Molson Coors Brewing (NYSE:TAP) said its second-quarter profit fell to $222.8 million, or $1.19 a share, from $237.2 million, or $1.27 a share, in the year-ago period. Adjusted earnings dipped to $1.23 a share, from $1.25 a share. Sales rose 5.7% to $934 million. Wall Street analysts expected Molson Coors to earn $1.29 a share on revenue of $958.5 million, according to a survey by FactSet Reseasrch. The company said it plans to buy back $1.2 billion in stock over the next three years.-MarketWatch
Ford Motor (NYSE:F) says it is recalling 1.1 million pickup trucks because the gas tanks can fall off and cause a fire. The company is recalling certain Ford F-150, F-250 and Lincoln Blackwood pickups. The recall affects certain models from the 1997 model year through the 2004 model year. They were sold in cold-weather states where salt is used to clear roads. That salt can corrode straps holding the tanks in place. -Daily Finance
Pfizer (NYSE:PFE) reported second-quarter profit that topped analyst estimates, boosted by a weakening dollar and sales of its pain medications. Profit excluding certain items was 60 cents a share, beating the 59-cent average estimate of 16 analysts. Net income rose to $2.61 billion, or 33 cents a share, from $2.48 billion, or 31 cents, a year earlier. Sales declined 0.9 percent to $16.98 billion. Pfizer is selling its animal health and infant formula units and trimming its workforce to prepare for the loss in November of exclusive rights to Lipitor, the world’s best- selling drug with $10.7 billion in annual sales. Pfizer has three late-stage experimental medicines that analysts estimate may bring in more than $3.5 billion annually by 2015. Pfizer reiterated its 2011 profit forecast range of $2.16 to $2.26 a share. -Bloomberg
Duke Energy (NYSE:DUK) said its second-quarter profit rose to $435 million, or 33 cents a share, from a loss of $222 million, or 17 cents a share, in the year-ago period. Duke Energy’s adjusted net income fell to 33 cents a share, from 34 cents a share. Operating revenue increased to $3.53 billion, from $3.29 billion. Wall Street analysts expected Duke Energy to earn 30 cents a share, on revenue of $3.32 billion, according to a survey by FactSet Research. The Charlotte, N.C. power producer said it’s on track to achieve its 2011 adjusted earnings target of 1.35 to $1.40 a share. -MarketWatch
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