• Advanced Micro Devices, Inc. (NYSE:AMD) reported first quarter earnings per share of $0.09, surpassing the Zacks Consensus Estimate by a penny
• Microsoft Corporation’s (NASDAQ:MSFT) fourth quarter 2011 earnings per share beat the Zacks Consensus Estimate by $0.11, or 19.0%. GAAP EPS and pro forma EPS were same at $0.69 compared with $0.61 in the prior quarter and $0.51 in the year-ago quarter
• Schlumberger Limited (NYSE:SLB) reported second-quarter 2011 earnings of $0.87 per share (excluding special items), beating the Zacks Consensus Estimate of $0.85
• Verizon Communications Inc.’s (NYSE:VZ) second quarter adjusted earnings of $0.57 per share was ahead of the Zacks Consensus Estimate by $0.02 and above the year-ago earnings of $0.51. In another development, Verizon appointed Lowell McAdam as its new CEO who will replace current CEO Ivan Seidenberg effective August 1
• Honeywell International Inc. (NYSE:HON) reported second-quarter 2011 earnings per share from continuing operations of $1.02, surpassing the Zacks Consensus Estimate of $0.98 and prior-year earnings of $0.73 cents
• General Electric Co. (NYSE:GE) second quarter 2011 earnings per share from continuing operations of $0.34 surpassed the Zacks Consensus Estimate of $0.32 and were up 17% year over year
• Jefferies Group Inc. (NYSE:JEF) upgraded Autodesk, Inc. (NASDAQ:ADSK) to “Buy” rating from a “Hold” rating
• The Goldman Sachs Group, Inc. (NYSE:GS) downgraded The Chubb Corporation (NYSE:CB) to a “Neutral” rating from a “Buy” rating
