Company News for July 22, 2009

• Procter & Gamble (NYSE:PG - Analyst Report) is reportedly engaged in later-stage discussions regarding the possible sale of its prescription drug unit, which could bring in as much as $3 billion. Possible bidders include private equity firm Cerberus Capital management and Warner Chilcott (NASDAQ:WCRX - Snapshot Report)

• Boeing (NYSE:BA - Analyst Report) reported estimate-beating second quarter earnings of $1.41 a share, ahead of estimates by 20 cents, on inline revenues that rose 1.1% to $17.15 billion. The firm said it sees 2009 earnings of $4.70 to $5.00 per share, well ahead of Street estimates of $4.52

• US Bancorp (NYSE:USB - Analyst Report) reported second quarter earnings of 12 cents a share, two pennies above estimates, as revenues gained 7.1% to $4.2 billion

• Altria (NYSE:MO - Analyst Report) reported second quarter earnings of 50 cents a share, beating estimates by 3 cents, on revenues of $6.7 billion, which topped estimates

• Eli Lilly (NYSE:LLY - Analyst Report) reported better-than-expected second quarter earnings of $1.12, a dime ahead of forecasts, on in-line revenues that rose 0.8% to $5.3 billion. The firm raised its 2009 earnings guidance to $4.20 to $4.30 per share, versus its prior guidance of $4.00 to $4.25 per share

• Pfizer (NYSE:PFE - Analyst Report) beat consensus forecasts, posting second quarter earnings of 48 cents a share, one penny above estimates, on inline revenues, which fell 9.4% to $11 billion

• PepsiCo (NYSE:PEP - Analyst Report) topped Street expectations with second quarter earnings of $1.06, versus estimates of $1.00, on revenues of $10.59 billion, off estimates of $10.99 billion. The company reaffirmed 2009 guidance of medium-to-high single-digit, core earnings per share growth from last year's $3.68

• Whirlpool (NYSE:WHR - Snapshot Report) reported estimate-topping second quarter results of $1.04, ahead of Street estimates of 51 cents, on a revenue miss at $4.17 billion versus estimates of $4.2 billion. The company's 2009 guidance of $3.50-$4.00 exceeded consensus projections of $3.41

• SunTrust Banks (NYSE:STI - Snapshot Report) reported its second quarter loss of 41 cents beat estimates by 11 cents, on inline revenues of $2.2 billion, down 15.6%

• Bank of New York (NYSE:BK - Snapshot Report) reported a second quarter earnings miss at 46 cents versus estimates of 53 cents, as revenues dropped 17.7% to $3.2 billion