Updated from 1:17 p.m. EDT with new stock pricesThursday brought another busy day of earnings reports, and Union Pacific ( UNP) was among the winners after its release. The railroad operator's shares rose 5.84% after the company's earnings handily topped Wall Street expectations. Union Pacific earned $532 million, or $2 a share, in the third quarter, a 27% rise from a year earlier. Analysts polled by Thomson Financial expected earnings of $1.77 a share. The stock was climbing $6.95 to $125.93. Textron ( TXT) also was a winner, with shares climbing 4.24% after the industrial giant beat earnings targets and lifted its full-year guidance. The maker of Cessna aircraft and Bell helicopters posted earnings from continuing operations of $242 million, or 95 cents a share, on revenue of $3.26 billion. Analysts, on average, anticipated earnings of 77 cents a share and revenue of $3.14 billion. For the full year, Textron sees earnings of $3.40 to $3.55 a share, up about 22 cents from its prior view. Analysts forecast earnings per share of $3.29 for 2007. Shares of Textron were adding $2.72 to $66.85. McGraw-Hill ( MHP) edged up 0.98% after the publishing company beat third-quarter earnings expectations, while also forecasting a decline in fourth-quarter results. For the third quarter, the owner of BusinessWeek and Standard & Poor's ratings earned $452 million, or $1.34 a share, on revenue of $2.19 billion. Analysts, on average, targeted earnings of $1.24 a share and revenue of $2.18 billion. McGraw-Hill said fourth-quarter revenue and earnings won't match last year's results because of weakness in the structured finance markets and some softness in its education division. Analysts expected earnings of 61 cents a share and revenue of $1.66 billion, compared with the company's year-ago earnings of 59 cents a share and revenue of $1.59 billion. Shares of McGraw Hill were up 50 cents to $51.42.
Outside of earnings, Diana Shipping ( DSX) was climbing nearly 10.80% after the Greek transportation company said it will buy two dry-bulk carriers. The company will pay a total of $275 million for the "Thalassini Niki" and "Thalassini Kyra" vessels. Diana said it expects the vessels to generate $225 million of gross revenue for the minimum scheduled period of their charters. Shares were trading up $3.72 to $38.18. As for the losers, Teradyne ( TER) was sliding 5.86% after the company's earnings and guidance fell short of forecasts. The maker of testing equipment for electronics recorded earnings of $32 million, or 17 cents a share, before certain items. Analysts expected earnings of 18 cents a share. Teradyne's revenue was $299.5 million, missing Wall Street's estimate of $315.4 million. For the fourth quarter, Teradyne projected earnings of 4 cents to 10 cents a share, well below Wall Street's 21-cent forecast. The company anticipates revenue of $250 million to $275 million, compared with analysts' target of $335.8 million. Shares were falling 81 cents to $13.01. Air conditioning concern American Standard ( ASD) also missed targets and cut its guidance, sending shares down 4% early in the day. For the third quarter, adjusted earnings from continuing operations were 65 cents a share, 4 cents below analysts' target. American Standard, in the process of dividing itself into three companies, said it now sees full-year adjusted earnings of $1.89 to $1.94 a share, below its prior forecast of $1.90 to $1.95. But shares recovered and were up 0.32% to $34.41 at the close.