Boeing (BA) flies high, but Caterpillar (CAT) gets stuck in the mud. Both Dow components reported earnings in just the past hour. Look at the numbers. Boeing made $1.80 a share, a quarter better than expectations. But Caterpillar came in 13-cents under estimates on sales that were nearly a billion dollars short.
Also reporting this morning were a trio of big pharma companies. First up is Eli Lilly (LLY) which beat on the bottom line with earnings of $1.11 a share. Revenues were basically in line with estimates. Next is Bristol-Myers Squibb (BMY) has come out with a beat. The company made 46-cents a share, 2-cents better than expectations on revenues topping $4-billion. And on the other side of the pond GlaxoSmithKline (GSK) has reported its profits in pounds. The company says sales missed estimates, largely because an anti-corruption probe in China has hurt its business there.
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