After a relatively quiet Monday with earnings reports (fewer than 35 large-cap companies reported their earnings before and/or after the market yesterday), Tuesday is a very busy day on the Street. Twenty-nine large companies ($1 billion or more in market cap) were scheduled to report their earnings Tuesday morning, and and has become our daily constitutional here, let us highlight some of these earnings reports. We’ve distilled this list down to the companies with $15 billion or more of market cap, of which 13 of them reported this morning.
BP (NYSE:BP) saw its shares drop pre-market by more than 4 percent to $40 after missing estimates on its earnings report. BP reported a loss of $1.38 billion while reporting that production of 2.275 million barrels of oil per day was was about 175,000 barrels off the same period in 2011.
Pfizer (NYSE:PFE) posted a strong earnings report Tuesday, posting an EPS of 52 cents and revenue of $15.1 billion, which shattered estimates by 8 cents and $200 million, respectively. The stock was up nearly 1 percent pre-market to nearly $24.
UBS (NYSE:UBS) is taking a pre-market hit as well, down nearly 4 percent to $10.65 after reporting that net profit was down 58 percent from a year ago and earnings were slashed 49 percent. The forecast wasn’t much better for investors.
Deutsche Bank (NYSE:DB) is up more than 3 percent pre-market to $31.25 despite reporting that its net income for the quarter was down 4 percent from the same period in 2011 and earnings per share dropped by the same rate. Net revenue was down 6 percent over a year earlier.
Tyco (NYSE:TYC) may be looking favorable at the open after its quarterly report revealed an EPS of $1.01 that eat estimates by 8 cents, with a revenue number of $4.5 billion being in-line with estimates. Revenue was up nearly 4 percent over the same period a year ago.
Thomson Reuters (NYSE:TRI) should get a decent morning bounce after its reported quarterly EPS of 54 cents and revenue of $3.31 billion in the quarter, which beat estimates by 3 cents and $100 million, respectively. Revenue was up 1 percent over the same period a year ago.
Ecolab (NYSE:ECL) reported its EPS of 72 cents, which was consistent with estimates. The revenue number of $2.96 billion, however, missed targets by $60 million – though it was 74 percent higher than the same period a year ago.
HCP (NYSE:HCP) is another company that may see a stock bounce after its report listed an EPS of 69 cents and revenue of $464 million, which beat estimates by 1 cent and $3 million, respectively. Revenue was down 5 percent from the prior year’s period, however.
Archer Daniels Midland (NYSE:ADM) was taking a per-market beating of nearly 5 percent to $26.15 after its quarterly EPS came in at 38 cents, which was a whopping 23 cents shorts of estimates. Revenue for the quarter, however, was $850 million more than estimated, at $22.6 billion.
Cummins (NYSE:CMI) was seeing a pre-market boost of about 4 percent to $94 after its earnings report showed EPS of $2.47, beating estimates by 20 cents, while reporting revenue of $4.45 billion, though that was 4 percent lower than in 2011.
Coach (NYSE:COH) stock dropped nearly 17 percent pre-market to $50.40 after reporting EPS of 86 cents and revenue of $1.16 billion. What sent the stock down was the pessimistic guidance, and the report that showed that store sales growth rose by 1.7 percent, which was far below estimates of 6 percent growth.
Public Service Enterprise Group (NYSE:PEG) was down slightly pre-market to just under $34 after reporting its quarterly EPS of 43 cents missed estimates by 2 cents.
Marathon Petroleum (NYSE:MPC) is up slightly pre-market to $47.60 and could bounce nicely after its report blew away estimates. The company reported EPS of $2.53 and revenue of $20.5 billion, which beat estimates by 7 cents and $1.9 billion, respectively.