S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Alphabet Advertising Revenues Soars, 3M Lifted Outlook


Author: Mukesh Buch
ticker.com
Last Update: 12:57 PM ET July 25 2017

2:10 PM New York – 3M net soared and lifted outlook. Alphabet net declined but revenues jumped after advertising revenue soared. Caterpillar net surged 46%. Domino''s domestic sales jumped.

Tollbooth Index edged down 3.26 to 12,453.20.

Earnings Review

3M Company (MMM) declined 5.3% or $11.13 to $198.87 after the industrial conglomerate said sales in the second-quarter ending in June rose 1.9% from a year ago to $7.8 billion.

Net income in the quarter soared 23.1% to $1.6 billion or $2.58 per diluted share from $1.3 billion or 51 cents in the same quarter last year.

3M lifted fiscal 2017 sales forecast to between 3% to 5% from the earlier estimate of 2% and 5% and earnings per share in the range of $8.80 to $9.05 from the prior forecast of $8.70 to $9.05, representing 8% to 11% increase from 2016 results.

Alphabet Inc (GOOG) dropped 2.9% or $28.61 to $951.60 after the search engine operator reported revenues in the second-quarter ending in June soared 21% from a year ago to $26.01 billion.

Net income in the quarter declined 28.6% to $3.5 billion or $5.01 per diluted share from $4.3 billion or $7 in the same quarter last year.

Google’s advertising revenue jumped 18% to $22.7 billion, driven by 52% surge in paid clicks and its “other revenue”, includes Google Play, hardware and its cloud business surged 42% to $3.09 billion from a year ago period.

Caterpillar Inc (CAT) jumped 5.1% or $5.47 to $113.68 after the construction and mining equipment maker said sales in the second-quarter ending in June soared 9.7% from a year ago to $11.3 billion.

Net income in the quarter surged 45.8% to $802 million or $1.35 per diluted share from $550 million or 93 cents in the same quarter last year.

Caterpillar lifted full-year revenues forecast in the range of $42 billion to $44 billion from the earlier estimate of $38 billion to $41 billion and earnings per share of about $3.50.

E I Du Pont De Nemours And Co (DD) increased 1.4% or $1.21 to $85.56 after the industrial conglomerates said sales in the second-quarter ending in June jumped 5% from a year ago to $7.4 billion.

Net income in the quarter slumped 15.5% to $862 million or 99 cents per diluted share from $1.02 billion or $1.16 in the same quarter last year.

Domino''s Pizza, Inc (DPZ) tumbled 8.5% or $18.07 to $195.90 after the pizza restaurant chain stated total revenues in the second-quarter ending in June soared 14.8% from a year ago to $628.6 million.

Domino''s international same-store sales increased 2% and domestic same-store sales rose 9.5%.

Net income in the quarter jumped 10.5% to $65.7 million or $1.32 per diluted share from $49.3 million or 38 cents in the same quarter last year.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc