News Summary

Shares of Archer Daniels Midland Co ADM advanced about 7% after the company reported Q2 results. The company's net profit increased to $1.14 per share, from $0.88 per share, in the year-ago period. ADM reported its sales at $20.93 billion, up from $15.91 billion, in the year-ago quarter. However, analysts were expecting earnings of $0.79 per share on revenue of $17.42 billion. Shares of Biogen Idec Inc BIIB gained about 3% after the company reported upbeat Q4 earnings. The company's net profit dropped 21% to $240.3 million, or $0.99 per share, from $305.6 million, or $1.06 per share, in the year-earlier period. However, the company's revenue increased 8.2% to $1.22 billion. Excluding one-time items, BIIB reported its earnings at $1.42 per share. However, analysts had expected adjusted earnings of $1.22 per share on revenue of $1.17 billion. The company projected 2011 adjusted earnings to be above $5.70 per share. However, analysts were projecting 2011 earnings of $5.59 per share. Shares of McGraw-Hill Cos Inc MHP rose about 0.6% after the company reported its Q4 results. MHP's Q4 profit fell 8% to $153.8 million, or $0.50 per share, versus $167.3 million, or $0.53 per share, in the year-ago period. On an adjusted basis, MHP's earnings came in at $0.55 per share. The company's revenue increased 4% to $1.52 billion. However, analysts had expected earnings of $0.53 per share on revenue of $1.52 billion. Read more from Benzinga's Markets.