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Market Update

Expedia, FB, Ralph Lauren Soar; Qualcomm, Whole Foods Plunge


Author: Mukesh Buch
ticker.com
Last Update: 12:08 PM ET November 05 2015

11:50 AM New York Apache net loss widened and Duke Energy profit plunged 27%. Expedia agreed to acquire smaller rival HomeAway for $3.9 billion. FB net soared 11% after ad revenues rose 45%. Qualcomm profit declined 44%. Ralph Lauren net tumbled 20%.

Tollbooth Index increased 22.54 or 0.2% to 11,082.96.

Earnings Review

Apache Corporation (APA) gained 24 cents to $49.61 after the oil and gas explorer said revenues in the third-quarter ending in September plunged 56.4% from a year ago to $1.50 billion.

Net loss in the quarter widened to $5.66 billion or $14.95 per diluted share compared to $1.33 billion or $3.50 per share from the same quarter last year.

Duke Energy Corp (DUK) fell 41 cents to $71.52 after the energy services provider stated revenues in the third-quarter ending in September increased 1.3% from a year ago to $6.48 billion.

Net income in the quarter plunged 26.6% to $932 million or $1.35 per diluted share compared to $1.27 billion or $1.80 per share from the same quarter last year.

Expedia Inc (EXPE) jumped 3.1% or $4.11 to $138.36 after the online travel company agreed to acquire smaller rival HomeAway, Inc for $38.31 per share or about $3.9 billion in cash and stock.

Under the terms, Expedia offered $10.15 in cash and 0.2065 per share and the transaction is expected to close in the first-quarter of 2016.

HomeAway, Inc stock surged 23.5% to $39.58.

Facebook Inc (FB) soared 4% or $4.18 to $108.13 after the social networking services provider reported revenues in the third-quarter ending in September surged 40.6% from a year ago to $4.50 billion.

Net income in the quarter soared 11.1% to $891 million or 31 cents per diluted share compared to $802 million or 30 cents per share from the same quarter last year.

As of September 30, Facebook had 1.55 billion monthly active users, 14% higher than the last year. Of the total user base, 1.39 billion accessed the site through mobile devices. Ad revenue in the quarter jumped 45.4% to $4.30 billion.

Facebook said it had 8 billion video views per day from 500 million people, compared with 4 billion views in April.

The social media platform operator did not disclose ad sales figures of Instagram.

Gogo Inc (GOGO) surged 12.9% or $1.92 to $16.82 after the aero communications service provider said total revenues in the third-quarter ending in September surged 21.5% from a year ago to $126.4 million.

Net loss in the quarter widened to $28.9 million or 37 cents per diluted share compared to $24.9 million or 29 cents per share from the same quarter last year.

Qualcomm, Inc (QCOM) tumbled 13.8% or $8.33 to $51.92 after the wireless technology provider said revenues in the fourth-quarter ending on September 27 plummeted 18% from a year ago to $5.46 billion.

Net income in the quarter declined 43.9% to $1.06 billion or 67 cents per diluted share compared to $1.89 billion or $1.11 per share from the same quarter last year.

The company forecasted revenues for the first-quarter in the range of $5.2 billion to $6 billion and earnings per share between 80 cents and 90 cents.

Qualcomm said it will no longer issue fiscal revenue and earnings guidance.

Ralph Lauren Corp (RL) surged 16.3% or $18.53 to $132.10 after the lifestyle products designer reported revenues in the second-quarter ending on September 26 fell 1% from a year ago to $1.97 billion.

Net income in the quarter tumbled 20.4% to $160 million or $1.86 per diluted share compared to $201 million or $2.25 per share from the same quarter last year.

Teradata Corporatio (TDC) tumbled 15.1% or $4.50 to $25.30 after the analytical data platforms provider stated revenues in the third-quarter ending in September declined 9% from a year ago to $606 million.

Net income in the quarter dropped 17% to $78 million or 55 cents per diluted share compared to $94 million or 60 cents per share from the same quarter last year.

Whole Foods Market, Inc (WFM) dropped 5.1% or $1.58 to $29.18 after the natural and organic foods retailer stated reported revenues in the fourth-quarter ending in September rose 3% from a year ago to $3.4 billion.

Comparable store sales in the quarter decreased 0.2%.

Net income in the quarter slumped 56.3% to $56 million or 16 cents per diluted share compared to $128 million or 35 cents 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