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DAILY EARNINGS

Comcast, Dow, GM Net Soar; Eli Lilly, Qualcomm Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 1:01 PM ET July 23 2015

12:30 AM New York – 3M second-quarter net rose 2% to $1.3 billion. American Express second-quarter net declined 5% to $1.4 billion. Comcast second-quarter net jumped 8% to $2.1 billion. Dow Chemical second-quarter net surged 28% to $1.1 billion. GM second-quarter net surged more than four-fold to $1.1 billion. Qualcomm third-quarter net tumbled 47% to $1.2 billion.

Tollbooth Index decreased 0.4% or 42.62 to 10,819.14.

Earnings Review

3M Co (MMM), the industrial conglomerates reported sales in the second-quarter ending in June declined 5% to $7.7 billion from a year ago period.

Net income in the quarter rose 2.4% to $1.30 billion or $2.02 per diluted share compared to $1.27 billion or $1.91 from the same quarter last year.

ABB Ltd (ABB), the Switzerland-based power and automation technology provider said revenues in the second-quarter ending in June plunged 10% to $9.17 billion from a year ago period.

Net income in the quarter declined 8% to $588 million or 26 cents per diluted share compared to $636 million or 28 cents from the same quarter last year.

American Express Company (AXP), the credit card payment services provider total revenues in the in the second-quarter ending in June fell 4% to $8.28 billion from a year ago period.

Net income in the quarter slumped 5% to $1.44 billion or $1.42 per diluted share compared to $152 billion or $1.43 from the same quarter last year.

Boston Scientific Corporation (BSX), the medical devices maker said net sales in the second-quarter ending in June decreased 2% to $1.84 billion from a year ago period.

Net income in the quarter soared to $102 million or 8 cents per diluted share compared to $4 million or breakeven from the same quarter last year.

Comcast Corporation (CMCSA), the media and cable services provider reported revenues in the second-quarter ending in June climbed 11.3% to $18.2 billion from a year ago period.

Net income in the quarter jumped 7.5% to $2.14 billion or 84 cents per diluted share compared to $1.99 billion or 76 cents from the same quarter last year.

Deluxe Corporation (DLX), the payment solutions provider said revenues in the second-quarter ending in June advanced 7.5% to $435.9 million from a year ago period.

Net income in the quarter climbed 12% to $56.1 million or $1.11 per diluted share compared to $50.1 million or 99 cents from the same quarter last year.

Dow Chemical Co (DOW), the diversified chemicals reported revenues in the second-quarter ending in June soared 13.7% to $12.88 billion from a year ago period.

Net income in the quarter surged 28.1% to $1.13 billion or 97 cents per diluted share compared to $882 million or 73 cents from the same quarter last year.

Chief Executive Officer Andrew Liveris said that the company is interested in acquiring Switzerland-based pesticide business of Syngenta AG.

Syngenta has already rejected Monsanto’s “unsolicited” offer worth $45 billion and refused to negotiate.

Eli Lilly and Company (LLY), the pharmaceutical products maker stated net revenues in the second-quarter ending in June rose 1% to $4.98 billion from a year ago period.

Net income in the quarter declined 18% to $600.8 million or 56 cents per diluted share compared to $733.5 million or 68 cents from the same quarter last year.

General Motors Company (GM), the passenger car maker reported net revenues in the second-quarter ending in June fell 3.5% to $38.2 billion from a year ago period.

Net income in the quarter surged more than four-fold to $1.1 billion or 67 cents per diluted share compared to $0.2 billion or 11 cents from the same quarter last year.

Qualcomm, Inc (QCOM), the digital communications products provider reported revenue in the third-quarter ending in June plunged 14% to $5.83 billion from a year ago period.

Net income in the quarter tumbled 47.3% to $1.18 billion or 73 cents per diluted share compared to $2.24 billion or $1.31 from the same quarter last year.

The company forecasted revenues for the fourth-quarter in the range of $4.7 billion to $5.7 billion and earnings per share between 75 cents and 95 cents.

For the year, Qualcomm lowered revenues forecast to between $24.5 billion and $25.5 billion and earnings per share in the range of $4.50 to $4.70 from earlier estimated revenues range of $25 billion to $27 billion and earnings per share between $4.60 and $5.
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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