Wal-Mart says hurricanes will cut into profit

Wal-Mart Stores Inc. on Thursday said Hurricanes Katrina and Rita would likely trim 1 cent per share from its quarterly profit, but it still expects earnings in the range of 55 cents to 59 cents per share.

Analysts, on average, expect Wal-Mart to earn 58 cents per share in the fiscal third quarter that ends in October, according to Reuters Estimates.