Merrill Lynch & Co., Inc. (MER: chart) reported Tuesday that its quarterly earnings decreased 8% from last year, hurt by weaker results in its Global Markets and Investment Banking division. The financial services titan posted net income of $920 million, or 93 cents per share, for the third quarter of fiscal 2004 ended September 24. For the 2003 corresponding quarter, net earnings were $1 billion, or $1 per share. Despite the profit drop, the earnings topped by a penny a share the consensus analysts’ forecast. Quarterly net revenues dipped 3% to $4.84 billion. Analysts had predicted revenues of $4.93 billion in the quarter. New York-based Merrill Lynch cited reduced activity levels as main factor for the results. The company’s Global Markets and Investment Banking segment reported third-quarter pretax earnings of $771 million, down 22% from a year ago. Net revenue in the sector slipped 9% to $2.3 billion. For for the first nine months of 2004, earnings hit a record $3.3 billion, or $3.21 a share, in contrast to $2.6 billion, or $2.68 a share, for the first nine months of fiscal 2003.

M.D.C. Holdings, Inc. (MDC: chart) posted after market close Monday a 61% jump in its quarterly profits, powering past Wall Street’s projections, due to an increase in average selling price on a record number of homes closed. The Denver, Colorado-based homebuilder turned in a net profit of $105.1 million, or $3.07 a share, for its fiscal third quarter, in contrast to a profit of $65.5 million, or $1.96 a share, for the 2003 equivalent. The average analysts’ estimate was for earnings of $2.73 a share. Total revenues rose 28% to $1.03 billion in the quarter ended September 30, from year-earlier revenues of $798.9 million. The company said that its 2004 third-quarter net income and revenues were the highest in its 32-year history. For the first nine months of 2004, M.D.C. announced net income of $248.5 million, or $7.29 per share, on revenues $2.67 billion. That compares to net income of $145.2 million, or $4.39 per share, on revenues of $2.06 billion, for the same period last year.

Company shares gained 75 cents on Monday to $68.15. The stock dropped 5 cents to $68.10 in after-market trade.

Infosys Technologies Limited (INFY: chart) said Monday that its second-quarter net income surged 49% to 4.47 billion rupees ($97 million) from 3.0 billion rupees, for the prior-year period. The Bangalore, India-based information technology services firm beat analysts’ estimates for a profit of 4.32 billion rupees. Quarterly revenue advanced 52% to 17.5 billion rupees. Infosys attributed the results to increased outsourcing by telecommunications and financial companies.

The stock closed Monday at $56.05, up 26 cents, or 0.47%. Infosys shares added 10 cents to $56.15 in the extended session.

ADTRAN, Inc. (ADTN: chart) of Huntsville, Alabama, announced Monday quarterly earnings that missed analysts’ forecasts, hurt by lower-than-expected bookings. The networking equipment company posted a profit of $18.8 million, or 23 cents a share, for its third quarter, up from $17.2 million, or 21 cents a share, generated a year earlier. Sales for the quarter improved to $115.3 million from $106.2 million, in 2003. Analysts were looking for earnings of 24 cents a share, on sales of $115 million.

Company shares rose 0.29% to $20.47 at market close Monday. The stock inched up 2 cents to $20.49 in after-hours trading.

Stanley Furniture Company, Inc. (STLY: chart) reported Monday a third-quarter profit of $5.3 million, or 81 cents a share, up from a year-earlier profit of $3.7 million, or 59 cents a share, due to higher sales. The earnings of the Stanleytown, Virginia-based furniture maker outpaced the mean analysts’ forecast of 73 cents a share. The company recorded net sales of $77.2 million in the quarter, an 18.3% increase from last year.

The stock dipped 4.11% to close Monday at $42.67.

Universal Forest Products, Inc. (UFPI: chart) of Grand Rapids, Michigan, said Monday that its third-quarter earnings advanced 20% from a year ago, boosted by strong sales of its construction and industrial lumber products. The company rolled out a profit of $14.6 million, or 78 cents per share, for the third quarter of fiscal 2004, against a profit of $12.2 million, or 66 cents per share, in 2003. Results were 2 cents a share ahead of the average analysts’ estimate. Quarterly net sales leapt 32% to $709.3 million from $536.3 million.

Company shares shed 25 cents on Monday to $35.80. The stock rose 4.75% to $37.50 in extended trade.