DOW JONES NEWSWIRES

Below is a synopsis of major earnings releases from Thursday morning:

Citi Posts Profit Amid Securities-Swap Gain

Citigroup Inc. (C) posted a narrow third-quarter profit, which suggests that the struggling bank has not yet reached solid ground. Revenue was virtually flat from the previous quarter, even excluding one-time charges, as was investment banking revenue. And throughout the company's vast global empire, revenue remained choppy. Shares fell some 6% Thursday after climbing two-thirds since July.

Goldman's Profit More Than Triples Amid Trading Ops

Goldman Sachs Group Inc. (GS), which just a year ago used federal aid to weather the financial crisis, churned out another blockbuster quarter, while bonuses remain on track to set a Wall Street record. Earnings more than tripled as the nimble investment banking giant parlayed increased risk-taking to cash in on trading and investments with its own money. Results, while not record-setting, demonstrate how the firm continues to distance itself from still-weakened competitors. But shares fell 2%, a pittance considering the stock has more than doubled this year.

Schwab Falls As Revenue Slides Amid Low Interest Rates

Charles Schwab Corp.'s (SCHW) profit fell one-third as money-market fund fee-waivers and low interest rates weighed on results at the granddaddy of discount brokerages. Shares fell nearly 4% as revenue missed analysts' expectations, even while total client assets rose 5% from a year earlier.

Southwest Posts Another Loss, Expresses Pessimism

Southwest Airlines Co. (LUV) kicked off the reporting season for U.S. carriers with a narrow loss, its fourth in five quarters after 17 years of uninterrupted profitability, as hedging losses again impacted the bottom line. But the latest quarter was also hit with buyout costs as the carrier encouraged some employees to leave. Shares fell 6% as the company isn't optimistic amid the specter of potentially higher energy costs and the likelihood that business travel will remain depressed. Capacity is expected to remain flat again next year.

Baxter Intl's Earnings Rise 12% But Revenue Falls Short

Baxter International Inc. (BAX) posted a 12% profit gain, helped by lower costs this year and a bigger tally of charges a year ago. Sales were flat due to the effects of currency rates and delays in its business for plasma-based medical products. Shares dropped 4% as revenue missed analysts' expectations.

McClatchy Posts Profit Surge On Items; Ad Woes Persist

McClatchy Co.'s (MNI) profit surged on one-time items while advertising revenue dropped slightly less sharply than earlier this year. The publisher of 30 daily newspapers anticipates the ad woes continuing this quarter, with October so far in line with the third quarter's 28% decline. Shares slid nearly 15% to $3.45, but that is far about the level - below 50 cents - that the stock was at in July before rocketing like other newspaper publishers amid hopes the worst for the industry is behind them.

Winnebago Loss Widens, But Worst May Be Over

Winnebago Industries Inc.'s (WGO) fiscal fourth-quarter loss widened from writing down the value of credits it could have used to offset future income taxes as motor-home deliveries continue to slump. But shares rose some 4% as Chief Executive Robert Olson said the mobile-home sales slump may be over.

Safeway Inc.'s Earnings Drop Amid Falling Gasoline Sales

Safeway Inc.'s (SWY) fiscal third-quarter earnings fell 35% as reduced overhead costs weren't enough to offset falling fuel sales, lower prices and the effects of the Canadian dollar. But its stock rose about 5% as earnings edged analysts' expectations and CEO Steve Burd noted that transaction counts rose and "volume trends continue to improve."

PPG Earnings Up 36% On 2008 Restructuring Charges

PPG Industries Inc.'s (PPG) third-quarter profit rose 36% on prior-year restructuring charges, but the paint, glass and chemical maker continued to report weak demand. Results, however, topped analysts' expectations on cost cuts and higher margins. Shares were little changed.

Knoll Tops Downbeat Estimates, But Stock Still Falls

Office-furniture maker Knoll Inc. (KNL) posted a less-than-expected 76% drop in third-quarter profit amid continuing demand woes and plunging orders. Shares fell 5% following a one-third climb the past three months.

Polaris Beats Expectations, Raises Outlook; Stock Pops

Polaris Industries Inc.'s (PII) earnings fell a less-than-expected 17%, as the company said it cut operating costs amid a 25% drop in sales. The outdoor-recreation vehicle maker also boosted its earnings outlook for the year, helping send its stock up 10%.

-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com