Enron Denies Profit Warning Rumors

This morning it was diversified energy titan Enron(ENE Quote - Cramer on ENE - Stock Picks).

The country's biggest buyer and seller of electricity and natural gas said it was "very comfortable" with current consensus analysts' estimates for the fourth quarter and next year. The company said in a statement that it was responding to rumors of a potential profit warning.

The company is comfortable with earnings of 35 cents a share for the fourth quarter and $1.65 for 2001, in line with estimates. According to First Call/Thomson Financial, Wall Street expects earnings of $1.42 a share for this year.

Enron's announcement follows a statement Wednesday morning from diversified industrial mammoth General Electric(GE Quote - Cramer on GE - Stock Picks), which denied rumors that it would miss earnings forecasts in the coming quarter. But the stock fell 4% that day, anyway.