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Chevron and Berkshire Report; First Solar Shines on Earnings

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Dow component Chevron (CVX) which is reporting earnings this morning. The company is expected to make $2.71 a share up from $2.57 a year ago. That's on sales that are essentially flat at $58-billion. Chevron is currently in court trying to overturn a 19-billion dollar pollution verdict in Ecuador. That money was awarded back in 2010. Chevron goes into today's regular trading session with shares up 9% year-to-date."

Berkshire Hathaway (BRK-A) reports after the closing bell. Warren Buffett's company is expected to post profits of 4.3-billion. Prior to the quarter the company already had a cash hoard of almost $36-billion, meaning the Oracle and his cohorts are probably looking for more acquisitions. Berkshire stock is up about 24% so far this year.

Now First Solar (FSLR) which has been up more than 8% in early trading on its earnings. The company posted profits of $1.94 a share, far outshining estimates of $1.13, Revenues also rose 51% year-over-year to $1.27-billion. The consensus had been for $839-million. Shares of First Solar are up 57% year-to-date, even before this morning's climb.

Ariad Pharmaceuticals (ARIA) which is currently up about 4%. Shares plunged 44% yesterday after the company halted sales of a leukemia drug. The move came after the FDA found the medication caused life-threatening blood clots. On October 1st shares of Ariad were trading at almost $19-dollars. They've lost almost 90% since then.

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