Market Snapshot July 21, 2009, 4:35PM EST

Stocks Finish with Small Gains

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In earnings news Tuesday, Caterpillar reported second-quarter earnings per share (EPS) of $0.60, vs. $1.14 one year earlier, on a 41% revenue decline. The company posted $0.72 second-quarter EPS, excluding redundancy costs. Wall Street was looking for EPS of $0.22. Caterpillar tightened its 2009 revenue range to $32 billion-$36 billion, and sees EPS of $1.15-$2.25 (excluding redundancy costs).

Coca-Cola Co. (KO) posted second-quarter EPS of $0.88, vs. $0.61, despite a 9% revenue decline. The company reported $0.92 second-quarter non-GAAP EPS. Wall Street was looking for $0.89.

Merck & Co. reported second-quarter non-GAAP EPS (excluding items) of $0.83, vs. $0.86, on a 3% revenue drop. The company reported a 3% revenue rise, excluding forex. Wall Street was looking for $0.77. Merck reiterated its its expectations for 2009 non-GAAP EPS of $3.15-$3.30 (excluding items) on $23.2 billion-$23.7 billion revenue. The company said all of the 2009 guidance excludes contributions from Schering-Plough that would result from the merger expected to occur in the fourth quarter.

DuPont reported second-quarter EPS (excluding significant items) of $0.61, vs. $1.18, on a 22% sales drop. Wall Street was looking for $0.53. DuPont reaffirmed its 2009 EPS outlook of $1.70-$2.10, excluding significant items.

UnitedHealth Group (UNH) reported second-quarter EPS of $0.73, vs. $0.27, on a 6.8% revenue rise. The company raised its $2.90-$3.15 2009 EPS guidance to $3.00-$3.15.

Texas Instruments (TXN) posted second-quarter EPS of $0.20, vs. $0.44, on a 27% revenue decline, lower gross profit, the negative impact of underutilized manufacturing assets, and restructuring charges. Wall Street was looking for EPS of $0.18. The company sees third-quarter revenue of $2.5 billion-$2.8 billion and EPS of $0.29-$0.39.

United Technologies posted second-quarter EPS of $1.05, vs. $1.32, on a 17% revenue drop. Wall Street was looking for $1.04. The company sees 2009 revenues of $53 billion, $2 billion lower than previously expected, but reaffirmed the bottom end of its earlier 2009 EPS guidance of $4.00; it tightened its 2009 EPS forecast to $4.20-$4.00.