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Market Update

Domino's, GM, Johnson Controls Profit Jump; BNY Mellon, Travelers Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 1:17 PM ET July 21 2016

12:00 PM New York BNY Mellon net and revenues fell. BB&T revenues soared. Biogen profit jumped 13% on 12% increase in revenues. Domino''s Pizza net soared 7%. GM profit more than double. PPG Ind net advanced 10%. Travelers Co net declined 18%.

Tollbooth Index fell 18.77 or 0.2% to 10,962.44.

Earnings Review

Bank of New York Mellon Corp (BK) dropped 2.8% or $1.14 to $38.87 after the investments services provider reported total revenues in the second-quarter ending in June fell 3% from a year ago to $3.78 billion.

Net income in the quarter fell 0.6% to $825 million or 75 cents per diluted share compared to $830 million or 73 cents per share from the same quarter last year

BB&T Corporation (BBT) rose 5 cents to $36.49 after the financial services provider said revenues in the second-quarter ending in June soared 18% from a year ago to $2.78 billion.

Net income in the quarter surged 19.2% to $541 million or 66 cents per diluted share compared to $454 million or 62 cents per share from the same quarter last year.

Biogen Inc (BIIB) soared 5.7% or $14.74 to $277.15 after the biopharmaceutical company stated total revenues in the second-quarter ending in June advanced 12% from a year ago to $2.89 billion.

Net income in the quarter jumped 13% to $1 billion or $4.79 per diluted share compared to $971 million or $4.43 per share from the same quarter last year.

Biogen forecasted revenues in the full-year between $11.2 billion and $11.4 billion and diluted earnings per share in the range of $18.10 and $18.40.

Domino''s Pizza, Inc (DPZ) surged 6.4% or $8.73 to $145.62 after the pizza restaurant chain reported revenues in the second-quarter ending in June advanced 12% from a year ago to $2.89 billion.

Domestic same store sales in the quarter jumped 9.7% and same store sales growth in international division increased 7.1%, marked 90th consecutive quarterly international same store sales growth.

Net income in the quarter soared 7.4% to $49.3 million or 98 cents per diluted share compared to $45.9 million or 81 cents per share from the same quarter last year.

During the quarter, the company repurchased total 1,845,126 shares of its common stock under the open market share repurchase program for about $224.1 million at an average price of $121.48 per share.

The pizza delivery company had global net store growth in the quarter of 244 stores.

General Motors Company (GM) increased 2.1% or 66 cents to $32.15 after the automaker reported revenues in the second-quarter ending in June jumped 11% from a year ago to $42.4 billion.

Net income in the quarter surged more than double to $2.9 billion or $1.81 per diluted share compared to $1.1 million or 67 cents per share from the same quarter last year.

GM lifted diluted earnings per share in the year between $5.50 and $6 from the earlier estimated range of $5.25 to $5.75.

Johnson Controls Inc (JCI) jumped 3.3% or $1.48 to $45.80 after the technology company said revenues in the third-quarter ending in June fell 1% from a year ago to $9.52 billion.

Net income in the quarter jumped more than double to $383 million or 59 cents per diluted share compared to $178 million or 27 cents per share from the same quarter last year.

PPG Industries, Inc (PPG) slumped 2% or $2.20 to $107.83 after the paint and coatings company stated revenues in the second-quarter ending in June slid 1% from a year ago to $4.1 billion.

Net income in the quarter advanced 9.8% to $370 million or $1.37 per diluted share compared to $337 million or $1.23 per share from the same quarter last year.

Travelers Companies Inc (TRV) decreased 1% or $1.19 to $115.82 after the insurance company reported revenues in the second-quarter ending in June rose 1% from a year ago to $6.79 billion.

Net income in the quarter declined 18.2% to $664 million or $2.24 per diluted share compared to $812 million or $2.53 per share 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