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Market Update

Colgate, Harley Climb; ConocoPhillips, Qualcomm Drop


Author: Mukesh Buch
ticker.com
Last Update: 2:15 AM ET January 29 2015

12:45 PM New York Abbott net surged 54%. Colgate-Palmolive net climbed 11% while sales dropped. ConocoPhillips net swung to a loss. Dow Chemical net plunged 24%. Harley-Davidson net fell 1% on flat revenues. Qualcomm profit jumped 5%. Visa net declined 10%.

Tollbooth Index slid 0.1% or 13.79 to 9,943.79.

Earnings Review

Alibaba Group Holding Ltd (BABA) tumbled 10.2% or $10.02 to $88.48 after the online and mobile market place said revenues in the third-quarter ending in December was of $4.22 billion and net income in the quarter to $957 million and diluted earnings per share were 37 cents.

Abbott Laboratories (ABT) gained 1.4% or 61 cents to $44.02 after the healthcare product maker reported net sales in the fourth-quarter ending in December jumped 5.6% to $5.36 billion from a year ago period.

Net income in the quarter surged 53.6% to $905 million or 59 cents a diluted share compared to $589 million or 37 cents from the same quarter last year.

Colgate-Palmolive Company (CL) soared 5.5% or $3.56 to $68.68 after the consumer product maker stated net sales in the fourth-quarter ending in December dropped 3.2% to $4.22 billion from a year ago period.

Net income in the quarter climbed 11.3% to $628 million or 68 cents a diluted share compared to $564 million or 60 cents from the same quarter last year.

The company said net sales in the quarter from North America region rose 1.0% while Latin America net sales declined 6%.

Net sales form the Europe/South Pacific region tumbled 7.5% while Asia net sales climbed 4.5%. Africa/Eurasia net sales plunged 10% in the quarter.

ConocoPhillips (COP) dropped 2.7% or $1.64 to $60.94 after the oil and gas explorer reported total revenues in the fourth-quarter ending in December plummeted 15.3% to $11.85 billion from a year ago period.

Net in the quarter swung to a loss of $39 million or 3 cents a diluted share compared to profit of $2.49 billion or $2 from the same quarter last year.

Dow Chemical Co (DOW) jumped 2.2% or 95 cents to $43.97 after the science and technology company reported net sales in the fourth-quarter ending in December was flat at $14.38 billion from a year ago period.

Net income in the quarter plunged 23.8% to $734 million or 63 cents a diluted share compared to $963 million or 79 cents from the same quarter last year.

Harley-Davidson Inc (HOG) jumped 3.9% or $2.47 to $64.77 after the motorcycle and scooter maker stated total revenues in the fourth-quarter ending in December were flat at $1.03 billion from a year ago period.

Net income in the quarter plunged 23.8% to $74.5 million or 35 cents a diluted share compared to $75.4 million or 34 cents from the same quarter last year.

Qualcomm, Inc (QCOM) tumbled 11.7% or $8.27 to $63.09 after the communications products and service provider total revenues in the first-quarter ending in December climbed 7.2% to $7.10 billion from a year ago period.

Net income in the quarter jumped 5.3% to $1.97 billion or $1.17 a diluted share compared to $1.87 billion or $1.09 from the same quarter last year.

Visa Inc (V) rose 2 cents to $246.38 after the payments technology provider said net revenues in the fourth-quarter ending in December climbed 8.7% to $3.23 billion from a year ago period.

Net income in the quarter declined 10.1% to $1.07 billion or $1.72 a diluted share compared to $1.19 billion or $1.85 from the 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