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DAILY EARNINGS

Abbott, Yahoo Net Plunge; Bank of America Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 12:40 PM ET April 16 2014

10:45 AM New York Abbott first-quarter net tumbled 31% to $375 million. Bank of America first-quarter net swung to a loss $514 million. Grainger first-quarter net rose 2% to $217 million. Intel first-quarter net dropped 4% to $1.9 billion. Yahoo first-quarter net tumbled 20% to $312 million.

Earnings Review

Abbott Laboratories (ABT), the health care products maker reported net sales in the first-quarter ending in March dropped 2.5% to $5.24 billion.

Net income in the quarter tumbled 31.1% to $375 million or 24 cents a diluted share compared to $544 million or $29.4.

Bank of America Corporation (BAC), the bank reported total revenue in the first-quarter ending in March slipped 2.6% to $22.57 billion.

Net in the quarter swung to a loss $514 million or 5 cents a diluted share compared to a profit of $1.11 billion or 10 cents.

W.W. Grainger, Inc (GWW), the industrial machinery stated revenue in the first-quarter ending in March jumped 5% to $2.4 billion.

Net income in the quarter rose 2% to $217 million or $3.07 a diluted share compared to $212 million or $2.94.

Intel Corporation (INTC), the microprocessor and chipset maker said revenue in the first-quarter ending in March rose 1.4% to $12.8 billion.

Net income in the quarter dropped 4.4% to $1.9 billion or 38 cents a diluted share compared to $2.04 billion or 40 cents.

Yahoo! Inc (YHOO), the portal operator said revenue in the first-quarter ending in March fell 1% to $1.13 billion.

Net income in the quarter tumbled 20.2% to $311.6 million or 29 cents a diluted share compared to $390.3 million or 35 cents.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc