Pfizer and Deutsche Bank Report Mixed Quarters and 3 More Hot Stocks
Pfizer Inc. (NYSE:PFE): Earnings per share of 56 cents beat estimates by 1 cent, though revenue was off by $40 million at $12.97 billion with a 7 percent decline year-over-year, exacerbated by a 55 percent sales drop for Lipitor, though partially offest by a 10 percent bump for Lyrica. The company also announced a plan to split its generic business from its core development drug operations.
Deutsche Bank AG (NYSE:DB): Shares of Deutsche are off over 4 percent as the bank announced its pretax profits fell 18 percent to 792 million euros, sharply missing the consensus projections of 1.3 billion euros. Net profit was off by 49 percent to 335 million euros versus forecasts of 767.6 million euros, though revenue grew 2 percent to 8.2 billion euros. Legal provisions have been increased by 630 million euros to 3 billion euros, as the bank expects “settlements to accelerate in the coming quarters,” though it didn’t provide details on which issues are set to be resolved.
NYSE Euronext (NYSE:NYX): Shares of NYSE are remaining more or less flat as EPS for the second quarter reached 63 cents, beating estimates by 5 cents. Revenue of $611 million also passed projections, by $9.5 million, as net profits leapt 38 percent to $173 million, aided greatly by cost cuts and one-off gains. Additionally, Euronext is being bought by IntercontinentalExchange (NYSE:ICE) for $8.2 billion.
Siemens AG (NYSE:SI): Chief Financial Officer Joe Kaeser is apparently in negotiations to take over the throne from CEO Peter Loescher, who is set — and widely expected — to be fired from his post during a meeting of the supervisory board on Wednesday. Kaeser has been with Siemens since 1980 and in the CFO seat since 2006.
Aetna Inc. (NYSE:AET): Shares of Aetna were hovering around flat when the company released its quarterly results. Net profit swelled by 17 percent to $536 million, boosted by the completion of its $6.9 billion acquisition of Coventry Health Care back in May. EPS of $1.52 beat expectations by 12 cents, though revenue of $11.56 billion missed by $0.46 billion. Aetna is looking at a 2013 adjusted EPS of $5.80 to $5.90 per share, up from its previous guidance of $5.70 to $5.85 and the consensus of $5.80.