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

Bristol-Myers, Valero Net Jump; Cummins, Coach Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 12:31 PM ET April 29 2014

10:45 AM New York Archer Daniels first-quarter net fell 0.7% to $267 million. Bristol-Myers first-quarter net surged 54% to $937 million. Cummins first-quarter net dropped 8% to $338 million. Merck first-quarter net declined 8% to $1.7 billion. Valero Energy first-quarter net climbed 27% to $828 million.

Earnings Review

Archer Daniels Midland Company (ADM), the food processing company reported sales in the first-quarter ending in March slipped 4.7% to $20.70 billion.

Net income in the quarter fell 0.7% to $267 million or 40 cents a diluted share compared to $269 million or 41 cents.

Bristol-Myers Squibb Co (BMY), the biopharmaceutical company stated revenue in the first-quarter ending in March slid 1% to $3.81 billion.

Net income in the quarter surged 53.9% to $937 million or 56 cents a diluted share compared to $609 million or 37 cents.

Separately, today the biopharmaceutical company said it has agreed to acquire iPierian, Inc. for $175 million in cash.

Cummins Inc (CMI), the power generation systems maker said revenue in the first-quarter ending in March climbed 12% to $4.41 billion.

Net income in the quarter declined 7.5% to $338 million or $1.83 a diluted share compared to $282 million or $1.49.

Coach Inc (COH), the handbags and accessories retailer stated net sales in the third-quarter ending on March 29 slumped 7.5% to $1.10 billion.

Net income in the quarter plunged 20.2% to $190.7 million or 68 cents a diluted share compared to $238.9 million or 84 cents.

Merck & Co., Inc. (MRK), the health care company reported sales in the first-quarter ending in March dropped 4% to $10.26 billion.

Net income in the quarter declined 7.5% to $1.71 billion or 57 cents a diluted share compared to $1.59 billion or 52 cents.

Rockwell Automation (ROK), the industrial automation power provider said total sales in the second-quarter ending in March jumped 5% to $1.60 billion.

Net income in the quarter rose 2.5% to $180.3 million or $1.28 a diluted share compared to $175.9 million or $1.24.

Valero Energy Corporation (VLO), the petroleum products refiner stated revenue in the first-quarter ending in March edged up 0.5% to $33.66 billion.

Net income in the quarter climbed 26.6% to $828 million or $1.54 a diluted share compared to $654 million or $1.18.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc