Market Overview

Market Update

Shares of Johnson Controls Inc (NYSE: JCI) gained about 5.9% after the company issued downbeat fourth-quarter and 2012 earnings forecast. Johnson Controls is scheduled to report its Q4 results on October 27. It projects an adjusted quarterly profit of $0.75 per share on sales of around $10.7 billion. However, analysts are expecting earnings of $0.78 per share on revenue of $10.5 billion. Johnson Controls expects 2012 earnings of $2.85 to $3.00 per share on sales of around $44.2 billion. However, analysts are projecting 2012 earnings of $3.10 per share on sales of $44.6 billion.

RRsat Global Communications Network Ltd (NASDAQ: RRST) announced the departure of its Chief Financial Officer, Mr. David Aber, effective December 1st, 2011.

Shares of Genesis Energy LP (NYSE: GEL) gained about 1.8% after the company announced its plans to pay a regular quarterly distribution of $0.4275 per Common Unit for the quarter ended September 30, 2011.

Shares of Host Hotels & Resorts Inc (NYSE: HST) fell about 3% after the company reported a narrower fiscal third-quarter net loss on Wednesday. Host Hotels posted a quarterly net loss at $33 million, versus a loss of $58 million, in the year-ago period. Its revenue climbed 14% to $1.14 billion. Its loss per share came in at $0.05 per share, versus a loss of $0.09 per share. However, analysts were expecting a loss of $0.04 per share. For the year, Host Hotels projects a loss of between $0.01 and $0.03 per share.

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