Apple, in a nod to restive shareholders, added $30 billion to its stock-buyback plan, raised its dividend about 8% and declared a 7-for-1 stock split, as it reported strong iPhone sales that defied expectations of a slowdown.
Eli Lilly & Co. continued to feel the strain of patent expirations for some of its bigger-selling drugs in the first quarter as profit fell 53% and the company lowered its earnings outlook for the year.
Aetna said its first-quarter net income jumped 36% amid higher membership and revenue thanks to its acquisition last year of Coventry Health Care. The health insurer raised its full-year earnings forecast.
Time Warner Cable said its first-quarter profit jumped 19% as the pay-TV and Internet provider logged growth in high-speed data and business services revenue, while adding to its overall residential subscriptions.
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