Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) decreased 2.86% to $39.70.The Company reported second quarter profit of $863 million or 99 cents per share compared to $576 million or 64 cents per share in the prior year period. Gross margin widened to 53.2% from 52.2%. Net U.S. revenue jumped 28% to $2.46 billion due to strong revenue from branded medicines as well as new sales from Cephalon.
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Titanium Metals Corp (NYSE:TIE) surged up 4.05% to $11.82. The stock has been downgraded by TheStreet Ratings from buy to hold.
Time Warner Cable Inc (NYSE:TWC) went up 1.94% to $87.26. The Company reported second quarter net income was $430 million or 44 cents per share compared to $638 million or 59 cents in the prior year period. However, analysts had predicted $6.96 billion on average. The decline in profit was due to declines in magazine sales and CNN’s ratings. Revenue from that business increased 4% to $3.6 billion in the quarter.
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Viacom Inc (NASDAQ:VIAB) decreased 1.04% to $45.75. The Board of Directors has declared a quarterly cash dividend of $0.275 per share on both its Class A and Class B common stock. The dividend will be payable on October 1, 2012 to stockholders.
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Valeant Pharmaceuticals Int (USA) (NYSE:VRX) is up 0.78% to $47.23 after the Company announced second quarter results. Net loss was $21.6 million or $0.07 per diluted share. GAAP cash flow from operations was $254.6 million in the second quarter of 2012. The Company's cost of goods sold was $197.3 million in the second quarter of 2012. Selling, General and Administrative expenses were $185.4 million in the second quarter of 2012.