Nokia Corp. (NYSE:NOK): Nokia’s losses have narrowed to “just” 227 million euros, from 1.41 billion last year. Earnings per share of zero euros beat the consensus, which called for a loss of 0.03 euros, although revenues of 5.7 billion euros did in fact miss forecasts of 6.34 billion euros. Nokia expects third-quarter handset sales to rise over those from the second quarter, with an operating margin of -2 percent as the company started to show signs of recovery toward the end second quarter following a difficult start to the year.
Morgan Stanley (NYSE:MS): Second-quarter earnings per share of 45 cents beat estimates by 1 cent, as revenue of of $8.3 billion beat estimates by $0.37 billion. Excluding DVA, revenue rose 25 percent year-over-year, and income of $898 million more than doubled. Non-compensation expense increased 8.3 percent and wealth management revenue weighed in at $3.5 billion with a pre-tax margin of 18.5 percent. However, it’s the announcement of federal approval to allow a $500-million stock buyback that’s moving the shares, at least according to UBS’s Brennan Hawken.
Mylan (NASDAQ:MYL): The company has won another round against Teva Pharmaceuticals (NYSE:TEVA) after a U.S. District Court found that Teva’s generic version of Mylan’s Perforomist Inhalation Solution is in violation of one of Mylan’s patents. Teva’s abbreviated new drug application for a generic Perforomist has not yet been granted tentative or final approval by the Food and Drug Administration, the statement says.
eBay Inc. (NASDAQ:EBAY): A second-quarter revenue miss and light guidance for the third quarter has led Needham to downgrade eBay to Hold, attributed to international softness and “slowing Marketplace fundamentals.” EBay’s management has maintained that the growth slowdown seen in the second quarter is an effect of macro conditions and has nothing to do with competition.