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Short Take: Williams sees lower third-quarter earnings

Williams, the parent company of Williams Communications, expects its third-quarter earnings per share to fall below Wall Street expectations of 20 cents a share. Changes to the way Williams accounts for sales of unused fiber-optic cables will affect quarterly results. Separately, cooler-than-normal summer weather has hurt business at Williams Energy. The company said the performance of its communications and energy businesses are "generally within our expectations."

Williams, the parent company of Williams Communications, expects its third-quarter earnings per share to fall below Wall Street expectations of 20 cents a share. Changes to the way Williams accounts for sales of unused fiber-optic cables will affect quarterly results. Separately, cooler-than-normal summer weather has hurt business at Williams Energy. The company said the performance of its communications and energy businesses are "generally within our expectations."