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

American Airlines, UPS Earnings Down on Higher Fuel Costs, Comcast Net up


Author: Mukesh Buch
ticker.com
Last Update: 7:42 PM ET April 27 2017

3:10 PM New York – American Airlines and UPS net suffer on higher fuel costs. Bristol-Myers lifted forecast. Comcast earnings rise on higher growth in cable subscribers. Dow profit jumped five-fold. Ford profit was dented on recall costs and lower sales.

Tollbooth Index increased 39.89 or 0.3% to 12,028.68.

Earnings Review

American Airlines Group Inc (AAL) plunged 7% or $3.19 to $43.19 after the airline services provider said total revenues in the first-quarter ending in March rose 2.1% from a year ago to $9.6 billion.

Net income in the quarter declined 66.6% to $234 million or 46 cents per diluted share from $700 million or $1.14 in the same quarter last year.

Bristol-Myers Squibb Co (BMY) jumped 3.4% or $1.85 to $55.62 after the pharmaceutical products maker reported revenues in the first-quarter ending in March soared 12% from a year ago to $4.9 billion.

Net income in the quarter surged 33.3% to $1.6 billion or 94 cents per diluted share from $1.2 billion or 71 cents in the same quarter last year.

Bristol-Myers lifted fiscal 2017 earnings per share forecast in the range of $2.72 to $2.87 from the earlier estimated range of $2.47 to $2.67 and worldwide revenues to increase in the mid-single digits.

Comcast Corporation (CMCSA) advanced 2.8% or $1.07 to $39.86 after the media and broadcasting services provider revenues in the first-quarter ending in March jumped 8.9% from a year ago to $20.5 billion.

Net income in the quarter soared 20.2% to $2.6 billion or 53 cents per diluted share from $2.1 billion or 43 cents in the same quarter last year.

Comcast said cable communications revenue in the quarter increased 5.8% and total revenue per customer relationship grew 2.6%. Video customers increased net 42,000 and high-speed internet customers increased net 429,000 and residential revenue jumped 10.1% and customer relationships rose net 297,000 from a year ago period.

Dow Chemical Co (DOW) dropped 1.6% or $1 to $63.33 after the diversified chemical producer said revenues in the first-quarter ending in March soared 23% from a year ago to $13.2 billion.

Net income in the quarter surged to $888 million or 72 cents per diluted share from $169 million or 15 cents in the same quarter last year.

Dow said revenues jumped in all segments except Agricultural Sciences revenues dropped 5% to $1.6 billion after crop protection volume declined.

Domino''s Pizza, Inc (DPZ) jumped 3.1% or $5.61 to $186.57 after the pizza chain stated revenues in the first-quarter ending in March soared 15.8% from a year ago to $624.2 million.

Domino’s said domestic sales in the quarter increased 10.2% and international same store sales growth of 4.3%, 93rd quarters in a row of positive international same store sales growth while global retail sales jumped 13.2%.

Net income in the quarter surged 37.4% to $62.5 million or $1.26 per diluted share from $45.5 million or 89 cents in the same quarter last year.

The pizza chain operator added 189 stores in the quarter, 28 net new domestic stores and 161 net new international stores.

Ford Motor Company ((Ford)) slumped 1.7% or 20 cents to $11.40 after the automobiles company reported revenues in the first-quarter ending in March rose 4% from a year ago to $39.1 billion.

Net income in the quarter tumbled 36% to $1.6 billion or 40 cents per diluted share from $2.5 billion or 61 cents in the same quarter last year.

Ford said average transaction prices in the U.S. were up $1,971 from a year ago, nearly four times more than the industry average of $506 but sales in China weakened.

Ford forecasted total pre-tax profit in the fiscal 2017 of about $9 billion.

Parker-Hannifin Corp (PH) slipped 1.9% or $3.04 to $161.48 after the precision engineered solutions provider said sales in the third-quarter ending in March jumped 10% from a year ago to $3.1 billion.

Net income in the quarter surged 28% to $238.8 million or $1.75 per diluted share from $187.1 million or $1.37 in the same quarter last year.

Parker-Hannifin lifted fiscal 2017 earnings per share estimate to $7.20 from $6.90.

United Parcel Service, Inc (UPS) gained 1.3% or $1.44 to $109.05 after the package delivery services provider reported total revenues in the first-quarter ending in March slumped 6.3% from a year ago to $15.3 billion.

Net income in the quarter rose 2.4% to $1.2 billion or $1.32 per diluted share from $1.1 billion or $1.27 in the same quarter last year.

United Parcel today secured a defense contract for five years and worth about $2.35 billion.

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