NEW YORK (AP) ? With Hurricane Sandy bearing down on the East Coast Monday and financial markets shut down, a number of major U.S. companies have postponed quarterly earnings.
Companies including Pfizer Inc., Thomson Reuters Corp. and NRG Energy Inc. have delayed earnings reports to later this week. Pfizer, which was due to report Tuesday, will now announce results on Thursday. Thomson Reuters, also originally scheduled for Tuesday, will report 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. Luggage maker Tumi Holdings Inc. said it will report its third-quarter results on Monday, but canceled its scheduled conference call because of Sandy.
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.
Sandy strengthened before dawn Monday and stayed on a predicted path toward Washington, Baltimore, Philadelphia and New York ? putting it on a collision course with two other weather systems that would create a superstorm with the potential for havoc over 800 miles from the East Coast to the Great Lakes.
Lower parts of Manhattan around the Financial District are under mandatory evacuation orders.
Source: http://news.yahoo.com/storm-leads-companies-postpone-earnings-reports-104244104--finance.html
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