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Market Update

Amazon Net Loss Widens; Moody's, Starbucks Fall


Author: Mukesh Buch
ticker.com
Last Update: 8:45 AM ET July 25 2014

12:15 PM New York AbbVie net jumped 3%. American Electric Power net soared 15%. Amazon.com net loss widened but revenue surged 23%.Chubb net declined 14%. DTE Energy net climbed 18%. Moody's net soared 41.5%. Starbucks revenue and profit jumped. Tyco Intl net surged.

Tollbooth Index edged up 0.02% or 1.96 to 9,563.60.

Earnings Review

AbbVie Inc (ABBV) slipped 1% or 57 cents to $53.50 after the pharmaceuticals company reported revenue in the second-quarter ending in June jumped 5% to $4.93 billion from a year ago.

Net earnings in the quarter jumped 2.8% to $1.10 billion compared to $1.07 billion and diluted earnings per share were flat at 82 cents from a year earlier.

American Electric Power Company Inc (AEP) slid 1% or 56 cents to $53.44 after the electric utility provider said revenue in the second-quarter ending in June climbed 11.1% to $4 billion from a year ago period.

Net earnings in the quarter soared 15.4% to $390 million or 80 cents a diluted share compared to $338 million or 73 cents from a year earlier.

Amazon.com, Inc. (AMZN) tumbled 11.1% or $39.79 to $319 after the online market place operator stated net sales in the second-quarter ending in June soared 23% to $19.3 billion from a year ago.

Net loss in the quarter widened to $126 million or 27 cents a diluted share compared to $7 million or 2 cents from a same quarter last year.

The Chubb Corporation (CB) declined 3.6% or $3.35 to $89.41 after the casualty insurance company said net premiums written in the second-quarter ending in June rose 4% to $3.2 billion from a year ago.

Net income in the quarter declined 13.8% to $499 million or $2.03 a diluted share compared to $579 million or $2.21 from a same quarter last year.

DTE Energy Co (DTE) decreased 1.3% or $1.03 to $76.11 after the diversified energy company reported revenue in the second-quarter ending in June surged 21.6% to $2.70 billion from a year ago.

Net income in the quarter climbed 18.1% to $124 million or 70 cents a diluted share compared to $105 million or 60 cents from a year earlier.

The energy company forecasted operating earnings per diluted share for the year between $4.20 and $4.40.

Moody''s Corporation (MCO) fell 1% or 95 cents to $91.53 after the credit rating agency said revenue in the second-quarter ending in June soared 16% to $873.5 million from a year ago.

Net earnings in the quarter surged 41.5% to $319.2 million or $1.48 a diluted share compared to $225.5 million or $1 from a year earlier.

Starbucks Corporation (SBUX) dropped 2.4% or $1.90 to $78.54 after the coffee house chain reported total revenues in the third-quarter ending on June 29 climbed 11.8% to $4.1 billion from a year ago period.

Net income in the quarter surged 22.7% to $512.6 million or 67 cents a diluted share compared to $417.8 million or 55 cents from a same quarter last year.

Tyco International Ltd (TYC) gained 39 cents to $45.20 after the Switzerland-based security products and services provider said agency revenue in the third-quarter ending in June climbed 5% to $2.66 billion from a year ago.

Net income in the quarter surged to $1.45 billion or $3.11 a diluted share compared to $135 million or 28 cents from a year earlier.

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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