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DAILY EARNINGS

Aetna, Pfizer Net Jump; Sprint Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 12:01 PM ET July 30 2013

10:45 AM New York Aetna second quarter net soared 17.1% to $536 million. Coach second quarter net declined 12% to $221.3 million. Pfizer second quarter net surged more than four-fold to $14.09 billion. Sprint second quarter net loss widened to $1.60 billion. Western Union second quarter net plunged 27% to $198.6 million.

Earnings Review

Aetna Inc. (AET) slid 28 cents to $63.11 after the healthcare company reported operating revenue in the second quarter ending in June surged 31% to $11.5 billion. Net income in the quarter soared 17.1% to $536 million or $1.49 a diluted share compared to $457.6 million or $1.32.

For the year, the company expects operating earnings in the range of $5.80 to $5.90.

Coach, Inc (COH) plunged 8.6% or $4.96 to $52.91 after the gifts retailer stated net sales in the fourth quarter ending on June 29 advanced 6% to $1.22 billion. Net income in the quarter declined 12% to $221.3 million or 78 cents a diluted share compared to $251.4 million or 86 cents.

The company added gross profit in the quarter rose 6% to $887.4 million and operating income declined 6% to $317.8 million.

Chrysler, the automaker reported net revenue in the second quarter climbed 7% to $18 billion. Net income in the quarter soared 16.3% to $507 million or $1.49 a diluted share compared to $436 million or $1.32.

The company lowered its net income forecasts for the year to $1.7 billion to $2.2 billion, from a previous forecast of $2.2 billion and trimmed vehicle shipments to 2.6 million. Net revenue for the year unchanged between $72 billion and $75 billion.

Cobalt International Energy, Inc (CIE) rose 6 cents to $28.32 after the exploration and production company said net loss in the second quarter narrowed to $79 million or 19 cents a diluted share compared to $141 million or 35 cents.

Fidelity National Information Services, Inc (FIS) dropped 2.8% or $1.24 to $43.04 after the financial service provider reported revenue in the second quarter ending in June gained 4% to $1.51 billion. Net earnings in the quarter plunged 30% to $104.8 million or 36 cents a diluted share compared to $150.6 million or 50 cents.

For the year, Fidelity expects earnings per share from continuing operations between $2.77 and $2.87.

National Oilwell Varco, Inc. (NOV) slumped 2.2% or $1.58 to $69.56 after the drilling equipment provider stated revenues in the second quarter ending in June surged 18% to $5.60 billion. Net income in the quarter gained 6% to $531 million or $1.24 a diluted share compared to $502 million or $1.17.

Pfizer Inc. (PFE) gained 28 cents to $29.82 after the biopharmaceutical company reported revenue in the second quarter dropped 7% to $12.97 billion. Net income in the quarter surged more than four-fold to $14.09 billion or $1.98 a diluted share compared to $3.25 billion or 43 cents.

Separately, the company plans to separate its commercial operations into three business segments, two of which will include innovative business and a third will include the value business. The changes will be implemented in January 2014.

Sprint Nextel Corporation (S) jumped 2.4% or 14 cents to $5.88 after the communication company said net operating revenues in the second quarter ending in June nearly flat at $8.88 billion. Net loss in the quarter widened to $1.60 billion or 53 cents a diluted share compared to $1.37 billion or 46 cents.

The Western Union Company (WU) soared 8.6% or $1.46 to $18.44 after the payment service provider total revenues in the second quarter ending in June fell 3% $1.39 billion. Net income in the quarter plunged 27% to $198.6 million or 36 cents a diluted share compared to $271.2 million or 44 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