BP Posts $6 Billion Loss
BP swung to a loss as earnings were hit by lower oil prices and
a multibillion-dollar charge relating to its recent Deepwater
Horizon settlement.
Pfizer Boosts Its Earnings Outlook
Pfizer lifted its full-year outlook as its new treatments
continued to drive growth in the second quarter.
Ford Posts 44% Jump in Profit
Ford Motor Co. reported a 44% jump in net income for the second
quarter with North America recording its largest quarterly profit
ever and profit margins rising in Asia Pacific.
At P&G, Lafley Prepares to Hand Over Reins
Procter & Gamble is expected to soon name David Taylor as
CEO, succeeding A.G. Lafley, who came out of retirement to take a
second stint running the company.
DuPont Trims Outlook on Agricultural Weakness
DuPont on Tuesday trimmed its earnings outlook for the year, as
weak demand in crop protection markets, lower corn area in Latin
America and tepid soybean volumes weigh on its agricultural
business.
Merck Earnings Top Views Amid Cost Cuts
Merck reported better-than-expected profits for the June quarter
amid lower costs and said it planned to buy a cancer drug developer
for $95 million.
Honeywell Pays $5.1 Billion for German-Based Elster
Honeywell has agreed to buy German-based energy and water
business Elster Group from the U.K.'s Melrose Industries for £3.3
billion ($5.1 billion) in cash.
Eastman Chemical Reports Higher Earnings
Eastman Chemical Co. reported a surprising increase in earnings
in its most recent quarter, boosted by recent acquisitions, even as
its sales fell below analysts' estimates.
Reynolds American Lifts Earnings Outlook
Reynolds American Inc. lifted its earnings outlook for the year
as its recent acquisition of Newport-cigarette maker Lorillard Inc.
helped drive growth in the second quarter.
Zurich Insurance Weighs RSA Bid
Zurich Insurance said it may try to buy U.K.-based RSA Insurance
in a deal that could be valued at more than $8 billion.
LyondellBasell Tops Expectations
LyondellBasell Industries said profit in its latest quarter
rose, despite a sharp decline in revenue driven by lower product
prices.
Sirius XM Holdings Boosts Guidance as Subscribers Grow
Sirius XM on Tuesday boosted its revenue and subscriber guidance
for the year on Tuesday after new subscriber additions surged 46%
the in the second quarter.
Orange's Sales Beat Expectations
Orange said first-half sales fell less than expected, as more
customers in France opted for premium offers and the effects of a
brutal price war in the country's mobile market showed signs of
easing.
Deutsche Börse Plans Job Cuts
Germany's Deutsche Börse reported double-digit-percentage rises
in revenue and net profit, and set 2018 earnings targets that will
include job cuts.
Diageo Terminates Heineken Partnership in South Africa
Diageo said it will terminate its partnership with Heineken in
South Africa, as the world's largest spirits maker moves to wield
more control over an increasingly important market.
Marsh & McLennan's Profit Falls
Professional-services firm Marsh & McLennan said revenue
fell 3% in the June quarter as the stronger dollar continued to
weigh on results.
GKN Ups Aerospace Stakes With Fokker Buy
GKN has agreed to acquire the Netherland's historic Fokker
Technologies Group as the British engineering company deepens its
bet on the aerospace sector.
Samsung Looks to Bigger Galaxy for Smartphone Star
Samsung is revamping one of its most important product releases
of the year, underscoring the pressures the company faces as its
mobile earnings take a hit from Apple and Chinese rivals.
GM, SAIC to Jointly Design New Cars
General Motors plans a $5 billion initiative with China's SAIC
Motor to overhaul how it develops cars for emerging markets,
committing to a family of lower-cost Chevrolets for developing
markets by 2019.
Payments Startup Stripe Raises Funds at $5 Billion Valuation
Visa and venture-capital firm Kleiner Perkins Caufield &
Byers were among the investors in the five-year-old startup's
latest funding round.
Precision Castparts Misses Wall Street Views
Precision Castparts Corp. fell short of Wall Street expectations
for earnings and revenue in its quarter ended June, with profit
sliding 17.4% during the three-month period.
WestJet Airlines Profit Climbs 19%
WestJet Airlines Ltd. on Tuesday reported a 19% increase in its
second-quarter profit and slightly stronger revenue, helped in part
by lower fuel costs.
Baidu Earnings Disappoint
The Chinese search giant missed analyst forecasts for its
second-quarter earnings as competition heats up among Chinese
Internet companies offering online-to-offline services.
Caterpillar to End Navistar Dump-Truck Deal
Caterpillar Inc. plans to begin building its own line of dump
trucks at a plant in Texas and wind down an existing arrangement it
has with Navistar International Corp. to build the trucks, a person
familiar with the matter said.
Prosecutors Appeal Judge's Ruling Absolving Trading Programmer Sergey Aleynikov
The Manhattan District Attorney's office has appealed a judge's
decision that absolved Sergey Aleynikov, a programmer accused of
stealing trading software from Goldman Sachs and exonerated by two
separate courts.