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Market Update

Citigroup, Goodrich, J.B. Hunt, WebMD Health Climb


Author: Mukesh Buch
ticker.com
Last Update: 12:25 PM ET April 14 2014

12:15 PM New York Citigroup net jumped 4% and revenue fell 2%. Goodrich Petroleum surged after commencing production from its Louisiana well. J.B. Hunt profit dropped 6% but revenue soared 9%. M&T Bank net plunged 16%. WebMD Health soared after lifted its first-quarter outlook.

Citigroup Inc (C) climbed 3.2% or $1.45 to $47.12 after the financial service provider reported revenue in the first-quarter ending in March fell 2% to $20.1 billion.

Net income in the quarter jumped 4% to $3.9 billion or $1.23 a diluted share compared to $3.8 million or $1.23.

Edwards Lifesciences Corp (EW) climbed 13.9% or $10.09 to $83.06 after the medical equipment maker said late Friday that it won a preliminary injunction limiting the sale of CoreValve devices made by Medtronic Inc. that were found by a federal jury to infringe on an Edwards patent.

The court ordered the injunction to go into effect in seven business days.

Medtronic shares were down 2.4% to $57.78.

Goodrich Petroleum Corporation (GDP) surged 28.2% or $5.19 to $23.59 after the oil and gas explorer said its has completed its Blades 33H-1 well in Tangipahoa Parish, Louisiana with an average daily production reaching to 1,270 barrels of oil equivalent.

J.B. Hunt Transport Services, Inc (JBHT), the transportation service provider said revenue in the first-quarter ending in March climbed 9% to $1.41 billion.

Net earnings in the quarter dropped 6.3% to $68.7 million or 58 cents a diluted share compared to $73.3 million or 61 cents.

M&T Bank Corporation (MTB) gained 1.5% or $1.76 to $119.98 after the bank said interest income in the in the first-quarter ending in March slid 0.9% to $722.9 million.

Net income in the quarter plunged 16.4% to $229 million or $1.66 a diluted share compared to $274.1 million or $2.06.

WebMD Health Corp (WBMD) soared 18.6% or $6.99 to $44.66 after the health information services provider forecasted revenue in the first-quarter at the high end of the range previously provided.

Adjusted earnings before interest, taxes, non-cash and other items and net income estimated to slightly above the high end of the range.

The company added traffic during the first quarter soared 32% to 174 million unique users a month generating 3.5 billion page views, an increase of 26% from a year ago.

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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