Will Sirius-XM, Pfizer, and Marathon Oil Drag Down Markets?
Sirius-XM Radio (NASDAQ:SIRI): The satellite radio company reported its fiscal results for the second quarter Tuesday. Net income for the broadcasting company rose to $173.3 million (3 cents per share) vs. $15.3 million (0 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter. Revenue rose 6.4% to $744.4 million from the year earlier quarter. Sirius beat the mean analyst estimate of one cent per share. Analysts were expecting revenue of $752.5 million. SIRI stock sank 1.90% in trading.
“Our results in the second quarter were strong, and we are proud of our record levels of subscribers, revenue, and adjusted EBITDA and growth in free cash flow. SiriusXM continues to perform well, and we are pleased to raise our subscriber guidance and, for the second time this year, our free cash flow guidance,” said Mel Karmazin, Chief Executive Officer, SiriusXM.
Competitors to Watch: Pandora (NYSE:P).
Pfizer Inc. (NYSE:PFE): Pfizer Inc. is a global pharmaceutical company which develops and manufactures prescription medications for humans and animals. The company reported its second quarter results Tuesday, with net income rising to $2.61 billion (33 cents per share) vs. $2.48 billion (31 cents per share) in the same quarter a year earlier. This marks a rise of 5.5% from the year earlier quarter. Revenue fell 2% to $16.98 billion from the year earlier quarter. The company reported adjusted net income of 60 cents per share. By that measure, the company beat the mean estimate of 59 cents per share. Analysts were expecting revenue of $16.98 billion. PFE stock was down -4.58% on the day.
Ian Read, President and Chief Executive Officer, stated, “Our performance this quarter was in-line with our expectations. Although results were impacted by losses of exclusivity of several key products in certain geographies, most notably in our Established Products business, I am pleased that many of our core products, primarily Lyrica, Enbrel and the Prevnar/Prevenar franchise, continued to perform well overall and the fundamentals of our business remain strong. We will continue to invest in areas that will enhance our presence, expand the breadth of our portfolio and position our businesses to better capitalize on high-growth opportunities.”
Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Merck & Co., Inc. (NYSE:MRK), GlaxoSmithKline plc (NYSE:GSK), Bristol Myers Squibb Co. (NYSE:BMY), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Novartis AG (NYSE:NVS), Mylan Inc. (NASDAQ:MYL), Amgen, Inc. (NASDAQ:AMGN), and Sanofi-Aventis SA (NYSE:SNY).
Marathon Oil Corp. (NYSE:MRO): The oil (NYSE:USO) and natural gas (NYSE:UNG) exploration and production company with operations in the North America, Africa and Europe, reported its most recent earnings. Net income for Marathon Oil Corporation rose to $996 million ($1.39 per share) vs. $709 million ($1 per share) in the same quarter a year earlier. This marks a rise of 40.5% from the year earlier quarter. Revenues rose 31.8% to $3.87 billion from the year earlier quarter. MRO stock is up 2.60% after hours.
“In the second quarter we successfully completed the spin-off of our downstream business and announced the pending $3.5 billion acquisition of assets in the Eagle Ford shale in Texas,” said Clarence P. Cazalot Jr., Marathon Oil`s chairman, president and CEO. “Our second quarter financial results, while solid, were negatively impacted by unplanned downtime at key international operations which held our second quarter production to the lower end of guidance. These operations are all back operating at or above expected capacity.”
Competitors to Watch: Chevron Corporation (NYSE:CVX), ConocoPhillips (NYSE:COP), Hess Corp. (NYSE:HES), Exxon Mobil Corporation (NYSE:XOM), BP plc (NYSE:BP), TOTAL S.A. (NYSE:TOT), Statoil ASA (NYSE:STO) and Murphy Oil Corporation (NYSE:MUR).