Verizon Communications Inc. (VZ: chart) said Tuesday its fiscal third-quarter earnings slump about 60%, hurt by weak demand in local services. The New York-based largest U.S. telephone company reported a profit of $1.8 billion, or 64 cents a share, on revenue of $17.16 billion, compared with $4.4 billion, or $1.60 a share, on revenue of $17.11 billion, in the same period a year earlier. Last year’s results included special gains and tax benefits from the sales of businesses. Excluding items, Verizon earned 67 cents a share, down from 77 cents a share in the prior year, but ahead of analysts’ forecasts of 62 cents a share. For the quarter ended September 30, Verizon’s core domestic telephone sales dropped 4% to $9.9 billion, from $10.3 billion. The surge in company’s wireless sales partially offset the drop in local telephone sales. Wireless sales were up 18% to $5.94 billion from $5.03 billion a year ago.

Verizon shares fell 15 cents, or 0.45%, to $33.08 on Tuesday. The stock gained 4 cents in after-hours trading.

Biogen, Inc. (BGEN: chart) posted Tuesday third-quarter net income of $55 million, or 36 cents per share, up from $42 million, or 28 cents per share, in the year-ago quarter. The Cambridge, Massachusetts-based drug-developer attributed the better results to stronger sales of Avonex, its multiple sclerosis medicine. Revenue was up 19% to $342 million.

The stock soared 5.62% to close Tuesday at $39.30. Company shares added 5 cents to $39.35 in after-market trade.

Gilead Sciences, Inc. (GILD: chart) of Foster City, California, said Tuesday its quarterly profit more than tripled on strong sales of its HIV drug Viread. The biotechnology company posted a net profit of $73.1 million, or 33 cents a share, up from $20.8 million, or 10 cents a share, a year ago. Gilead said its revenue for the quarter jumped 50% to $200.4 million.

Gilead shares rose 3.55% on Tuesday to $59.46. The stock shed 81 cents to $58.65 in after-hours trading.

Monster Worldwide, Inc. (MNST: chart), the New York-based operator of the world's No.1 job search Web site, Monster, said Tuesday its third-quarter earnings dipped 13% to 12.2 million, or 11 cents a share, from a year-ago profit of $14 million, or 12 cents a share. Total revenue was $173.7 million, down 2.9% from $178.9 million, a year earlier. Results were in line with Wall Street expectations.

The stock surged 4.43% to $26.66 at market close Tuesday. Company shares plummeted 5.29% to $25.25 in after-hours trading.

United States Steel Corp. (X: chart) reported Tuesday a loss of $349 million, or $3.42 per share, for its fiscal third quarter. For the 2002 equivalent, the Pittsburgh, Pennsylvania-based steelmaker posted earnings of $106 million, or $1.04 a share. The company cited a work force reduction charge as main factor for the loss. Revenue climbed to $2.51 billion from $1.91 billion a year earlier.

Company shares jumped 5.71% to close Tuesday at $22.03. The stock slipped 0.14% to $22.00 in after-market trade.

Lockheed Martin Corp. (LMT: chart) of Bethesda, Maryland, posted Tuesday third-quarter earnings of $217 million, or 48 cents per share, down 25% from $290 million, or 64 cents per share, in the year-ago period, on early debt repayment. The defense contractor said sales were up 23% to $8.1 billion, from $6.5 billion in the third quarter of 2002.

The stock slid 1.69% on Tuesday to $45.51. Company shares inched down a penny to $45.50 in after-hours trading.

R.J. Reynolds Tobacco Holdings, Inc. (RJR: chart) reported Tuesday a third-quarter net loss of $3.45 billion, or $41.31 per share, due to a big restructuring charge. This compares to a profit of $139 million, or $1.56 per share, for the same period a year ago. The Winston-Salem, North Carolina-based cigarette-maker said sales for the quarter sank 13% to $1.38 billion.

Company shares rose 13.23% to $48.97 at market close Tuesday. The stock dropped 56 cents to $48.41 in after-hours trading.

Cox Communications, Inc. (COX: chart), the Atlanta, Georgia-based provider of digital and broadband services, posted Tuesday a wider third-quarter net loss of $215.1 million, or 35 cents a share, compared with a loss of $73.1 million, or 12 cents a share, a year ago, due to charges on the elimination of debt. Revenue climbed to $1.46 billion from $1.28 billion.

Cox shares gained 70 cents to close Tuesday at $34.00. The stock added 0.03% to $34.01 in after-market trade.

Cummins, Inc. (CUM: chart) of Columbus, Indiana, said Tuesday its third-quarter profit dropped to $24 million, or 60 cents a share, from $44 million, or $1.05 a share, a year ago. The diesel engine maker cited weak sales as main factor for the decline in profit. Analysts had called for earnings of 67 cents a share.

The stock plunged 5.79% on Tuesday to $46.35. Company shares recovered 0.11% to $46.40 in after-hours trading.

Maxim Integrated Products, Inc. (MXIM: chart) reported Tuesday net earnings of $87.4 million, or 25 cents a share, on revenue of $310.2 million, for its fiscal first quarter ended Sept. 27, up from $73.2 million, or 22 cents a share, on revenue of $286 million, generated a year earlier. The Sunnyvale, California-based maker of integrated circuits said results were due to strong bookings in most of its business units.

Maxim shares closed Tuesday up $2.47, or 5.52%, at $47.25. The stock slipped 0.53% to $47.00 in after-hours trading.