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Market Update

Estee Lauder, Time Warner, Ralph Lauren Drop


Author: Mukesh Buch
ticker.com
Last Update: 10:40 AM ET February 05 2014

10:40 AM New York Automatic Data Processing net slid 3%. Coca-Cola Enterprises net soared 35%. Estee Lauder profit fell 3%. Merck net plunged 14% after sales dropped 3%. Time Warner net declined 11% but revenue jumped. Ralph Lauren profit climbed 10% after sales soared.

Automatic Data Processing, Inc. (ADP) dropped 2.4% or $1.78 to $73.17 after the outsourcing sources provider stated total revenues in the second-quarter ending in December advanced 9% to $2.98 billion.

Net earnings in the quarter slid 3% to $377 million or 78 cents a diluted share compared to $390 million or 80 cents.

Beam Inc. (BEAM) fell 6 cents to $83.10 after the alcoholic beverage maker said net sales in the fourth-quarter ending in December increased 4% to $739.5 million. Comparable store sales in the quarter advanced 5%.

Net income in the quarter tumbled 19% to $90.3 million or 55 cents a diluted share compared to $110.9 million or 69 cents.

Coca-Cola Enterprises, Inc. (CCE) slipped 18 cents to $42.76 after the beverage maker reported net sales in the fourth-quarter ending in December climbed 6% to $2.03 billion.

Net income in the quarter soared 35% to $135 million or 51 cents a diluted share compared to $100 million or 34 cents.

Estee Lauder Companies Inc (EL) plunged 6.2% or $4.34 to $64.85 after the makeup and beauty products maker reported net sales in the second-quarter ending in December grew 3% to $3.02 billion.

Net earnings in the quarter fell 3.3% to $432.5 million or $1.09 a diluted share compared to $447.5 million or $1.13.

The company estimated net sales for the third-quarter to grow in the range of 10% to 11% and diluted earnings per share between 52 cents and 55 cents.

Merck & Co., Inc (MRK) jumped 2% or $1.08 to $54.59 after the health care company reported sales in the fourth-quarter ending in December slipped 3.4% to $11.3 billion.

Net income in the quarter plunged 14% to $781 million or 26 cents a diluted share compared to $908 million or 30 cents.

Time Warner Inc (TWX) dropped 2% or $1.27 to $61.13 after the media and entertainment company reported revenue in the fourth-quarter ending in December jumped 5% to $8.6 billion.

Net income in the quarter declined 11.4% to $983 million $1.06 a diluted share compared to $1.11 billion or $1.15.

Ralph Lauren Corporation (RL) declined 4.6% or $7.11 to $147.07 after the retailer said total revenues in the third-quarter ending in December jumped 9% to $1.97 billion. Comparable store sales in the quarter rose 1%.

Net income in the quarter climbed 10% to $237 million or $2.57 a diluted share compared to $216 million or $2.31.

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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