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Market Update

MasterCard Rises on Transaction Volumes, Pfizer Profit Doubled


Author: Mukesh Buch
ticker.com
Last Update: 1:07 PM EDT October 31 2017

11:45 PM New York Aetna lifted fiscal outlook. Archer Daniels net tumbled on weak export. American Tower net soared 26%. Cummins dropped on weaker margins despite profit surged. Kellogg beat third-quarter results. MasterCard net grew on higher transaction volumes. Pfizer net doubled.

Tollbooth Index edged down 4.11 to 13,066.31.

Earnings Review

Aetna Inc (AET) slipped 95 cents to $170.28 after the diversified healthcare services provider reported revenues in the third-quarter ending in September declined 5% from a year ago to $15 billion.

Net income in the quarter surged 38.7% to $838 million from $604 million in the same quarter last year.

Aetna lifted full-year earnings per share estimate to $9.75 from the earlier forecast of $9.45 to $9.55 per share.

Archer Daniels Midland Company (ADM) declined 5.1% or $2.19 to $40.62 after the food processing services provider said revenues in the third-quarter ending in September slumped 6.3% from a year ago to $14.8 billion.

Net income in the quarter tumbled 43.7% to $192 million or 34 cents per diluted share from $341 million or 58 cents in the same quarter last year.

American Tower Corp (AMT) fell $1.37 to $141.50 after the communications towers developer stated total revenues in the third-quarter ending in September jumped 11% from a year ago to $1.7 billion.

Net income in the quarter soared 25.5% to $298.4 million or 69 cents per diluted share from $237.7 million or 55 cents in the same quarter last year.

Cummins Inc (CMI) slumped 2.9% or $5.20 to $175.15 after the diesel and natural gas engines maker reported revenues in the third-quarter ending in September jumped 26% from a year ago to $5.3 billion.

Net income in the quarter soared 56.7% to $453 million or $2.71 per diluted share from $289 million or $1.72 in the same quarter last year.

Cummins lifted full-year 2017 revenues estimate to jump between 14% and 15% from the earlier estimate of 9% to 11% increase.

Kellogg Company (K) jumped 6.1% or $3.56 to $62.43 after the ready-to-eat cereal and convenience foods maker said revenues in the third-quarter ending in September grew 0.6% from a year ago to $3.3 billion.

Net income in the quarter rose 1.7%% to $297 million or 85 cents per diluted share from $292 million or 82 cents in the same quarter last year.

MasterCard Inc (M) fell 1.3% or $1.95 to $147 after the electronic payment solution provider reported revenues in the third-quarter ending in September soared 18% from a year ago to $3.4 billion.

Net income in the quarter rose 1.7% to $1.4 billion or $1.34 per diluted share from $1.2 billion or $1.08 in the same quarter last year.

Pfizer Inc (PFE) fell 26 cents to $34.89 after the healthcare products maker said revenues in the third-quarter ending in September rose 1% from a year ago to $13.2 billion.

Net income in the quarter doubled to $2.8 billion or 47 cents per diluted share from $1.4 billion or 22 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