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DAILY EARNINGS

Morgan Stanley, UnitedHealth Net Soar; Progress Software Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 1:51 AM ET January 17 2017

12:00 PM New York Bank Of The Ozarks fourth-quarter net soared 71% to $88 million. Comerica fourth-quarter net surged 41% to $164 million. Morgan Stanley fourth-quarter net doubled to $1.5 billion. Progress Software fourth-quarter net loss widened to $74 million. UnitedHealth fourth-quarter net surged 46% to $1.9 billion.

Tollbooth Index gained 49.89 or 0.4% to 11,386.17.

Earnings Review

Bank Of The Ozarks Inc (OZRK), the banking services provider stated net interest income in the fourth-quarter ending in December surged 82.9% from a year ago to $194.8 million.

Net income in the quarter soared 70.6% to $87.8 million or 72 cents per diluted share compared to the $51.5 million or 57 cents per share in the same quarter last year.

Comerica Inc (CMA), the financial services provider said net interest income in the fourth-quarter ending in December jumped 5.1% from a year ago to $455 million.

Net income in the quarter surged 41.4% to $164 million or 92 cents per diluted share compared to the $116 million or 64 cents per share in the same quarter last year.

The lender said provision for credit losses in the quarter increased to $35 million compared to the $16 million in the third quarter but fell from $60 million in the same period a year ago.

Morgan Stanley (MS), the investment banking and brokerage services provider reported revenues in the fourth-quarter ending in December jumped 16.9% from a year ago to $9 billion.

Net income in the quarter doubled to $1.5 billion or 81 cents per diluted share compared to the $753 million or 43 cents per share in the same quarter last year.

Morgan Stanley said fixed income and trading revenues jumped $1.5 billion from $550 million and sales and trading revenues soared 39% to $3.2 billion from a year ago.

""We are optimistic about opportunities in 2017 and beyond,"" chairman and chief executive officer James P. Gorman said.

Progress Software Corporation (PRGS), the software developer said revenues in the fourth-quarter ending in December advanced 4% from a year ago to $117.7 million.

Net loss in the quarter widened to $73.8 million or $1.52 per diluted share compared to the $9.5 million or 19 cents per share in the same quarter last year.

UnitedHealth Group Inc (UNH), the diversified healthcare services provider reported revenues in the fourth-quarter ending in December rose 2.6% from a year ago to $47.5 billion.

Net income in the quarter surged 46.1% to $1.9 billion or $1.96 per diluted share compared to the $1.3 million or $1.26 per share in the same quarter last year.

The healthcare services provider reaffirmed revenues in fiscal 2017 in the range of $197 billion to $199 billion and earnings per share between $8.75 and $9.05 and cash flows in the range of $11.5 billion to $12 billion.
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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