Stocks to Watch: Yahoo!, Coke, Goldman Sachs (Update 1)
NEW YORK -- Yahoo! (YHOO) ended its leadership search, naming Marissa Mayer, a former executive with Google (GOOG), as CEO.
Mayer, 37, has never had any experience running a company, and she is taking over a struggling Internet company that is undergoing a transformation.
Shares of Yahoo! rose 1.5% in premarket trading Tuesday to $15.88.
Marissa Mayer Is a Bad Choice for Yahoo!
Coca-Cola (KO), the beverage giant, reported second-quarter net income of $2.79 billion, or $1.21 a share, compared with year-earlier earnings of $2.81 billion, or $1.20 a share. The soft drink company was expected by analysts Tuesday to post second-quarter profit of $1.19 a share on revenue of $12.98 billion. Global volume in the quarter grew 4%. ed up 52 cents, or 0.68%, to $77.00 in premarket trading Tuesday.
Johnson & Johnson (JNJ) reported second-quarter earnings of $1.41 billion, or 50 cents a share, down from year-earlier earnings of $2.78 billion, or $1 a share. The consumer goods company was anticipated by analysts Tuesday to post second-quarter earnings of $1.29 a share on revenue of $16.7 billion. Sales of $16.5 billion in the second quarter fell 0.7% from the previous year. International sales decreased 0.4%; domestic sales fell 1.2%. Shares of Johnson & Johnson fell 1.31% in premarket trading Tuesday to $67.55. What's New In Microsoft's Office 2013
Goldman Sachs (GS) reported second-quarter net earnings of $927 million, or $1.78 a share, down from year-earlier earnings of $1.05 billion, or $1.85 a share. The bank was expected by analysts to post second-quarter earnings of $1.13 a share on revenue of $6.28 billion. The stock has risen 4% so far in 2012. The Wall Street Journal reported Tuesday that Goldman is building an in-house bank to lend money to wealthy people and companies. The move is is a part of Goldman's cautious strategy to reshape its business, the newspaper noted. Shares of Goldman Sachs rose 1.79% in premarket trading Tuesday to $99.43.
Intel (INTC), the chip giant, reports after Tuesday's closing bell and is expected by analysts to post quarterly earnings of 52 cents a share on revenue of $13.56 billion. Intel shares ticked up 7 cents, or 0.28%, in premarket trading Tuesday to $25.20. Music IPOs Lose Beat
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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