Gainers:
Chevron Corp. (CVX: Quote) rose 0.68 percent to $111.22. The company expects fourth quarter earnings to be notably higher on a sequential basis. The company projects upstream results to be higher between sequential quarters, reflecting increased gains on asset transactions and higher liftings. In addition, the company expects downstream earnings to be higher, largely reflecting a positive swing in timing effects, despite a sharp decline in industry refining.
Decliners:
American Express Co. (AXP: Quote) was down 0.56 percent to $60.45. The company announced restructuring, including reduction of an estimated 5,400 jobs. The company expects to recognize charges in the quarter for restructuring, membership rewards and cardmember reimbursements.
KBR Inc. (KBR: Quote) declined nearly 8 percent to $29.50 as it slashed its fiscal year 2012 adjusted earnings per share outlook due to significant project charges it expects to take in its Minerals and U.S. Construction businesses, both in the fourth quarter of 2012 as well as higher than expected labor cost absorption expenses. The company noted that it is clearly disappointed with its outlook for the 2012 fourth quarter.
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by RTT Staff Writer
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