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Market Update

Google Sells Motorola Mobility Division to Lenovo for $2.9 B

Author: Mukesh Buch
Last Update: 11:01 AM ET January 30 2014

11:10 AM New York Exxon Mobil net declined 16%. Google agreed to sell its Motorola division to Lenovo for $2.9 billion. UPS net swung to a profit of $1.17 billion. Visa net declined 28.3% after revenue climbed 9%.

Exxon Mobil Corporation (XOM) slipped 1.8% or $1.74 to $93.37 after the petrochemicals company reported total revenue in the fourth-quarter ending in December dropped 3.3% to $110.9 billion.

Net earnings in the quarter declined 16% to $8.35 billion or $1.91 a diluted share compared to $9.95 billion or $2.20.

Google Inc (GOOG) jumped 2.4% or $26.73 to $1,133.65 after the search engines provider agreed to sell its Motorola Mobility smart-phone business to Lenovo for $2.91 billion.

United Parcel Service, Inc (UPS) gained 1% or 95 cents to $96.28 after the package delivery company said total revenue increased 2.8% to $15 billion.

Net in the quarter swung to a profit $1.17 billion or $1.25 a diluted share compared to a loss of $1.75 billion or $1.83.

The company said domestic for the quarter revenue jumped 4.2% to $9.3 billion and daily package volume climbed 5.6%. International revenue soared 5.3% to $3.4 billion on growth of 8.8% daily package volume.

The company expects diluted earnings per share for the year in the range of $5.05 to $5.30, an increase of 11% to 16% from a year earlier.

Visa Inc (V) increased 1.7% or $3.68 to $220.80 after the electronic payments services provider said total revenue climbed 8.8% to $2.97 billion.

Net income in the quarter declined 28.3% to $1.19 billion or $1.85 a diluted share compared to $1.66 billion or $2.47.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc