The World’s Largest Companies

Stocks are lower, as good reports from Pepsi and
Genentech are balanced by higher crude oil prices.

Genentech
reported  Q2 earnings of 0.30 vs a 0.26 forecast; revenues were in-line.
Herceptin sales rose 23%. Tarceva sales were $10 million higher than analysts
expected. DNA is up nearly $40 in the past 4 months. The company upped its
guidance.

Pepsi
(
PEP |
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PowerRating) beat by 0.03 and said it was confident in its 2005
outlook.

Ameritrade
(
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in-line guidance. Profits jumped 20%.

British Petroleum’s
(
BP |
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PowerRating) $6.5 billion Thunder Horse
platform may be sinking. The platform–located in the Gulf of Mexico–is listing
at 20 to 30 degrees. It is expected to go online later this year. The platform
is expected to produce 250,000 barrels per day.

Fortune’s Global 500 is topped by: Wal-Mart, BP, ExxonMobil, Royal
Dutch, and General Motors. Position is determined by total revenue the prior
year. View the complete list here.

      

Bank of America upgraded Dreamworks
(
DWA |
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Biomet
(
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Colgate
(
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PowerRating) is selling its U.S. laundry brands for $60 million and
will repatriate in $800 million in Q3, resulting in a one-time $35 million
charge.

Sirius
(
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PowerRating) was downgraded at UBS to neutral from buy.

The Bank of New York [BK|BK raised its dividend to 0.21 from 0.20 and
authorized the repurchase of up to 20 million shares.