Merck, Vale: Earnings Central

Merck beats estimates, while Vale quadruples profit and announces bid for Brazilian copper major. They join Motorola, Northrop Grumann, Southwest Airlines, Visa, Symantec, Boeing, Arcelor Mittal, Comcase, Conoco Phillips, Sprint Nextel... and other major companies that have reported earnings this week.
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NEW YORK (

TheStreet

) --

Merck (MRK) - Get Report, Vale (VALE) - Get Report and First Solar (FSLR) - Get Report are three of today's most notable earnings in this, TheStreet's rundown of the week's quarterly reports.

FRIDAY'S EARNINGS

Merck (MRK) - Get ReportGuides In Line With Estimates

Revenue:

Total sales for the quarter were $11.346 billion, up 92%, on strong performance of pharmaceutical products, consumer care and animal health.P/>

Earnings:

Second-quarter earnings came in at $752.4 million, or 24 cents a share, vs. $1.56 billion, or 74 cents a, share the previous year. Adjusted for items, earnings per share was at 86 cents, beating estimates by 3 cents.

Outlook:

Merck provided full-year earnings guidance in the range of $3.29 to $3.39 a share, excluding certain items.

Share Performance:

The stock was down 2.4% in early morning today Friday, at $34.23. See latest

Merck stock action

here.

THURSDAY'S EARNINGS

Vale (VALE) - Get Report Profit Quadruples

Revenue:

Iron-ore production rose 32%, helping to almost double revenue to $9.9 billion.P/>

Earnings:

Net income gained to $3.7 billion or 70 cents a share from $790 million or 15 cents a year earlier. The earnings was in-line with consensus.

Outlook:

Vale expects demand from China to be up 10% this year. Separately, it announced a bid for Brazilian copper producer Paranapanema.

Share Performance:

The stock closed Thursday at $27.56, and is relatively unchanged in Friday morning trading, up 0.25%, to $27.68. See latest

Vale stock action

here.

First Solar (FSLR) - Get Report Easily Beats

Revenue:

Quarterly net sales were up 12% to $587.9 million from $525.9 million on increased production volume and system revenue.P/>

Earnings:

Net income declined to $159.04 million or $1.84 a share from $180.57 million or $2.11 a year earlier. Analysts were expecting $1.61.

Outlook:

First Solar upped its full year earning guidance from a range of $6.80 to $7.30, to a range of $7 to $7.40. It took its revenue guidance down a notch to $2.6 billion .

Share Performance:

The stock closed Thursday at $135.50. See latest

First Solar stock action

here.

Metlife (MET) - Get Report Beats Estimates

Revenue:

Premiums, fee and other revenue increased 4% to $8.68 billion.P/>

Earnings:

Metlife swung to profit in second quarter, delivering a net income of $1.53 billion or $1.84 a share from a loss of $1.43 billion or $1.74 a share. Excluding items, net profit was $ 1 billion or $1.23 a share. Analysts were expecting $1.02.

Outlook:

The company did not provide an outlook.

Share Performance:

The stock closed at $40.20 on Thursday. See latest

Metlife stock action

here.

Amgen (AMGN) - Get ReportLowers Revenue Guidance

Revenue:

Revenue rose 2% to $3.80 billion from $3.71 billion a year earlier.P/>

Earnings:

Net income fell to $1.20 billion or $1.25 a share from $1.26 billion or $1.25 a share. Adjusted for items, earnings per share came in at $1.38. Analysts were expecting $1.30 a share.

Outlook:

As a result of the weaker Euro, the Company now expects revenues to be slightly below $15.1 billion versus previous guidance towards the lower end of the range of $15.1 billion to $15.5 billion. Adjusted EPS guidance remains unchanged at towards the lower end of the range of $5.05 to $5.25.

Share Performance:

The stock closed at $53.37 on Thursday. See latest

Metlife stock action

here.

Exxon Mobil (XOM) - Get Report Beats on Profit, Misses On Revenue

Revenue:

Higher crude oil and natural gas realizations drove revenue up 24% to $92.47 billion from $74.45 billion a year earlier. Revenue missed estimates by $6 billion.

Earnings:

Profit rose 85% to $7.56 billion or $1.61 a share from $3.9 billion or 82 cents a share a year earlier. Analysts were expecting $1.47 a share on $98.49 billion.

Outlook:

No outlook was provided.

Share Performance:

The stock is up 0.9% on Thursday morning trading. See recent

Exxon Mobil stock action

here.

Kellogg (K) - Get Report Cuts Full-Year Guidance

Revenue:

Hurt by the impact of a cereal recall, sales fell 5% to $3.06 billion from $3.23 billion a year ago.

Earnings:

Profit declined 15% to $ 302 million or 79 cents a share, with the estimated impact of the recall on earnings at 10 cents. Analysts were expecting 94 cents.

Outlook:

Kellogg cut its 2010 earnings guidance to the range of 8 % to 10% versus 11% to 13% previously.

Share Performance:

The stock is down 4% to $49.47 on Thursday morning. See recent

Kellogg stock action

here.

Motorola (MOT) Tops Estimates

Revenue:

Sales were $5.41 billion, slightly lower than $5.49 billion the previous year, as networks segment sales fell 2% and enterprise mobility solutions segment sales rose 10%.

Earnings:

Profits jumped to $162 million or 7 cents a share from $ 26 million or a penny a share a year ago. Excluding items, EPS was at 9 cents a share versus consensus estimates of 8 cents a share.

Outlook:

Motorola expects third quarter EPS to range between 10 cents and 12 cents a share.

Share Performance:

The stock is up 3.1% at $7.93 on Thursday morning. See recent

Motorola stock action

here.

Northrop Grumman (NOC) - Get Report Profit Doubles

Revenue:

Sales rose 2.5% to $8.82 billion from $8.5 billion a year earlier.

Earnings:

Profit jumped to $711 million or $2.34 a share from $368 million or $1.13 a year earlier.

Outlook:

The company raised its 2010 EPS guidance to $6.60 to $ 6.80 a share on strong performance in the first half.

Share Performance:

The stock is up 0.9% at $58.90. See recent

Northrop Grumman stock action

here.

Southwest Airlines (LUV) - Get Report Beats Estimates

Revenue:

In line with estimates, revenue rose 21% to $3.2 billion.

Earnings:

Net income was slightly higher at $112 million or 15 cents a share, up from $91 million or 12 cents. Excluding items, profit per share was 29 cents, beating estimates by 2 cents.

Outlook:

The company expects strong momentum to continue in the second half.

Share Performance:

The stock is up 1.1% at $12.15. See recent

Southwest Airlines stock action

here.

WEDNESDAY'S EARNINGS

Visa (V) - Get Report Beats Street View

Revenue:

June-quarter revenue rose 23% to $2 billion, driven by data processing and international transaction revenues.

Earnings:

Net income declined to $716 million or 97 cents a share from $ 729 million or 97 cents(adjusted EPS of 67 cents) a year ago. Analysts were expecting 93 cents a share on $1.97 billion revenue.

Outlook:

Visa expects 2010 revenue growth at the high end of the 11% to 15% range and margins to be in the mid-to-high 50s range and annual common stock earnings growth of greater than 20%.

Share Performance:

The stock is down 0.1% at $75.11 in aftermarket trading. See recent

Visa stock action

here.

Symantec (SYMC) - Get Report Misses Sales Estimates

Revenue:

Revenue in the first quarter of 2011 was flat at $1.43 billion, below estimates of $1.47 billion.

Earnings:

Net income more than doubled to $161 million from $74 million a year ago. Adjusted for items, earnings grew 3% to 35 cents a share, in-line with estimates.

Outlook:

Revenue for the second quarter is expected to range between $1.44 billion and $1.46 billion, GAAP earnings per share is to range between 9 and 10 cents and non-GAAP earnings between 27 and 28 cents a share.

Share Performance:

The stock is down 7.71% at $13.50 in aftermarket trading. See recent

Symantec stock action

here.

Arcelor Mittal (MT) - Get Report Issues Cautious Outlook

Revenue:

Second-quarter revenue rose 43% to $21.7 billion.

Earnings:

Profits came in at $1.7 billion or $1.13 a share compared to a loss of $792 million or 57 cents a share. Analysts were expecting 70 cents a share.

Outlook:

Capacity utilization in the third quarter expected to decline to 70% due to seasonal slowdown. Management is contemplating spinning off the stainless steel segment to its shareholders.

Share Performance:

The stock is down 1.6% at $31.49. See recent

Arcelor Mittal stock action

here.

Boeing (BA) - Get Report Beats on Profit, Light on Revenue

Revenue:

Fewer commercial airplane deliveries led 8% decline in second quarter revenue to $15.6 billion.

Earnings:

Profits declined 21% to $787 million or $1.06 a share from $998 million or $1.01 a year earlier. Analysts were expecting EPS of $1.01 on revenues of $16.1 billion.

Outlook:

The company reaffirmed its 2010 financial guidance, with revenue projected to be $64 million to $66 million, delivery of 460 to 465 aircraft and earnings between $3.50 to $3.80 a share. This is below estimates of $3.87, with a range of $3.60 to $4.15

Share Performance:

The stock is down 1.5% at $67.58. See recent

Boeing stock action

here.

Comcast (CMCSA) - Get Report Hit by NBC Universal Expenses

Revenue:

Higher customer additions drove revenues higher by 6.1% to $9.53 billion.

Earnings:

Profit declined 8.6% to $884 million or 31 cents a share from $967 million or 33 cents a share a year earlier. The quarter included a $59 million expense related to the NBC Universal acquisition. Analysts were expecting 32 cents a share.

Outlook:

Comcast hopes to complete the NBC Universal acquisition by the end of 2010.

Share Performance:

The stock is up 0.2% at $19.36. See recent

Comcast stock

action here.

Conoco Phillips (COP) - Get Report Beats Estimates, to Sell Lukoil

Revenue:

Conoco generated $3.5 billion in cash from operations and $5.8 billion in cash proceeds from asset sales.

Earnings:

Rising oil prices and higher refining margins helped more than double profits to $4.16 billion or $2.77 a share. Excluding items, earnings came in at $1.67 a share, beating expectations of $1.56 a share.

Outlook:

The company is planning to sell its entire stake in Lukoil

Share Performance:

The stock is up 0.1% at $54.49. See recent

Conoco Phillips stock action

here.

Sprint Nextel (S) - Get ReportPosts Smaller-than-Expected Loss

Revenue:

Consolidated revenue was marginally lower at $8.03 billion.

Earnings:

Sprint had a loss of $760 million, or 25 cents a share versus a year-earlier loss of $384 million, or 13 cents. Adjusted earnings came in at 15 cents a share. Analysts were expecting a loss of 20 cents.

Outlook:

No outlook was provided

Share Performance:

The stock is up 1.5% at $4.90. See recent

Sprint Nextel stock action

here.

TUESDAY'S EARNINGS

Aflac (AFL) - Get Report Profit Jumps

Revenue:

Stronger yen, lower investment losses led revenue to grow 15.5% to $5 billion compared to $4.3 billion in 2009.

Earnings:

Earnings jumped 85% to $ 581 million or $1.23 a share. Adjusted for items, earnings on an operating basis came in at $1.35 a share, 12% higher than a year ago. Analysts were expecting $1.33 a share.

Outlook:

Assuming the yen to trade at 90 to the dollar, Aflac expects to report earnings of $5.44 per diluted share. Earnings on an operating basis is expected to be $1.35 to $1.38 a share.

Share Performance:

The stock is flat in extended trading. See recent

Aflac stock action

here.

Nabors Industries (NBR) - Get Report Beats Estimates

Revenue:

Revenue came in at $915 million, beating street estimates of $875 million.

Earnings:

Profits declined 40% to $19 million from $32 million a year ago, due to suspended operations in the Gulf of Mexico.

Outlook:

Nabors was cautious in its outlook for the remainder of 2010, expecting land-based rig activity to slow, the Gulf of Mexico to drive a $25 million income drop, and the potential for a third quarter loss.

Share Performance:

The stock was down 0.3% in extended trading at $18.3. See recent

Nabors stock action

here.

BP (BP) - Get Report Takes $32 billion Charge on Gulf-oil Spill

Revenue:

Revenue for the quarter was up 34% at $75.8 billion.

Earnings:

One time charges of $32 billion led to a loss of $17 billion in the June quarter or a loss of $5.42 a share. Adjusted for items, underlying replacement cost profit rose to $5 billion from $2.9 billion in the year-ago quarter.

Outlook:

The company is to sell an $30 billion worth of assets and reduce its debt obligations to $10 to $15 billion from $23 billion in the next 18 months.

Share Performance

The stock is down 2.4% at $37.70. See recent

BP stock action

here.

U.S. Steel (X) - Get Report Posts Loss, Issues Weak Outlook

Revenue:

Revenue more than doubled to $4.68 billion from $2.13 billion in year-ago quarter.

Earnings:

A weak euro hurt earnings by 62 cents a share, resulting in a loss of $25 million or 17 cents a share. But even adjusting for the weaker euro, profits of 45 cents a share came in well below estimates of 63 cents a share.

Outlook:

U.S. Steel said it would report a third-quarter profit, but that it will be lower than that of the second quarter.

Share Performance:

The stock is down 6.8% at $45.60. See recent

U.S. Steel stock action

here.

AK Steel (AKS) - Get Report Beats Estimate

Revenue:

A surge in shipments led revenue to more than double to $1.6 billion from a year ago.

Earnings:

AK Steel swung to profit in the second quarter from a year ago, earning $26.7 million or 24 cents a share, easily beating estimates of 7 cents a share. Excluding a "true-up" expense to account for higher-than-expected rise in iron-ore prices, the company would have earned 34 cents a share.

Outlook:

AK Steel said it expects third-quarter shipments to rise by 3% sequentially, but prices to decline by about 5%. Assuming a 65% increase in the iron ore benchmark price, AK Steel expects to generate an operating profit of approximately $15 per ton for the third quarter.

Share Performance:

The stock is down 5.5% at $14.35. See recent

AK Steel stock action

here.

Office Depot (ODP) - Get Report Narrows Loss

Revenue:

Soft demand both domestically and internationally led sales to decline 4.3% to $2.7 billion, while same-store sales slipped 1%.

Earnings:

Office Depot reported a loss of $18.7 million, or 7 cents a share, compared with a loss of $82.6 million, or 31 cents, in the year-ago period. Analysts were expecting a loss of 17 cents a share.

Outlook:

No outlook was provided.

Share performance:

The stock is down 4.2% at $4.53. See recent

Office Depot stock action

here.

Level 3 (LVLT) Misses on Revenue

Revenue:

Second-quarter revenue declined 4% to $908 million, missing estimates of $909 million.

Earnings:

Net loss for the second quarter was at $169 million or 10 cents a share, compared to $134 million or 8 cents a share in the year-ago quarter. The June 2009 quarter loss was after a $14 million gain on extinguishment of debt. Analysts were expecting a loss of 11 cents a share.

Outlook:

Level 3 expect core network services revenue to grow sequentially for the rest of 2010.

Share performance:

The stock is down 9.6% at $1.09. See recent

Level 3 stock action

here.

-- Reported by Shanthi Venkataraman in New York.

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