Stocks in the News: Pfizer, Merck, UBS

Before you go, we thought you'd like these...
Before you go close icon
The following is a round-up of news likely to affect stock prices today:

Pfizer (PFE) reported on Tuesday its first-quarter net income fell 26% because of the Wyeth acquisition, but adjusted net income rose 33% to 60 cents a share. Revenue jumped 54% to $16.8 billion, due to the addition of Wyeth products. Results beat analyst expectations for earnings of 53 cents a share and revenue of $16.6 billion. Pfizer reaffirmed 2010 outlook, but lowered 2012 revenue target. Shares rose over 1% in premarket trades.

Merck & Co. (MRK) reported Tuesday a 7% jump in first-quarter sales to $11.42 billion. But charges related to its November deal to buy Schering-Plough pulled profit down sharply to $298.8 million, or just 9 cents per share. Excluding charges, Merck would have earned 83 cents a share, beating estimates for earnings of 75 cents per share and revenue of $11.18 billion.

MasterCard Inc. (MA) reported Tuesday its first-quarter profit rose 24%, with more people using credit cards as the economy rebounds and as the company raised prices. MasterCard said it earned $455 million, or $3.46 per share, on revenue of $1.3 billion, beating estimates of $3.14 per share Wall Street was expecting. Shares were over 2% higher in premarket trades.

UBS AG (UBS) reported Tuesday a first-quarter net profit of 2.2 billion Swiss francs ($2 billion) on a strong performance by its trading division, lower costs and fewer customer withdrawals. While results beat estimates, investors were concerned that part of the gains came from freed-up reserves. Shares fell over 2% ahead of the bell.

Sirius XM (SIRI) reported Tuesday it swung to a first quarter profit of 1 cent per share, better than the break-even results analysts had expected. Revenue for the quarter rose 13% to $663.8 million, below estimates of $671.32 million. Shares climbed 1.6% before the bell.

Archers Daniels Midland (ADM) reported Tuesday its fiscal third-quarter earnings rose to $421 million, or 65 cents a share, as net sales rose to 2% $15 billion. Earnings and sales missed analyst estimates for earnings of 72 cents a share on sales of $15.76 billion.

CVS Caremark (CVS) reported Tuesday that first-quarter profit rose 4.5% to $771 million, or 56 cents a share, as revenue rose to $23.76 billion. Adjusted earning of 60 cents per share beat estimates by 2 cents, but sales missed expectations. CVS hiked 2010 guidance.

Teva Pharmaceutical Industries Ltd. (TEVA) reported Tuesday its first-quarter profit climbed 58% to $713 million, or 79 cents per share, or adjusted 91 cents per share, because of decreased buyout costs and better sales of its multiple sclerosis drug Copaxone. Revenue grew 16% to $3.65 billion. Analysts expected profit of 89 cents per share and $3.7 billion in revenue.

McKesson Corp (MCK) reported worse-than-anticipated fourth-quarter earnings, but gave an optimistic outlook for the next fiscal year. Shares were 3.5% higher in premarket trades.

Baxter International (BAX) was ordered by the FDA to recall all of its Colleague infusion pumps. Shares dropped 2% ahead of the bell.

Interactive Data (IDC) announced it agreed to be acquired by private equity firms Silver Lake and Warburg Pincus for $3.4 billion.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners