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

Microsoft Net Swings to Profit, Abbott, Morgan Stanley Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 7:40 AM ET July 20 2016

12:00 PM New York Abbott second-quarter net plunged 22% to $615 million. Halliburton second-quarter net swung to a loss of $3.2 billion. Illinois Tool second-quarter net jumped 9% to $525 million. Microsoft fourth-quarter net swung to profit $3.1 billion. Morgan Stanley second-quarter net tumbled 11% to $1.6 billion.

Tollbooth Index increased 66.91 or 0.6% to 10,965.

Earnings Review

Abbott Laboratories Inc (ABT), the healthcare products maker said revenues in the second-quarter ending in June rose 3.2% from a year ago to $5.3 billion.

Net income in the quarter plunged 21.5% to $615 million or 41 cents per diluted share compared to $784 million or 52 cents per share from the same quarter last year.

Halliburton Company (HAL), the oil and gas services provider reported total revenues in the second-quarter ending in June plummeted 35.1% from a year ago to $3.84 billion.

Net in the quarter swung to a loss of $3.2 billion or $3.73 per diluted share compared to profit of $54 million or 6 cents per share from the same quarter last year.

Illinois Tool Works Inc (ITW), the industrial products maker stated total revenues in the second-quarter ending in June edged down 0.1% from a year ago to $3.4 billion.

Net income in the quarter jumped 9.4% to $525 million or $1.46 per diluted share compared to $480 million or $1.30 per share from the same quarter last year.

In the third quarter, the company estimated diluted earnings per share in the range of $1.42 to $1.52 and revenue to increase between 1% and 3%.

Illinois Tool forecasted diluted earnings per share in the year to soar at least 9% to $5.50 to $5.70.

Microsoft Corporation (MSFT), the software developer said revenues in the fourth-quarter ending in June declined 7.1% from a year ago to $20.61 billion.

Net income on GAAP basis in the quarter swung to profit of $3.12 billion or 39 cents per diluted share compared to loss of $3.2 billion or 40 cents per share from the same quarter last year.

For the fiscal year, revenues declined to $85 billion from $93.5 billion in 2015 but earnings rose to $16.8 billion from $12.2 billion.

Fiscal year earnings per share increased to $2.10 from $1.48 in the year ago period.

Morgan Stanley (MS), the investment bank and brokerage company reported revenues in the second-quarter ending in June plunged 8.2% from a year ago to $8.9 billion.

Net income in the quarter tumbled 11.1% to $1.6 billion or 75 cents per diluted share compared to $1.8 billion or 85 cents per share from the same quarter last year.

St. Jude Medical, Inc (STJ), the cardiovascular medical devices maker stated net sales in the second-quarter ending in June soared 11% from a year ago to $1.56 billion.

Net income in the quarter declined 17.9% to $238 million or 83 cents per diluted share compared to $290 million or $1.02 per share from the same quarter last year.

United Continental Holdings Inc (UAL), the airline operator said revenues in the second-quarter ending in June slumped 5.2% from a year ago to $9.4 billion.

Net income in the quarter tumbled 50.7% to $588 million or $1.78 per diluted share compared to $1.2 billion or $3.14 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