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Market Update

U.S. Movers: 3M, AT&T, Boeing, FactSet, KKR, Sanderson Farms


Author: Mukesh Buch
ticker.com
Last Update: 12:08 PM ET December 17 2013

11:45 AM New York 3M lifted its quarterly dividend by 35%. AT&T sold its landline business in Connecticut for $2 billion. Boeing raised quarterly dividend by 50%. FactSet Research net jumped 5%. KKR agree to buy KKR Financial for $2.6 billion.

3M Co (MMM) jumped 2.2% or $2.82 to $130.48 after the diversified technology company provided earnings per share guidance for the year between $7.30 and 7.55 and revenue guidance of organic local currency sales in the range of 3% to 6% compared to consensus revenue estimate of $32.64 billion.

The company raised its quarterly dividend by 35%.

AT&T Inc. (T) fell 28 cents to $33.86 after the telecom service provider agreed to sell its landline business in Connecticut and state wide fibre-optic network to Frontier Communications Corp.

Frontier will pay $2 billion in cash for the business and related assets. Shares of Frontier Communications Corp surged 8.2% to $4.76.

The Boeing Company (BA) increased $1.27 to $135.96 after the aerospace company raised quarterly dividend by 50% and approved $10 billion in new share buyback authority that the company will use in next two to three years.

FactSet Research Systems Inc. ((FDS), the financial information provider reported total revenues in the first-quarter ending in November advanced 6% to $223 million. Net income in the quarter rose 4.8% to $52.2 million or $1.19 a diluted share compared to $49.8 million or $1.11.

Facebook Inc (FB) gained 1.4% or 74 cents to $54.55 and the social network services provider plans to sell video advertisements later this week, according to a report in Wall Street Journal.

KKR & Co. L.P dropped 3.2% or 83 cents to $24.25 after the investment company agreed to acquire KKR Financial Holdings LLC for approximately $2.6 billion. Under the terms, the company''s shareholders will receive 0.51 KKR & Co. shares. The total value the company is estimated at approximately $2.6 billion.

Sanderson Farms, Inc. (SAFM), the poultry processing company said net sales in the fourth-quarter ending in October climbed 12% to $727.1 million. Net income in the quarter surged 387% to $45.3 million or $1.97 a diluted share compared to $9.3 million or 41 cents.

Zoltek Companies, Inc (ZOLT) rose 1 cent to $16.74 after the carbon and technical fibers maker said net sales in the fourth-quarter ending in September dropped $41 million from $44.2 million a year ago period.

Net in the quarter swung to a loss of $0.2 million compared to a net income of $4.25 million or 13 cents per share a year ago.

Zoltek said net sales in the year declined 25% to $140.5 million from $186.3 million a year earlier.

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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