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Market Update

Cigna, ConocoPhillips, Helmerich & Payne, Kellogg Decline


Author: Mukesh Buch
ticker.com
Last Update: 12:27 PM ET July 31 2014

12:25 PM New York Apache net plunged 50% and revenue declined 19%. Becton Dickinson profit climbed 8%. Cigna net soared 13%. ConocoPhillips quarterly net was flat but revenue jumped 4%. DirecTV net surged 22%. Helmerich & Payne net plummeted 28%. Kellogg profit tumbled 16%. MasterCard net climbed 10%.

Tollbooth Index dropped 1.7% or 159.31 to 9,338.57.

Earnings Review

Apache Corporation (APA) gained 1.8% or $1.83 to $103.15 after the energy company reported total revenues in the second-quarter ending in June declined 19% to $3.5 billion from a year ago period.

Net income in the quarter plunged 50% to $505 million or $1.31 a diluted share compared to $1.02 billion or $2.54 from a same quarter last year.

Automatic Data Processing, Inc. (ADP) slid 68 cents to $81.47 after the outsourcing service provider said total revenues in the fourth-quarter ending in June advanced 10% to $3.07 billion from a year ago period.

Net earnings in the quarter surged 27% to $288.7 million or 60 cents a diluted share compared to $277 million or 47 cents from a same quarter last year.

Becton Dickinson and Co (BDX) slipped 1.8% or $2.20 to $117.18 after the healthcare company reported revenues in the third-quarter ending in June rose 5% to $2.16 billion from a year ago period.

Net income in the quarter climbed 8% to $326 million or $1.65 a diluted share compared to $302 million or $1.52 from a same quarter last year.

Cigna Corporation (CI) plunged 4.1% or $3.86 to $89.64 after the health service company said total revenues in the second-quarter ending in June jumped 9% to $8.7 billion from a year ago period.

Net income in the quarter advanced 13% to $573 million or $2.12 a diluted share compared to $505 million or $1.76 from a same quarter last year.

ConocoPhillips (COP) dropped 2.2% or $1.84 to $82.78 after the oil and gas explorer stated total revenues in the second-quarter ending in June grew 4% to $14.70 billion from a year ago period.

Net income in the quarter nearly flat at $2.01 billion from a year earlier and diluted earnings per share slumped to $1.67 compared to $1.65 from a same quarter last year.

DirecTV (DTV) fell 19 cents to $86.04 after the broadcasting company reported revenues in the second-quarter ending in June increased 5% to $8.11 billion from a year ago period.

Net income in the quarter soared 22% to $806 million or $1.59 a diluted share compared to $660 million or $1.18 from a same quarter last year.

Helmerich & Payne, Inc. (HP) plunged 6.5% or $7.44 to $107.06 after the oil and gas producer said revenues in the third-quarter ending in June climbed 13% to $952 million from a year ago period.

Net income in the quarter plummeted 28% to $192 million or $1.75 a diluted share compared to $266 million or $2.46 from a same quarter last year.

Kellogg Company (K) declined 4.9% or $3.17 to $60.54 after the cereal maker stated net sales in the second-quarter ending in June decreased 0.8% to $3.7 billion from a year ago period.

Net income in the quarter tumbled 16% to $295 million or 82 cents a diluted share compared to $352 million or 96 cents from a same quarter last year.

MasterCard Inc (MA) slipped 1.3% or 99 cents to $74.95 after the payment service provider reported net revenue in the second-quarter ending in June climbed 13% to $2.4 billion from a year ago period.

Net income in the quarter advanced 10% to $931 million or 80 cents a diluted share compared to $848 million or 70 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