SBC Communications Rises 6% by Midafternoon on Earnings - TheStreet

SBC Communications

(SBC)

, the No. 2 local phone company, was up 6% in midafternoon. The company said

third-quarter earnings were 57 cents per share excluding items, matching the Street's estimate and beating the year-ago result of 56 cents. Fourth-quarter earnings per share would be slightly below expectations, the company said, but full-year results would be in line with company estimates.