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Market Update

Lowe's in $2.3 B Deal with Rona; Comcast Net Jumps, Merck Profit Drops


Author: Mukesh Buch
ticker.com
Last Update: 2:10 PM ET February 03 2016

2:00 PM New York Becton Dickinson net fell 3% but revenues soared 46%. Comcast net rose 3%. Exelon profit surged while revenues declined 8%. GM net surged. International Paper net soared 33%. Lowe''s agreed to acquire Canada-based Rona for $2.3 billion. Merck profit tumbled 87%.

Tollbooth Index slipped 62.83 or 0.6% to 10,172.98.

Earnings Review

Becton Dickinson and Co (BDX) dropped 3.3% or $4.79 to $140.26 after the medical devices maker said revenues in the first-quarter ending in December soared 45.9% from a year ago to $2.99 billion.

Net income in the quarter fell 2.9% to $229 million or $1.06 per diluted share compared to $236 million or $1.20 per share from the same quarter last year.

Comcast Corporation (CMCSA) increased 2.7% or $1.45 to $56.02 after the internet and broadcasting company reported revenues in the fourth-quarter ending in December jumped 8.5% from a year ago to $19.25 billion.

Net income in the quarter rose 2.6% to $1.97 billion or 79 cents per diluted share compared to $1.93 billion or 74 cents per share from the same quarter last year.

Exelon Corporation (EXC) jumped 3.1% or 92 cents to $31.07 after the utility services provider said revenues in the fourth-quarter ending in December declined 7.6% from a year ago to $6.70 billion.

Net income in the quarter surged to $309 million or 33 cents per diluted share compared to $18 million or 2 cents per share from the same quarter last year.

General Motors Company (GM) dropped 3.2% or $1 to $28.65 after the automaker reported revenues in the fourth-quarter ending in December were flat from a year ago to $39.6 billion.

Net income in the quarter surged to $6.3 billion or $3.92 per diluted share compared to $1.1 billion or 66 cents per share from the same quarter last year.

International Paper Co (IP) rose 10 cents to $33.97 after the paper and packaging company stated revenues in the fourth-quarter ending in December slumped 8.4% from a year ago to $5.44 billion.

Net income in the quarter soared 32.8% to $178 million or 43 cents per diluted share compared to $134 million or 32 cents per share from the same quarter last year.

Lowe''s Companies, Inc (LOW) plunged 7% or $5.06 to $66.81 after the home improvement retailer agreed to acquire Canada-based smaller rival Rona Inc for about C$3.2 billion or $2.28 billion.

Merck & Co., Inc (MRK) decreased 1.9% or 92 cents to $49.46 after the health care company reported revenues in the fourth-quarter ending in December fell 3% from a year ago to $10.22 billion.

Net income in the quarter tumbled 86.7% to $976 million or 35 cents per diluted share compared to $7.32 billion or $2.54 per share from the same quarter last year.

Marathon Petroleum Corp (MPC) plunged 8.7% or $3.51 to $36.76 after the petroleum refiner said revenues in the fourth-quarter ending in December plummeted 29.6% from a year ago to $15.61 billion.

Net income in the quarter declined 76.6% to $187 million or 35 cents per diluted share compared to $798 million or $1.43 per share from 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