Earnings Round-Up for Today

Here are some highlights of major earnings reports from today:

Morgan Stanley Posts Third Straight Quarterly Loss

The bank said that its net loss was $1.26 billion, or $1.10 a share, which included a charge to repay government bailout money. That compared with earnings of $1.06 billion, or $1.02 a share, in the period a year earlier. The loss from continuing operations was $159 million, or $1.37 a share, in the second quarter. In the first quarter, Morgan Stanley had reported a loss of $177 million. Morgan shares were down 1.6 percent in mid-morning trading after being down almost 6 percent.

Wells Fargo Stages another Strong Quarter

The San Francisco-based lender said Wednesday that it earned $3.17 billion, or 57 cents a share in the quarter, up 81% from $1.75 billion, or 53 cents during the same period a year ago.

AirTran Swings to 2Q Profit of $78.4M

The Orlando, Fla.-based company’s profit for the April-June quarter was equivalent to 56 cents a share, compared to a loss of $14.8 million, or 14 cents a share, a year earlier.

Revenue in the quarter fell to $603.7 million from $693.4 million a year earlier.

Excluding one-time items, profit would have been 34 cents a share in the latest quarter. Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, expected profit of 32 cents a share on revenue of $601.1 million.

Eli Lilly 2Q Profit Rises 21%

Lilly earned $1.16 billion, or $1.06 per share, up from $958.8 million, or 88 cents per share, a year earlier. Excluding a 6-cent charge for possible legal settlements, Lilly reported adjusted earnings of $1.12 per share.

Revenue rose 3 percent to $5.29 billion.

The performance trumped Wall Street expectations. Analysts polled by Thomson Reuters expected earnings per share of $1.02 on $5.28 billion in revenue.

Pepsi 2Q Down 2% On Currency, North American Pressures

Pepsi reported its second quarter profit slipped to $1.66 billion from $1.7 billion a year ago. But per-share figures rose to $1.06 from $1.05 as shares outstanding fell 2.5%. Excluding mark-to-market gains and restructuring expenses, earnings dipped to $1.02 from $1.03.

Revenue decreased 3% to $10.59 billion, but excluding foreign-exchange effects, it rose 5.5%.

Analysts polled by Thomson Reuters most recently were looking for earnings of $1 on revenue of $10.99 billion.

Boeing Q2 Earnings Grow, Thanks to Defense Business

Buoyed by growth in its defense programs, Boeing Co. reported second-quarter net income grew to $998 million, or $1.41 per share, up from net income of $852 million, or $1.16 a share a year earlier.

Revenue grew to $17.1 billion from $16.96 billion in 2008.

Heart Products Boost St. Jude 2Q profit 14%

St. Jude said its profit rose to $219.4 million, or 63 cents per share. A year ago, the company earned $192.9 million, or 55 cents per share. Revenue increased 4 percent, to $1.18 billion from $1.14 billion, as sales from heart valve products and devices that treat atrial fibrillation increased.

According to Thomson Reuters, analysts expected a profit of 63 cents per share and $1.2 billion in revenue.

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