Pfizer Inc. , the world’s biggest drugmaker, said first-quarter profit rose more than analysts estimated as products added from the acquisition of Wyeth overcame costs from the U.S. health overhaul. The shares gained.
Macy’s Inc. , the second-biggest U.S. department-store chain, reported earnings that beat analysts’ estimates after keeping a lid on costs and selling exclusive holiday gifts from celebrity lines including Jessica Simpson ’s.
As Standard & Poor’s considered the first ratings downgrade of the world’s biggest economy in late July, some of the largest bond investors held undisclosed meetings with the firm that would ultimately strip the U.S. of its AAA grade.
Lockheed Martin Corp. and Raytheon Co . reported fourth-quarter profits that declined about 1 percent as tighter controls over U.S. government spending cut into the defense companies’ operating margins.
Lockheed Martin Corp., the world’s largest defense company, posted first-quarter profit that exceeded analysts’ estimates. The company trimmed its 2010 forecast on higher costs from a change in health-care laws.