The companies whose shares are declining in pre-market trade on Friday are: CR Bard, Caterpillar, Cummins, Verizon Communications, FLIR Systems, Deere and Honeywell International.
CR Bard Inc. (NYSE:BCR) shares slumped 7.28 percent to $104.50 in pre-market trading session. The company swung to second quarter net loss of $47.80 million or $0.55 per share compared to net income of $124.60 million or $1.29 per share in the same quarter a year-ago.
Caterpillar Inc. (NYSE:CAT) shares plunged 6.36 percent to $104.75 in pre-market trading session as its second quarter earnings missed analysts’ estimates. Net income rose 44 percent to $1.02 billion or $1.52 per share compared to $707 million or $1.09 per share in the same period a year-ago.
Excluding $204 million of expense related to the acquisition of Bucyru, the company reported second quarter net income of $1.72 per share compared to analysts’ estimation of $1.79 per share. Sales and revenue rose 37 percent to $14.23 billion in the second quarter. The company currently expects fiscal 2011 earnings to be in the range of $6.75 to $7.25 per share on revenue of $54 to $56 billion.
Cummins Inc. (NYSE:CMI) shares declined 1.69 percent to $105.75 in pre-market trading session.
Verizon Communications Inc. (NYSE:VZ) shares declined 0.05 percent to $37.55 in pre-market trading session. The company swung to second quarter net profit of $1.61 billion or $0.57 per share compared to net loss of $1.19 billion or $0.42 per share in the same quarter last year. The company also named Lowell C. McAdam, current chief operating officer, as its new CEO.
FLIR Systems Inc. (NASDAQ:FLIR) shares declined 3.39 percent to $27.75 in pre-market trading session. Its second quarter net income declined to $29.3 million or $0.18 per share from $59.5 million or $0.37 per share in the same period a year-ago.
Deere & Co. (NYSE:DE) shares declined 1.6 percent to $80.98 in pre-market trading session.
Honeywell International Inc. (NYSE:HON) shares declined 1.39 percent to $57.40 in pre-market trading session. Its second quarter net profit rose to $810 million or $1.02 per share from $566 million or $0.73 per share in the same quarter last year.