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Market Update

U.S. Movers: Abbott, BofA, CSX, Intel, Linear Tech, Yahoo


Author: Mukesh Buch
ticker.com
Last Update: 11:10 AM ET April 17 2013

11:10 AM New York Abbott first quarter net plunged 56% and BofA net surged to $2.26 billion. Intel net plunged 25% to $2.04 billion. Linear third quarter jumped 13%. Bank of New York first quarter net swung to $266 million loss. Yahoo first quarter net jumped 92% to $390 million.

Abbott Laboratories (ABT) climbed 2.5% or 90 cents to $37.31 after the health care company said total revenue in the first quarter ending in March increased 2% to $5.4 billion. Net earnings in the quarter plunged 56% to $544 million or 34 cents a diluted share compared to $1.24 billion or 78 cents.

For the full year, the Abbott expects diluted earnings per share in the range of $1.98 to $2.04.

For the second quarter, the health care expects diluted earnings per share between $0.43 and $0.45.

Bank of America Corporation (BAC) declined 4.4% or 55 cents to $11.72 after the financial service provider reported total revenue in the first quarter ending in March increased 5% to $23.71 billion. Net earnings in the quarter surged more than six-fold to $2.26 billion or 20 cents a diluted share compared to $328 million or 3 cents.

CSX Corporation (CSX) dropped 2.6% or 63 cents to $23.50 after the transportation supplier reported revenue in the first quarter ending in March nearly flat at $3 billion. Net earnings in the quarter increased 2% to $459 million or 45 cents a diluted share compared to $449 million or 43 cents.

Intel Corporation (INTC) slipped 1.2% or 27 cents to $21.64 after the chip maker stated revenue in the first quarter ending in March slipped 2% to $12.6 billion. Net income in the quarter plunged 25% to $2.04 billion or 40 cents a diluted share compared to $2.74 billion or 53 cents.

The company added gross profit in the quarter plunged 9% to $7.1 billion.

Intel expects second quarter revenue to be $12.9 billion, plus or minus $500 million.

Linear Technology Corporation (LLTC) plunged 5.5% or $2.02 to $34.65 after the circuits maker said revenue in the third quarter ending in March rose 0.6% to $314.5 million. Net income in the quarter jumped 13% to $111 million or 46 cents a diluted share compared to $98.5 million or 42 cents.

The company said operating income in the quarter fell 0.7% to $138 billion.

Northern Trust Corporation (NTRS) fell 1% or 58 cents to $52.82 after the financial company reported revenue in the third quarter ending in March grew 1% to $976.4 million. Net income in the quarter increased 2% to $164 million or 67 cents a diluted share compared to $161 million or 66 cents.

The Bank of New York Mellon Corporation (BK) slumped 3.1% or 87 cents to $26.89 after the financial services company said revenue in the first quarter ending in March declined 1% to $3.61 billion. In the quarter net loss swung to $266 million or 23 cents a diluted share compared to net income $619 million or 52 cents.

United Rentals, Inc (URI) slid 3% or $1.60 to $50.61 after the holding company reported total revenue in the first quarter ending in March surged 67% to $1.10 billion. Net income in the quarter jumped 92% to $21 million or 19 cents a diluted share compared to $13 million or 17 cents.

The company added gross profit in the quarter climbed 81% to $385 million.

Yahoo! Inc. (YHOO) fell 0.7% or 17 cents to $23.62 after the media company stated revenue in the first quarter ending in March tumbled 7% to $1.14 billion. Net income in the quarter jumped 92% to $390 million or 35 cents a diluted share compared to $286 million or 23 cents.

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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