General Electric (NYSE:GE): The famed conglomerate reported its 2nd quarter earnings after the bell yesterday, with net revenue up 21%. Earnings reached $3.77 billion, or 35 cents a share, from $3.11 billion, or 28 cents, in the year-earlier period. Revenue fell to $35.63 billion from $36.93 billion. Analysts polled by FactSet Research produced a consensus estimate of 32 cents a share of profit on $34.72 billion of revenue. GE stock is up 1.77% this morning on the news.
Verizon (NYSE:VZ): The telecomm giant reported second quarter earnings that were $1.61 billion, or 57 cents a share, compared with a loss of $1.19 billion, or 42 cents, in the year-earlier quarter. Revenue reached $27.54 billion from $26.77 billion. A survey of analysts produced a consensus estimate of 55 cents of profit on $27.47 billion of revenue. The company also announced current COO Lowell C. McAdam will be promoted to CEO, replacing Ivan G. Seidenberg, who will remain chairman. VZ stock down -0.88% premarket.
Caterpillar (NYSE:CAT): The mining and construction equiptment company reported second quarter earnings this morning, booking $1.02 billion, $1.52 a share, compared $707 million, or $1.09 a share in the year ago period. Total revenue was $14.23 billion, 37% higher than the same period last year. Analysts expected earnings of $1.74 a share on revenue of $13.30 billion. Caterpillar raised its guidance for 2011 to revenues in the range of $54 to $56 billion and earnings per share of $6.75 to $7.25. CAT stock is way down -6.33% in premarket trades.
McDonald’s (NYSE:MCD): The company reported second quarter net income that rose 15% on 16% higher revenue and 5.6% higher global comparable sales. Earnings reached $1.41 billion, or $1.35 a share, from $1.23 billion, or $1.13, in the year-earlier quarter. Revenue climbed to $6.91 billion from $5.95 billion. Analysts produced a consensus estimate of $1.28 a share of profit on $6.63 billion of revenue. MCD stock is up 2.0% this morning thanks to the news.