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

Boeing Lifts Delivery Target, Hess Lifts Production Spending


Author: Mukesh Buch
ticker.com
Last Update: 5:27 PM ET January 25 2017

2:10 PM New York Abbott net jumped 4%. Alcoa said it expects global aluminum demand to increase 4% in 2017. Boeing profit surged 59% and the aviation company forecasted higher operating cash flow. Hess net loss widened. Illinois Tool net soared 13%. Rockwell profit jumped 16%. Grainger net tumbled 21%.

Tollbooth Index jumped 66.22 or 0.6% to 11,482.36.

Earnings Review

Abbott Laboratories (ABT) slipped 1.8% or 72 cents to $39.60 after the healthcare products maker said net sales in the fourth-quarter ending in December rose 2.8% from a year ago to $5.3 billion.

Net income in the quarter jumped 4.2% to $971 million or 53 cents per diluted share compared to the $932 million or 51 cents per share in the same quarter last year.

Abbott forecasted diluted earnings per share in the first-quarter in the range of 19 cents to 21 cents.

In the fiscal 2017, the drug-maker estimated diluted earnings per share between 92 cents and $1.02.

Alcoa Corporation (AA) jumped 3.2% or $1.19 to $38.69 after the aluminum producer reported total revenues in the fourth-quarter ending in December advanced 3.4% from a year ago to $2.5 billion.

Net loss in the quarter narrowed to $125 million or 68 cents per diluted share compared to the $826 million or $4.52 per share in the same quarter last year.

Since the launch as an independent company in November 2016, Alcoa had increased its cash position by $198 million and closed the quarter with a cash balance of $853 million.

Alcoa expects global aluminum demand in 2017 to increase by 4%.

The Boeing Company (BA) advanced 3.4% or $5.36 to $165.91 after the aerospace group said total revenues in the fourth-quarter ending in December fell 1% from a year ago to $23.3 billion.

Net income in the quarter surged 59% to $1.6 billion or $2.59 per diluted share compared to the $1.03 billion or $1.51 per share in the same quarter last year.

Boeing forecasted operating cash flow in 2017 expected to increase $10.75 billion and diluted earnings per share $10.25 and $10.45 and order backlog of about $500 billion and will deliver commercial aircrafts between 760 and 765 in 2017.

Cisco Systems Inc rose 19 cents to $30.80 after the networking equipment maker agreed to buy software dveloper AppDynamics Inc for $3.7 billion.

The transaction is expected to close in April.

Hess Corporation (HES) gained 47 cents to $57.99 after the oil and gas producer stated total revenues in the fourth-quarter ending in December were flat from a year ago at $1.39 billion.

Net loss in the quarter widened to $4.9 billion or $15.65 per diluted share compared to the $1.8 billion or $6.43 per share in the same quarter last year.

Illinois Tool Works Inc (ITW) slid 1% or $1.29 to $125.82 after the industrial products and equipment maker reported total revenues in the fourth-quarter ending in December increased 4% from a year ago to $3.4 billion.

Net income in the quarter soared 12.7% to $507 million or $1.45 per diluted share compared to the $450 million or $1.23 per share in the same quarter last year.

In the first quarter, the industrial products maker forecasted diluted earnings per share in the range of $1.39 to $1.49.

ITW reaffirmed full-year diluted earnings per share estimate in the range of $6 to $6.20 and operating margin to exceed 23.5%.

Rockwell Automation (ROK) soared 7.1% or $10.07 to $152.10 after the industrial automation equipment maker said net sales in the first-quarter ending in December advanced 4% from a year ago to $1.5 billion.

Net income in the quarter jumped 15.7% to $214.7 million or $1.65 per diluted share compared to the $185.5 million or $1.40 per share in the same quarter last year.

Rockwell lifted diluted earnings per share estimate in fiscal 2017 to between $5.95 and $6.35 per share from the earlier forecasted range between $5.85 and $6.25.

Sales growth was revised higher to a range of 1% to 5% from flat to 4%.

W W Grainger Inc (GWW) jumped 3.9% or $9.58 to $258.67 after the industrial products distributor reported sales in the fourth-quarter ending in December rose 2% from a year ago to $10.1 billion.

Net income in the quarter tumbled 21.2% to $606 million or $9.87 per diluted share compared to the $769 million or $11.58 per share in the same quarter last year.

  1  2
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc