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Market Update

SUVs Drives July U.S. Auto Sales Higher, Tyson Plunges


Author: Mukesh Buch
ticker.com
Last Update: 12:24 PM ET August 03 2015

12:15 PM New York – Clorox net soared 12%. CDW profit surged 25%. Ford, Fiat Chrysler, GM sales in July climbed. Loews profit climbed 47% but revenues dropped 4%.Mercury General net tumbled 90% on 10% decline in revenues. Tyson Foods net surged 32%.

Tollbooth Index edged up 8.61 to 10,838.48.

Earnings Review

Clorox Co (CLX) gained 1.7% or $1.95 to $113.89 after the consumer and professional products maker reported sales in the second-quarter ending in June jumped 4% to $1.56 billion form a year ago period.

Net income in the quarter soared 12.4% to $191 million or $1.46 per diluted share compared to $170 million or $1.29 from the same quarter last year.

CDW Corporation (CDW) soared 6.4% or $2.32 to $38.25 after the cloud-based information technology provider stated sales in the second-quarter ending in June climbed 6.7% to $3.31 billion form a year ago period.

Net income in the quarter surged 24.9% to $108.2 million or 63 cents per diluted share compared to $86.6 million or 50 cents from the same quarter last year.

CNA Financial Corp (CNA) slipped 1.8% or 73 cents to $38.89 after the insurance company said net written premium in the second-quarter ending in June nearly flat at $1.64 billion from a year ago period.

Net income in the quarter increased 6.6% to $241 million or 51 cents per diluted share compared to $266 million or 98 cents from the same quarter last year.

Ford Motor Company (F) gained 1.3% or 19 cents to $15.02 after the auto maker said U.S. Sales in July jumped 4.9% to 222,731 vehicles from 212,236 vehicles in a year ago month.

Passenger car sales in the month dropped 3.9% to 66,004 units, truck sales climbed 5.7% to 83,095 units and utilities sales surged 13.4% to 73,632 units. Sales in Lincoln surged 21.3% to 9,536 units.

SUV sales soared 11% to 67,282, delivering the best July sales results since 2005 and Escape sales jumped 10% to 29,253 vehicles sold, represented all-time July sales.

Fiat Chrysler Automobiles NV jumped 3.1% or 50 cents to $16.30 after the auto maker reported U.S. sales in July soared 6% to 178,027 units compared to 167,667 units in a year ago month and the group’s best July sales since 2005.

Fiat Chrysler added Jeep brand sales surged 23% to 73,216 units; the best July sales ever and Chrysler 200 sales climbed 85% to 15,108 units.

Sales in RAM brand in the month rose 1% to 38,157 units while Fiat brand sales plunged 15% to 3,235 units Dodge brand sales declined 13% to 37,649 units.

General Motors Company GM)) rose 21 cents to $31.72 after the passenger car maker said total U.S. vehicle sales in July climbed 6.4% to 272,512 units from 256,160 units in a year ago month.

GM said retail sales in the month soared 14% and 18% increase in Buick sales and pickup deliveries were up 51% while fleet deliveries in July were declined 20%.

Loews Corporation (L) dropped 2.4% or 93 cents to $37.19 after the property and casualty insurance company reported sales in the second-quarter ending in June dropped 4.4% to $3.43 billion form a year ago period.

Net income in the quarter climbed 46.5% to $170 million or 46 cents per diluted share compared to $116 million or 30 cents from the same quarter last year.

Mercury General Corporation (MCY) slumped 2.6% or $1.49 to $54.91 after the insurance company said total revenues in the second-quarter ending in June declined 10% to $726.2 million from a year ago period.

Net income in the quarter tumbled 89.8% to $9.64 million or 17 cents per diluted share compared to $94.9 million or $1.73 from the same quarter last year.

Tyson Foods, Inc (TSN) plunged 9.6% or $4.26 to $40.09 after the food processing company reported sales in the third-quarter ending in June increased 4% to $10.07 billion form a year ago period.

Net income in the quarter surged 31.9% to $343 million or 83 cents per diluted share compared to $260 million or 73 cents from the same quarter last year.

The company forecasted sales for the fiscal 2015 and 2016 each of about $41 billion.

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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