Shares were surging 8.2% to $6.62 in premarket trading Thursday.
NEW YORK ( TheStreet) -- Nokia ( NOK), the world's biggest handset maker, reported a third-quarter loss of €0.02 a share, a swing from year-earlier profit of €0.14 a share. Underlying profit in the quarter was €0.03 a share. Analysts polled by Thomson Reuters were expecting Nokia to post a loss of €0.01.
Ericsson ( ERIC), the Swedish telecommunications maker, posted an increase in third-quarter earnings on strong demand for mobile broadband and increased services revenue. Profit rose to 3.8 billion kronor ($575.8 million) from 3.6 billion kronor a year earlier. Sales jumped 17% to 55.5 billion kronor. Shares were surging 7.8% to $10.43.
Online auction company eBay ( EBAY) reported adjusted third-quarter earnings of 48 cents per share, meeting the average estimate of analysts polled by Thomson Reuters. The company said it would earn 55 cents to 58 cents in the fourth quarter, compared to analysts' estimates for 58 cents. Shares were tumbling 5.3% to $31.41.
Medical devices maker Boston Scientific ( BSX) reported third-quarter sales of $1.874 billion, below the Wall Street consensus target of $1.908 billion. The company estimates sales for the fourth quarter to be in the range of $1.85 billion to $1.95 billion, below the average analyst estimate of $1.9698 billion. Adjusted earnings are estimated to be in the range of 13 cents to 16 cents a share, compared with the Wall Street target of 10 cents. Boston Scientific now expects full-year sales in the range of $7.62 billion to $7.72 billion, below the average analyst estimate of $7.77 billion. Adjusted earnings were updated to an estimate of 67 cents to 70 cents a share from 64 cents to 70 cents a share. Analysts, on average, are expecting earnings of 45 cents. For the third quarter, the company reported profit of 15 cents a share, beating the average analyst estimate of 8 cents a share. It repurchased 30 million shares. Shares were tumbling 4.8% to $5.37.
Fifth Third Bancorp ( FITB) reported third-quarter net income available to common shareholders of $373 million, or 40 cents a share, beating the consensus analyst estimate for profit of 33 cents. Shares were gaining 4.6% to $11.15.
Telecommunications giant AT&T's ( T) third-quarter earnings met the estimates of analysts as it added 2.1 million wireless subscribers to pass 100 million. AT&T earned $3.6 billion, or 61 cents a share. Revenue fell 0.3% to $31.48 billion. Analysts surveyed by Thomson Reuters expected AT&T to earn 61 cents a share on revenue of $31.62 billion. Shares were down 2.3% to $28.43.
Payments company American Express ( AXP) reported third-quarter net income of $1.02 billion, or $1.03 a share. Earnings declined from $1.30 billion, or $1.10 during the second quarter, but increased from $1.10 billion, or 90 cents a share, in the third quarter of 2010. Overall, third-quarter net income beat the consensus estimate of 96 cents among analysts polled by Thomson Reuters. Total third-quarter revenue -- net of interest expense -- was $7.57 billion, down slightly from $7.62 billion the previous quarter, but up 9% from $6.97 billion a year earlier. Shares were falling 1.3% to $45.55.
Software company Microsoft ( MSFT) is expected by analysts to post first-quarter profit of 68 cents a share after the closing bell, increasing from 62 cents a share last year. Shares were up 0.5% to $27.27.