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DAILY EARNINGS

Marriott, Directv, Wal-Mart Net Plummet


Author: Mukesh Buch
ticker.com
Last Update: 4:25 AM ET February 20 2014

10:45 AM New York Actavis fourth-quarter net swung to a loss $148 million. Directv fourth-quarter net declined 14% to $810 million. Marriott Intl fourth-quarter net tumbled 17% to $151 million. Tesla Motors fourth-quarter net loss narrowed to $16 million. Wal-Mart fourth-quarter net plunged 21% to $4.43 billion.

Earnings Review

Actavis Plc, the Ireland-based pharmaceutical company said revenue in the fourth-quarter ending in December soared 59% to $2.78 billion.

Net in the quarter swung to a loss $148.4 million or 86 cents a diluted share compared to a profit of $28 million or 21 cents.

DirecTV (DTV) jumped 2.7% or $2 to $74.94 after the satellite TV service provider reported revenue in the fourth-quarter ending in December jumped 7% to $8.59 billion.

Net income in the quarter declined 14% to $810 million or $1.53 a diluted share compared to $942 million or $1.55.

DirecTV said subscribers in the United States in the year rose 0.8% to 20.25 million and in Latin America, customer base climbed 12% to 11.57 million but new customers in Latin America declined 65% to 231,000.

Hormel Foods Corp (HRL) gained 1.9% or 89 cents to $46.20 after the food processing company said revenue in the first-quarter ending on January 26 climbed 6% to $2.24 billion.

Net income in the quarter soared 18.2% to $153.3 million or 57 cents a diluted share compared to $129.7 million or 48 cents.

Marriott International Inc (MAR) fell 1.2% or 61 cents to $50.94 after the hotel operator stated total revenue in the fourth-quarter ending in December dropped 14% to $3.22 billion.

Net income in the quarter tumbled 17% to $151 million or 49 cents a diluted share compared to $181 million or 56 cents.

Tesla Motors Inc (TSLA) surged 8.4% or $16.23 to $209.88 after the electric vehicles maker said total revenue in the fourth-quarter ending in December doubled to $615.2 million.

Net loss in the quarter narrowed to $16.3 million or 13 cents a diluted share compared to $89.9 million or 79 cents.

Wal-Mart Stores, Inc (WMT) slipped 1.8% or $1.40 to $73.46 after the retailer reported total revenue in the fourth-quarter ending in January rose 1.5% to $129.7 billion. Comparable store sales in the quarter fell 0.4%.

Net income in the quarter plunged 21% to $4.43 billion or $1.36 a diluted share compared to $5.61 billion or $1.67.

Wal-Mart expects earnings per share from continuing operations first quarter fiscal 2015 to be between $1.10 and $1.20 and for the year in the range of $5.10 and $5.45.
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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