Stocks to watch: Disney, Sirius
The entertainment giant is due to report after the close, and the satellite radio company's result topped expectations.
Walt Disney (DIS) reports fiscal third-quarter results after Tuesday's closing bell and analysts are calling for earnings of 93 cents a share on revenue of $11.30 billion. Shares of Disney, a Dow component, have risen more than 30% since the start of the year.
Sirius XM Radio (SIRI) reported a profit of $3.1 billion, or 48 cents a share, much higher compared to last year's profit of $173.3 million, or 3 cents, helped by a $3 billion income-tax gain. Revenue jumped 13% to $837.5 million, with subscriber revenue up 14%. Net subscriber additions were 622,042, up 38% from a year earlier. The satellite radio company was expected by analysts to post second-quarter earnings of 2 cents a share on revenue of $834.4 million. The company also raised its revenue forecast for the year to about $3.4 billion, from $3.3 billion.
Sirius has topped expectations in four of the past five quarters, and the stock has risen more than 15% in 2012. Shares jumped some 2.7% in pre-market trading Tuesday at last check.
Priceline.com (PCLN) is seen earning $7.36 a share in the June-ended quarter on revenue of $1.35 billion. The online travel reservation company posted year-earlier earnings of $5.49 a share on revenue of $1.10 billion.
Johnson & Johnson (JNJ) and Pfizer (PFE) announced the discontinuation of the development of bapineuzumab intravenous, a proposed treatment for mild-to-moderate Alzheimer's disease, after a disappointing phase III trial.
The two companies were partners on the drug's development as was Elan (ELN), which has a 49.9% interest in Janssen AI, the J&J unit that was working with Pfizer on the drug. Elan said it expects to record a non-cash impairment charge of $117.3 million in the third quarter to write down the entire value of its Janssen AI investment.
CVS (CVS), the drugstore chain, reported second-quarter profit of $966 million, or 75 cents per share, up from $816 million, or 60 cents per share, a year earlier. Excluding one-time items, CVS earned 81 cents per share. Revenue rose 16.3 percent to $30.71 billion. CVS was expected by analysts to post quarterly profit of 79 cents a share on revenue of $31.02 billion. The company also raised its full-year earnings guidance. Shares of CVS rose 2.7% in pre-market trading.
Leap Wireless (LEAP) reported a wider-than-anticipated loss in the second quarter.
The San Diego-based provider of wireless communications services posted a loss Monday of $46 million, or 54 cents a share, on revenue of $786.8 million, missing the average estimate of analysts polled by Thomson Reuters for a loss of 50 cents a share on revenue of $836.3 million.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Investors are anxious to see if hiring can maintain its strong pace in the second half of the year.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.