Afternoon BUZZERS: Whirlpool and UPS Signal Slowdown, Apple Flat Ahead of Earnings
Whirlpool (NYSE:WHR) shares were down 7.18 percent in early afternoon trading today. The company announced that net income for the second quarter increased to $113 million ($1.43 per share), compared to a net loss of $161 million a year earlier. However, revenue declined 4.6 percent to $4.51 billion. The results fell short of expectations on the top and bottom line.
Shares of Altria Group (NYSE:MO) are trading relatively flat after reporting financial results for the second quarter. Net income for the tobacco giant jumped to $1.23 billion (60 cents per share), compared to $444 million (21 cents per share) a year earlier. “Altria delivered excellent financial results for the second quarter and first six months of 2012, reflecting the strength of our diverse business model,” said Marty Barrington, chief executive officer.
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Apple (NASDAQ:AAPL) are trading slightly lower this afternoon. The world’s largest publicly traded company announces earnings after today’s closing bell. The average analyst estimate is for net income of $10.37 per share, a rise of 33.1 percent from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from $9.95.
United Parcel Service (NYSE:UPS) shares fell 5.57 percent in afternoon trading. The company said its second quarter profit increased to $1.12 billion ($1.15 per share), compared to $1.07 billion ($1.07 billion) a year earlier. Analysts were expecting earnings per share of $1.17.
Shares of DeVry (NYSE:DV) plunged 24.56 percent this afternoon. The for-profit educator warned Wall Street that fourth quarter earnings will be impacted by higher costs and lower enrollment. DeVry now expects to see enrollment decrease 15 percent to 17 percent in the quarter, while earnings 43 cents to 46 cents per share. In comparison, analyst had expected earnings of 78 cents per share. The company will also slash 570 jobs.
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