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Market Update

Harley-Davidson, Netflix Climb; McDonald's U.S. Sales Ease


Author: Mukesh Buch
ticker.com
Last Update: 1:00 PM ET April 22 2014

11:50 AM New York – Bank of New York Mellon net swung to a profit. Comcast net surged 30% after revenue jumped 14%. Harley-Davidson net climbed 19%. Illinois Tool profit soared 34%. Lockheed Martin net jumped 23%. McDonald’s net declined 5%. Netflix profit surged.

The Bank of New York Mellon Corporation (BK) slid 5 cents to $33.66 after the financial services provider reported total revenue in the first-quarter ending in March was flat at $3.65 billion.

Net in the quarter swung to a profit $661 million or 57 cents a diluted share compared to a loss of $266 million or 23 cents.

Comcast Corporation (CMCSA) jumped 2.9% or $1.43 to $51.31 after the cable services provider reported revenue in the first-quarter ending in March soared 13.7% to $17.41 billion.

Net income in the quarter surged 29.9% to $1.87 billion or 71 cents a diluted share compared to $1.44 billion or 54 cents.

Harley-Davidson Inc (HOG) surged 7.7% or $5.18 to $72.72 after the motorcycle maker revenue in the first-quarter ending in March climbed 11.3% to $1.57 billion.

Net income in the quarter jumped 18.6% to $265.9 million or $1.21 a diluted share compared to $224.1 million or 99 cents.

Illinois Tool Works Inc (ITW) gained 78 cents to $85.38 after the industrial products maker said revenue in the first-quarter ending in March increased 4% to $3.57 billion.

Net income in the quarter soared 33.6% to $473 million or $1.11 a diluted share compared to $354 million or 78 cents.

Lockheed Martin Corporation (LMT) dropped 82 cents to $160.67 after the security and aerospace products maker stated net sales in the first-quarter ending in March fell 4% to $10.7 billion.

Net earnings in the quarter climbed 23% to $933 million or $2.87 a diluted share compared to $761 million or $2.33.

McDonald’s Corporation (MCD) rose 18 cents to $99.90 after the quick service restaurants operator reported total revenue in the first-quarter ending in March rose 1.4% to $6.7 billion.

McDonald’s said global comparable sales increase of 0.5% while comparable sales in the U.S. dropped 1.7%. Comparable sales in Europe region jumped 1.4%.

Net income in the quarter declined 5.1% to $1.20 billion or $1.21 a diluted share compared to $1.27 billion or $1.26 a year earlier.

Netflix, Inc (NFLX) climbed 6.4% or $22.12 to $370.61 after the paid television network service provider reported revenue in the first-quarter ending in March jumped 24.5% to $1.27 billion.

Net income in the quarter surged to $53.1 million or 86 cents a diluted share compared to $2.7 million or 5 cents.

Valeant Pharmaceuticals Intl Inc (VRX) climbed 3.4% or $4.15 to $130.35 after the pharmaceutical company offered to buy Allergan Inc. in a cash-and-stock deal valued at $45.7 billion.

The company said merger offer comprised of $48.30 in cash and 0.83 of per Valeant share for each on the fully diluted number of Allergan share.

Shares of Allergan surged 16.2% to $165.

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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