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Stocks to Watch: J&J Tops Estimates, Caterpillar Falls Short

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Johnson & Johnson

(JNJ) - Get Johnson & Johnson Report

earned 50 cents a share in the third quarter, excluding one-time charges. The company posted income of $1.53 billion, or 49 cents a share, including the charge. Analysts were calling for earnings of 48 cents. The company earned $1.32 billion, or 43 cents a share, a year earlier.

Earnings Reports & Warnings

Caterpillar

(CAT) - Get Caterpillar Inc. Report

earned $205 million, or 59 cents a share, falling 3 cents short of the 62 cents analysts were anticipating in the third quarter. Caterpillar earned $216 million, or 62 cents a share, in the same period last year.

Enron

(ENE)

met Wall Street's expectations, earning 43 cents a share in the third quarter, before items.

Tellabs

(TLAB)

, a maker of telecom equipment, earned $2.4 million, or a penny a share, in the third quarter, excluding one-time items. That figure matched the consensus estimate, but fell sharply from earnings of $196.3 million, or 47 cents a share, in the year-ago period. Sales dropped to $448.2 million from $812.1 million last year.

TheStreet Recommends

Scheduled After The Close

Among the many companies slated to report quarterly earnings after the closing bell are

Duke Energy

(DUK) - Get Duke Energy Corporation Report

,

Intel

(INTC) - Get Intel Corporation Report

,

IBM

(IBM) - Get International Business Machines Corporation Report

,

i2 Technologies

(ITWO)

,

RF Micro Devices

(RFMD)

and

Veritas Software

(VRTS) - Get Virtus Investment Partners, Inc. Report

.

Miscellaneous News

AT&T

(T) - Get AT&T Inc. Report

and

British Telecom

(BTY)

will take a combined $7 billion in charges to dissolve their Concert long-distance venture. About 2,300 jobs will be cut.

After Monday's Close

B2B software company

Commerce One

(CMRC)

said it will

cut its staff nearly in half by eliminating 1,300 workers from its payroll of about 2,800 employees. About 600 of the 1,300 positions could be absorbed by the "planned spinoff of a number of services operations that are not directly related to Commerce One products," the company said in a statement.

Novellus Systems

(NVLS)

, a maker of chip equipment, said it earned $35.2 million, or 24 cents a share, in the third quarter, before one-time items. That number matched the consensus estimate. In the year-ago period, the company earned $43 million, or 29 cents a share.