Goodyear Tire & Rubber
reported solid earnings despite higher raw material costs. The company posted earnings of $69 million, or 34 cents a share, for the second quarter ended June 30, versus $30 million, or 17 cents a share, a year ago. Revenue for the quarter was $5 billion, up from $4.5 billion last year. The stock was up $1.60, or 9.17%, to $19.05 in after-hours trading.
Hartford Financial Services
reported net income of $602 million, or $1.98 a share, for the second quarter ended June 30, compared with $433 million, or $1.46 a share, a year ago. The diversified financial services firm said operating income rose 52% to $613 million, or $2.02. Analysts expected a profit of $1.90, according to Thomson First Call. For the year, Hartford expects operating income of $7.55 to $7.85 a share, which is up from its previous guidance of $7.40 to $7.70 a share. The stock was up 58 cents, or 0.72%, to $81 in after-hours trading.
posted a profit of $1.77 million, or 16 cents a share, down from $2.5 million, or 24 cents a share, a year ago. Revenue for the quarter was $89.1 million, up from $69.7 million last year. The company lowered its 2005 earnings forecasts citing the challenges in Specialty Laminations have been more persistent than anticipated. Packaging Dynamics now expects to earn $1 to $1.10 a share. In a separate statement, the company announced that Phillip D. Harris will retire as president and chief operating officer as of Sept. 30. The stock was down 79 cents, or 5.47%, to $13.66 in after-hours trading.
said that it expects its second quarter financial results to come in at the low end or slightly below its previous estimates citing delays in closing large transactions. The software maker now expects GAAP earnings of 17 cents to 18 cents a share and non-GAAP earnings of 31 cents to 32 cents a share. This compares with its previous forecast of GAAP earnings of 19 cents to 20 cents a share and non-GAAP earnings of 32 cents to 33 cents a share. Serena now expects revenue in the range of $59 million to $60 million, down from prior estimates of $64 million to $66 million. The stock was down 51 cents, or 2.56%, to $19.38 in after-hours trading.