10:45 AM New York – Amazon first quarter net declined 35% to $130 million. Cerner first quarter net soared 37% to $88.7 million. Ford first quarter net plunged 45% to $1.40 billion. International Paper first quarter net tumbled 47% to $188 million. Merck & Co. first quarter net surged 67% to $1.7 billion. V.F.Corp. quarterly plunged 45% to $215 million.

Earnings Review

Amazon.com, Inc. (AMZN), the online retailer reported first quarter net sales soared 34% to $13.18 billion from $9.86 billion in the same quarter last year. Net income in the quarter declined 35% to $130 million or 28 cents per diluted share compared to $201 million or 44 cents per share in the year ago earlier.

Sales at Kindle stores boost revenue and Amazon expects second quarter net sales in between of $11.9 billion and $13.3 billion.

Chevron Corporation (CVX), the integrated energy company first quarter total revenues rose 0.6% to $60.70 billion from $60.34 billion in the year ago quarter. Net income in the quarter rose 4.2% to $6.47 billion or $3.27 per share compared to $6.21 billion or $3.09 per share the prior year quarter.

Cerner Corporation (CERN), the healthcare devices supplier reported first quarter total revenues surged 30% to $641.2 million from $491.7 million in the same quarter last year. Net earnings in the quarter soared 37% to $88.7 million or 51 cents per diluted share compared to $64.6 million or 37 cents per share in the year ago period.

Bookings in the first quarter increased 24% to $652.3 million an all-time high for a first quarter compared to year ago period.

Ford Motor Company (F), the automaker reported first quarter revenues slid 2.1% to $32.4 billion from $33.1 billion last year. Net income in the quarter plunged 45% to $1.40 billion or 35 cents per diluted share compared to net income of $2.55 billion or 61 cents per share a year ago quarter.

International Paper Company (IP), the packaging company reported first quarter net sales grew 4% to $6.66 billion from $6.39 billion in the same quarter last year. Net income in the quarter tumbled 47% to $188 million or 43 cents per diluted share compared to $354 million or 81 cents per share in the year ago earlier.

Merck & Co., Inc. (MRK), the health care company reported first quarter net sales rose 1% to $11.73 billion from $11.58 billion in the same quarter last year. Net income in the quarter surged 67% to $1.74 billion or 56 cents per diluted share compared to $1.04 billion or 34 cents per share in the year ago earlier.

Merck reiterated its full year earnings per share between $2.04 and $2.30 and revenues near last year’s level.

Samsung Electronics Co., Ltd., the South Korean conglomerate reported first quarter total sales increased 22.40% to 45.27 trillion won from 36.99 trillion won last year. Net profit in the quarter surged 81% to 5.05 trillion won from 2.78 trillion won in the prior-year quarter.

Starbucks Corporation (SBUX), the specialty coffee retailer reported second quarter total revenues increased 15% to $3.2 billion from $2.8 billion in the same quarter last year. Global comparable store sales increased 7%. Net income in the quarter increased 18.5% to $309.9 million or 40 cents per diluted share compared to $261.6 million or 34 cents per share in the year ago.

The company raised expectation for earnings per share to a range of $1.81 to $1.84 representing 19% to 21% growth from a year ago.

The Procter & Gamble Company (PG), the consumer products maker reported third quarter net sales rose 2% to $20.2 billion from $19.9 billion in the same quarter last year. Net income in the quarter slumped 16% to $2.41 billion or 82 cents per diluted share compared to $2.87 billion or 96 cents per share in the year ago.

For fiscal 2012 net sales expected to increase 4% and diluted net earnings per share to be in the range of $3.63 to $3.74.

In February the company agreed to divest its snacks business to The Kellogg Company and the transaction is expected to close by the end of current fiscal year.

V.F. Corporation (VFC), the apparel maker reported first quarter total revenues surged 31% to $2.56 billion from $1.96 billion last year. Net income in the quarter plunged 45% to $215.2 million or $1.91 per diluted share compared to $200.7 million or $1.82 per share a year ago earlier.

Timberland adds $356 million to revenues and international revenues surged 48% in the quarter with 33 percentage points of the growth attributable to Timberland.

Ventas, Inc. (VTR), the real estate investment company reported first quarter total revenues soared 114% to $573.7 million from $268.4 million last year. Net income in the quarter surged 85% to $90.6 million or 31 cents per diluted share compared to $49.0 million or 30 cents per share a year ago period.