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Market Update

AOL, Biogen, NRG, Tribune Jump; HRG, NVIDIA Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:34 PM ET May 08 2015

12:30 PM New York AOL net plunged 25% but revenues climbed 7%. CBS net declined 16%. Consolidated Edison net rose 3%. HRG net loss widened. McDonald''s U.S. comparable sales in April dropped 2.3%. NVIDIA net fell 2%. NRG Energy net loss widened.

Tollbooth Index climbed 1.4% or 143.77 to 10,771.94.

Earnings Review

AOL, Inc (AOL) surged 11.3% or $4.44 to $43.83 after the online consumer products and services said total revenues in the first-quarter ending in March climbed 7.2% to $625.1 million form a year ago period.

Net income in the quarter plunged 24.7% to $7 million or 9 cents a diluted share compared to $9.3 million or 11 cents from the same quarter last year.

Biogen Inc (BIIB) climbed 3.4% or $13.07 to $396.36 after the biotechnology company announced a $5 billion share buyback plan with no termination date.

CBS Corporation (CBS) slipped 1.5% or 95 cents to $60.22 after the broadcasting company reported revenues in the first-quarter ending in March slipped 1.9% to $3.50 billion form a year ago period.

Net income in the quarter declined 15.8% to $394 million or 79 cents per diluted share compared to $468 million or 80 cents from the same quarter last year.

Consolidated Edison, Inc (ED) gained 44 cents to $61.68 after the energy services provider said revenues in the first-quarter ending in March declined 4.5% to $3.62 billion form a year ago period.

Net income in the quarter jumped 2.5% to $370 million or $1.26 per diluted share compared to $361 million or $1.23 from the same quarter last year.

HRG Group Inc (HRG) dropped 3.1% or 39 cents to $12.01 after the insurance company stated revenues in the second-quarter ending in March increased 2.2% to $1.37 billion form a year ago period.

Net loss in the quarter widened to $228.3 million or $1.16 per diluted share compared to $87.6 million or 63 cents from the same quarter last year.

McDonald''s Corporation (MCD) gained 1.9% or $1.84 to $98.62 after the fast food restaurant network operator said domestic comparable sales in April dropped 2.3% but comparable sales in Europe rose 1% and comparable sales in Asia, Pacific, Middle East and Africa declined 3.8%.

McDonald''s reported global comparable sales in the month decreased 0.6% and system-wide sales plunged 8.8%.

NVIDIA Corporation (NVDA) plummeted 6% or $1.35 to $21.14 after the gaming applications developer reported stated revenues in the first-quarter ending in March jumped 4% to $1.15 billion form a year ago period.

Net income in the quarter slipped 2.2% to $134 million compared to $137 million and per diluted earnings per were flat at 24 cents from the same quarter last year.

NRG Energy Inc (NRG) soared 7.1% or $1.78 to $26.75 after the electricity producer said revenues in the first-quarter ending in March climbed 9.7% to $3.83 billion form a year ago period.

Net loss in the quarter widened to $125 million or 37 cents per diluted share compared to $58 million or 18 cents from the same quarter last year.

Tribune Publishing Co (TPUB) jumped 4.7% or 75 cents to $16.85 after the newspaper publishing company agreed to acquire San Diego Union-Tribune and a group of nine weeklies and digital properties in Southern California for $85 million, including $73 million in cash and $12 million in common stock.

The transaction is expected to close by the end of June.

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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