• Eaton (NYSE:ETN) reported third quarter earnings were benefitted by “improved production and lower costs.” The company reports third-quarter EPS of $1.21 ex-items versus $1.95 a year earlier, and well above Zacks projections of $0.91 as revenues fell 26% to $3.03 billion. The company set full year operating projections at $2.40-$2.50
• Hasbro (NYSE:HAS) reported third quarter earnings of 99 cents, versus Zacks estimates of 92 cents a share, although revenues of $1.28 billion were below Zacks projections of $1.34 billion
• BB&T (NYSE:BBT) reported third quarter fully diluted results of 23 cents versus 65 cents a year earlier, inline with Zacks estimates of 23 cents. According CEO King, “Our revenue growth for the quarter was very strong at 16.1%, the net interest margin is improved, growth in noninterest-bearing deposits is exceptional and the impact from the Colonial acquisition is positive. However, our earnings continue to be negatively affected by a significant provision for credit losses and other costs related to the credit environment”
• FBR upgraded American Express (NYSE:AXP) shares to “market perform” from “underperform,” with the price target lifted to $37 from $25
