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

Cognizant, Hasbro Net Soar, Loews Net Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 2:33 AM ET February 08 2016

12:00 PM New York Cognizant fourth-quarter net soared 17% to $423 million. Hasbro fourth-quarter net jumped 4% to $176 million. Loews fourth-quarter net swung to a loss of $201 million. Lennox International fourth-quarter net tumbled 75% to $11 million. Mercury General fourth-quarter net swung to profit $23 million.

Tollbooth Index dropped 210.76 or 2.2% to 9,568.76.

Earnings Review

Cognizant Technology Solutions Corp (CTSH), the information technology provider reported revenues in the fourth-quarter ending in December surged 17.9% from a year ago to $3.23 billion.

Net income in the quarter soared 16.7% to $423.4 million or 69 cents per diluted share compared to $362.9 million or 59 cents per share from the same quarter last year.

Cognizant forecasted revenues in the first-quarter in the range of $3.18 billion to $3.24 billion and non-GAAP diluted earnings per share between 78 cents and 80 cents.

For the year, the company estimated revenues in the range of $13.65 billion to $14.20 billion and non-GAAP diluted earnings per share between $3.32 and $3.44.

CTS Corporation (CTS), the electronic components revenues in the fourth-quarter ending in December declined 7.1% from a year ago to $93.3 million.

Net in the quarter swung to profit $13.7 million or 42 cents per diluted share compared to profit of $7 million or 21 cents per share from the same quarter last year.

Hasbro, Inc (HAS), the toys and entertainment products maker reported revenues in the fourth-quarter ending in December soared 13% from a year ago at $1.47 billion.

Net income in the quarter jumped 3.5% to $175.8 million or $1.39 per diluted share compared to $169.9 million or $1.34 per share from the same quarter last year.

Loews Corporation (L), the property and casualty insurance provider reported revenues in the fourth-quarter ending in December slumped 5.4% from a year ago to $3.33 billion.

Net in the quarter swung to a loss of $201 million or 58 cents per diluted share compared to profit of $208 million or 55 cents per share from the same quarter last year.

Lennox International Inc (LII), the climate control solutions provider stated revenues in the fourth-quarter ending in December rose 3% from a year ago to $834.1 million.

Net income in the quarter tumbled 74.9% to $11.2 million or 25 cents per diluted share compared to $44.6 million or 96 cents per share from the same quarter last year.

Mercury General Corporation (MCY), the automobile personal insurer company said net premium written in the fourth-quarter ending in December jumped 7% from a year ago to $746.4 million.

Net in the quarter swung to profit $23.4 million or 42 cents per diluted share compared to profit of $20.9 million or 38 cents per share from the same quarter last year.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc