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DAILY EARNINGS

BlackRock, CSX, Intel Net Jump; KeyCorp Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 1:21 PM ET October 15 2014

12:30 AM New York – Bank of America third-quarter net swung to a loss of $70 million. BlackRock third-quarter net surged 26% to $917 million. Charles Schwab third-quarter net jumped 11% to $321 million. CSX third-quarter net soared 12% to $509 million. Intel third-quarter net surged 12% to $3.3 billion.

Tollbooth Index dropped 1.3% or 117.34 to 8,832.54.

Earnings Review

AbbVie Inc (ABBV), the research-based pharmaceuticals company reconsiders its recommendation to vote in favor of the $54.7 billion or £32 billion merger with U.K.-based Shire Plc after changing in the U.S. tax regulations.

The company’s board will meet on next Monday to decide to withdraw or modify its recommendation on deal, unless Shire agrees to waive the notice.

Shares of Shire Plc tumbled 27.5% to 3,725 pence.

Bank of America Corp (BAC), the bank reported total revenue in the third-quarter ending in September dropped 4.5% to $21.2 billion from a year ago period.

Net in the quarter swung to a loss of $70 million or 1 cent a diluted share compared to profit of $2.22 billion or 20 cents from a same quarter last year.

BlackRock, Inc (BLK), the investment company said total revenue in the third-quarter ending in September soared 15% to $2.85 billion from a year ago period.

Net income in the quarter surged 26% to $917 million or $5.37 a diluted share compared to $730 million or $4.21 from a same quarter last year.

Charles Schwab Corp (SCHW), the investment bank reported net revenue in the third-quarter ending in September climbed 13% to $1.55 billion from a year ago period.

Net income in the quarter jumped 11% to $321 million or 24 cents a diluted share compared to $290 million or 22 cents from a same quarter last year.

CSX Corporation (CSX), the transportation service provider reported revenue in the third-quarter ending on September 26 jumped 8% to $3.22 billion from a year ago period.

Net earnings in the quarter soared 12% to $509 million or 51 cents a diluted share compared to $455 billion or 45 cents from a same quarter last year.

Intel Corporation (INTC), the microprocessor and chipset maker reported revenue in the third-quarter ending in September soared 8% to $14.6 billion from a year ago period.

Net income in the quarter surged 12% to $3.3 billion or 66 cents a diluted share compared to $3 billion or 58 cents from a same quarter last year.

KeyCorp (KEY), the financial service provider said total revenue in the third-quarter ending in September declined 4% to $998 million from a year ago period.

Net income in the quarter tumbled 23.3% to $204 million or 23 cents a diluted share compared to $266 million or 29 cents from a same quarter last year.

Qualcomm Inc (QCOM), the communication products maker agreed to acquire U.K.-based CSR plc a Bluetooth and GPS chipmaker for $2.5 billion or £1.6 billion in cash. The transaction is expected to close by the end of summer in next year.

Earlier, CSR rejected offer from semiconductor company Microchip Technology Inc.
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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