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Market Update

Alphabet, Amazon, Microsoft, P&G Jump; American Airlines, Whirlpool Fall


Author: Mukesh Buch
ticker.com
Last Update: 12:22 PM ET October 23 2015

12:15 PM New York Alphabet net and revenues surged. Amazon.com net swung to profit. American Airlines expands share buyback plan. AT&T net fell 4%. Microsoft revenues declined 12%. PG net soared 31% but revenues plunged. Reuters net jumped 17%. Whirlpool profit jumped.

Tollbooth Index jumped 105.73 or 0.9% to 10,860.14.

Earnings Review

Alphabet Inc (GOOG) soared 8.6% or $55.88 to $707.67 after the search engine services provider said revenues in the third-quarter ending in September surged 13% from a year ago to $18.68 billion.

Net income in the quarter surged 45.3% to $3.98 billion or $5.73 per diluted share compared to $2.74 billion or $3.98 from the same quarter last year.

In the fourth quarter, Alphabet plans to buy back approx $5.1 billion in Class C stock.

Amazon.com, Inc (AMZN) surged 6.7% or $37.50 to $601.38 after the online market place reported revenues in the third-quarter ending in September jumped 23.2% from a year ago to $25.36 billion.

Net in the quarter swung to profit $79 million or 17 cents per diluted share compared to a loss of $437 million or 95 cents from the same quarter last year.

American Airlines Group Inc (AAL) declined 4.5% or $2.05 to $43.94 after the airline said revenues in the third-quarter ending in September fell 3.9% from a year ago to $10.71 billion.

Net income in the quarter surged 51.4% to $1.7 billion or $2.49 per diluted share compared to $942 million or $1.28 from the same quarter last year.

As of September, the airliner reported cash and investments of $9.6 billion excluding the restricted cash and cash held in $609 million in Venezuela.

American Airlines also announced the third increase of the year to its share buyback program to a total of $6 billion after $2 billion in January and $4 billion in July.

The company returned approx $2.7 billion to the shareholders in this year through dividend and share buyback.

AT&T Inc (T) rose 10 cents to $34.06 after the wireless communication services provider reported revenues in the third-quarter ending in September soared 18.6% from a year ago to $39.09 billion.

Net income in the quarter declined 4.3% to $2.99 billion or 50 cents per diluted share compared to $3.13 billion or 60 cents from the same quarter last year.

DTE Energy Co (DTE) slipped 1.1% or 97 cents to $83.90 after the energy company stated revenues in the third-quarter ending in September was flat from a year ago at $2.60 billion.

Net income in the quarter surged 51.4% to $252 million or $1.40 per diluted share compared to $181 million or $1.02 from the same quarter last year.

Microsoft Corporation (MSFT) soared 10.3% or $4.96 to $52.99 after the software services provider reported total revenues in the first-quarter ending in September slumped 12% from a year ago to $20.4 billion.

Net income in the quarter rose 1.8% to $4.62 billion or 57 cents per diluted share compared to $4.54 billion or 54 cents from the same quarter last year.

Procter & Gamble Co (PG) increased 2.7% or $2.03 to $76.87 after the consumer packaged goods maker reported said net sales in the third-quarter ending in September plunged 12% from a year ago to $16.53 billion.

Net income in the quarter soared 31% to $2.60 billion or 91 cents per diluted share compared to $1.99 billion or 69 cents from the same quarter last year.

Thomson Reuters Corp (TRI) slipped 1.9% or 82 cents to $41.43 after the professional information services provider stated revenues in the third-quarter ending in September declined 4.2% from a year ago to $2.98 billion.

Net income in the quarter jumped 17.2% to $293 million or 36 cents per diluted share compared to $250 million or 28 cents from the same quarter last year.

TreeHouse Foods Inc jumped 4.1% or $3.43 to $87.65 after the Reuters said consumer packaged food and beverage maker is in preliminary talks to acquire Ralcorp, the private label business of ConAgra Foods Inc, in a deal that may be valued between $2.5 billion and $2.7 billion.

United Continental Holdings Inc (UAL) increased 3.5% or $1.98 to $58.02 after the airline company said revenues in the third-quarter ending in September decreased 2% from a year ago to $10.31 billion.

Net income in the quarter surged to $4.82 billion or $12.82 per diluted share compared to $924 million or $2.37 from the same quarter last year.

Whirlpool Corporation (WHR) tumbled 8.7% or $13.84 to $145.97 after the home appliances maker reported net sales in the third-quarter ending in September soared 9.4% from a year ago to $5.28 billion.

Net income in the quarter rose 2.5% to $235 million or $2.95 per diluted share compared to $230 million or $2.88 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