Crude oil futures rose with heating oil jumping sharply on oil inventory report. Light sweet crude December contract rose to $63 and then fell $1.78 to $60.66 a barrel on the Nymex. Heating oil climbed 2.5% before falling 3.4 cents to $1.898 a gallon. Gasoline lost 8 cents to $1.6211.

Gold was mixed in European trading. In London gold closed at $471.80 per troy ounce, down from $471.85. In Zurich it finished at $472, down from $472.35. In Hong Kong the precious metal rose $5.30 to close at $472.35. Silver closed at $7.83, up from $7.78. in New York gold closed lower $1.70 to $473 per ounce.

In European trading the U.S. dollar climbed against its major counterparts. The euro was quoted at $1.2071, down from $1.2096. The dollar changed hands at 115.76 yen, up from 114.88. The British pound was trading at $1.7749, down from $1.7844.

EARNINGS NEWS

Kerr-McGee Corp. (KMG: chart), oil and gas company, posted Q3 net income of $3.09 a share, up from 5 cents a share in the year-ago period on higher sales of oil and natural gas, beating analyst estimate of $2.64 a share. Excluding results from discontinued operations in the North Sea and elsewhere, earnings totaled $2.53 a share, up vs. 95 cents. Revenue advanced slightly to $1.208 billion from $1.202 billion.

Amerada Hess Corp. (AHS: chart), oil and gas exploration company, reported Q3 net income of $2.60 a share, up vs. $1.74 a share in the year-earlier period on revenue growth, missing analyst estimate of $3.31 a share. The company added that hurricane activity in the Gulf of Mexico reduced Q3 exploration and production earnings by around $25 million, and generated exceptional costs of $14 million, after tax.

WellPoint Inc. (WLP: chart), health insurer, announced net income advanced to $1.02 per share, up from 85 cents per share in the same period last year, beating analyst estimate, excluding special items, by a penny.

Sprint Nextel Corp. (S: chart), communication products and solutions provider, posted Q3 earnings of 23 cents a share, up from a loss of $1.32 a share in the year-ago period on 35% revenue growth, on a consolidated basis. On an adjusted basis, if not for certain items, the company gained 29 cents a share, topping its year-ago equivalent profit of 25 cents a share. On a pro forma basis, the company posted adjusted earnings of 25 cents a share.

Starwood Hotels & Resorts Worldwide (HOT: chart), hotel chain, announced that Q3 net profit dropped 64% compared with the year-ago period to 17 cents a share despite 11.9% revenue growth. Excluding a tax expense on repatriating earnings and a tax expense related to its 1998 sale of ITT World Directories, earnings would have been 58 cents a share, topping analyst estimate of 52 cents a share. Same-store revenue per available room rose 13.2% in North America and 11.9% worldwide, the company stated. Starwood is looking for EPS before items of $2.27 for 2005 and $2.70 in 2006, with $6 billion in 2005 revenue.

Cardinal Health Inc. (CAH: chart), health care industry company, posted Q3 net income of 53 cents a share, up from 49 cents a share in the same period last year on 9% revenue growth, missing analyst estimate of 72 cents a share. Earnings from continuing operations came in at 54 cents a share, up vs. 51 cents a share.

Pixar Inc. (PX: chart), specialty gases and surface coatings manufacturer, posted Q3 net income of 33 cents a share, down from 53 cents in the same period last year. Earnings for Q3 incorporated a charge of 28 cents a share, largely related to Praxair's plan to repatriate $1.1 billion of foreign profits under the federal Jobs Creation Act of 2004. Adjusted earnings per share of 61 cents a share were in line with analysts’ forecasts of 60 cents. The company announced that hurricanes Katrina and Rita reduced earnings by about 3 cents a share. Sales in Q3 totaled $1.89 billion, up 13% from the prior year's $1.67 billion.

EnCana Corp. (ECA: chart), natural gas producer, reported that Q3 net profit dropped 38% to 30 cents a share from the year- ago period. The company announced Q3 results incorporated a $604 million hedging hit and a $166 million gain from foreign exchange rates. Revenue net of royalties rose 33% to $3.09 billion.

Lear Corporation (LEA)), automotive interior systems supplier, reported Q3 a net loss of $11.17 per share, down vs. a net income of $1.26 per share for the comparable period in 2004. Excluding the impairment and restructuring charges, Lear would have reported a net loss of 10 cents per share.

Lear Corporation (AGR: chart), automotive interior systems supplier, reported Q3 a net loss of $11.17 per share, down vs. a net income of $1.26 per share for the comparable period in 2004. Excluding the impairment and restructuring charges, Lear would have reported a net loss of 10 cents per share.

Diamond Offshore Drilling, Inc. (DO: chart), drilling company, reported Q3 net income of 60 cents per share, up from 2 cents per share in the same period a year ago on revenue growth. Q3 results of current quarter reflect the impact of hurricanes Katrina and Rita. The Company recorded a Q3 after-tax gain of 16 cents per share, related to insurance proceeds from the previously reported casualty loss of the 300-ft. jack-up Ocean Warwick.

Air Products (APD: chart), gases, chemicals and equipment company, reported Q4 net income of 79 cents a share, up from 73 cents a share in the year-ago period on 5% revenue growth and improved pricing and energy costs pass-throughs, topping analysts’ expectations of 77 cents a share. The company added the impact of recent hurricanes cut earnings by 6 cents a share.