Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.
Earnings continue to take center stage on Wall Street this morning. Apple (AAPL) reported strong sales of its iPhone helped boost profits, but its iPad sales fell for the second consecutive quarter. The consumer electronics giant is gearing up to debut iPhone models with larger screens this fall. Earnings came in a nickel better than estimates, with profits rising 12% from a year ago to $7.7 billion. Even though revenue rose 6% from a year ago, it still came in below expectations. Apple also gave a weak outlook for its current quarter.
Microsoft (MSFT) reported quarterly profits fell 7% with earnings coming in at $0.55 a share, $0.05 below estimates. The company took a financial hit from the purchase of Nokia's cell phone unit. Revenue on the other hand came in slightly above expectations as it benefited from improving corporate demand for cloud-based services and computers. PC shipments also fell a smaller-than-expected 1.7%.
PepsiCo (PEP) shares got a nice pop in early trading. The world's largest snack maker reported earnings of $1.32 a share, topping analysts’ estimates thanks to cost-cutting. Revenue also beat estimates helped by higher beverage and snack volumes. The company also increased its earnings outlook for the year.
Boeing (BA) shares edged higher before the bell. The aerospace giant raised its outlook for the year after second quarter earnings jumped 52% driven by strong demand for its passenger jets, as the health of the airline industry improved. The company reported earnings of $2.42 a share, topping analysts' estimates. Revenue also came in better-than-expected at $22.05 billion.
Whirlpool (WHR) shares fell in the premarket after the company’s earnings and revenue missed analysts’ estimates. Sales in North America rose more than 3%, but fell 14% in Asia. Whirlpool is trying to expand their international footprint as it has pending deals for controlling stakes in appliance companies in Italy and China. The world’s largest maker of home appliances also cut its full-year outlook because of expenses tied to the pending deals.
Puma Biotechnology (PBYI) shares surged in the pre-market after the company said that its experimental breast cancer treatment was successful in a late-stage trial. Puma plans to file for regulatory approval with the Food and Drug Administration in the first half of 2015.