JP Morgan Chase (JPM) is expected to move in reaction to its announcement that its second quarter earnings rose to $1.90 per share from 28 cents per share in the year-ago period. On a reported basis, net revenues fell to $25.10 billion from the year-ago’s $27.67 billion. Analysts estimated earnings of 70 cents per share on revenues of $25.59 billion.
AIG (AIG) could be in focus after it reported that its chairman Harvey Golub has resigned, citing disagreements with the company’s CEO Robert Benmosche. The company also announced the appointment of Robert Miller as the new chairman.Shares of PC makers could see some activity in reaction to the results of the quarterly PC market surveys by IDC and Gartner. IDC said second quarter PC shipments received a shot in the arm from rising demand from corporate customers and strength in Europe. Shipments rose 22.4% year-over-year. Meanwhile, Gartner’s estimates suggest year-over-year shipment growth of 20.7%.
According to IDC, Hewlett-Packard retained its number one slot in terms of markets share, although it saw a 1.6 point-erosion in its market share to 18.1%. Dell (DELL) regained the number 2 slot from Acer.
Marriott International (MAR) is likely to move in reaction to its announcement that its second quarter earnings were 31 cents per share, up 35% from the adjusted net income of the year-ago period. Total revenues rose 12% to $2.77 billion. Analysts estimated earnings of 28 cents per share on revenues of $2.75 billion. The company expects comparable systemwide REVPAR for the third quarter to rise 5%-7% on a constant currency basis. Additionally, the company said it expects earnings of 18-22 cents per share for the third quarter and $1.05 to $1.13 per share for 2010. The consensus estimates call for earnings of 22 cents for the third quarter and $1.04 per share for the full year.
Landstar (LSTR) may also be in focus after it reported that its second quarter revenues rose 31% to $641.7 million. The company’s earnings rose to 49 cents per share from the year-ago’s 35 cents per share. Analysts estimated earnings of 48 cents per share on revenues of $600.04 million.
GlaxoSmithKline (GSK) is expected to react to a decision by a FDA panel regarding its diabetes drug Avandia. After reviewing a range of possibilities from making no changes to the label to withdrawal of the drug from the U.S. market following concerns over its cardiovascular safety, the committee voted to allow the drug to remain in the market.Separately, GlaxoSmithKline said it expects to record a legal charge of 1.57 billion pounds in its second quarter, equating to an after-tax cost of 1.35 billion pounds. The company clarified that the charges include settlements, agreements in principle to settle and other provisioning for long-standing cases.
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