Exxon, GDP: Thursday's Headlines

NEW YORK (TheStreet) -- Here are the top stock market headlines for the morning of Thursday, Oct. 29, 2009.

Thursday's Earnings Roundup

• Exxon Mobil (XOM Quote) posted third-quarter earnings of 98 cents a share, below the Thomson Reuters average estimate of $1.03 a share. Revenues fell 40.3% from near-record levels in the year-ago quarter to $82.26 billion, also below Wall Street's consensus target.
• Procter & Gamble (PG Quote) said it had a fiscal first-quarter profit of $1.07 a share, coming in ahead of the Thomson Reuters average estimate for a profit of 99 cents a share. Revenue dipped 5.6% from a year ago to $19.8 billion, slightly above the consensus of $19.77 billion. Looking ahead, P&G offered in-line earnings guidance for its fiscal second quarter and the full year.
• Motorola (MOT Quote) reported third-quarter adjusted earnings of 2 cents a share, compared with expectations the company would break even in the quarter, according to Thomson Reuters. Revenue dropped 27% from the year-ago quarter to $5.45 billion, below the consensus target of $5.54 billion. Motorola did offer a rosy outlook for the fourth quarter, saying it expects adjusted earnings in a range of 7 cents to 9 cents a share, better than the Thomson Reuters consensus for earnings of 6 cents a share.
• Sprint Nextel (S Quote) said it had a third-quarter loss of 17 cents a share, worse than the Thomson Reuters average estimate for a loss of 15 cents a share. Revenue slid nearly 9% from a year ago to $8.04 billion, coming up just shy of the $8.09-billion consensus. Sprint said it lost a total of 135,000 net retail subscribers in the quarter.
• Eastman Kodak (EK Quote) reported a third-quarter adjusted loss of 23 cents a share, bigger than the Thomson Reuters average estimate for a loss of 19 cents a share. Revenue fell about 26% from a year ago to $1.78 billion, also worse than expectations. However, Kodak said it expects the total revenue decline rate for the full year to be at the high end of its previously forecasted range of 12% to 18%, compared to expectations for a 22% drop.