CME Group (NASDAQ:CME), the world’s leading and most diverse derivatives marketplace reported a Q2 marked by falling volumes year-on-year: daily volume at 12.4 million contracts fell by 9 percent and fees from clearing and trade transactions is down 6 percent, though both are up in single digit percentages sequentially. The culprit is the current zero-interest rate regime which has led to reduced interest in the bread-and-butter Eurodollar contract.
Kimberly-Clark (NYSE:KMB) reports a good second quarter as net earnings vault almost 25 percent to $498 million compared to $408 million; expecting better sales growth, lower input costs and cost savings, the company betters its FY guidance to $5.05-$5.20 from previous guidance of $5.00-$5.15, against a consensus of $5.15 and $4.80 in 2011. Plans to repurchase shares worth $1.3 billion against a previous target of $900 million to $1.1 billion.
Waste Management (NYSE:WM), provider of waste disposal and recycling solutions that create clean, renewable energy, is proposing to cut 700 jobs to control costs and may incur charges from $50 million to $60 million thereon; its Q2 results delivered a miss on both earnings and revenue.
Oil and natural gas company Linn Energy’s (NASDAQ:LINE) net earnings in Q2 were marginally down to $237 million even though production leaped 76 percent to 630 million cft per day. Outlook for full year earnings is clouded by weak NGL prices though recent acquisitions and a focus on oil drilling may redeem the situation somewhat – adjusted EBITDA expected at $1.35 billion with a distribution coverage ratio of about 1.1 times for the second half of the year.
Sprint Nextel (NYSE:S) reports a larger loss of $1.37 billion in Q2 vs. $863 million last year, even though average revenue for a contract customer improved by $4.31 to $63.38 per month; the fadeout of the Nextel network results in a loss of 246,000 customers, while it sells about 1.5 million iPhones.