Company News for August 3, 2011

• Westlake Chemical Corporation (NYSE:WLK) posted Q2 EPS of $1.21, beating analysts’ estimates of $1.19 per share. Revenues rose 13% year-over-year to $925.0 million

• Engineering company Foster Wheeler AG’s (NASDAQ:FWLT) shares rose 2.12% to close at $27.02 after the company posted second-quarter earnings that came in above the Street's expectations

• Share prices of Herbalife Ltd. (NYSE:HLF) increased 5.69% after the nutritional-supplement seller forecasted third-quarter earnings beating analysts’ estimates

• Pfizer (NYSE:PFE) reported adjusted Q2 EPS of $0.60, marginally ahead of the Zacks Consensus Estimate of $0.59 per share. Revenues for the quarter fell 1% to $17.0 billion, in line with the Zacks Consensus Estimate

• General Cable Corp.’s (NYSE:BGC) share prices declined by 17.67% after the wire maker's second quarter profit and revenue figures came in behind estimates

• Share prices of drug developer II-VI, Inc.’s (NASDAQ:IIVI) fell 12.64% to $22.02 after the company issued its guidance for the first quarter below expectations

• Benchmark downgraded shares of eResearch Technology, Inc. (NYSE:ERT) to "Hold" rating from "Buy" rating and also lowering the target price to $6.50

• Shares of Wal-Mart Stores, Inc. (NYSE:WMT) were downgraded by Goldman Sachs (NYSE:GS) analysts to “Hold” rating. The analysts also set a target price of $56.00 on the share prices of the retailer

• Analysts at JP Morgan (NYSE:JPM) downgraded shares of Shire Plc. (ADR) (NASDAQ:SHPGY) to “Neutral” rating from “Overweight” rating

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