Johnson & Johnson posted earnings of $1.54 a share. Higher profits stemmed from strong sales growth in its prescription drugs segment, which soared 11% over the quarter.
The world's largest spirits maker Diageo has made a $1.9 billion play to take control of India's United Spirits, its second attempt to assume control of the company.
Google purchases drone company Titan Aerospace, the same company Facebook was recently said to be interested in acquiring. The move is part of Google's push to spread Internet access around the world, especially to underdeveloped regions. Although the two companies will still operate individually, Titan will team up with Google on its Maps service as well as Project Loon, which aims to spread Internet service by using giant, high-altitude balloons. Terms of the deal aren't disclosed.
Google has purchased drone company Titan Aerospace. The move is part of Google's push to spread Internet access around the world, especially to underdeveloped regions.
Shares of Coca-Cola are climbing on Tuesday after the company reports better-than-expected quarterly revenue on strong sales out of China. Case volumes in China rise 12% in the quarter, offsetting a drop in Europe and flat volumes in North America. Earningsare 44 cents a share, excluding items, in line with analysts' estimates, according to Thomson Reuters. Revenue fallsl 4% to $10.58 billion, narrowly beating analysts' estimates of revenue of $10.55 billion.
Coca-Cola's earnings came to 44 cents a share, excluding items, while revenue fell 4% to $10.58 billion, narrowly beating analyst estimates of revenue of $10.55 billion.
Johnson & Johnson reported first-quarter profit that rose 34% on demand for new drugs, while Coca-Cola reported better-than-expected quarterly revenue on strong sales out of China.
Amazon is reportedly preparing to launch a smartphone according to a report from The Wall Street Journal over the weekend. Speaking with sources familiar with the project, the news site said an announcement could come as early as June with device shipments around September, just in time for the critical holiday shopping season. A report from tech site Re/Code supports the claims, noting that Amazon will likely release both a high-end model and cheaper unit for emerging markets.
Amazon is reportedly preparing to launch a smartphone according to a report from The Wall Street Journal over the weekend.
Shares of Citigroup are climbing on Monday after the bank reports first-quarter quarter earnings and revenue that handily beat analysts' estimates. Excluding items, Citigroup reported adjusted earnings of $1.30 a share on revenue of about $20.1 billion -- beating analysts' estimates of earnings of $1.14 a share on revenue of about $19.3 billion, according to Thomson Reuters. A narrower loss on its portfolio of troubled assets, Citi Holdings, contributed to the better-than-expected results.