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DAILY EARNINGS

Halliburton, VF Corp Net Soar; IBM Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 10:31 AM ET October 20 2014

12:30 AM New York Genuine Parts third-quarter net jumped 10% to $191 million. Halliburton third-quarter net surged 70% to $1.2 billion. IBM third-quarter net tumbled 99.6% to $18 million. Valeant Pharma third-quarter net swung to profit $275 million. VF Corp third-quarter net jumped 8% to $470.5 million.

Tollbooth Index increased 0.6% or 50.80 to 8,962.42.

Earnings Review

Genuine Parts Company (GPC), the automobile parts distributor said sales in the third-quarter ending in September climbed 8% to $4 billion from a year ago period.

Net income in the quarter jumped 9.7% to $190.5 million or $1.24 a diluted share compared to $173.7 million or $1.12 from a same quarter last year.

Halliburton Company (HAL), the oilfield service provider stated total revenue in the third-quarter ending in September soared 8% to $8.70 billion from a year ago period.

Net income in the quarter surged 70% to $1.20 billion or $1.41 a diluted share compared to $706 million or 79 cents from a same quarter last year.

Hasbro, Inc (HAS), the entertainment products maker said net revenue in the third-quarter ending in September increased 7% to $1.47 billion from a year ago period.

Net income in the quarter soared 42.6% to $180.5 million or $1.40 a diluted share compared to $126.6 billion or 96 cents from a same quarter last year.

International Business Machines Corp (IBM), the information technology reported total revenue in the third-quarter ending in September declined 4% to $22.40 billion from a year ago period.

Net income in the quarter tumbled 99.6% to $18 million or 2 cents a diluted share compared to $4.04 billion or $3.68 from a same quarter last year.

The company said software revenue in the quarter slipped 2% to $5.7 billion and global financing revenue dropped 3% to $487 million.

The company reported revenue from the Americas slid 2% to $10.1 billion and from Europe, the Middle East and Africa also fell 2% to $7.2 billion. Revenues from the Asia Pacific revenue fell 9% to $5 billion.

In Brazil, Russia, India and China, revenue plunged 7%.

Valeant Pharmaceuticals Intl Inc (VRX), the pharmaceutical company said total revenue in the third-quarter ending in September surged 33% to $2.1 billion from a year ago period. Same-store sales in the quarter climbed 19%.

Net in the quarter swung to profit $275.4 million or 81 cents a diluted share compared to a loss of $973.2 million or $2.92 from a same quarter last year.

VF Corporation (VFC), the apparel and accessories maker reported revenue in the third-quarter ending in September jumped 7% to $3.5 billion from a year ago period. Same-store sales in the quarter climbed 19%.

Net income in the quarter jumped 8% to $470.5 million or $1.08 a diluted share compared to $433.8 million or 97 cents from a same quarter last year.

The company forecasted revenues for the year to jump 8% to $12.3 billion and earnings per share rose 2 cents to $3.08, an increase of 14% from a year ago.
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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