--Thomson Reuters, Pfizer and others postpone results
--U.S. stock and options markets closed Monday because of
hurricane
--Futures markets unrelated to equities will remain open
(Updates with details about additional companies, futures
markets )
By Saabira Chaudhuri
A number of U.S. companies disclosed plans to postpone their
quarterly reports because of the pending arrival of Hurricane Sandy
on the East Coast, a move that comes during one of the busiest
weeks of the third-quarter earnings season.
Among the names delaying reports are pharmaceutical giant Pfizer
Inc. (PFE), financial data and news provider Thomson Reuters Corp.
(TRI) and power-plant operator NRG Energy Inc. (NRG).
Pfizer moved its announcement to Thursday, as did media and
merchandise company Martha Stewart Living Omnimedia Inc. (MSO),
while Thomson postponed its earnings to Friday. All three companies
were slated to unveil results Tuesday. Martha Stewart Living's main
offices, to the far west of New York's Chelsea neighborhood
overlooking the Hudson River, are in the city's mandatory
evacuation zone.
Meanwhile, NRG moved its earnings announcement to Friday from
Wednesday, while Entergy Corp. (ETR) rescheduled to Nov. 5 from
Tuesday.
"With many of our shareholders, financial analysts, employees
and others living in and around the storm's projected path,
rescheduling our earnings call was an easy decision to make,"
Entergy Chief Executive J. Wayne Leonard said.
Real estate investment trust Weingarten Realty Investors (WRI)
and Scorpio Tankers Inc. (STNG), which transports petroleum
products, both moved their conference calls from Monday to a yet to
be determined date, though they still issued results by press
release.
Others delaying are biotechnology company Acorda Therapeutics
Inc. (ACOR), which moved its announcement to Wednesday from
Tuesday, and mortgage insurer Radian Group Inc. (RDN), which moved
its scheduled release to Thursday from Tuesday. Metalworking
supplier MSC Industrial Direct Co. (MSM) pushed its release back
one day to Wednesday, and Sirius XM Radio Inc. (SIRI) moved its
from Tuesday to Thursday.
Machine vision technology firm Cognex Corp. (CGNX) will release
results on Thursday instead of Monday, while computer e-seller
Systemax Inc. (SYX) pushed its release to Thursday from Tuesday.
Drug company Vertex Pharmaceuticals Inc. (VRTX) also rescheduled
its earnings release, and is now scheduled to report Thursday
instead of Monday.
U.S. stock and options markets are closed Monday as a result of
Hurricane Sandy and are expected to remain closed Tuesday.
All trading in futures contracts tied to major stock indexes
like the Standard & Poor's 500 and the Russell 2000 stock
closed early at 9:15 a.m. EDT Monday, according to notices from CME
Group Inc. (CME) and IntercontinentalExchange Inc. (ICE), which
operate the biggest markets in such contracts. Stock-index futures
trading began at 6 p.m. ET Sunday.
Futures markets unrelated to equities will remain open as per
normal, according to notices from CME and ICE, though CME already
had planned to close its New York Mercantile Exchange trading floor
that serves energy traders.
Other markets also expect to be open for business Monday.
Brokertec, a bond-trading platform operated by brokerage firm Icap
PLC, will be open though fixed-income markets generally are seen
shutting down at noon. EBS, among the largest currency-dealing
platforms also owned by Icap, will be open, according to a
spokesman.
S&P Dow Jones Indices said, as of now, it plans to release
the latest results for the S&P/Case-Shiller Home Price Indices
as normal on Tuesday; however it will provide an update later
pending more information on the hurricane.
Among the companies that reported as planned Monday were Burger
King Worldwide Inc. (BKW), Loews Corp. (L) and Harris Corp
(HRS).
--Jenny Strasburg and Jacob Bunge contributed to this
article.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires