Thursday headlines include General Electric selling its appliance unit, Ford killing sex, and earnings from United Health, Mattel and Las Vegas Sands.
Industrial conglomerate General Electric ( GE ) is considering the sale of its household appliances business according to media reports. The company that invented the electric toaster tried unsuccessfully to sell the unit about six years ago. The appliance business generated about $8 billion in sales in 2013, about 5.6% of the company's total.
Insurer UnitedHealth ( UNH ) said Thursday that it earned $1.42 per share in the second quarter on $32.57 billion in revenue. Analysts had expected earnings of $1.26 per share on $31.9 billion in revenue. The company said it added 270,000 members to its healthcare plans during the quarter and also saw strong growth in its Optum pharmacy services division. For the rest of the year, the company tightened the expected range for full-year earnings to $5.50 to $5.60 per share, from a prior range of $5.40 to $5.60 per share. Analysts had expected earnings of $5.52.
The founder of electric-car maker Tesla Motors ( TSLA ), Elon Musk, said "Ford is trying to kill sex" in a recent interview with a British car magazine. The comment was a reference to Ford's ( F ) suit against Tesla to block the company from calling its mass-market automobile the Model E. The Model E would have joined the current Model S and the yet-to-be launched crossover SUV, the Model X. Tesla has decided to call the mass-market car the Model III.
Profit at toymaker Mattel ( MAT ) fell in the second quarter. The company said it earned 8 cents per share, or 13 cents per share when adjusted for one-time costs associated with the company's acquisition of Mega Brands. Analysts had expected the company to earn 18 cents per share. Revenue was $1.06 billion. Analysts had expected the company to report $1.19 billion in sales.
Las Vegas Sands
Casino and gaming giant Las Vegas Sands (LVS) said Wednesday that it earned 83 cents per share in the second quarter, or 85 cents on an adjusted basis. Revenue was $3.62 billion, compared to estimates for $3.78 billion. Sheldon Adelson, the company's CEO, said the company is in position for more success in the lucrative Macau market.
This article was originally published on MarketIntelligeneCenter.com