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DAILY EARNINGS

Morgan Stanley Net Tumbles; Halliburton Net Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 1:06 PM ET October 19 2015

12:30 AM New York Genuine Parts third-quarter net slipped 1% to $188 million. Halliburton third-quarter net swung to a loss of $54 million. Hasbro third-quarter net soared 15% to $208 million. Morgan Stanley third-quarter net tumbled 42% to $943 million. M&T Bank third-quarter net rose 2% to $280 million.

Tollbooth Index increased 36.66 or 0.4% to 10,653.99.

Earnings Review

Genuine Parts Company (GPC), the automotive parts distributor said revenues in the third-quarter ending in September fell 2% from a year ago to $3.92 billion.

Net income in the quarter slipped 1.3% to $188 million compared to $190.5 million and diluted earnings per share were flat at $1.24 from the same quarter last year.

Halliburton Company (HAL), the oil and gas services provider reported total revenues in the third-quarter ending in September slumped 5.7% from a year ago to $5.58 billion.

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

The company booked $257 million in asset write-offs and severance costs and $62 million recorded as acquisition-related costs for Baker Hughes.

Hasbro, Inc (HAS), the pre-school toy maker said revenues in the third-quarter ending in September were flat from a year ago to $1.47 billion.

Net income in the quarter soared 15% to $207.6 million or $1.64 per diluted share compared to $180.5 million or $1.40 from the same quarter last year.

Morgan Stanley (MS), the financial services provider reported revenues in the third-quarter ending in September declined 12.8% from a year ago to $7.77 billion.

Net income in the quarter tumbled 42.3% to $943 million or 48 cents per diluted share compared to $1.63 billion or 83 cents from the same quarter last year.

The company said revenues in the fixed income and commodities trading segment plunged 41% to $583 million and revenues in institutional securities business declined 14% to $3.90 billion and global wealth management segment slumped 4% $3.64 billion from a year ago period.

M&T Bank Corporation (MTB), the financial services provider stated net interest income in the third-quarter ending in September dropped 4% from a year ago to $770 million.

Net income in the quarter rose 2% to $280.4 million or $1.95 per diluted share compared to $275.3 million or $1.94 from the same quarter last year.
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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