3 Stocks Making Moves in Early Trading
Bank of America (NYSE:BAC): The challenged Wall St. lender reported results for the second quarter this morning, reporting Q2 EPS of $0.33 that topped estimates by $0.03, with revenues of $13.48B, down -50.2% from the quarter last year. CEO Brian Moynihan adds, “Obviously, the solid performance in our underlying businesses continues to be clouded by the costs we are absorbing from our legacy mortgage issues, But it is clear that – from deposits to wealth management to investment banking – our customers and clients are choosing to do more with us every day. We intend to continue our efforts to put the mortgage uncertainty behind us, build capital through the strength of the franchise, and deliver the returns for shareholders that we owe them.” BAC stock down -0.41% premarket.
Johnson and Johnson (NYSE:JNJ): The global healthcare leader reported its second quarter results this morning as well, marking a Q2 EPS of $1.28 that beat estimates by $0.04. The company also recorded total revenue of $16.6B, up 8.3% for the year, and maintained its FY’11 EPS guidance of $4.90-5.00. CEO William C. Weldon noted, “Our recently launched pharmaceutical products continued to achieve strong growth and contributed to our solid second quarter results. We received several new product approvals across our businesses which will benefit patients around the world and drive future growth. We continue to invest in building leadership positions and capabilities, and our pending acquisition of Synthes demonstrates our ongoing commitment to serve patients while enhancing shareholder value.” JNJ stock up .16% premarket.
Coca-Cola Company (NYSE:KO): The lead soft-drink maker also reported higher revenue in its FQ2 earnings today, and EPS that rose to $1.17, outperforming expectations by $0.01. Revenues jumped 44% YoY to $12.7 billion. CEO Muhtar Kent added, “We are pleased with our second quarter performance results. We completed the second quarter of 2011, and the sixth quarter of our 2020 Vision, by delivering results ahead of our long-term growth targets. Importantly, we are delivering these strong results at a time when global macroeconomic conditions are at best mixed. This serves to underscore how, together with our global bottling partners, we are decisively investing in the future and executing our 2020 Vision from a position of real strength” KO stock is up .57% premarket. Keep an eye on other top beverage stocks: PepsiCo, Inc. (NYSE:PEP), Dr Pepper Snapple Group Inc. (NYSE:DPS), Hansen Natural Corporation (NASDAQ:HANS), Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), Coca-Cola Enterprises Inc. (NYSE:CCE), and Jones Soda Co. (NASDAQ:JSDA).