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Market Update

Microsoft Cautiously Optimistic; Amazon, Ford, Visa Fall


Author: Manish Shah
ticker.com
Last Update: 1:55 PM ET April 25 2014

12:10 PM New York American Electric Power net surged 54%. Amazon net climbed 32% and sales soared 23%. Colgate-Palmolive net plunged 16%. Ford net tumbled 39%. Microsoft net declined 32%. Starbucks net and sales climbed 9%. Visa profit soared 26%.

American Electric Power Company Inc (AEP) increased 52 cents to $52.85 after the electric utility company said revenue in the first-quarter ending in March climbed 21% to $4.6 billion.

Net income in the quarter surged 54.3% to $560 million or $1.15 a diluted share compared to $363 million or 75 cents.

Amazon.com, Inc (AMZN) plunged 9.6% or $32.20 to $304.95 after the e-retailer reported net sales in the first-quarter ending in March soared 23% to $19.74 billion.

Net income in the quarter climbed 31.7% to $108 million or 23 cents a diluted share compared to $82 million or 18 cents.

The retailer said net sales in the second-quarter are expected between $18.1 billion and $19.8 billion or to increase in the range of 15% to 26% from second-quarter 2013.

Colgate-Palmolive Company (CL) rose 11 cents to $66.54 after the consumer products maker said net sales in the first-quarter ending in March was flat at $4.32 billion.

Net income in the quarter plunged 15.6% to $388 million or 42 cents a diluted share compared to $460 million or 48 cents.

Ford Motor Company (F) declined 3% or 49 cents to $15.83 after the automobile company reported revenue in the first-quarter ending in March rose 0.8% to $35.9 billion.

Net income in the quarter tumbled 38.6% to $989 million or 24 cents a diluted share compared to $1.61 billion or 40 cents.

The company said results were adversely affected by several significant factors including safety recalls and other product campaigns and weather-related costs.

Ford affirmed its pre-tax profit forecast for the year between $7 billion and $8 billion as it launches 23 new global vehicles.

Microsoft Corporation (MSFT) slid 5 cents to $39.81 after the software developer reported revenue in the third-quarter ending in March fell 0.4% to $20.40 billion.

Net income in the quarter declined 31.7% to $5.66 billion or 68 cents a diluted share compared to $6.05 billion or 72 cents.

Separately today Microsoft said it has completed acquisition of the Nokia devices and services business after completion of all regulatory approvals around the world.

Starbucks Corporation (SBUX) gained 22 cents to $71.30 after the coffee and fresh food retailer operator stated revenue in the second-quarter ending in March climbed 9.1% to $3.87 billion.

Global comparable store sales in the quarter jumped 6%, Americas and U.S. comparable sales rose 6% and China/Asia Pacific comparable sales increased 7%.

Net income in the quarter climbed 9.4% to $427 million or 56 cents a diluted share compared to $390.4 million or 51 cents.

Visa Inc (V) declined 4% or $8.38 to $200.99 after the payments processor reported revenue in the second-quarter ending in March jumped 6.7% to $3.16 billion.

Net income in the quarter soared 26% to $1.60 billion or $2.52 a diluted share compared to $1.27 billion or $1.92.

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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