Stocks in the News: Pfizer, Merck, UBS

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.
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