American Electric
Power Company, Inc.(NYSE:AEP) added 0.19% to $42.08. The company is
estimated to report its Q2 earnings at $0.71 per share on revenue of $3.57
billion. At current market price, the market capitalization of the stock stands
at $20.38 billion.
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Autoliv
Inc.(ADR)(NYSE:ALV) slid $0.38 or 0.67% to $56.26. The company is projected
to report its Q2 EPS at $1.40 on revenue of $2.11 billion. Over the past three
months of trading sessions, the stock fell more than 14%.
Baker Hughes
Incorporated(NYSE:BHI) is trading 8.72% higher at $45.39 on unusual volumes.
The company posted a better-than-expected profit on increased drilling activity
in its international markets even as it grapples with rising costs. Net income
rose to $439 million, or $1 per share, from $338 million, or 77 cents per
share, a year ago.
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Analysis
Analysts on average were expecting a profit of 77 cents a
share on revenue of $5.26 billion, according to Thomson Reuters I/B/E/S.
Revenue rose 12 percent to $5.32 billion.
First Horizon
National Corporation(NYSE:FHN) lost 3.51% at $8.25 on more than 12.82
million shares. The company posted a wider-than-expected second-quarter loss as
it incurred a pre-tax charge related to mortgage buyback demand from government
sponsored entities Fannie Mae and Freddie Mac.
The company reported a loss after five straight quarters of
profit. Net loss for the second quarter was $124.8 million, or 50 cents per
share, compared with net income of $42.6 million, or 16 cents per share a year
earlier.
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Analysts on average expected it to incur a loss of 49 cents
per share, according to Thomson Reuters I/B/E/S.
General Electric
Company(NYSE:GE) added $0.20 or 1.01% to $20. The company posted profit of
38 cents per share, excluding one-time items, a penny above analysts' average
estimate, according to Thomson Reuters I/B/E/S. It excludes 5 cents in charges
from its former U.S. subprime mortgage unit and Japanese consumer finance
business.
The company also said it will split up its $50 billion
Energy Infrastructure unit, created in a 2008 restructuring, into three
separate divisions, reporting directly to Immelt. The restructuring, once
complete, will cut annual expenses by $200 million to $300 million a year,
executives said.
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