Pfizer Inc (NYSE: PFE) and Archer Daniels Midland Co (NYSE: ADM) released their quarterly financial results today. ADM reported net earnings of $345 million for the first quarter of 2011, down $151 million from the same quarter of 2010. Their reported earnings per share were $0.54, down from quarter one 2010’s EPS of $0.77. PFE reported third quarter 2010 revenues of $16.2 billion, a 39 percent increase over quarter three 2009.
Despite the mixed quarterly financial results, the fact that it’s too early to know election results and that the Federal Reserve won’t be issuing a statement about its two-day meeting until tomorrow, The Dow Jones Industrial Average was up all day and at closing, had risen 64.1 points to 11,188.72. The S&P 500 rose 9.19 points to 1,193.57 and the Nasdaq gained 28.68 points to 2,533.52.
European markets were up while Asian markets were mixed on Tuesday after Australia and India each raised their key deposit rates in an effort to curb the possibility of inflation.
Stocks in the news: Art Technology Group Inc (NASDAQ: ARTG), Oracle Corporation (NASDAQ: ORCL), Electronic Arts Inc (NASDAQ: ERTS).
