Cummins Second-Quarter Profit Falls 7.1% on Lower Gains, Sales
Cummins Inc.'s (CMI) second-quarter earnings fell 7.1% as the engine maker's revenue was hurt by currency fluctuations, though growth in North America offset weakness in international markets--especially China and Brazil.
Archer Daniels Net Falls 25%
Archer Daniels Midland Co.'s (ADM) fiscal fourth-quarter earnings fell 25% as the company saw operating profit declines at its agricultural services, oilseeds processing and corn processing segments.
PSEG 2Q Profit Down 35% on Lower Energy Prices
Public Service Enterprise Group Inc.'s (PEG) second-quarter earnings sank 35% as the electric and gas utility company's results were hurt by warmer-than-typical weather and falling energy prices.
ICSC/Goldman Sachs Chain Store Sales Down 1.7% from Prior Week
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 1.7% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, as customer traffic slowed across all retail segments.
Thomson Reuters 2Q Net Up 64% on Strong Tax, Accounting Unit Revenue
Thomson Reuters Corp.'s (TRI, TRI.T) second-quarter profit surged 64% on lower operating expenses and double-digit revenue growth at its tax and accounting division.
Marathon Petroleum 2nd-Quarter Net Up 1.5% On Speedway, Refining Growth
Marathon Petroleum Corp.'s (MPC) second-quarter profit edged up 1.5% as the refining and pipeline company posted slightly lower revenue but booked profit gains in its Speedway and refining and marketing segments.
Pfizer Profit Rises 25%; Lipitor Sales Slide
Pfizer Inc.'s (PFE) second-quarter earnings rose 25% on lower expenses as the pharmaceutical giant continued to see sales of former anti-cholesterol blockbuster Lipitor slide amid competition from generic versions.
Entergy 2nd-Quarter Profit Rose 16% Amid Lower Costs, Tax Credit
Entergy Corp. (ETR) second-quarter earnings rose 16% as the power company benefited from lower operating expenses as well as a tax benefit.
Indian Companies Eye Stake in Russia's Yamal LNG Project
A consortium of Indian companies comprising Oil & Natural Gas Corp. (500312.BY), Indian Oil Corp. (530965.BY) and Petronet LNG Ltd. (532522.BY) is looking at buying about a 15% stake in Russian natural-gas producer OAO Novatek's (NVTK.RS) Yamal LNG Project, Petronet's managing director said Tuesday.
EU Regulator Charges Visa on Credit-Card Fee
EU antitrust regulators charged Visa Europe over its cross-border credit card fees on Tuesday, saying they harm competition between banks and lead to higher consumer prices.