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Market Update

Honeywell Lifts Estimate, Starbucks Falls 5% in Weak U.S. Holiday Sales


Author: Mukesh Buch
ticker.com
Last Update: 12:19 PM EST January 26 2018

12:10 PM New York City, New York Colgate-Palmolive profit tumbled 47%. Honeywell lifted earnings forecast. Intel surged on stronger quarterly results. Rockwell Collins beats earnings estimates. Starbucks holiday sales disappointed analysts.

Tollbooth Index increased 20.19 to 14,730.36.

Earnings Review

Colgate-Palmolive Company (CL) plunged 6.1% or $4.73 to $72.58 after the consumer products maker reported net sales in the fourth-quarter ending in December jumped 4.5% from a year ago to $3.9 billion.

Net income in the quarter tumbled 46.7% to $323 million or 37 cents per diluted share from $606 million or 68 cents in the same quarter last year.

Honeywell International Inc (HON) gained 1.2% or $1.94 to $163.74 after the industrial conglomerate reported net sales in the fourth-quarter ending in December advanced 8.1% from a year ago to $10.8 billion.

Net in the quarter swung to a loss of $2.4 billion or $3.18 per diluted share from profit of $1 billion or $1.34 in the same quarter last year.

Honeywell forecasted fiscal 2018 sales in the range of $41.8 billion to $42.5 billion and lifted diluted earnings per share in the range of $7.75 to $8 from the earlier estimate of $7.55 to $7.80.

Intel Corporation (INTC) surged 10.2% or $4.64 to $49.93 after computer chip maker reported revenues in the fourth-quarter ending in December jumped 4% from a year ago to $17.1 billion.

Net in the quarter swung to a loss of $0.7 billion or 15 cents per diluted share from profit of $3.6 billion or 73 cents in the same quarter last year.

Intel estimated revenues in fiscal first-quarter of about $15 billion and diluted earnings per share of 65 cents.

The chip maker forecasted fiscal 2018 revenues of about $65 billion and diluted earnings per share of $3.30.

Rockwell Collins, Inc (COL) rose 11 cents to $138.77 after the communications and aviation systems maker reported sales in the first-quarter ending in December soared 68.9% from a year ago to $2 billion.

Net income in the quarter surged 93.1% to $280 million or $1.69 per diluted share from $145 million or $1.10 in the same quarter last year.

Starbucks Corporation (SBUX) declined 4.8% or $2.89 to $57.66 after the coffee maker said total net revenues in the first-quarter ending in December jumped 7% from a year ago to $6.1 billion.

U.S comparable sales increased 2% driven by similar increase in average transaction price but sales fell short of 3% increase as holiday drinks and merchandise failed to spark interests.

Americas comparable store sales in the quarter increased 2%, driven by a 2% increase in average ticket and comparable store sales in China jumped 6%, driven by a 6% increase in transactions.

Net income in the quarter surged to $2.3 billion or $1.57 per diluted share from $751.8 million or 51 cents 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