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

Cognizant, Chesapeake, Devon Climb; Tripadvisor Plunges 14%


Author: Mukesh Buch
ticker.com
Last Update: 11:22 AM ET November 05 2014

11:45 AM New York Cognizant net soared 11%. Chesapeake Energy net climbed 8%. Duke Energy net surged 27%. Devon Energy net surged 138% on 97% increase in revenue. Enbridge net swung to loss. Time Warner profit tumbled 18%. Tripadvisor plunged 13% after net dropped 4%.

Tollbooth Index rose 0.3% or 27.29 to 9,642.86.

Earnings Review

Cognizant Technology Solutions Corp (CTSH) jumped 5% or $2.43 to $50.93 after the outsourcing service provider reported revenues in the third-quarter ending in September climbed 11.9% to $2.58 billion from a year ago period.

Net income in the quarter soared 11.3% to $355.6 million or 58 cents a diluted share compared to $319.6 million or 53 cents from a same quarter last year.

The company forecasted revenues for the fourth-quarter between $2.61 billion and $2.64 billion and for the year in the range of $10.13 billion to $10.16 billion.

Chesapeake Energy Corporation (CHK) soared 5.9% or $1.25 to $22.54 after the oil and gas explorer said total revenues in the third-quarter ending in September soared 17% to $5.70 billion from a year ago period.

Net income in the quarter climbed 8.3% to $169 million or 26 cents a diluted share compared to $156 million or 24 cents from a same quarter last year.

Duke Energy Corp (DUK) increased 74 cents to $82.97 after the energy company reported revenues in the third-quarter ending in September rose 2.9% to $6.40 billion from a year ago period.

Net income in the quarter surged 27% to $1.27 billion or $1.80 a diluted share compared to $1 billion or $1.42 from a same quarter last year.

Devon Energy Corp (DVN) surged 8.3% or $4.65 to $60.70 after the oil and gas explorer stated revenues in the third-quarter ending in September soared 97% to $5.34 billion from a year ago period.

Net income in the quarter climbed 137.8% to $1.02 billion or $2.47 a diluted share compared to $429 million or $1.05 from a same quarter last year.

Enbridge Inc (ENP) rose 5 cents to $45.87 after the Canada-based energy transporter and distributor said total revenue slipped 7.8% to C$8.3 billion fro a year ago period.

Net in the quarter swung to a loss of C$80 billion or 10 cents a diluted share compared to profit of C$421 million or 51 cents from a same quarter last year.

Spectra Energy Corp (SE) gained 32 cents to $38.50 after the natural gas infrastructure developer stated revenue in the third-quarter ending in September increased 6.1% to $1.21 billion from a year ago.

Net income in the quarter plunged 13% to $254 million or 30 cents a diluted share compared to $292 million or 39 cents from a same quarter last year.

Time Warner Inc (TWX) jumped 2.6% or $1.97 to $76.95 after the pay television service provider reported revenues in the third-quarter ending in September increased 3% to $6.24 billion from a year ago period.

Net income in the quarter tumbled 18% to $967 million or $1.11 a diluted share compared to $1.18 billion or $1.26 from a same quarter last year.

Revenues from the Turner division jumped 5% to $2.4 billion and revenues from Home Box Office segments climbed 10% to $1.3 billion. Revenues from Warner Bros rose 3% to $2.8 billion.

Tripadvisor Inc (TRIP) plunged 13.8% or $11.55 to $72.24 after the online travel reviews site operator said revenue in the third-quarter ending in September climbed 39% to $354 million from a year ago period.

Net income in the quarter dropped 4% to $54 million or 37 cents a diluted share compared to $56 million or 38 cents from a same quarter last year.

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