AT&T, UPS: Thursday's Headlines

BOSTON (TheStreet) -- Here are the top stock market headlines for the morning of Thursday, July 22, 2010.

Thursday's Earnings Roundup

• UPS (UPS) said it had second-quarter earnings of 84 cents a share on revenue of $12.2 billion, above the consensus target for a profit of 77 cents a share on revenue of $12 billion. UPS also raised its full-year guidance to a range of $3.35 to $3.45 a share from the prior range of $3.05 to $3.30 a share. The Thomson Reuters average estimate for full-year earnings is $3.27 a share.
• Caterpillar (CAT) reported a second-quarter profit of $1.09 a share on revenue of $10.4 billion, above the Thomson Reuters average estimate for earnings of 85 cents a share on revenue of $9.8 billion. Looking ahead, Caterpillar raised its full-year guidance range to $3.15 to $3.85 a share, up from the prior range of $2.50 to $3.25 a share. Analysts expect a full-year profit of $3.29 a share.
• AT&T (T) posted second-quarter earnings of 61 cents a share, which excludes a one-time gain, on revenue of $30.9 billion including revenue from Sterling Commerce, which the company divested in May. Analysts forecasted profit of 57 cents a share on revenue of $30.9 billion, according to Thomson Reuters. AT&T revised its full-year outlook, saying it now expects strong earnings per share growth, improved consolidated operating income margins and free cash flow above 2008 levels.
• 3M (MMM) notched a second-quarter profit of $1.54 a share on revenue of $6.73 billion, above the Thomson Reuters consensus estimate for earnings of $1.48 a share on revenue of $6.66 billion. 3M offered better-than-expected full-year earnings guidance of $5.65 to $5.80 a share, above the consensus target of $5.63 a share.
• Nokia (NOK) said second-quarter operating profit fell to €295 million ($379.6 million) from €427 million last year as net sales rose 1% but were down 5% sequentially. Nokia said second-quarter its total mobile device volumes were 111.1 million units, up 8% year on year and 3% sequentially.
• Travelers (TRV) reported second-quarter earnings of $1.39 a share, below Wall Street's target of $1.50. For the full-year, Travelers cut the top end of its previous guidance to 10 cents. The full-year earnings guidance range is now $5.20 to $5.45 a share, below the Thomson Reuters average estimate of $5.74 a share.
• Medco Health (MHS) posted second-quarter earnings of 83 cents a share on revenue of $16.4 billion, topping the Thomson Reuters average estimate for earnings of 79 cents a share on revenue of $16.2 billion. Medco Health offered a full-year guidance range of $3.34 to $3.39 a share, which is in line with analysts' estimates.
• Philip Morris (PM) notched a second-quarter adjusted profit of $1 a share on revenue of $7.06 billion, which came in better than the Thomson Reuters consensus estimate for earnings of 97 cents a share on revenue of $6.83 billion. Philip Morris also raised its full-year earnings guidance to a range of $3.75 to $3.85 a share from the prior range of $3.70 to $3.80 a share. Analysts are expecting full-year earnings of $3.77 a share.
• Eli Lilly (LLY) reported a second-quarter adjusted profit of $1.24 a share on revenue of $5.75 billion, beating the Thomson Reuters average estimate for earnings of $1.10 a share on revenue of $5.58 billion. Eli Lilly said it expects full-year earnings of $4.50 to $4.65 a share, ahead of the consensus target of $4.49 a share.