Notable Earnings (BMY, Caterpillar Inc, CBE, COP, CP)
Bristol Myers Squibb Co (NYSE:BMY) went up 0.12% to $34.77 after the Company announced second quarter results. Profit was $645 million or 38 cents per share compared to $902 million or 52 cents per share in the prior year period. The sales declined 18% to $4.44 billion. U.S. sales decreased 27% to $2.6 billion while non-U.S. sales moved down 1% to $1.9 billion.
Caterpillar Inc (NYSE:CAT) went down 0.71% to $80.87 on a traded volume of 9.04 million shares. The Company expects profit to be about $9.60 per share in 2012. However, analysts’ estimate $9.54. The company expects sales to be in the range $68 billion to $70 billion. The decline in estimates is due to weaker economic conditions and the stronger dollar.
Cooper Industries plc (NYSE:CBE) moved up 0.79% to $70.18 on a traded volume of 648k shares after the Company reported second quarter results. Earnings per share were $1.17 compared to earnings per share of $.96 in the prior year period. Total operating profit margin was 16.7% in the second quarter of 2012. Revenues increased 7.4% to $1.47 billion. The core revenue growth was 5.5% with acquisitions adding 3.6%.
ConocoPhillips (NYSE:COP) declined 3.20% to $52.89 after the Company reported second quarter results. Net income decreased 33% in the second quarter. Earnings were $2.27 billion or $1.80 per share compared to $3.4 billion or $2.41 in the prior year period. Revenue declined 14% to $15.17 billion.
Canadian Pacific Railway Limited (USA) (NYSE:CP) after the Company released second quarter results. Total revenues were $1.4 billion, an increase of $101 million. Operating expenses were $1.1 billion in the second quarter 2012. Average fuel price was essentially flat at $3.49 per U.S. gallon compared to $3.50 per U.S. gallon. Operating income was $239 million, an increase of $8 million. Net income was $103 million, a decrease of $25 million. Diluted earnings per share were $0.60 per share, a decrease of $0.15 per share.