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Market Update

U.S. Movers: 3M, Altria, Celgene, Colgate, Ford, McKessonm, Raytheon


Author: Mukesh Buch
ticker.com
Last Update: 12:18 PM ET October 24 2013

12:15 PM New York 3M net jumped 6% as sales climbed 7%. Altria net surged 112%. Celgene net plunged 12%. Colgate net soared 20%. Ford net declined 1% but sales jumped 12%. McKesson agreed to acquire Germany-based Celesio for $8.3 billion.

3M Company (MMM) gained 80 cents to $124 after the technology company reported sales in third-quarter ending in September advanced 7% to $7.9 billion. Net income in the quarter jumped 6% to $1.23 billion or $1.81 a diluted share compared to $1.16 billion or $1.68.

Altria Group, Inc. (MO) fell 12 cents to $36.26 after the tobacco products maker said net revenues in third-quarter ending in September advanced 5% to $6.6 billion. Net income in the quarter surged 112% to $1.40 billion or 70 cents a diluted share compared to $657 million or 32 cents.

Celgene Corporation (CELG) slipped 1.5% or $2.39 to $157.65 after the biopharmaceutical company stated total revenue in the third-quarter ending in September climbed 18% to $1.67 billion. Net income in the quarter plunged 12% to $372.5 million or 87 cents a diluted share compared to $424.2 million or 97 cents.

Colgate-Palmolive Company (CL) dropped 36 cents to $63.11 after the consumer products maker reported net sales in the third-quarter ending in September grew 1.5% to $4.4 billion. Net income in the quarter rose 0.3% to $656 million or 70 cents a diluted share compared to $654 million or 68 cents.

The Dow Chemical Company (DOW) declined 2% or $1.13 to $39.91 after the chemical company said revenues in the third-quarter ending in September increased 0.7% to $13.7 billion. Net income in the quarter soared 20% to $594 million or 49 cents a diluted share compared to $497 million or 42 cents.

Ford Motor Company (F) gained 1.3% or 22 cents to $17.74 after the automotive company reported revenue in the third-quarter ending in September jumped 12.1% to $36 billion. Net income in the quarter declined 1% to $1.27 billion or 31 cents a diluted share compared to $1.63 billion or 41 cents

Ford raised its full-year guidance, and estimated pre-tax profit to meet or exceed earnings in 2012.

McKesson Corporation (MCK) jumped 4.3% or $6.13 to $149.18 after the healthcare information technology provider reported revenue in the second-quarter ending in September jumped 11% to $33 billion.

Net income in the quarter rose 1% to $404 million or $1.74 a diluted share compared to $401 million or $1.67.

The company added medical-surgical distribution and services revenues surged 68% and technology solutions revenues jumped 8%.

Separately, the company agreed to acquire Germany-based Celesio AG for 23 per share and will start tender offer for the price at 23 per share, 39% premium of remaining shares in a deal valued $8.3 billion or 6.1 billion.

The company lifted its full-year guidance between $8.40 and $8.70 a share from earlier forecast of $8.05 to $8.35 a share.

Noble Energy, Inc. (NBL) climbed 5.9% or $4.23 to $75.58 after the energy company stated total revenues in the third-quarter ending in September surged 38% to $1.39 billion. Net income in the quarter declined 9% to $201 million or 56 cents a diluted share compared to $221 million or 61 cents.

Raytheon Company (RTN) slumped 1.8% or $1.45 to $77.04 after the technology company reported net sales in the third-quarter ending in September slipped 3% to $5.84 billion. Net income in the quarter dropped 2% to $489 million or $1.51 a diluted share compared to $500 million or $1.50.

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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