Company News for July 27, 2010 - Corporate Summary

• US Steel's X second quarter earnings of 45 cents per share were below Zacks estimates of 63 cents, on revenues of $4.68 billion that beat Zacks estimates of $4.53 billion

• Occidental Petroleum OXY reported second quarter earnings of $1.31, three cents below Zacks projections, on a 29.1% revenue jump to $4.76 billion, slightly above Zacks estimates of $4.75 billion

• Western Union WU reported second quarter results of 36 cents, four cents above Zacks estimates, on revenues of $1.27 billion, versus Zacks estimates of $1.28 billion

• BP BP was in news this morning after Tony Hayward announced plans to step down and American executive Bob Dudley was named his replacement. A second quarter loss of $17.15 billion was recorded versus last year's $4.4 billion profit, on a pre-tax charge of $32.2 billion. The company plans to sell up to $30 billion in assets to pay for the Gulf oil spill

• CIT Group CIT topped estimates with a second quarter profit of 71 cents, versus Zacks estimates of 30 cents, after losing $4.30 a year ago prior to its bankruptcy and financial restructuring

• DuPont DD reported second quarter earnings of $1.17, versus Zacks estimates of 94 cents, on a 25.6% revenue gain to $$8.61 billion, up from estimates of $8.26 billion. The firm also raised its 2010 guidance to $2.90 to $3.05 from its prior estimate of $2.50 to $2.70

• L-3 LLL posted second quarter earnings of $2.04, beating Zacks estimates of $1.93, on revenues of $4 billion