Pfizer (NYSE:PFE): The global pharma leader reported second quarter earnings Tuesday, with net profit up to$2.61 billion, or 33 cents a share, from $2.48 billion, or 31 cents a share in the year-earlier period. Adjusted profit fell to 60 cents a share from 61 cents a share. Revenue dipped to $17 billion from $17.1 billion. Wall Street analysts expected Pfizer to earn 59 cents a share, on revenue of $17 billion, according to consensus among surveyed analysts. PFE stock is down -0.05% in trades.
Barclays Plc (NYSE:BCS): The UK-based bank and the second largest lender across the pond announced that it will cut a total of 3,000 jobs this year, about 1,400 have already been made. The financial will look to reduce costs after posting a 27% decline in pretax profit in the second quarter. Barclays joins foreign lenders HSBC (NYSE:HBC) and Credit Suisse (NYSE:CS) who both also recently announced plans to get layoffs underway. HSBC will cut 30,000 jobs while Suisse will drop 2,000 of its staff. BCS stock is up 2.58% today.
McGraw-Hill (NYSE:MHP): The company that owns and publishes Standard and Poor’s may be looking to split up and spin off some of its businesses. Bloomberg reports that hedge fund Jana Partners LLC recently purchased a significant stake in the company and is applying the heat on MHP to separate its education and financial information businesses. The stock has spiked 4.81% this morning.
Duke Energy (NYSE:DUK): The Charlotte based energy provider also reported second quarter results Tuesday. Profit rose to $435 million, or 33 cents a share, from a loss of $222 million, or 17 cents a share, in the year-ago period. Duke Energy’s adjusted net income fell to 33 cents a share, from 34 cents a share. Operating revenue increased to $3.53 billion, from $3.29 billion. Wall Street analysts expected Duke Energy to earn 30 cents a share, on revenue of $3.32 billion. DUK stock is up 0.80%. Keep your eye on the utilities sector (NYSE:XLU) today with lots of earnings action: American Electric Power Co., Inc. (NYSE:AEP), Progress Energy, Inc. (NYSE:PGN), DPL Inc. (NYSE:DPL), The Southern Company (NYSE:SO), PPL Corporation (NYSE:PPL), SCANA Corporation (NYSE:SCG), TECO Energy, Inc. (NYSE:TE), FirstEnergy Corp. (NYSE:FE), ALLETE, Inc. (NYSE:ALE), and Dominion Resources, Inc. (NYSE:D).