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Market Update

Baxter, UnitedHealth Jump; Baker Hughes, eBay, Goldman Sachs Fall


Author: Mukesh Buch
ticker.com
Last Update: 1:03 PM ET October 16 2014

12:35 PM New York American Express net climbed 8%. Baker Hughes profit soared 10%. BB&T net surged 94% but revenues fell 2%. eBay net slid 2% while revenues surged 12%. Goldman Sachs net climbed 50%. PPG Ind net jumped 64%. UnitedHealth profit rose 2% on 7% increase in revenues.

Tollbooth Index slipped 0.8% or 70.33 to 8,836.41.

Earnings Review

American Express Company (AXP) fell 25 cents to $80.68 after the credit card service provider reported total revenue in the third-quarter ending in September edged up 0.4% to $8.33 billion from a year ago period.

Net income in the quarter climbed 8% to $1.48 billion or $1.40 a diluted share compared to $1.37 billion or $1.25 from a same quarter last year.

Baker Hughes Inc (BHI) plunged 7.6% or $4.07 to $49.56 after the oilfield service provider reported revenue in the third-quarter ending in September climbed 7.9% to $6.25 billion from a year ago period.

Net income in the quarter soared 10% to $375 million or 86 cents a diluted share compared to $341 million or 77 cents from a same quarter last year.

BB&T Corporation (BBT) slipped 35 cents to $35.61 after the banking service provider said revenue in the third-quarter ending in September fell 1.7% to $2.32 billion from a year ago period.

Net income in the quarter surged 94% to $520 million or 71 cents a diluted share compared to $268 million or 37 cents from a same quarter last year.

Baxter International Inc (BAX) gained 1.1% or 77 cents to $69.08 after the diversified healthcare company stated net sales revenue in the third-quarter ending in September soared 13% to $4.20 billion from a year ago period.

Net income in the quarter declined 14% to $468 million or 86 cents a diluted share compared to $544 million or 99 cents from a same quarter last year.

eBay Inc (EBAY) declined 6.2% or $3.13 to $47.11 after the online market place provider reported revenue in the third-quarter ending in September surged 12% to $4.4 billion from a year ago period.

Net income in the quarter dropped 2% to $673 million or 54 cents a diluted share compared to $689 million or 53 cents from a same quarter last year.

Goldman Sachs Group Inc (GS) dropped 1.7% or $3.05 to $174.19 after the bank and brokerage service provider said net revenue in the third-quarter ending in September jumped 24.8% to $8.39 billion from a year ago period.

Net income in the quarter climbed 49.6% to $2.14 billion or $4.57 a diluted share compared to $1.43 billion or $2.88 from a same quarter last year.

PPG Industries, Inc (PPG) slumped 1.5% or $2.67 to $177.83 after the paints and coatings maker stated net sales in the third-quarter ending in September climbed 4% to $3.94 billion from a year ago period.

Net income in the quarter jumped 64.2% to $371 million or $2.66 a diluted share compared to $226 million or $1.56 from a same quarter last year.

UnitedHealth Group Inc (UNH) climbed 4.1% or $3.36 to $85.52 after the diversified healthcare insurance provider reported revenue in the third-quarter ending in September advanced 7% to $32.8 billion from a year ago period.

Net earnings in the quarter rose 1.9% to $1.60 billion or $1.63 a diluted share compared to $1.57 billion or $1.53 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