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Shares of Travelers Cos. (TRV) shot up more than 4 percent in pre-market action after the insurance giant Thursday reported a much higher third quarter profit, earning $935 million, or $1.65 a share. Per-share earnings far exceeded a consensus estimate of $1.30 a share, according to a poll of 15 analysts by Zacks.com. The company credited fewer losses from national disasters as part of the reason for the boost in profit. Last year, the Minneapolis-based company earned $214 million, or 36 cents a share, in the third quarter. Travelers also declared a 10 percent increase in its regular quarterly dividend and committed to buy back an additional $6 billion in shares.

AT&T (T) reported lower earnings as more and more Americans hang up on landline phone service. The nation’s largest communications company reported it earned $3.19 billion, down 1.2 percent from $3.23 billion a year ago. On a per-share basis, AT&T earned 54 cents a share, a penny less than last year. AT&T, which provides cellular phone service for Apple Inc.’s (AAPL) popular iPhone, said it added more than 2 million new wireless subscribers in the quarter, well surpassing expectations. Shares of AT&T were higher in extended hours trading, up more than 3 percent.McDonald’s Corp. (MCD) said profits rose 6 percent in the third quarter, as Americans, uninhibited by a soft economy, feasted heartily on the fast-food chain’s latest offering, the 1/3 pound Angus burger. In the three months ending Sept. 30, the Chicago-based company reported earning $1.26 billion, or $1.15 a share, even as revenue slid 3.5 percent to $6.05 billion on worldwide currency fluctuations. Last year, McDonald’s earned $1.19 billion, or $1.05 a share, on revenue of $6.27 billion. Shares of the company were trending higher ahead of the opening bell on Wall Street.

Microsoft Corp. (MSFT) today takes the wraps off the latest version of its venerable Windows operating system, Windows 7. Tech gurus have largely praised the new system for its faster operation and streamlined design, especially when compared to its bloated predecessor, Windows Vista. The new software retails for $120 for home users. Shares of the Redmond, Wash., company were slightly higher in pre-market activity, up 0.6 percent to $26.75.

Select analyst calls:

• Motorola Inc. (MOT) raised to Overweight at Thomas Weisel.
• Novellus Systems Inc. (NVLS) raised to Hold at Deutsche Bank.
• Chesapeake Energy Corp. (CHK) cut to Neutral at UBS.
• Tractor Supply Co. (TSCO) cut to Underweight at Piper Jaffray.

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