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Market Update

U.S. Movers: AIG Net Soars; Chrysler, Ford, GM, Toyota Sales Climb


Author: Mukesh Buch
ticker.com
Last Update: 12:10 PM ET November 01 2013

12:10 PM New York – AIG revenue declined 11% but net surged 17%. Chrysler sales soared 11%. Ford reported record October sales since 2004 and GM October sales jumped 16%. Church & Dwight net climbed 15%. NV Energy net dropped 16%.

American International Group, Inc. (AIG) plunged 6.5% or $3.33 to $48.32 after the insurance company reported total revenue in the third-quarter ending in September declined 11.4% to $14.8 billion. Net income in the quarter surged 16.8% to $2.17 billion or $1.46 a diluted share compared to $31.6 million or $1.13.

The insurer added shareholder’s equity at the quarter ended totaled $98.8 billion and AIG Parent liquidity sources amounted nearly $16.9 billion.

Church & Dwight Co. (CHD) slid 0.4% or 28 cents to $64.87 after the household products maker reported net sales in the third-quarter ending in September jumped 11% to $804.8 million. Net income in the quarter climbed 14.9% to $107.9 million or 76 cents a diluted share compared to $93.9 million or 66 cents.

Chrysler Group LLC, the automobile company reported October sales soared 11% to 140,083 from 126,185 units a year ago, 43rd consecutive monthly increase in sales and six vehicles set sales record monthly.

Chrysler brand sales were up 6%, the brand’s best October sales performance since 2007.

First Solar, Inc (FSLR) surged 16.8% or $8.44 to $58.75 after the photovoltaic solar modules maker said net sales in the third-quarter ending in September soared 99.8% to $1.27 billion. Net income in the quarter surged 121.8% to $195 million or $1.94 a diluted share compared to $87.9 million or $1 a share.

The company lowered its guidance of net sales for the year in the range of $3.4 billion to $3.6 billion from earlier estimated to between $3.6 billion and $3.8 billion and earnings per share to climb in the range of $4.25 to $4.50 from $3.75 to $4.25.

Ford Motor Company (F) fell 8 cents to $17.03 after the auto maker reported October total sales climbed 14% and retail sales jumped 15% to 142,487 vehicles, company’s best October retail sales since 2004.

Ford added Fusion sales surged 71% to 21,740 units and Fiesta soared 9% to 4,337 units. Trucks sales in F-Series totaled 60,000 units record for sixth-straight month. Escape sales jumped 12% to 22,253 units.

General Motors Company (GM) jumped 2.1% or 79 cents to $37.75 after the automobile company said October retail sales were jumped 16% to 226,402 vehicles in the United States and fleet sales soared 14%. Buick total sales climbed 31% and sales in Chevrolet surged 15%.

All Vehicles sales in the month jumped to 727,812 units and retail sales increased to 670,191 units a year ago month.

NV Energy, Inc. (NVE) rose 0.1% or 3 cents to $23.77 after the energy company said net revenues in the third-quarter ending in September fell 2% to $1.01 billion. Net income in the quarter dropped 16.1% to $187.2 million or 79 cents a diluted share compared to $223.2 million or 94 cents.

Northeast Utilities System (NU) slipped 1% or 44 cents or $42.46 after the energy company reported net revenues in the third-quarter ending in September grew 2% to $1.89 billion. Net earnings in the quarter rose 0.9% to $209.5 million or 66 cents a diluted share compared to $207.6 million or 66 cents.

Southwestern Energy Company (SWN) grew 0.8% or 32 cents to $37.56 after the natural gas and oil explorer said net revenues in the third-quarter ending in September surged 26% to $868.4 million. Net in the quarter swung to a profit $185.9 million or 53 cent a diluted share compared to a loss of $54.1 million or 16 cents.

The Washington Post Company (WPO) rose 0.3% or $1.68 to $645 after education and media group stated revenue in the third-quarter ending in September rose 3% to $902.5 million. Net income in the quarter plunged 70% to $30.1 million or $4.05 a diluted share compared to $93.8 million or $12.64.

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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