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Market Update

MasterCard Profit Surges; Colgate and Chevron Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 11:39 AM ET January 29 2016

11:35 AM New York – American Airlines net surged but revenues fell. Colgate-Palmolive and Chevron net swung to a loss after sales declined. Honeywell net soared 25%. MasterCard profit surged 11%. Phillips 66 net and revenues tumbled. Seagate net tumbled 82%. Whirlpool net jumped.

Tollbooth Index jumped 174.72 or 1.7% to 10,234.30.

Earnings Review

American Airlines Group Inc (AAL) slipped 1.9% or 73 cents to $37.41 after the airline operator said revenues in the fourth-quarter ending in December dropped 5.2% from a year ago to $9.6 billion.

Net income in the quarter surged to $3.28 billion or $5.09 per diluted share compared to $597 million or 82 cents per share from the same quarter last year.

The airline company said increased net income, including $3 billion net special credit resulting from the reversal of the Company’s tax valuation allowance.

Colgate-Palmolive Company (CL) slid 18 cents to $64.84 after the consumer products maker reported revenues in the fourth-quarter ending in December declined 7.5% from a year ago to $3.90 billion.

Net in the quarter swung to a loss of $458 million or 51 cents per diluted share compared to profit of $628 million or 68 cents per share from the same quarter last year.

Colgate said net sales in North America increased 1% while net sales Latin America declined 12% and net sales in Europe/South Pacific region plunged 14.5%.

Net sales in Asia dropped 5% while net sales in Africa/Eurasia Net sales tumbled 16.5%.

Chevron Corporation (CVX) fell 71 cents to $85.21 after the second largest oil explorer and refiner stated revenues in the fourth-quarter ending in December tumbled 36.7% from a year ago to $29.2 billion.

Net in the quarter swung to a loss of $588 million or 31 cents per diluted share compared to profit of $3.47 billion or $1.85 per share from the same quarter last year.

Honeywell International Inc (HON) jumped 4.2% or $4.10 to $102.01 after the industrial conglomerates reported revenues in the fourth-quarter ending in December slumped 3% from a year ago to $9.98 billion.

Net income in the quarter soared 24.5% to $1.2 billion or $1.53 per diluted share compared to $975 million or $1.20 per share from the same quarter last year.

MasterCard Inc (MA) increased 3.4% or $2.89 to $86.29 after the electronic payment services provider stated net revenues in the fourth-quarter ending in December rose 4% from a year ago to $2.5 billion.

Net income in the quarter surged 11% to $890 million or 79 cents per diluted share compared to $801 million or 69 cents per share from the same quarter last year.

The company said worldwide purchase volume in the quarter soared 12% to $883 billion on a local currency basis from a year ago period and in the year, the customers had issued MasterCard and Maestro-branded cards of about 2.3 billion.

Phillips 66 (PSX) declined 3.2% or $2.51 to $76.19 after the midstream refining and marketing company said total revenues in the fourth-quarter ending in December plummeted 38.1% from a year ago to $22.03 billion.

Net income in the quarter tumbled 43.5% to $650 million or $1.20 per diluted share compared to $1.15 billion or $2.05 per share from the same quarter last year.

PACCAR Inc (PCAR) slid 29 cents to $47.07 after the heavy-duty commercial trucks maker stated revenues in the fourth-quarter ending in December fell 14.6% from a year ago to $4.1 billion.

Net income in the quarter slumped 11.9% to $347.2 million or 98 cents per diluted share compared to $394.3 billion or $1.11 per share from the same quarter last year.

Seagate Technology Plc (STX) surged 12.2% or $3.27 to $30.03 after the Ireland-based data storage products maker said revenues in the second-quarter ending in December plunged 18.9% from a year ago to $3 billion.

Net income in the quarter tumbled 82.3% to $165 million or 55 cents per diluted share compared to $933 million or $2.78 per share from the same quarter last year.

Whirlpool Corporation (WHR) advanced 3.2% or $4.10 to $136.12 after the home appliances maker reported net sales in the fourth-quarter ending in December dropped 6.7% from a year ago to $5.6 billion.

Net income in the quarter jumped 122% to $180 million or $2.28 per diluted share compared to $81 million or $1.02 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