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Market Update

Chevron, Fluor Net Plunge; CVS, Sempra Net Rise


Author: Mukesh Buch
ticker.com
Last Update: 12:35 PM ET May 02 2014

12:30 PM New York Chevron net plunged 27% and revenue dropped 6%. CVS Caremark net surged 18%. Cooper Tire net and sales jumped. Fluor profit plummeted 10%. LinkedIn net swung to a loss. Marsh & McLennan net climbed 7%. Sempra Energy profit surged 39%.

Chevron Corporation (CVX) fell 27 cents to $124.67 after the petroleum refiner reported total revenue in the first-quarter ending in March dropped 6.1% to $53.3 billion.

Net income in the quarter plunged 27% to $4.51 billion or $2.36 a diluted share compared to $6.18 billion or $3.18.

CVS Caremark Corporation (CVS) gained 28 cents to $73.36 after the health care provider sales climbed 6.3% to $32.7 billion.

Net income in the quarter surged 18.3% to $1.13 billion or 95 cents a diluted share compared to $954 million or 77 cents.

Cooper Tire & Rubber Co (CTB) climbed 5.6% or $1.45 to $27.19 after the tube and tire maker stated net sales in the first-quarter ending in March soared 8.2% to $861.7 million.

Net income in the quarter jumped 7% to $56.1 million or 87 cents a diluted share compared to $45.4 million or 71 cents.

Fluor Corporation (FLR) increased 72 cents to $76.26 after the engineering construction company stated total revenue in the first-quarter ending in March declined 25% to $5.38 billion.

Net earnings in the quarter plummeted 10.4% to $149.1 million or 92 cents a diluted share compared to $166.5 million or $1.02.

LinkedIn Corp (LNKD) plunged 6.5% or $10.54 to $150.68 after the professional network service provider reported revenue in the first-quarter ending in March soared 46% to $473.2 million.

Net in the quarter swung to a loss $13.4 million or 11 cents a diluted share compared to a profit of $22.6 million or 20 cents.

Marsh & McLennan Companies, Inc (MMC) dropped 1.4% or 67 cents to $48.50 after the insurance and brokerage company said revenue in the first-quarter ending in March increased 4% to $3.3 billion.

Net income in the quarter climbed 7.3% to $443 million or 80 cents a diluted share compared to $413 million or 74 cents.

Sempra Energy (SRE) slipped 1.4% or $1.42 to $97.30 after the utility provider reported total revenue in the first-quarter ending in March jumped 5.7% to $2.80 billion.

Net income in the quarter surged 38.7% to $247 million or 66 cents a diluted share compared to $178 million or 63 cents.

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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