Apple Inc. (AAPL: Quote) is up over 1 percent to $602.13 amidst reports that the company plans to release a new version of its iPhone in September.
Pfizer Inc. (PFE: Quote) is rising 1 percent to $24. The company's second quarter profit increased from the previous year. The company said its profit was favorably impacted by lower purchase accounting adjustments, lower costs related to cost-reduction and productivity initiatives, lower acquisition-related costs and lower impairment charges. The company also announced that it plans to file for a potential initial public offering of up to a 20% ownership stake in the Animal Health Business, Zoetis.
Deutsche Bank AG (DB: Quote) is rising more than 2 percent to $31.07. The company announced that it has identified cost savings of around 3 billion euros. The company said it is reviewing its compensation practices and codes of personal conduct. As part of the cost cut plans, the company intends to eliminate 1,900 jobs, predominantly outside of Germany.
Kulicke & Soffa Industries Inc. (KLIC: Quote) is rising 12 percent to $11.01. The company's third quarter profit and revenue declined from the year-ago quarter, but were above Wall Street view. The company also guided its fourth quarter net revenue above the consensus estimate.
Cirrus Logic Inc. (CRUS: Quote) is up 21 percent to $36.15 following release of its first quarter results.
Coach, Inc. (COH: Quote) is plunging 15 percent to $51.55. The company's fourth quarter profit increased from the same period last year and were above Wall Street view. Sales improved 12 percent, but missed the consensus estimate.
Archer Daniels Midland Co. (ADM: Quote) is down more than 5 percent to $25.90. The company's fourth quarter profit plunged from the year-ago quarter. The company noted that its adjusted earnings per share decreased primarily due to lower segment operating profit, partially offset by lower corporate expenses. Net sales and other operating income were below analysts' projection.
Seagate Technology (STX: Quote), RealD Inc. (RLD: Quote), CafePress Inc. (PRSS: Quote) are falling following their announcement of results.
Trading in shares of Auxilium Pharmaceuticals Inc. (AUXL: Quote) was halted. The company swung to a profit in its second quarter. Total revenues increased 19 percent and were above Wall Street view. The company attributed the higher revenues to increases in U.S. sales of both Testim and XIAFLEX. Meanwhile, the company raised its earnings and net revenues forecast for full year 2012.
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by RTT Staff Writer
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