PALMOLIVE 2,241.8 +3 239.9 +15

CONAGRA+++ 5,797.8 +2 143.4 -16

CROWN CORK & SEAL 1,640.0 -9 23.0 -23

CUMMINS ENGINE 1,648.0 +10 42.0 +75

DELPHI AUTO. SYSTEMS 7,804.0 +4 290.0 +2

DOVER 1,251.3 +29 117.3 +69

EASTMAN KODAK 3,095.0 0 289.0 +51

FORD MOTOR 42,894.0 +14 1,932.0 +9

GENERAL ELECTRIC 29,996.0 +24 2,592.0 +20

GENERAL MOTORS 46,858.0 +10 1,783.0 -2

GOODYEAR TIRE & RUBBER 3,536.5 +18 63.6 +149

GUIDANT 630.7 +6 118.8 +130

HARLEY-DAVIDSON 681.1 +22 80.2 +36

HONEYWELL INT'L 6,044.0 +8 506.0 +15

INTERNATIONAL PAPER 6,400.0 +7 378.0 NM

JOHNSON & JOHNSON 7,319.0 +9 1,314.0 +15

JOHNSON CONTROLS++ 4,358.3 +12 88.8 -10

KIMBERLY-CLARK 3,387.2 +8 470.2 +26

LILLY (ELI) 2,451.1 +9 845.5 +87

MAYTAG 1,095.5 -1 75.9 -13

NIKE+++ 2,161.6 -1 145.3 +17

OCCIDENTAL PETROLEUM 2,508.0 +87 271.0 NM

OWENS CORNING 1,257.0 +11 48.0 +9

PEPSICO 4,191.0 -18 422.0 +27

PFIZER 4,315.0 +10 1,180.0 +45

PHILIP MORRIS 15,590.0 +3 2,009.0 +12

R.J. REYNOLDS

TOBACCO HLDGS. 1,922.0 +14 80.0 +5

RAYTHEON 4,231.0 -2 80.0 -67

REYNOLDS METALS 1,319.0 +24 71.0 NM

SCHLUMBERGER 2,213.6 -3 136.2 +97

TEMPLE-INLAND 1,033.0 +22 55.0 +112

TRW 4,565.3 +47 209.3 NM

TYCO INTERNATIONAL++ 7,070.0 +35 853.6 +50

WARNER-LAMBERT 3,407.1 +13 -1398.3 NM

WEYERHAEUSER 3,911.0 +47 244.0 +142

SERVICES 105,396.5 +19 13,528.0 +16

AMR 4,577.0 +14 89.0 +424

ASSOCIATES 1ST CAPITAL 3,427.5 +8 370.5 +10

BANK OF AMERICA NA NA 2,240.0 +17

BANK ONE NA NA 689.0 -40

CAPITAL ONE FINANCIAL 1,170.5 +6 106.7 +30

CARNIVAL 824.9 +10 171.5 +9

CHASE MANHATTAN NA NA 1,360.0 +16

CITIGROUP 23,708.0 +16 3,590.0 +44

DOW JONES 550.8 +19 88.7 +72

E*TRADE GROUP++ 555.3 +163 -23.2 NM

ENRON 13,145.0 +72 338.0 +34

FEDEX+++ 4,518.0 +10 113.0 +45

HERTZ 1,135.2 +10 56.3 +15

McGRAW-HILL 802.5 +12 57.6 +136

MERRILL LYNCH 11,026.0 +29 1,037.0 +70

MORGAN (J.P.) NA NA 628.0 +5

NEW YORK TIMES 843.2 +14 83.1 +35

OFFICE DEPOT 3,063.3 +17 109.0 +8

PAINEWEBBER GROUP 2,405.1 +25 176.3 +10

ROADWAY EXPRESS 677.3 +12 10.4 +31

SAFEWAY 7,086.3 +16 241.9 +18

SCHWAB (CHARLES) 1,571.9 +65 284.2 +99

SEARS, ROEBUCK 8,973.0 +4 235.0 +61

SUNTRUST BANKS NA NA 319.4 +13

TENET HEALTHCARE+++ 2,850.0 +1 38.0 -69

TIME WARNER 6,549.0 +8 -96.0 NM

TRIBUNE 782.5 +9 71.2 -79

UAL 4,546.0 +9 111.0 +41

USFREIGHTWAYS 608.2 +19 22.3 +27

WELLS FARGO NA NA 1,010.0 +14

TECHNOLOGY 60,840.5 +8 8,504.2 +53

ADV. MICRO DEVICES 1,092.0 +73 189.3 NM

AMERICA ONLINE+++ 1,836.0 +47 438.0 +7

APPLE COMPUTER++ 1,945.0 +27 233.0 +73

BIOGEN 216.8 +26 121.4 +166

EMC 1,822.6 +23 332.0 +49

GATEWAY 2,337.9 +11 136.0 +37

GENENTECH 364.2 +21 -25.9 NM

IBM 19,348.0 -5 1,519.0 +3

INTEL 8,021.0 +13 2,732.0 +37

MOTOROLA 8,768.0 +13 448.0 +125

ORACLE+++ 2,449.4 +18 763.2 +160

QUALCOMM++ 727.7 -22 199.7 NM

ROCKWELL INT'L++ 1,784.0 +5 164.0 +15

SEAGATE TECHNOLOGY+++ 1,573.0 -13 136.0 +66

SUN MICROSYSTEMS+++ 4,004.7 +35 508.1 +94

TEXAS INSTRUMENTS 2,653.0 +27 426.0 +67

UNISYS 1,668.7 -8 106.5 -3

YAHOO 228.4 +120 77.9 NM

UTILITIES & TELECOM 22,919.2 +13 1,500.1 +42

ALLTEL 1,603.4 +8 216.0 +16

COLUMBIA ENERGY GROUP 1,254.8 -3 149.7 -7

LUCENT TECHNOLOGIES++ 10,256.0 +17 754.0 +41

SOUTHERN 2,573.0 +5 249.3 +9

SPRINT FON GROUP 4,397.0 +7 445.0 +3

SPRINT PCS GROUP 1,177.0 +95 -510.0 NM

UNICOM 1,658.0 +8 196.0 +73

EST. EPS REPORTED

(2/17) EPS DIFF.

INDUSTRIALS 0.61 0.62 +0.01

ABBOTT LABORATORIES 0.44 0.44 --

ALCOA 0.91 0.95 +0.04

AMERICAN HOME PRODUCTS 0.52 0.48* -0.04

BESTFOODS 0.54 0.56 +0.02

BOEING 0.57 0.48 -0.09

CATERPILLAR 0.58 0.73 +0.15

COCA-COLA 0.26 -0.02 -0.28

COLGATE-PALMOLIVE 0.37 0.38 +0.01

CONAGRA+++ 0.41 0.30 -0.11

CROWN CORK & SEAL 0.20 0.17 -0.03

CUMMINS ENGINE 1.04 1.09 +0.05

DELPHI AUTO. SYSTEMS 0.55 0.51 -0.04

DOVER 0.44 0.57 +0.13

EASTMAN KODAK 0.92 0.93 +0.01

FORD MOTOR 1.58 1.58 --

GENERAL ELECTRIC 0.75 0.78 +0.03

GENERAL MOTORS 2.65 2.80 +0.15

GOODYEAR TIRE & RUBBER 0.37 0.40 +0.03

GUIDANT 0.38 0.38 --

HARLEY-DAVIDSON 0.23 0.26 +0.03

HONEYWELL INT'L 0.63 0.63 --

INTERNATIONAL PAPER 0.59 0.60* +0.01

JOHNSON & JOHNSON 0.91 0.93 +0.02

JOHNSON CONTROLS++ 0.89 0.95 +0.06

KIMBERLY-CLARK 0.79 0.86 +0.07

LILLY (ELI) 0.61 0.77 +0.16

MAYTAG 0.83 0.89 +0.06

NIKE+++ 0.50 0.52 +0.02

OCCIDENTAL PETROLEUM 0.49 0.74 +0.25

OWENS CORNING 0.83 0.84 +0.01

PEPSICO 0.28 0.29 +0.01

PFIZER 0.25 0.31 +0.06

PHILIP MORRIS 0.89 0.87 -0.02

R.J. REYNOLDS

TOBACCO HLDGS. 0.61 0.77 +0.16

RAYTHEON 0.35 0.24 -0.11

REYNOLDS METALS 1.03 1.10 +0.07

SCHLUMBERGER 0.25 0.24 -0.01

TEMPLE-INLAND 1.06 1.04 -0.02

TRW 1.25 1.68 +0.43

TYCO INTERNATIONAL++ 0.50 0.50 --

WARNER-LAMBERT 0.56 0.58* +0.02

WEYERHAEUSER 0.90 1.04 +0.14

SERVICES 0.66 0.78 +0.12

AMR 0.88 0.57 -0.31

ASSOCIATES 1ST CAPITAL 0.51 0.51 --

BANK OF AMERICA 1.25 1.33 +0.08

BANK ONE 0.66 0.60 -0.06

CAPITAL ONE FINANCIAL 0.50 0.51 +0.01

CARNIVAL 0.28 0.28 --

CHASE MANHATTAN 1.46 1.59 +0.13

CITIGROUP 0.75 1.04 +0.29

DOW JONES 0.55 0.88* +0.33

E*TRADE GROUP++ -0.18 -0.08 +0.10

ENRON 0.38 0.40 +0.02

FEDEX+++ 0.35 0.39 +0.04

HERTZ 0.48 0.52 +0.04

McGRAW-HILL 0.15 0.29 +0.14

MERRILL LYNCH 1.53 2.38 +0.85

MORGAN (J.P.) 2.32 3.37 +1.05

NEW YORK TIMES 0.41 0.47 +0.06

OFFICE DEPOT 0.29 0.32 +0.03

PAINEWEBBER GROUP 0.99 1.16 +0.17

ROADWAY EXPRESS 0.51 0.55 +0.04

SAFEWAY 0.47 0.48 +0.01

SCHWAB (CHARLES) 0.20 0.33 +0.13

SEARS, ROEBUCK 0.46 0.65 +0.19

SUNTRUST BANKS 1.06 1.04 -0.02

TENET HEALTHCARE+++ 0.46 0.48* +0.02

TIME WARNER 0.07 -0.08 -0.15

TRIBUNE 0.32 0.26 -0.06

UAL 1.07 0.84* -0.23

USFREIGHTWAYS 0.77 0.81 +0.04

WELLS FARGO 0.60 0.61 +0.01

TECHNOLOGY 0.38 0.47 +0.09

ADV. MICRO DEVICES 0.36 1.15 +0.79

AMERICA ONLINE+++ 0.09 0.17 +0.08

APPLE COMPUTER++ 0.80 1.28 +0.48

BIOGEN 0.43 0.41* -0.02

EMC 0.29 0.30 +0.01

GATEWAY 0.41 0.41 --

GENENTECH 0.26 0.28* +0.02

IBM 0.77 0.83 +0.06

INTEL 0.68 0.78 +0.10

MOTOROLA 0.59 0.59 --

ORACLE+++ 0.13 0.25 +0.12

QUALCOMM++ 0.24 0.25 +0.01

ROCKWELL INT'L++ 0.84 0.85 +0.01

SEAGATE TECHNOLOGY+++ 0.14 0.20* +0.06

SUN MICROSYSTEMS+++ 0.23 0.30 +0.07

TEXAS INSTRUMENTS 0.53 0.50 -0.03

UNISYS 0.34 0.34 --

YAHOO 0.09 0.13 +0.04

UTILITIES & TELECOM 0.22 0.24 +0.02

ALLTEL 0.68 0.68 --

COLUMBIA ENERGY GROUP 1.99 1.83 -0.16

LUCENT TECHNOLOGIES++ 0.23 0.23 --

SOUTHERN 0.36 0.38 +0.02

SPRINT FON GROUP 0.46 0.50 +0.04

SPRINT PCS GROUP -0.49 -0.54 -0.05

UNICOM 0.53 1.00* +0.47

++ Second-quarter results

+++ Third-quarter results

NM = not meaningful

NA = not available

*EPS adjusted for special items

DATA: COMPUSTAT, PROVIDED BY STANDARD & POOR'S INSTITUTIONAL MARKET SERVICES.

EARNINGS ESTIMATE DATA PROVIDED BY I/B/E/S INTERNATIONAL INC., NEW YORK, NY.

I/B/E/S IS A REGISTERED TRADEMARK OF I/B/E/S INTERNATIONAL INC.

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