Exxon-Mobil (NYSE:XOM): The leading oil company reported its results for the second fiscal quarter today, with net income rising to $10.7 billion ($2.18 per share) vs. $7.56 billion ($1.60 per share) in the same quarter a year earlier. This marks a rise of 41.5% from the year earlier quarter. XOM fell short of the mean analyst estimate of $2.34 per share. The stock closed down -2.22%.
Competitors to Watch: Chevron Corporation (NYSE:CVX), BP plc (NYSE:BP), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), TOTAL S.A. (NYSE:TOT), Suncor Energy Inc. (NYSE:SU) and Petroleo Brasileiro SA (NYSE:PBR).
Bristol-Myers Squibb (NYSE:BMY): The worldwide pharmaceutical developer published the results of its second quarter today. Net income for the drug manufacturer fell to $902 million (52 cents per share) vs. $927 million (53 cents per share) a year earlier. This is a decline of 2.7% from the year earlier quarter. Revenues rose 14% to $5.43 billion from the year earlier quarter. BMY reported adjusted net income of 56 cents per share. By that measure, the company beat the mean estimate of 55 cents per share. It beat the average revenue estimate of $5.04 billion. The stock ended up 1.54% in trading.
“I am proud of this organization and our strong second quarter results across the board-financially, clinically, and operationally. This performance demonstrates the success of our BioPharma strategy in delivering short term results and in positioning the Company for the future,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. “While we delivered double-digit sales growth during the second quarter, driven in part by the strong initial performance of YERVOY (ipilimumab), we also received regulatory approval for NULOJIX (belatacept) in the U.S. and Europe, and ELIQUIS in Europe for VTE prevention. That brings us to three new products approved in three months, including the approval of YERVOY in the U.S. in March. We also presented clinical data from our oncology and diabetes franchises, and announced important positive top line results from our Phase III ARISTOTLE trial on ELIQUIS for stroke prevention in patients with atrial fibrillation.”
Competitors to Watch: Pfizer Inc. (NYSE:PFE), Merck & Co., Inc. (NYSE:MRK), Eli Lilly & Co. (NYSE:LLY), Sanofi-Aventis SA (NYSE:SNY), Abbott Laboratories (NYSE:ABT), Novartis AG (NYSE:NVS), Johnson & Johnson (NYSE:JNJ), GlaxoSmithKline plc (NYSE:GSK), and AstraZeneca plc (NYSE:AZN).
Kellogg Company (NYSE:K): The cereal and convenience food-maker reported its earnings for the second quarter. Net income rose to $343 million (94 cents per share) vs. $302 million (79 cents per share) in the same quarter a year earlier. This marks a rise of 13.6% from the year earlier quarter. Revenue rose 10.6% to $3.39 billion from the year earlier quarter. The company beat the mean analyst estimate of 91 cents per share. It beat the average revenue estimate of $3.29 billion. K stock traded up 0.49% by the closing bell.
“We continue to build momentum as demonstrated by our solid first half top-line results. During the second quarter, we benefited from improved net price realization and were pleased with the performance of our strong innovation,” said John Bryant, Kellogg Company’s president and chief executive officer. “As we look to the back half of 2011, we expect continued sales growth driven by price and mix and are confident in our innovation line up and commercial plans.”