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Market Update

JPMorgan Net Swings to Profit; Citigroup, Wells Fargo Net Rise


Author: Mukesh Buch
ticker.com
Last Update: 12:50 PM ET October 14 2014

12:20 PM New York Citigroup net jumped 6% on 10% increase in revenues. Domino''s Pizza profit surged 16% after same store sales climbed above 7%. J&J net soared 59%. JPMorgan net swung to profit. J.B. Hunt net soared 14%. Wells Fargo net jumped 3%. Wolverine net climbed 6%.

Tollbooth Index climbed 1.5% or 135.74 to 9,020.19.

Earnings Review

Citigroup Inc (C) jumped 2.5% or $1.28 to $51.18 after the diversified financial service provider reported revenue in the third-quarter ending in September climbed 9.5% to $19.6 billion from a year ago period.

Net income in the quarter jumped 6.2% to $3.4 billion or $1.07 a diluted share compared to $3.2 billion or $1 from a same quarter last year.

Domino''s Pizza, Inc (DPZ) soared 7.4% or $5.60 to $81.32 after the pizza chains operator said revenues in the third-quarter ending in September soared 10.5% to $446.6 billion from a year ago period.

Domestic same store sales during the quarter jumped 7.7% and international division same store sales also climbed 7.1%, 83rd consecutive quarterly same store sales growth.

Net income in the quarter surged 16.3% to $35.6 million or 63 cents a diluted share compared to $30.6 million or 53 cents from a same quarter last year.

Johnson & Johnson (JNJ) slipped 1.2% or $1.18 to $97.93 after the health care products maker reported sales in the third-quarter ending in September jumped 5.1% to $18.5 billion from a year ago period.

Net earnings in the quarter soared 59.3% to $4.75 billion or $1.66 a diluted share compared to $2.98 billion or $1.04 from a same quarter last year.

The company said worldwide pharmaceutical sales in the quarter climbed 18.1% to $8.31 billion but consumer sales dropped 0.6% to $3.6 billion. Medical devices and diagnostics sales declined 5.2% to $6.57 billion.

JPMorgan Chase & Co (JPM) slipped 53 cents to $57.64 after the banking and financial service provider said revenue in the third-quarter ending in September advanced 5% to $25.2 billion from a year ago period.

Net in the quarter swung to profit $5.6 billion or $1.36 a diluted share compared to a loss of $0.4 billion or 17 cents from a same quarter last year.

J.B. Hunt Transport Services, Inc (JBHT) climbed 5.6% or $3.97 to $75.27 after the transportation and delivery service stated total revenue in the third-quarter ending in September soared 11.9% to $1.60 billion form a year ago period.

Net income in the quarter soared 14.4% to $102.4 million or 87 cents a diluted share compared to $89.5 million or 75 cents from a same quarter last year.

Wells Fargo & Co (WFC) fell 44 cents to $49.75 after the brokerage and investment group reported revenue in the third-quarter ending in September climbed 4% to $21.2 billion from a year ago period.

Net income in the quarter jumped 3% to $5.7 billion or $1.02 a diluted share compared to $5.6 billion or 99 cents from a same quarter last year.

Wolverine World Wide, Inc (WWW) jumped 4.9% or $1.20 to $25.85 after the casual footwear and apparel maker said revenue in the third-quarter ending on September 6 slipped 0.8% to $711.1 million from a year ago period.

Net earnings in the quarter climbed 6.3% to $57.8 million or 57 cents a diluted share compared to $54.4 million or 54 cents from a 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