Microsoft, Amazon: Friday's Headlines

(Updated with Microsoft earnings, AIG pay package rejection, Bernanke speech details.)

NEW YORK (TheStreet) -- Here are the top stock market headlines for the morning of Friday, Oct. 23, 2009.

Friday's Earnings Roundup

• Microsoft (MSFT Quote) reported a third-quarter profit of $3.6 billion, or 40 cents a share, which was down from the year-ago quarter but still impressed analysts who expected, on average, that the software giant would post earnings of 32 cents a share. Revenue sank 14% from a year ago to $12.92 billion, although that number also beat the Thomson Reuters consensus target of $12.4 billion.
• Amazon.com (AMZN Quote) shares were set to surge over the $100 level after the company late Thursday reported a third-quarter profit of $199 million, or 45 cents a share, up sharply from a year ago and well ahead of the Thomson Reuters average estimate of 33 cents a share. Sales spiked 28% to $5.45 billion, above the consensus target of $5.02 billion. Amazon also offered a rosy outlook for the fourth quarter, saying it expects operating income between $300 million and $425 million and revenue between $8.12 billion and $9.12 billion.
• Honeywell (HON Quote) notched a third-quarter profit of $608 million, or 80 cents a share. Excluding items, Honeywell earned 76 cents a share, falling from year-ago levels but exceeding the Thomson Reuters average estimate of 72 cents a share. Revenue came in at $7.7 billion, down 17% from a year ago and below the consensus target of $7.88 billion. Looking ahead, Honeywell forecasted full-year earnings of $2.85 a share on sales of about $31 billion. Analysts currently expect earnings of $2.78 a share on sales of $31.46 billion.
• Schlumberger (SLB Quote) posted a third-quarter profit of $787 million, or 65 cents a share, which was down roughly 50% from a year ago but still beat Wall Street's consensus target by two cents. Revenue sank 25.2% to $5.43 billion, coming up just shy of the Thomson Reuters average estimate of $5.48 billion. Schlumberger CEO Andrew Gould said he believes "the worst" is behind the company.
• Whirlpool (WHR Quote) reported third-quarter earnings of $87 million, or $1.15 a share, which was cut nearly in half from a year ago but beat the Thomson Reuters average estimate of 77 cents a share. Sales fell 8% to $4.5 billion, also ahead of estimates.
• Ingersoll-Rand (IR Quote) said it had third-quarter earnings of $217 million, or 65 cents a share, down slightly from a year ago. Adjusted earnings totaled 70 cents a share, beating the Thomson Reuters average estimate of 61 cents a share. Revenue dropped nearly 20% from a year ago to $3.48 billion and fell short of the $3.55 billion consensus.