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Market Update

Merck and Pfizer Struggle with Sales; BP Net Climbs


Author: Mukesh Buch
ticker.com
Last Update: 12:49 PM ET July 29 2014

12:45 PM New York Aetna revenue surged 26% but net rose 2%. BP profit climbed 61%. Ecolab net surged 46% on 7% increase of revenue. Merck net soared 121% but sales fell. Pfizer net plunged 79% and revenue dropped 2%. United Parcel net tumbled 57.6% while revenue jumped 6%.

Tollbooth Investing Index edged up 0.03% or 2.83 to 9,487.46.

Rising tensions between Europe and Russia overshadowed market sentiment on both sides of Atlantic.

S&P 500 index decreased 1.90 to 1,977.01 and the Nasdaq Composite Index added 8.55 to 4,453.46.

Earnings Review

Aetna Inc (AET) dropped 3.9% or $3.31 to $81.52 after the health insurer said total revenue in the second-quarter ending in June surged 26% to $14.51 billion from a year ago period.

Net income in the quarter rose 2% to $548.8 million or $1.52 a diluted share compared to $536 million or $1.49 from a same quarter last year.

BP Plc (BP) slumped 2.9% or $1.49 to $49.15 after the oil and gas explorer stated total revenue in the second-quarter ending in June was nearly flat at $95.83 billion from $95.70 billion a year ago period.

Profit in the quarter climbed 61% to $3.43 billion or $1.09 a diluted share compared to $2.13 billion or 64 cents from a year ago period.

Ecolab Inc (ECL) fell 23 cents to $110.79 after the cleaning and sanitizing products maker reported net sales in the second-quarter ending in June jumped 7% to $3.57 billion from a year ago period.

Net income in the quarter surged 46% to $311.4 million or $1.02 a diluted share compared to $213.1 million or 69 cents from a year earlier.

Level 3 Communications, Inc (LVLT) soared 4.2% or $1.91 to $46.82 after the communications service provider said total revenues in the second-quarter ending in June increased 3.8% to $1.63 billion from a year ago period.

Net in the quarter swung to profit $51 million or 21 cents a diluted share compared to a loss of $24 million or 11 cents from a same quarter last year.

Merck & Co., Inc (MRK) gained 1.3% or 77 cents to $58.74 after the health care company reported sales in the second-quarter ending in June fell 1% to $10.93 billion from a year ago period.

Net income in the quarter soared 120.7% to $2 billion or 68 cents a diluted share compared to $906 million or 30 cents from a year earlier.

Pfizer Inc (PFE) slipped 11 cents to $29.99 after the biopharmaceutical company said total revenue in the second-quarter ending in June dropped 2% to $12.77 billion from a year ago.

Net income in the quarter plunged 79% to $2.91 billion or 45 cents a diluted share compared to $14.10 billion or $1.98 from a year ago period.

United Parcel Service, Inc (UPS) declined 3.4% or $3.50 to $99.16 after the package delivery company reported total revenue in the second-quarter ending in June climbed 5.6% to $14.27 billion from a year ago period.

Net income in the quarter tumbled 57.6% to $454 million or 49 cents a diluted share compared to $1.07 billion or $1.13 from a same quarter last year.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc