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Market Update

Exxon Profit Down on Write-downs, MasterCard Cross-border Volumes Jumps


Author: Mukesh Buch
ticker.com
Last Update: 12:04 PM ET January 31 2017

11:55 AM New York – Aetna net tumbled 57%. Danaher reaffirmed earnings forecast. Exxon Mobil reports healthy profit despite impairment charges. Eli Lilly lowered earnings forecast. MasterCard net jumped. Pfizer net swung to profit. United Parcel net swung to a loss.

Tollbooth Index dropped 82.39 or 0.7% to 11,222.06.

Earnings Review

Aetna Inc (AET) gained 1.6% or $1.85 to $118.42 after the diversified healthcare services provider reported revenues in the third-quarter ending in December jumped 5% from a year ago to $15.7 billion.

Net income in the quarter tumbled 57% to $139 million or 39 cents per diluted share compared to the $321 million or 91 cents per share in the same quarter last year.

“Our 2016 results provide us significant momentum and positive outlook for the 2017,” executive vice president and chief financial officer Shawn Guertin said.

AmerisourceBergen Corp (ABC) rose 3.3% or $2.58 to $86.20 after the drugs distributor stated revenues in the first-quarter ending in December advanced 4% from a year ago to $38.2 billion.

Net income in the quarter plunged 25% to $247.2 million or $1.11 per diluted share compared to the $329.6 million or $1.45 per share in the same quarter last year.

The drugs distributor lifted revenues forecast growth between 6.5% and 8% and diluted earnings per share in the range of $5.72 to $5.92 compared to the earlier estimated range of $5.63 to $5.88.

Danaher Corporation (DHR) advanced 3.7% or $2.91 to $83.21 after the medical, industrial and commercial products maker said revenues in the fourth-quarter ending in December soared 7% from a year ago to $4.6 billion.

Net income in the quarter jumped 8.5% to $747 million or $1.07 per diluted share compared to the $688.6 million or 99 cents per share in the same quarter last year.

In the first-quarter 2017, the group reaffirmed diluted earnings per share in the range of 64 cents to 67 cents.

Danaher forecasted diluted earnings per share in the fiscal 2017 $3.13 to $3.23.

Exxon Mobil Corporation (XOM) slipped 1.3% or $1.10 to $83.76 after the oil and gas producer reported revenues in the fourth-quarter ending in December rose 2% from a year ago to $61.7 billion.

Net income in the quarter slumped 40% to $1.7 billion or 41 cents per diluted share compared to the $2.8 billion or 67 cents per share in the same quarter last year.

The energy group said earnings of $1.7 billion includes impairment charges, but excluding impairment, earnings were $3.7 billion, up from the $2.8 billion reported in the fourth quarter of 2015

Eli Lilly and Co (LLY) increased 1.7% or $1.30 to $75.99 after the human and animal health products maker said revenues in the fourth-quarter ending in December jumped 7% from a year ago to $5.8 billion.

Net income in the quarter soared 61% to $771.8 million or 73 cents per diluted share compared to the $478.4 million or 45 cents per share in the same quarter last year.

Eli Lilly said revenue in the U.S. surged 14% to $3.223 billion but revenues in outside the U.S. fell 1% to $2.54 billion and gross margin in the quarter jumped 8% to $4.30 billion.

Eli Lilly reaffirmed revenues forecast in the fiscal 2017 between $21.8 billion and $22.3 billion but lowered diluted earnings per share estimate in the range of $2.69 to $2.79 from earlier forecasted range of $3.51 to $3.61.

MasterCard Inc (MA) dropped 2.7% or $2.84 to $106.46 after the payment solutions provider reported net revenues in the fourth-quarter ending in December soared 9.5% from a year ago to $2.8 billion.

Net income in the quarter jumped 5% to $933 million or 86 cents per diluted share compared to the $890 million or 79 cents per share in the same quarter last year.

MasterCard said cross-border volumes in the quarter soared 13% and gross dollar volumes jumped 9% to $1.2 trillion while switched transactions surged 17% to 15.2 billion.

Pfizer Inc (PFE) rose 15 cents to $31.45 after the healthcare products maker said revenues income in the fourth-quarter ending in December fell 3% from a year ago to $13.6 billion.

Net in the quarter swung to profit $775 million or 13 cents per diluted share compared to the loss of $172 million or 3 cents per share in the same quarter last year.

Pfizer forecasted revenues in the fiscal 2017 between $52 billion and $54 billion and diluted earnings per share in the range of $2.50 to $2.6.

United Parcel Service, Inc (UPS) declined 5.5% or $6.44 to $110.59 after the package delivery services provider reported total revenues income in the fourth-quarter ending in December increased 5.5% from a year ago to $16.9 billion.

Net in the quarter swung to a loss of $239 million or 27 cents per diluted share compared to $1.3 billion profit or $1.48 per share in 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