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Market Update

Abbott, Boeing Profit Climb; McDonald's, Coca-Cola, Yahoo! Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 1:01 PM ET April 22 2015

1:00 PM New York Abbott net surged. Amgen net soared 51% on 11% increase in revenues. Boeing profit climbed 39%. McDonald''s nettumbled 33% after revenues plunged 11%. Coca-Cola profit dropped 4%. Yahoo! Net plunged 93%. Yum! Brands net declined 9%.

Tollbooth Index gained 0.5% or 54.92 to 10,696.94.

Earnings Review

Abbott Laboratories (ABT) jumped 2.6% or $1.21 to $48.32 after the healthcare products maker said net sales in the first-quarter ending in March jumped 3% to $4.90 billion from a year ago period.

Net income in the quarter surged to $2.29 billion or $1.51 per diluted share compared to $375 million or 24 cents from the same quarter last year.

Amgen, Inc (AMGN) fell 6 cents to $168.40 after the biotechnology company reported total revenues in the first-quarter ending in March climbed 11.3% to $5.03 billion from a year ago period.

Net income in the quarter soared 51.4% to $1.62 billion or $2.11 per diluted share compared to $1.07 billion or $1.40 from the same quarter last year.

Amgen forecasted earnings per share for the year in the range of $9.35 to $9.65 and revenues between $20.9 billion and $21.3 billion compared to the earlier estimate for earnings per sharer of $9.05 to $9.40 and revenues in the range of $20.8 billion to $21.3 billion.

The Boeing Company (BA) dropped 1.8% or $2.69 to $150.64 after the aerospace company reported total revenues in the first-quarter ending in March jumped 8.2% to $22.15 billion from a year ago period.

Net income in the quarter climbed 38.9% to $1.34 billion or $1.87 per diluted share compared to $965 million or $1.28 from the same quarter last year.

Bank of New York Mellon Corp (BK) climbed 2.9% or $1.20 to $42.23 after the bank and asset manager said total revenues in the first-quarter ending in March advanced 6% to $3.85 billion from a year ago period.

Net income in the quarter soared 15.9% to $766 million or 67 cents per diluted share compared to $661 million or 57 cents from the same quarter last year.

McDonald''s Corporation (MCD) climbed 3.9% or $3.73 to $98.59 after the quick service restaurants operator reported revenues in the first-quarter ending in March plunged 11% to $5.96 billion from a year ago period.

Comparable store sales across all markets in the quarter dropped 2.6% and comparable sales in Europe decreased 0.6%.

Comparable store sales from Asia Pacific, Middle East and Asia declined 8.3% mainly due to broad-based consumer perception issues in Japan along with negative but improving performance in China.

Net income in the quarter tumbled 33% to $811.5 million or 84 cents per diluted share compared to $1.20 million or $1.21 from the same quarter last year.

The Coca-Cola Co (KO) gained 1% or 41 cents to $41.19 after the non-alcoholic beverages maker said net revenues in the first-quarter ending in March rose 1% to $10.71 billion from a year ago period.

Net income in the quarter dropped 4% to $1.56 billion or 35 cents per diluted share compared to $1.62 billion or 36 cents from the same quarter last year.

Yahoo! Inc (YHOO) dropped 1.1% or 48 cents to $44.01 after the Internet content aggregator said total revenues in the first-quarter ending in March soared 8.8% to $1.23 billion from a year ago period.

Net income in the quarter plunged 92% to $21.2 million or 2 cents per diluted share compared to $311.6 million or 29 cents from the same quarter last year.

Yahoo said display revenue in the quarter excluding traffic acquisition costs dropped 7% and price-per-ad declined 17% despite 29% increase in the number of ads sold from a year ago period.

Mobile ad revenues surged 61%.

Yum! Brands, Inc (YUM) soared 4.6% or $3.70 to $84.55 after the quick service restaurant company reported said total revenues in the first-quarter ending in March slumped 4% to $2.62 billion from a year ago period.

Same-store sales across all brands and markets in the quarter plummeted 12%, KFC sales declined 14%, Pizza Hut sales dropped 6% but Taco Bell sales climbed 6%.

Net income in the quarter declined 9% to $362 million or 81 cents per diluted share compared to $399 million or 87 cents from the same quarter last year.

The company said total revenue in China plunged 9% to $1.26 billion and revenue in KFC division fell 3% to $642 million.

Revenues from Pizza Hut during the quarter rose 1% to $271 million. Taco Bell revenues soared 10% to $431 million.

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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