NEW YORK— Martha Stewart Living Omnimedia Inc. on Tuesday reported a second-quarter profit after posting a loss in the same period a year ago. The New York- based company reported net income of $1.8 million, or 3 cents per share, compared with a loss of $1.2 million, or 2 cents per share, in the same quarter a year ago.
July 29- Merck& Co Inc reported better-than-expected quarterly results on Tuesday, helped by strong sales of consumer products and medicines for arthritis and HIV, sending its shares up more than 1 percent in morning trading.
CNBC's Meg Tirrell reports both Merck and Pfizer beat earnings expectations amid patent expirations.
NEW YORK— The New York Times Co. on Tuesday reported earnings that declined by 54 percent in its second quarter, and missed analysts' expectations. The New York- based company said net income declined to $9.2 million, or 6 cents per share, from $20.1 million, or 13 cents per share, in the same quarter a year earlier.
July 29- U.S. manufacturer Eaton Corp lowered the top end of its full-year profit forecast on Tuesday due to weaker margins in its electrical systems business, sending its shares down more than 3 percent. Eaton now expects 2014 earnings in a range of $4.50 to $4.70 per share, lowering the top end from $4.90.
NEW YORK, July 29- U.S. stocks rose slightly at the open on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on consumer sentiment.
ST LOUIS, Mo.— Arch Coal Inc. on Tuesday reported a bigger loss in its second quarter, and beat analysts' expectations. The St. Louis- based company posted a loss of $96.9 million, or 46 cents per share, compared with a loss of $72.2 million, or 34 cents per share, in the same quarter a year earlier.
July 29- AK Steel Holding Corp reported a surprise adjusted profit for the second quarter as shipments rose. Steel prices in North America are near two-year highs, helped by firm U.S. economic growth. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the second quarter, from $40.4 million, or 30 cents per share, a year earlier.
July 29- Sirius XM Holdings Inc reported a stronger-than-expected 10 percent rise in quarterly revenue as it added more paying subscribers, and the satellite radio service raised its full-year revenue forecast.
The "Squawk on the Street" news team discusses the quarterly results of Merck and Pfizer.
Major indexes in Europe and Asia climbed ahead of a string of U.S. and Chinese economic reports later this week. A DOUBLE: A large sale and a tax benefit helped Merck& Co. more than double its second-quarter profit, easily topping Wall Street's expectations. The drugmaker also raised its profit forecast for 2014. Its stock climbed 86 cents, or 2 percent, to $58.84.
*Pfizer, Merck rise as results beat expectations. NEW YORK, July 29- U.S. stocks were set to rise slightly at the open on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on consumer sentiment. Pfizer's higher-than-expected second-quarter earnings were helped by growing sales of its cancer medicines.
LAS VEGAS— Wynn Resorts Ltd.' s second-quarter earnings increased 57 percent, bolstered by strong results in Las Vegas. The Las Vegas- based company said net income rose to $203.9 million, or $2 per share, from $129.8 million, or $1.28 per share, in the same quarter a year ago.
DETROIT, July 29- Auto systems supplier TRW Automotive Holdings Corp, targeted for takeover by ZF Friedrichshafen, easily beat Wall Street profit expectations for the second quarter as revenue rose 2 percent. Excluding one-time items, TRW earned $2.32 per share in the quarter, versus $2.02 a year earlier, it said on Tuesday.
NEW YORK, July 29- Ally Financial Inc reported a bigger-than-expected quarterly profit on Tuesday as auto lending jumped 11 percent to the second-highest level in the company's history. The former financing arm of General Motors Co said it had earned $323 million, or 54 cents per share, in the second quarter.
HOUSTON— Waste Management Inc. on Tuesday reported that its second-quarter profit fell 14 percent. The Houston- based garbage and recycling hauler also announced that it is selling Wheelabrator Technologies Inc. to Energy Capital Partners for $1.94 billion.
July 29- Merck& Co Inc reported better-than-expected quarterly results on Tuesday, with sales of consumer products and medicines for arthritis and HIV helping to offset the impact of generic competition on other drug sales. Merck, the No. 2 U.S. drugmaker, earned $2.03 billion, or 68 cents per share, in the second quarter.
NEW ORLEANS— Entergy Corp. on Tuesday reported earnings that rose by 16 percent in its second quarter, and fell short of analysts' expectations. The New Orleans- based company said profit after paying preferred dividends increased to $189.4 million, or $1.05 per share, from $163.7 million, or 92 cents per share, in the same quarter a year earlier.
July 29- United Parcel Service Inc, the world's biggest courier company, slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season. The Atlanta- based company said it expects full-year adjusted earnings of $4.90- $5.00 per share.
July 29- U.S. steelmaker AK Steel Holding Corp reported a smaller second-quarter loss, helped by higher shipments. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the quarter ended June 30, from $40.4 million, or 30 cents per share, a year earlier. Net sales rose 9 percent to $1.53 billion.