BOSTON ( TheStreet) -- Here are the top stock market headlines for the morning of Thursday, July 15, 2010.
Thursday's Earnings Roundup
- JPMorgan Chase (JPM) posted a second-quarter profit of $1.09 a share, well ahead of the consensus for earnings of 70 cents a share. Results included a 36-cent-a-share benefit from the reduction in loan loss reserves. Revenue on a managed basis was $25.6 billion, down from $27.7 billion in the year-ago quarter and $28.2 billion in the first quarter of 2010.
- Google (GOOG) will report quarterly results after the close of trading Thursday, with analysts looking for a profit of $6.52 a share on revenue of $4.99 billion, according to a poll by Thomson Reuters.
- Novartis (NVS) said it had second-quarter earnings of $2.44 billion, compared with earnings of $2.04 billion a year earlier. Revenue was up 11% from a year ago to $11.72 billion. Novartis also raised its sales guidance for the full year.
- Marriott (MAR) said late Wednesday it had a second-quarter profit of 31 cents a share on revenue of $2.77 billion, compared to the Thomson Reuters average estimate for earnings of 28 cents a share on revenue of $2.75 billion. Looking ahead, Marriott lifted its full-year earnings guidance range to $1.05 to $1.13 a share from the previous range of 95 cents to $1.05 a share.
- Advanced Micro Devices (AMD) is on tap to report financial results for the recent quarter after Thursday's closing bell. Analysts expect the chipmaker will notch a profit of 6 cents a share, compared with a year-ago loss of 62 cents a share, on revenue of $1.55 billion.