S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

Apple, Boeing Net soar; Glaxo, Microsoft, PepsiCo Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 7:36 AM ET July 23 2014

10:45 AM New York Apple third-quarter net surged 12% to $7.8 billion. Boeing second-quarter net soared 52% to $1.7 billion. GlaxoSmithKline second-quarter net plummeted 29% to $1.2 billion. Microsoft fourth-quarter net dropped 7% to $4.6 billion. PepsiCo second-quarter net fell 2% to $1.98 billion.

Tollbooth Index rose 0.2% or 16.48 to 9,555.74.

Earnings Review

Apple Inc (AAPL), the electronics and wireless gadgets maker reported revenue in the third-quarter ending on June 28 jumped 5.9% to $37.43 billion from a year ago.

Net income in the quarter surged 12.3% to $7.75 billion or $1.28 a diluted share compared to $6.90 billion or $1.07 from a year earlier.

Sales and revenue in the quarter from iPad business dropped 9% to 13.3 million units or $5.89 billion and sales and revenue from iPod business tumbled 36% to 2.9 million units or $442 million from a year ago.

Luca Maestri, chief financial officer said Apple has completed $74 billion of $130 billion capital return program to shareholders with six quarters remaining to its complete the full plan.

Apple forecasted revenue in the fourth-quarter between $37 billion and $40 billion and gross margin in the range of 37% to 38%.

The Boeing Company (BA), the aerospace company reported revenue in the second-quarter ending in June rose 1% to $22.04 billion from a year ago period.

Net earnings in the quarter soared 52% to $1.65 billion or $2.24 a diluted share compared to $1.09 billion or $1.41 from a year earlier.

Boeing said commercial airplanes booked 264 net orders during the quarter. Backlog remains strong with over 5,200 airplanes valued at a record $377 billion and backlog in the defense, space and security segment was $63 billion of which 36% orders were with international customers.

Biogen Idec Inc (BIIB), the biotechnology company reported total revenue in the second-quarter ending in June climbed 40% to $2.42 billion from a year earlier.

Net income in the quarter jumped 46% to $714.5 million or $3.01 a diluted share compared to $490.7 million or $2.06 from a year earlier.

The Dow Chemical Company (DOW), the diversified chemicals maker stated net sales in the second-quarter ending in June increased 2.3% to $14.92 billion from a year ago.

Net income in the quarter tumbled 62.3% to $882 million or 73 cents a diluted share compared to $2.34 billion or $1.87 from a year earlier.

GlaxoSmithKline Plc (GSK),| the healthcare group reported revenue in the second-quarter ending in June dropped 8.3% to $9.34 billion from a year ago.

Net income in the quarter plummeted 29.3% to $1.18 billion or 23 cents a diluted share compared to $1.67 billion or 33 cents from a year earlier.

General Dynamics Corporation (GD), the aerospace and defense products maker said revenue in the second-quarter ending in June dropped 4.6% to $7.47 billion from a year ago.

Net income in the quarter plunged 155% to $541 million or $1.61 a diluted share compared to $640 million or $1.82 from a year earlier.

The company added total potential contract value the sum of all backlog components in the quarter was $99.5 billion.

Microsoft Corporation (MSFT), the software developer reported revenue in the fourth-quarter ending in June climbed 18% to $23.38 billion from a year ago period.

Net income in the quarter dropped 7% to $4.61 billion or 55 cents a diluted share compared to $4.96 billion or 59 cents from a year earlier.

PepsiCo, Inc (PEP), the food and beverage company reported revenue in the second-quarter ending on June 14 edged up 0.5% to $16.89 billion from a year ago period.

Net income in the quarter fell 2% to $1.98 billion or $1.29 a diluted share compared to $2.01 billion or $1.28 from a year earlier.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc