Amgen (AMGN) shares rose sharply Wednesday after the company posted second quarter EPS (GAAP basis) of 82 cents, vs. 57 cents, on 23% higher revenue and 26% higher product sales. The biotech raised its 2005 revenue growth guidance to mid-to-high teens and EPS to $3.10 to $3.20. S&P ups to buy; Piper Jaffray ups to outperform.
General Motors (GM) posted a 56-cent second quarter loss per share (adjusted), vs. earnings per share of $2.42 (restated) one year earlier, on 1.6% lower revenue. The automaker says its North American unit's financial performance was "very disappointing".
Intel (INTC) posted second quarter EPS of 33 cents, vs. 27 cents, on a 15% revenue rise. The chipmaker sees third quarter revenue of $9.6 billion to $10.2 billion. S&P reiterates hold.
Yahoo (YHOO) posted second quarter EPS of 13 cents, vs. 8 cents, on a 51% revenue rise. Results for the current quarter exclude a 38-cent gain related to investment sales.
United Technologies (UTX) posted second quarter EPS of 95 cents (including items), vs. 81 cents, on a 16% revenue rise. The company sees 2005 EPS of $3.00 to $3.07.
Altria Group (MO) posted second quarter EPS from continuing operations of $1.40, vs. $1.26, on 8.3% higher net revenue. Altria raised its 2005 EPS from continuing operations guidance by 5 cents to the $5.00 to $5.10 range.
Pfizer (PFE) posted second quarter EPS of 47 cents, vs. 38 cents, on 1.2% higher revenues. The drugmaker now sees about $1.24 2005 EPS, compared with prior guidance of $1.04.
Stryker (SYK) posted second quarter EPS of 45 cents, vs. 37 cents, on a 17% rise in revenue, including a foreign currency benefit. The company cites sales increases in therapy centers, hospital services, and implant devices. S&P reiterates hold.
Bard (C.R.) (BCR) posted second quarter EPS of 79 cents, vs. 55 cents, including items, on a 7% rise in net sales. Bard cites healthy margins and controlled spending. S&P keeps buy.
Motorola (MOT) posted second quarter EPS from continuing operations of 38 cents, vs. 25 cents, on a 17% sales rise. It sees third quarter EPS from continuing operations of 27 cents to 29 cents on sales of $8.9 billion to $9.1 billion. S&P reiterates buy.
JP Morgan Chase (JPM) posted second quarter operating EPS of 66 cents, vs. 85 cents, on 6% lower total revenue and a 50% drop in trading revenue.
Eastman Kodak (EK) posted second quarter EPS (GAAP basis) of 51 cents, vs. 40 cents, on a 6% revenue rise. In an effort to accelerate digital transformation, the company is accelerating its restructuring plan; it raised its total workforce reduction to 22,500 to 25,000. S&P reiterates sell.
Juniper Networks (JNPR) posted second quarter EPS of 15 cents, vs. a 2-cent loss (GAAP basis), on a 61% rise in revenue. It cites sales growth in multimedia services, security, and network infrastructure.
Bain Capital Partners, Blackstone Management Associates IV, and Haier America Trading have decided not to further pursue a transaction to acquire Maytag (MYG).