Chevron, Merck, and Amgen with Earnings Reports Stock Investors Must Know

Chevron Corp. (NYSE:CVX): Chevron Corporation provides management and technology support to international subsidiaries that operate petroleum, chemicals, mining, power generation and energy services. The company reported results for the second quarter today, with net income rising to $7.76 billion ($3.85 per share) vs. $5.41 billion ($2.70 per share) in the same quarter a year earlier. This marks a rise of 43.5% from the year earlier quarter. Revenue rose 30.1% to $68.95 billion from the year earlier quarter. CVX beat the mean analyst estimate of $3.55 per share. It fell short of the average revenue estimate of $71.58 billion. The stock lost -0.96% by the closing bell.

“Our second quarter financial performance was very strong,” said Chairman and CEO John Watson. “Earnings gains versus last year’s quarter were primarily in our oil and gas exploration and production business, resulting from higher crude oil prices on world markets.”

Competitors to Watch: Exxon Mobil Corporation (NYSE:XOM), BP plc (NYSE:BP), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), TOTAL S.A. (NYSE:TOT), Hess Corp. (NYSE:HES), Suncor Energy Inc. (NYSE:SU) and Valero Energy Corporation (NYSE:VLO).

Merck & Co. (NYSE:MRK): Merck is a global research-driven company that develops and manufactures a range of innovative pharmaceutical products to improve human and animal health. Net income for the drug manufacturer rose to $2.02 billion (65 cents per share) vs. $752.4 million (24 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter. Revenue rose 7.1% to $12.15 billion from the year earlier quarter. MRK reported adjusted net income of 95 cents per share. By that measure, the company fell in line with the mean estimate of 95 cents per share. It beat the average revenue estimate of $11.78 billion. The stock dropped -2.29% in trading.

“Double-digit growth from key products, and successful new product launches in markets worldwide led to Merck’s strong second quarter results,” said Kenneth C. Frazier, president and chief executive officer. “We’re delivering on our promise to grow both the top and bottom lines while continuing our efforts to streamline and transform Merck. By improving the effectiveness and efficiency of our operations and focusing on scientific innovation, we are well-positioned for sustained and profitable growth in the future.”

Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Bristol Myers Squibb Co. (NYSE:BMY), GlaxoSmithKline plc (NYSE:GSK), Sanofi-Aventis SA (NYSE:SNY), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), and Novartis AG (NYSE:NVS).

Amgen Inc. (NASDAQ:AMGN): Amgen Inc. is a biotechnology medicines company that discovers, develops, manufactures and markets medicines for grave illnesses. Net income for Amgen fell to $1.17 billion ($1.25 per share) vs. $1.2 billion ($1.25 per share) a year earlier. This is a decline of 2.7% from the year earlier quarter. Revenues rose 4.1% to $3.96 billion from the year earlier quarter. AMGN reported adjusted net income of $1.35 per share. By that measure, the company beat the mean estimate of $1.30 per share. It beat the average revenue estimate of $3.78 billion. The stock has fallen -0.22% in after hours trades.

“Our products recorded a strong eight percent growth during the quarter,” said Kevin Sharer, chairman & CEO at Amgen. “Our business has momentum and we expect to be at the upper end of our revenue and EPS guidance ranges for the year.”

Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Biogen Idec Inc. (NASDAQ:BIIB), GlaxoSmithKline plc (NYSE:GSK), Genzyme Corporation (NASDAQ:GENZ), and Novartis AG (NYSE:NVS).

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