US EARNINGS WRAP: Hasbro Profit Up; Others Post Sharp Drops

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major second-quarter releases from Monday morning:

Hasbro Profit Up 4.8%; Transformers Lead Gains

Hasbro Inc.'s (HAS) earnings rose 4.8% amid strong sales of most of its toy brands, including those related to the Transformers movie sequel, but revenue fell just short of Wall Street's expectations while profit topped estimates. Shares rose 4% premarket to $26.40.

Eaton Results Miss Views; Gives Mixed Outlook

Eaton Corp.'s (ETN) profit plunged 91% on slumping sales and margins as results missed expectations. The electrical system and hydraulics maker also projected third-quarter earnings above views and cut its full-year earnings outlook again. Its stock climbed 4.6% premarket to $47.

Weatherford Slumps On North America Drilling Slump

Weatherford International Ltd.'s (WFT) earnings fell 89%, with results missing analysts' estimates, as international growth at the oilfield-services provider failed to offset a steep drop in North American demand. Shares slid 7.6% to $18.41.

Halliburton Results Fall, But Top Estimates

Rival Halliburton Co.'s (HAL) income fell 48% on weak demand and lower prices, but results were better than feared. Chairman and Chief Executive Dave Lesar doesn't expected North American natural-gas drilling and prices to recover "meaningfully" this year. The stock rose 3.6% premarket to $22.15.

Johnson Controls Back In Black

Johnson Controls Inc. (JCI) posted its first profitable quarter since the fall as the auto-parts and heating-systems maker saw cost cuts partially take the sting out of tumbling demand, which fell more than expected. Shares added 3.9% to $22.35 as the 62% earnings slump wasn't as bad as forecasted.

M&T Bank Profit Down 75% On Charges

Buffalo-based M&T Bank Corp.'s (MTB) earnings plunged 75%, in part reflecting charges from its acquisition of Provident Bankshares and special payment toward the Federal Deposit Insurance Corp.'s deposit-insurance fund. But deposits rose 12% for the regional bank as credit woes were in line with the company's expectations. Its stock rose 1% in light premarket trading to $55.