Second-Quarter Earnings Announcements: Barnes & Noble.com, Synopsys and Storage Technology

Author:: TSC Staff
Publish date:: Jul 31, 2000 7:03 PM EDT

Sometimes Wall Street is about trends, and the announcement of several major earnings reports last week seemed to surface a noticeable one: Old Economy blue-chip stocks proved their staying power while New Economy plays raised renewed concern.

Old reliable companies, such as

Merck

(MRK) - Get Report

American Express

(AXP) - Get Report

and

Exxon-Mobil

(XOM) - Get Report

all reported strong earnings.

Meanwhile, stocks such as

iVillage

(IVIL)

scared some investors last Friday. The New York-based women's online Web site took a 10% hit after announcing a wider-than-expected loss.

Today,

Storage Technology

(STK) - Get Report

made investors smile when it announced it surpassed expectations by

4 cents.

It's the tail end of earnings season, but the first week of August brings a trickle of firms to the earnings spotlight.

CVS

(CVS) - Get Report

and

Procter & Gamble

(PG) - Get Report

report Tuesday, while

Aetna

(AET)

will follow on Friday.

TheStreet.com

is compiling all of its earnings news and analyses in one convenient location to make it easier for our readers to see where earnings are headed. We will update this section as soon as earnings reports arrive. To keep track of what's coming, we have a daily earnings preview as well as a weekly earnings

calendar.

Earnings, revenue reports and previews

Briggs & Stratton

(BGG) - Get Report

bounced 1 7/16 to 35 3/16 after it posted fourth-quarter $1.24 a share, topping the three-analyst estimate of 95 cents but down from the year-ago $1.51 profit. The company warned that its first-quarter 2001 earnings would be greatly below last year's 66-cent profit.

Tyson Foods

(TSN) - Get Report

declined 1/8 to 9 3/8 after it posted third-quarter earnings of 18 cents a share, in line with the 17-analyst estimate but down from the year-ago 30 cents. Tyson warned that its fourth-quarter earnings could be half that of the third quarter, and that first-quarter 2001 earnings could be even worse than the fourth quarter.