Shares of United Technologies (UTX) were rising Tuesday afternoon following the release of the company's second-quarter earnings results.
CEO Gregory Hayes believes the company received a boost from its new engine this quarter. as it reported earnings of $1.82 per share, topping analysts' expectations of $1.68 per share. "Pratt & Whitney had 4% organic growth, our aerospace systems business had 2% growth. The commercial side was really hurt by slow growth in China where we saw orders for new equipment down about 14%," Hayes told CNBC.
Verizon VZ shares were down nearly 2% following the communications company's second-quarter earnings release. The company said a strike by 40,000 employees hurt its revenue in the period. Revenue fell 5% year over year to $30.53 billion vs. analysts' expectations of $31.12 billion. Net income of $0.94 per share topped analyst expectations by a penny.
The revenue miss comes one day after the company announced that it won a bid for Yahoo's YHOO internet business for $4.83 billion. The company plans to combine Yahoo with AOL, which it bought for $4.4 billion last year.
Activision (ATVI) shares were down more than 2% after the company announced it will host a conference call on Friday to discuss changes to the release of its latest quarterly report. The changes are due to the SEC's concerns about the use of non-GAAP numbers in multiple securities' reports.
Finally, Coca-Cola shares were falling ahead of the company's earnings release on Wednesday. Analysts are expecting the company to report earnings of $0.58 a share on revenue of $11.65 billion. In the year-ago period, the company reported a profit of $0.71 per share on revenue of $12.61 billion.