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Market Update

Archer Daniels Net Beats Expectations, Coach Offers Upbeat Outlook


Author: Mukesh Buch
ticker.com
Last Update: 1:01 PM ET August 05 2014

1:05 PM New York – Archer Daniels second-quarter net surged more than doubled. CVS Caremark second-quarter net jumped 12% to $1.3 billion. Coach fourth-quarter net plunged 66% to $75 million. HCP second-quarter net rose 3%. Marathon Oil second-quarter net surged 27% to $540 million.

Tollbooth Index dropped 0.9% or 87.35 to 9,264.95.

Earnings Review

Archer Daniels Midland Company (ADM) climbed 3.7% or $1.81 to $48.76 after the food processing company reported revenues in the second-quarter ending in June dropped 4.6% to $21.49 billion from a year ago period.

Net income in the quarter surged 139% to $533 million or 81 cents a diluted share compared to $223 million or 34 cents from a same quarter last year.

CVS Caremark Corporation (CVS) gained 21 cents to $77.56 after the health care company stated net revenues in the second-quarter ending in June climbed 10.7% to $34.6 billion from a year ago period.

Net income in the quarter jumped 12% to $1.25 billion or $1.06 a diluted share compared to $1.12 billion or 91 cents from a same quarter last year.

Coach, Inc. (COH) soared 4.1% or $1.42 to $35.73 after the women’s accessories maker said net revenues in the fourth-quarter ending on June 28 advanced 7% to $1.14 billion from a year ago period.

Net income in the quarter plunged 66% to $75 million or 27 cents a diluted share compared to $221 million or 78 cents from a same quarter last year.

Gannett Co., Inc rose 1 cent to $34.33 after the media and marketing company plans to split its broadcasting and digital businesses from its publishing business.

Gannett has also signed a definitive agreement to acquire full ownership of Cars.com, the automotive website for $1.8 billion in cash.

HCP, Inc (HCP) added 3 cents to $41.76 after the real estate developer said total revenue in the second-quarter ending in June jumped 4.7% to $536.1 million from a year ago period.

Net income in the quarter rose 2.5% to $218.4 million or 48 cents a diluted share compared to $213 million or 47 cents from a same quarter last year.

Marathon Oil Corporation (MRO) slipped 1.5% or 58 cents to $35.73 after the energy company reported total revenues in the second-quarter ending in June decreased 1.7% to $2.94 billion from a year ago period.

Net income in the quarter surged 27% to $540 million or 80 cents a diluted share compared to $426 million or 60 cents from a same quarter last year.

RetailMeNot Inc (SALE) tumbled 26.4% or $6.67 to $18.62 after the online digital coupon marketplace said net revenue in the second-quarter ending in June soared 37% to $59.5 million from a year ago period.

Net in the quarter swung to profit $4.3 million or 8 cents a diluted share compared to a loss of $1 million or 68 cents from a same quarter last year.

Regeneron Pharmaceuticals Inc (REGN) climbed 2.5% or $8.05 to $333.93 after the biopharmaceutical company reported total revenue in the second-quarter ending in June soared 45% to $666 million from a year ago period.

Net income in the quarter jumped 7% to $93 million or 82 cents a diluted share compared to $87 million or 79 cents from a 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