Tyco Shares Fall
Tyco International (TYC ) shares lost ground Tuesday after the company posted third quarter earnings per share (GAAP basis) from continuing operations of 56 cents, vs. 43 cents one year earlier, on a 3% revenue rise. The conglomerate sees fourth quarter earnings per share from continuing operations of 45 cents to 47 cents, excluding items; it expects fiscal 2006 earnings per share from continuing operations to increase 10%. Wachovia downgraded its opinion on the shares to market perform from outperform. S&P cut its estimates and reiterates its hold opinion.
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