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Market Update

U.S. July Auto Sales Climb; LinkedIn, Procter & Gamble Soar


Author: Mukesh Buch
ticker.com
Last Update: 12:43 PM ET August 01 2014

12:15 PM New York Ė Chevron second-quarter net climbed 6% to $5.7 billion. Clorox fourth-quarter net declined 7% to $170 million. Graham Holdings second-quarter net surged 50% to $750 million. LinkedIn second-quarter net swung to a loss $1 million. Procter & Gamble fourth-quarter net surged 38% to $2.6 billion.

Tollbooth Index dropped 0.7% or 65.51 to 9,224.72.

Earnings Review

Chevron Corporation (CVX) slipped 1.3% or $1.75 to $127.51 after the petroleum refiner reported total revenue in the second-quarter ending in June rose 1% to $57.94 billion from a year ago period.

Net income in the quarter climbed 5.8% to $5.67 billion or $2.98 a diluted share compared to $5.36 billion or $2.77 from a same quarter last year.

The Clorox Co (CLX) gained 1.2% or $1.02 to $87.89 after the consumer and professional products maker reported sales in the fourth-quarter fell 2% to $1.51 billion from a year ago period.

Net income in the quarter declined 7.1% to $170 million or $1.29 a diluted share compared to $183 million or $1.37 from a same quarter last year.

Chrysler Group LLC, the carmaker reported sales surged 20% to 167,667 units from 140,102 units from a year ago month and the groupís best July sales since 2005.

Jeep brand sales soared 41% to 59,588 units from 42,277 units a year earlier and the best brandís sales of July, the largest sales gain of group brand and its best ever July sales.

Ford Motor Company (F) dropped 1.5% or 25 cents to $16.77 after the automobile company said U.S. sales in July soared 10% to 212,236 vehicles from a year ago month, the best July in eight years and retail sales climbed 7% to 162,028 vehicles.

Ford added a record July sales in Fusion surged 17% to 23,942 cars and sales of brand Explorer jumped 32% to 16,797 vehicles and Escape posted best July sales with a 19% increase. Fusion sales soared 16.7% to 23,942 vehicles.

General Motors Company (GM) slumped 1.4% or 46 cents to $33.36 after the cars and trucks maker said July sales climbed 9.4% to 256,160 units from a year earlier and best July sales since 2007.

During July, GM sold 100,122 crossovers and SUVs total to 587,250 units the best month for utility vehicle sales since August 2007.

Graham Holdings Co (GHC) gained $2.59 to $688.34 after the diversified education and media group said total revenue in the second-quarter ending in June slid 0.2% to $547.2 million from a year ago period.

Net income in the quarter surged 50% to $750.1 million or $100.48 a diluted share compared to $44.7 million or $6.02 from a same quarter last year.

LinkedIn Corporation (LNKD) surged 9.5% or $17.22 to $197.72 after the professional network service provider stated total revenues in the second-quarter ending in June surged 47% to $534 million from a year ago period.

Net in the quarter swung to loss $1.0 billion or 1 cent a diluted share compared to net income of $3.7 million or 3 cents from a same quarter last year.

The Procter & Gamble Company (PG) soared 4.2% or $3.24 to $80.56 after the consumer packaged goods reported net sales in the fourth-quarter ending in June dropped 1% to $20.16 billion from a year ago period.

Net income in the quarter surged 38% to $2.58 billion or 89 cents a diluted share compared to $1.88 billion or 64 cents from a same quarter last year.

The Western Union Company (WU) dropped 2.6% or 46 cents to $17 after the payment service provider said total revenues in the second-quarter ending in June increased 1% to $1.41 billion from a year ago period.

Net income in the quarter fell 2% to $194 million or 36 cents a diluted share compared to $199 million or 36 cents from a 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