Newmont Mining (NEM): Q2 EPS of $0.90 misses by $0.09. Revenue of $2.40B (+10.7% Y/Y) misses by $110M.
Calpine (CPN): Q2 EPS of -$0.14 misses by $0.15. Revenue of $1.63B (+14% Y/Y) beats by $180M.
Aon Corporation (AON): Q2 EPS of $0.83 beats by $0.01. Revenue of $2.80B (+48.6% Y/Y) beats by $50M.
Merck to Cut as Many as 13,000 Jobs Merck’s second-quarter earnings more than doubled, helped by a tax benefit and growth in pharmaceutical sales, and the company said it plans to cut another 12,000 to 13,000 positions by the end of 2015.
Newell Rubbermaid’s Earnings Rise 13% Newell Rubbermaid’s second-quarter earnings rose 13%, helped by fewer restructuring costs, but margins fell as price increases couldn’t offset rising commodity costs.
Total Hit by Weaker Production The company said that net profit fell to €2.73 billion ($3.91 billion) from €3.1 billion in the same quarter of 2010. The company also reported a 6% drop to €2.79 billion in the closely-watched adjusted net profit figure, down from €2.96 billion. Revenue rose 9% to €45 billion from €41.33 billion. The French oil giant also became the latest European oil major to report weaker year-to-year oil and gas production, with seasonal maintenance and the loss of Libyan crude some of the common themes to affect the sector.
Eni’s Net Falls on Libyan Cutbacks Eni SpA Friday said second-quarter net profit dropped 31% from a year earlier despite higher crude prices, and warned its halted Libyan production would contribute to an expected 10% decline in its hydrocarbon output for the full year.
Pearson Raises Profit Forecast Pearson PLC Friday raised its 2011 earnings forecast and dividend, citing a stronger performance in digital businesses and developing markets despite a decline in its net profit.