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DAILY EARNINGS

Boeing, Biogen, Yahoo! Net Jumps; ABB Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 12:37 PM ET October 22 2014

12:30 AM New York ABB third-quarter net fell 12% to $734 million. Boeing third-quarter net soared 18% to $1.4 billion. Dow Chemical third-quarter net surged 43% to $852 million. General Dynamics third-quarter net jumped 7% to $696 million. Yahoo! third-quarter net surged 128.5% to $6.77 billion.

Tollbooth Index increased 0.6% or 59.82 to 9,261.04.

Earnings Review

ABB Ltd (ABB), the electrical engineering products maker reported revenue in the third-quarter ending in September declined 7% to $9.82 billion from a year ago period.

Net income in the quarter plunged 12% to $734 million or 32 cents a diluted share compared to $835 million or 36 cents from a same quarter last year.

The Boeing Company (BA), the aerospace company said revenue in the third-quarter ending in September climbed 7% to $23.78 billion from a year ago period.

Net earnings in the quarter surged 18% to $1.36 billion or $1.86 a diluted share compared to $1.16 billion or $1.51 from a same quarter last year.

For 2014, the company lifted its core earnings per share forecast between $8.10 and $8.30 and revenue for the year remained unchanged at $87.5 billion to $90.5 billion.

Biogen Idec Inc (BIIB), the biotechnology company reported total revenue in the third-quarter ending in September soared 37% to $2.51 billion from a year ago period.

Net income in the quarter climbed 75.7% to $856.9 million or $3.62 a diluted share compared to $487.6 million or $2.05 from a same quarter last year.

The Dow Chemical Company (DOW), the chemical company reported net sales in the third-quarter ending in September jumped 5% to $14.41 billion from a year ago period.

Net income in the quarter surged 43% to $852 million or 71 cents a diluted share compared to $594 million or 49 cents from a year ago period.

EMC Corporation (EMC), the information technology provider reported revenue in the third-quarter ending in September climbed 8.8% to $6.03 billion from a year ago period.

Net income in the quarter edged up 0.2% to $587 million or 28 cents a diluted share compared to $586 million or 27 cents from a same quarter last year.

Separately, the company agreed to acquire majority stake in VCE from Cisco Systems, Inc. Cisco will keep its minor stake in the VCE business that sells high-end data centre equipment. Presently it holds about 35% stake.

General Dynamics Corporation (GD), the aerospace and defense products maker said revenue in the third-quarter ending in September nearly flat to $7.75 billion from a year ago period.

Net earnings in the quarter climbed 6.9% to $696 million or $2.06 a diluted share compared to $651 million or $1.84 from last year same period.

Lockheed Martin Corporation (LMT), the security and aerospace products maker reported net sales in the third-quarter ending on September 28 fell 2.1% to $11.1 billion from a year ago period.

Net income in the quarter rose 1.7% to $888 million or $2.76 a diluted share compared to $873 million or $2.66 from a same quarter last year.

Thermo Fisher Scientific Inc (TMO), the laboratory equipment, software service provider reported revenue in the third-quarter ending on September 27 jumped 31% to $4.17 billion from a year ago period.

Net income in the quarter soared 11.3% to $471.6 million or $1.17 a diluted share compared to $317.6 million or 86 cents from a same quarter last year.

Yahoo! Inc. (YHOO), the search engine service provider stated revenue in the third-quarter ending in September increased 1% to $1.15 billion from a year ago period.

Net earnings in the quarter surged 128.5% to $6.77 billion or $6.70 a diluted share compared to $296.7 million or 28 cents from a year ago period.
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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