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Storm leads US companies to postpone earnings

Storm leads US companies to postpone earnings

With Hurricane Sandy bearing down on the heavily populated U.S. East Coast and financial markets shut down Monday, a number of major U.S. companies postponed quarterly earnings reports. Parts of New York City around the Financial District were under mandatory evacuation orders
Companies including Pfizer Inc., Thomson Reuters Corp. and NRG Energy Inc. delayed earnings reports to later this week. Pfizer, which was due to report Tuesday, will announce results on Thursday. Thomson Reuters, also scheduled for Tuesday, will report on Friday. NRG will also report on Friday instead of Wednesay.
Other companies delaying their announcements:
_ Power provider Entergy Corp. will report on Nov. 5 instead of Tuesday.
_ Biopharmaceutical Acorda Therapeutics Inc. will report results on Wednesday instead of Tuesday.
_ Maintenance products distributor MSC Industrial Direct Co. will report results on Wednesday instead of Tuesday.
_ Mortgage insurer Radian Group Inc. will report earnings on Thursday instead of Tuesday.
Other companies, including Burger King Worldwide Inc., are reporting as planned.
The New York Stock Exchange, Nasdaq and CME Group in Chicago will remain closed Monday and possibly Tuesday. Trading on the NYSE was last closed on Sept. 11, 2001, and last closed for a weather related event in 1985, for Hurricane Gloria.
If the exchange remains closed Tuesday, it would be the first weather-related consecutive-day closing since 1888, when a blizzard left drifts of snow as high as 40 feet (12.2 meters).


Updated : 2021-04-20 22:23 GMT+08:00