Among the companies whose shares are expected to actively trade in Wednesday's session are Yahoo Inc. (YHOO), Apple Inc. (AAPL) and Apache Corp. (APA). Yahoo's second-quarter earnings jumped 51%, beating analysts' estimates on improved display advertising and margins, but the Internet heavyweight's search ads declined. Yahoo reported owned and operating search advertising revenue slid 8%, though that was offset by a 19% increase in display advertising sales. Shares were down 6.6% at $14.20 in premarket trading. Apple's fiscal third-quarter profit jumped 78% as the company posted stout initial sales of its multimedia iPad device and the latest version of its popular smartphone, the iPhone 4, as well as higher Macintosh computer sales. A main driver of growth for the quarter was the company's popular iPhone, which sold 8.4 million units, up 61%. Apple also reported it sold 3.27 million iPads, which became available in early April. Shares rose 4.2% to $262.50 in premarket trading, as results easily topped expectations. Apache said it will pay a total of $7 billion for all of BP PLC's (BP, BP.LN) assets in the Permian Basin in New Mexico and Texas as well as assets that the U.K. energy giant holds in Alberta and British Columbia, Canada. The total estimated capacity of the deal is about 83,000 barrels of oil equivalent per day, while Apache's typical production was 646,866. Apache also posted a strong second quarter, topping expectations, and announced a stock offering to help with the purchase. Shares of Apache fell 1.7% to $86.75 in premarket trading while BP gained 3.9% to $36.57. Textron Inc. (TXT) swung to a sharply higher second-quarter profit than analysts expected as sales increased from a prior period stung by restructuring charges. The maker of Cessna planes and Bell helicopters also boosted its 2010 profit target and raised its finance-receivables liquidation goal. Shares rose 9.5% in premarket trading to $19.80. Comerica Inc.'s (CMA) second-quarter profit soared, beating analysts' estimates, as its loan-loss provisions fell sharply. However, revenue missed expectations like other banks. Shares rose 3.2% to $38 in premarket trading. Morgan Stanley's (MS) second-quarter profit soared as the bank rebounded from a year-earlier quarter marred by merger charges and the repayment of government funds. Shares rose 3.7% to $26.15 premarket as earnings solidly beat analysts' expectations. Boston Scientific Corp.'s (BSX) second-quarter profit slid 38% as the medical-device maker posted double-digit sales declines for defibrillators and stents, as well as lower margins. Still, shares rose 2.4% to $6.42 in premarket trading, as the company lifted its full-year earnings target. Gilead Sciences Inc.'s (GILD) second-quarter profit jumped 25% as sales and margins increased, but results fell short of analysts' estimates and shares of the drug maker slid 3% to $32 premarket. Seagate Technology Inc. (STX) swung to a fiscal fourth-quarter profit--and its operating results were the highest in the company's history--but demand for hard-disk drives declined because of the debt crisis in Europe and slower consumer spending there and in the U.S. Shares dropped 3.3% to $14.05 premarket as the computer disk-drive maker's results fell short of Wall Street's expectations. Juniper Networks Inc.'s (JNPR) second-quarter profit soared as revenue and margins improved. The network-equipment maker's results topped analysts' expectations but shares slipped 2.6% to $26 premarket. VMware Inc.'s (VMW) second-quarter profit more than doubled, beating analysts' estimates, as sales and margins rose sharply. The company lifted its full-year revenue forecast again and projected third-quarter revenue above analysts' estimate. Shares gained 4.9% to $75.95 premarket. United Rentals Inc. (URI) swung to a second-quarter profit on higher margins as demand increased for the company's smaller fleet. Shares shot up 11.2% to $11.75 in premarket trading as the equipment-rental company's results were better than Wall Street had expected. Coca-Cola Co.'s (KO) second-quarter earnings rose 16% as the beverage giant reported volume gains, including in long-struggling North America, and continued strong growth in international markets. The results beat analysts' expectations and shares were up 1.4% to $54 in premarket trading. Genco Shipping & Trading Ltd. (GNK) announced plans to sell at least 2.8 million shares and $100 million of five-year convertible notes to help fund its planned acquisition of 18 ships. Shares fell 5.5% to $16.75 in premarket trading. Watch List: Drug and medical-device maker Abbott Laboratories' (ABT) second-quarter earnings were flat as acquisition costs offset double-digit sales growth. Airgas Inc.'s (ARG) fiscal first-quarter profit rose 18% on increased sales as the specialty-gas provider reported the highest profit in its history. As results topped expectations, Airgas raised earnings guidance for the year. AirTran Holdings Inc.'s (AAI) second-quarter profit plunged 84% as fuel costs climbed and the company recorded derivative losses compared with last year's gains. Allscripts-Misys Healthcare Solutions Inc.'s (MDRX) fiscal fourth-quarter profit grew 17% as the company saw strength in its system sales. The results topped Wall Street expectations, though the prescription-management software company offered 2011 guidance that fell merely in line with analysts' expectations. Altera Corp.'s (ALTR) second-quarter profit nearly quadrupled on strong sales of new products and large sales increases in every region. The logic-chip maker's results topped expectations, and the company projected third-quarter revenue to grow 4% to 8% above the latest period, which exceeded analysts' estimate. Altria Group Inc.'s (MO) second-quarter earnings rose 2% as cigarette volume again declined for the maker of Marlboro, Parliament and other brands, but demand for smokeless tobacco continued to rise. Aptargroup Inc.'s (ATR) second-quarter profit climbed 64% on double-digit sales increases in its two largest businesses, higher volumes and the effects of cost-cutting. The product-dispenser maker's results topped expectations and its per-share earnings set a record. ArvinMeritor Inc. (ARM) said it plans to add 125 jobs by 2014 as it spends $23 million in the next five years to expand the technical center at its headquarters in Troy, Mich. BlackRock Inc.'s (BLK) second-quarter profit doubled on the impact from December's $13.5 billion acquisition of indexing giant Barclays Global Investors as results topped analysts' expectations. Check Point Software Technologies Ltd.'s (CHKP) second-quarter profit jumped 36% as costs barely rose and demand improved for its products and services. Cintas Corp.'s (CTAS) fiscal fourth-quarter profit surged following year-earlier charges plus revenue and margin growth, although the uniform and business-supplies company warned it believed a recovery in the U.S. private sector would be sluggish. Cytec Industries Inc. (CYT) reported second-quarter earnings more than doubled Wall Street's expectations on revenue that handily topped as well, as the specialty chemical company returned to a profit on increased volumes. Eaton Corp.'s (ETN) second-quarter earnings soared as the diversified manufacturer's continued to recover from last year's slumping demand, especially in its automotive segments. FIS Inc.'s (FIS) second-quarter earnings jumped 52% following last year's acquisition of Metavante. The provider of payment- and bank-processing services closed the $2.9 billion deal in October, giving FIS a bigger presence in the financial information-technology market. Host Hotels & Resorts Inc. (HST) posted a surprise second-quarter profit, rebounding from a prior-year loss caused by write-downs and weak demand, as the lodging company posted its first increase in revenue per available room in two years. Knight Capital Group Inc.'s (KCG) second-quarter earnings rose 53%, smashing analysts' estimates, as the company benefited from increased trading because of recent stock-market volatility. Temporary staffing firm Manpower Inc.'s (MAN) second-quarter profit doubled, crushing its forecast, as revenue rebounded and the company saw gains from its acquisition from COMSYS IT Partners. Quest Diagnostics Inc.'s (DGX) second-quarter profit rose 3.5% on lower costs as revenue dropped more than expected. Although earnings exceeded estimates, the company's chief executive said "a further slowdown in physician-office visits contributed to a decline in our revenues" and "has made us more cautious about our full-year outlook." As such, it lowered projected 2010 earnings. SLM Corp. (SLM) swung to a profit for the fourth straight quarter after huge losses from derivatives and hedging a year earlier, while core earnings of the country's largest student lender, commonly known as Sallie Mae, surprised analysts by posting growth. Stanley Black & Decker Inc.'s (SWK) second-quarter earnings fell 34% on charges related to the $4.5 billion combination in March that formed the tool giant, though the results beat analysts' expectations. Stryker Corp.'s (SYK) second-quarter profit grew 9.5% on an increase in sales of orthopedic implants and its MedSurg equipment, although revenue growth for the quarter fell short of Wall Street's expectations. United Technologies Corp.'s (UTX) second-quarter earnings rose 14% as results beat analysts' expectations on broad growth, especially at the Carrier heating and ventilation segment. The industrial conglomerate also boosted its 2010 forecast. (MORE TO FOLLOW) Dow Jones Newswires July 21, 2010 08:46 ET (12:46 GMT)
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