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Gilead Sciences Records Strong Profits

Foster City, California-based Gilead Sciences announced total revenue for the first quarter of $5.3 billion compared to $5.1 billion in 2018. Adjusted net income was $2.3 billion of $1.76 per share vs. $2.0 billion of $1.48 per share last year. HIV product sales rose to $3.6 billion compared to $3.2 billion primarily driven by higher… Continue reading Gilead Sciences Records Strong Profits

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Marathon Petroleum Posts Lower Profits; Acquires Andeavor Logistics

Marathon Petroleum Corp. reported a first quarter loss of $7 million or $(0.01) per share. Refining & Marketing segment loss from operations was $334 million, Midstream segment income came in at $908 million and the Retail business had net income of $170 million. The company generated $1.6 billion of operating cash flow and returned $1.2… Continue reading Marathon Petroleum Posts Lower Profits; Acquires Andeavor Logistics

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ON Semi Beats Earnings’ Views; Outlook Remains Soft

Phoenix-based ON Semiconductor Corp. (NASDAQ: ON - $22.44) reported revenue in the first quarter of $1.39 billion, up about one percent compared the first quarter of 2018 and in line with consensus. Adjusted earnings per share was $0.43 vs. $0.40 last year and three cents ahead of Street estimates. The company delivered relatively strong results… Continue reading ON Semi Beats Earnings’ Views; Outlook Remains Soft

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Cerner Reports In-Line; Reaffirms Guidance

Health care information technology services provider Cerner Corp. (NASDAQ: CERN - $64.60) reported first quarter revenue of $1.39 billion, an increase of 8% compared to $1.293 billion in the first quarter of 2018 and in line with consensus. Adjusted earnings were $198.5 million versus $193.9 million last year and earnings per share was $0.61 compared… Continue reading Cerner Reports In-Line; Reaffirms Guidance

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Newmont Beats Earnings Views; Revenue Misses

Newmont Goldcorp Corp. (NYSE: NEM - $31.21) gave investors a last look at Newmont Mining's books before its merger with Goldcorp. The pre-merged company’s first-quarter profit fell 55% from a year earlier as the company recorded higher expenses and weaker sales. Net income fell to $87 million down from $192 million. Excluding special items like… Continue reading Newmont Beats Earnings Views; Revenue Misses

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International Paper Delivers Solid Earnings

Shares of International Paper Co. (NYSE: IP - $46.07) are moving higher by 4% after a profit beat offset a slight revenue miss. Memphis, Tennessee-based IP said it had net income of $424 million, down from $729 million in the year-earlier period. Adjusted per-share earnings, however, came to $1.11 vs. $0.94 last year and ahead… Continue reading International Paper Delivers Solid Earnings

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CSX Tops Views; Reiterates Guidance

Shares of CSX Corp. (NYSE: CSX - $75.89) are advancing about 4% after hours following its report of first quarter profits that topped Wall Street's expectations. The Jacksonville, Florida-based east coast rail and intermodal carrier said that a combination of cost reductions and price increases pushed earnings higher. Net profit was $834 million, or $1.02… Continue reading CSX Tops Views; Reiterates Guidance