The results missed expectations, but Delta Air Lines Inc. (DAL: chart) shares gained 12 cents, or 3.3%, to $3.77 in late morning trading on the NYSE as the company announced it aims at a transformation plan.

The company said that for the three months ending March 31 it lost $1.08 billion, or $7.64 a share, compared to a loss of $387 million, or $3.12 a share, for the same period a year earlier.

Delta's loss didn’t seem so frightening on the background of the losses reported over the past two days by other major carriers: Fort Worth, Texas-based AMR Corp. posted a $162 million loss Wednesday and Houston-based Continental Airlines Inc. lost $184 million in 1Q.

Delta said it lost $684 million, or $4.89 a share, excluding one-time items. Analysts forecast a loss of $4.76 a share.

Revenue climbed 3.3% to $3.65 billion, compared to $3.53 billion posted a year before.

Sherwin-Williams Co. (SHW: chart), the country's largest paint manufacturer, reported Thursday that 1Q earnings gained 62% on growing sales, acquisitions and a tax benefit.The results were in line with the company’s earlier estimates last week.

Sherwin-Williams gained $83.3 million, or 58 cents per share, up from $51.5 million, or 35 cents per share, a year earlier. Analysts expected a profit of 55 cents per share.

Revenue grew 17 percent to $1.54 billion from $1.32 billion.

For the second-quarter, the company forecasts earnings of 99 cents to $1.04 per share. Analysts are looking for profit of $1 per share.

Sherwin-Williams shares fell 47 cents to $43.74 in midday trading on the New York Stock Exchange.

PNC Financial Services Group Inc. (PNC: chart) on Thursday reported net income advanced almost 8% in 1Q on strong performance in the company’s banking division. Earnings surged to $354 million, or $1.24 per share, from $328 million, or $1.08 per share, a year earlier.

Excluding the benefit, results for the latest quarter beat the $1.01 per share expected by analysts.

In trading Thursday morning, PNC shares gained 96 cents, or nearly 2%, to $50.82 on the NYSE.

MBNA Corp. (KRB: chart), the world's largest independent credit card lender, on Thursday said quarterly profit plummeted on a one-time charge. The company also forecasts poor 2005 results, sending its stock down about 20%.

1Q for Wilmington, Delaware-based MBNA slid to $31.7 million or 2 cents a share, from $519.7 million, or 40 cents a share, a year ago.

Shares of MBNA were down $3.21 to $19.90 in late-morning trade on the NYSE.

The Atlanta-based Equifax (EFX: chart) reported earnings of $59 million, or 44 cents a share, up from $50.8 million, or 39 cents a share, last year. Sales rose 11% to $343 million.

The company was expected to earn 41 cents a share by analysts.

The operator of the nation's largest railroad Union Pacific Corp. (UNP: chart) on Thursday reported a 22% drop in its first quarter net income compared with the same quarter last year mainly on fuel prices.

Revenue in 1Q grew 9% to $3.2 billion compared to last year's $2.9 billion. Operating expenses gained 10%.

Net income dropped to $128 million, or 48 cents a share, in the three-month period, compared with $165 million or 63 cents a share in the same period last year.

Analysts expected 47 cents a share for the quarter, based on a range of 43 cents to 48 cents forecast by Union Pacific in March.