Pfizer Inc. (NYSE:PFE): Pfizer has agreed to a $491 million settlement to put charges of criminal and civil violations over the illegal marketing of Rapamune, a kidney-transplant drug, to rest. Pfizer pleaded guilty to the charges that stemmed from the 2009 purchase of Wyeth Pharmaceuticals for $68 billion. Rapamune, approved for use in kidney transplants, was promoted for use with other organ transplants by Wyeth, as well.
Lockheed Martin (NYSE:LMT): The Pentagon plans to buy 71 more F-35 fighter jets from Lockheed, and has agreed in principle to the purchase after it was able to negotiate a price cut with the defense contractor. Now, the Pentagon will buy 36 aircraft for 4 percent less than it paid last year and 35 planes for 8 percent less. The deal, in total, is worth more than $7 billion.
AU Optronics Corp. (NYSE:AUO): Second-quarter earnings per share of 14 cents was enough to beat expectations by 4 cents, and revenue of $3.75 billion also beat projections, by $0.1 billion. The company sported a gross margin of 10.3 percent and an operating margin of 4.6 percent as large-size panel shipments reached around 30.5 million units, a 13.2 percent quarter-over-quarter gain. Shipments for small and medium-size panels were around 36.6 million units, up 19.2 percent quarter-over-quarter.
Comcast Corp. (NASDAQ:CMCSA): Quarterly EPS of 65 cents beat estimates by 2 cents, with $16.3 billion beating by $0.29 billion. Revenue for NBC Universal grew 8.9 percent to $6 billion with Filmed Entertainment and Cable Networks businesses both performing strongly. The combined tally of video, high-speed Internet, and voice customers was 52.1 million, an increase of 3.1 percent year-over-year.
Garmin Ltd. (NASDAQ:GRMN): Garmin shares are up over 6 percent in the wake of a strong quarterly report, which saw EPS of 76 cents beat by 10 cents and revenue of $697 million beat by $31.16 million. Automotive and mobile revenue — about 49 percent of the total — continued to fall due to smartphone proliferation. Sales fell 12 percent year-over-year. The drop was offset by Aviation sales, which grew 16 percent; Marine, up 7 percent; and Outdoor, up 6 percent.