Earnings reports
- Goodyear Tire & Rubber Co. reported its third-quarter net income fell 32 percent to $110 million, or 41 cents per share, while revenue dropped 13 percent to $5.26 billion. The declines were due largely to falling tire demand in Europe that offset cost cuts and profits from North America.
- Kia Motors Corp. said its July-September profit rose 28 percent over a year earlier to $755 million. Operating income reached $786 million, up 4 percent from a year earlier. Revenue rose 16 percent to $1.06 billion.
- Merck posted a 2 percent increase in third-quarter profit, at $1.7 billion. That's despite new generic competition slashing sales for top seller Singulair for asthma and allergies. It had generated $5.5 billion a year. Adjusted net income was $2.9 billion, or 95 cents per share, 2 cents more than expected. Revenue was down 4 percent at $11.5 billion.
- Samsung Electronics Co. said July-September net profit nearly doubled to $5.97 billion from $3.14 billion a year earlier. Revenue for the third quarter climbed 26 percent to $47.6 billion.