DOW JONES NEWSWIRES
Below is a synopsis of major second-quarter releases from Monday
night and Tuesday morning:
Goldman Profit Surges On Trading Ops
Goldman Sachs Group Inc.'s (GS) earnings soared 65% as the
banking giant's results widely beat analysts' views on a smashing
performance at its trading operations. But its stock, which gained
5.3% Monday amid growing expectations that the bank's earnings
would beat estimates, were little changed in early trading.
J&J Hurt By Currency Impacts, Generics
Johnson & Johnson (JNJ) posted a 3.6% profit drop as results
were hurt by the stronger dollar and generic competition for
several former big sellers. Shares of J&J, which reiterated its
2009 earnings target, added 1% to $58.30 as results topped
analysts' expectations.
CSX Sees Big Drop In Shipping Volume
CSX Corp.'s (CSX) profit dropped 20% as revenue and margins
declined, though the railroad company indicated some markets may be
reaching the end of their decline. Its stock rose 5.9% to $34.47 as
the profit drop wasn't as bad as analysts feared. The company said
Tuesday morning that third-quarter demand should fall at a
double-digit rate but be less than the second quarter's 21%
slide.
Arkansas' Bank Of The Ozarks Benefits From Gains
Bank of the Ozarks Inc.'s (OZRK) earnings rose 10% on gains from
the sales of investment securities. Shares fell 2.6% to $22.92 as
credit costs soared amid $10.5 million charge-off of a single
account.
Novellus Posts Another Loss, Gives Upbeat View
Novellus Systems Inc.'s (NVLS) loss widened as revenue plunged
and the company recorded restructuring charges. It was the fourth
loss in the past five quarters for the semiconductor-equipment
maker. But the stock rose 1.6% to $18.95 as current-quarter
estimates were above analysts' expectations.