PRESS DIGEST- Wall Street Journal - Oct 26
Oct 26 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
Pentair Ltd (PNR.N) reported a higher-than-expected profit on Thursday in a report that does not yet include results from the Tyco International TYC.N flow control business, which merged with the company last month.
Pentair, which makes water treatment systems and thermal controls, reported net earnings of $30.4 million, or 30 cents per share, down from $51.1 million, or 51 cents per share, a year earlier.
Excluding items, Pentair earned 64 cents a share, 1 cent ahead of Wall Street's estimate, according to Thomson Reuters I/B/E/S.
Sales fell to $866 million from $891 million, with foreign exchange accounting for the decline.
Pentair last month merged with Tyco's former flow control unit, doubling in size and moving the company's incorporation to Switzerland. Pentair's fourth quarter will include results from both businesses.
The integration is well underway, and Pentair is on track to reach $5 in earnings per share by 2015, it said. (Reporting by Nick Zieminski in New York; Editing by Gerald E. McCormick and Lisa Von Ahn)
* Kirin says in talks for cooperation in distribution, procurement
Oct 26 The Coca-Cola group in Japan and brewer Kirin Holdings Co Ltd are near a deal for an operational and capital partnership amid intense price competition in the Japanese soft-drink market, the Nikkei reported.