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Market Update

Apple Surges on Broad Demand Growth Profile, Duke Energy Beats Forecast


Author: Mukesh Buch
ticker.com
Last Update: 1:11 PM EDT November 03 2017

12:55 PM New York – Ameren net and revenues declined. Apple reported record profit profit surged to record high on growth across every product category and every region of the world. CBRE reported strong financial results. Duke Energy beats estimates. Moody''s beats earnings and revenues estimate.

Tollbooth Index advanced 109.61 or 0.8% to 13,242.18.

Earnings Review

Ameren Corp (AEE) rose 10 cents to $62.42 after the utility services provider said revenues in the third-quarter ending in September declined 10.5% from a year ago to $1.7 billion.

Net income in the quarter plunged 21.9% to $288 million or $1.18 per diluted share from $369 million or $1.52 in the same quarter last year.

Apple Inc (AAPL) jumped 3% or $5.09 to $173.20 after the mobile, computer and electronics products maker reported revenues in the fourth-quarter ending in September jumped 12% from a year ago to $52.6 billion.

Net income in the quarter surged 18.8% to $10.7 billion or $2.07 per diluted share from $9 billion or $1.67 in the same quarter last year.

Apple said revenues in America jumped 14% to $23.1 billion and revenues in Europe soared 20% to $13 billion and revenues in Greater China advanced 12% to $9.8 billion while revenues in Japan declined 11% to $3.9 billion.

Apple added iPhone unit sales in the quarter increased 3% to 46.7 million units while sales in iPad segment soared 11% to 10.3 million units and sales in Mac business jumped 10% to 5.4 million units.

CBRE Group Inc (CBRE) increased 1.9% or 73 cents to $39.92 after the real estate services provider stated total revenues in the third-quarter ending in September advanced 11% from a year ago to $3.5 billion.

Net income in the quarter jumped 88% to $196.3 million or 58 cents per diluted share from $104.2 million or 31 cents in the same quarter last year.

Duke Energy Corp (DUK) gained 53 cents to $89.09 after the electricity provider reported revenues in the third-quarter ending in September declined 10.5% from a year ago to $1.7 billion.

Net income in the quarter declined 20.5% to $954 million or $1.36 per diluted share from $1.2 billion or $1.70 in the same quarter last year.

The electricity provider said decline in revenues was driven by unfavorable weather conditions but higher pricing and cost management partially offset the adverse impacts.

Moody''s Corporation (MCO) slid 20 cents to $143.27 after the credit ratings provider said revenues in the third-quarter ending in September jumped 16% from a year ago to $1.1 billion.

Net income in the quarter surged 24.3% to $317.3 million or $1.63 per diluted share from $255.3 million or $1.31 in the same quarter last year.

Moody’s forecasted fiscal 2017 diluted earnings per share between $6.18 and $6.33 and free cash flow of about $600 million.

Sotheby’s (BID) slipped 1% or 52 cents to $50.61 after the auction organizer stated total revenues in the third-quarter ending in September soared 87.3% from a year ago to $171.4 million.

Net loss in the quarter narrowed to $23.5 million or 45 cents per diluted share from $54.5 million or 99 cents in 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