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Market Update

U.S. Movers: Aetna, Air Products, Apple, Cummins, Pfizer, Thomson Reuters


Author: Mukesh Buch
ticker.com
Last Update: 11:48 AM ET October 29 2013

12:15 PM New York Aetna net grew 4% after sales surged 46%. Air Products net slid 1%. Apple net dropped 9% but revenue jumped 4%. Cummins plunged after net edged up. Johnson Controls net swung to profit. Pfizer jumped 19% and Thomson Reuters net plunged 38%.

Aetna Inc. (AET) fell 1.8% or $1.09 to $60.70 after the health insurance provider reported total revenues in the third-quarter ending in September surged 46% to $13.04 billion. Net income in the quarter grew 4% to $518.6 million or $1.38 a diluted share compared to $499.2 million or $1.47.

Air Products and Chemicals, Inc (APD) slid 75 cents to $108.79 after the chemical company stated revenues in the fourth-quarter ending in September fell 0.8% to $2.59 billion. Net income in the quarter decreased 1% to $137.1 million or 64 cents a diluted share compared to $138.7 million or 65 cents.

AMETEK, Inc. (AME) climbed 3.6% or $1.64 to $47.76 after the electronic instruments maker said net sales in the fourth-quarter ending in September advanced 6% to $890 million. Net income in the quarter climbed 11% to $127.8 million or 52 cents a diluted share compared to $115.4 million or 48 cents.

Apple Inc. (AAPL) slid $3.56 to $526.32 after the computer and gadgets maker reported revenue in the fourth-quarter ending on September 28 jumped 4.2% to $37.5 billion. Net income in the quarter dropped 8.6% to $7.51 billion or $8.26 a diluted share compared to $8.22 billion or $8.67.

For the quarter, the company sold 33.8 million iPhones compared to 26.9 million in the year-ago quarter and sold 14.1 million iPads. The Company sold 4.6 million Macs, compared to 4.9 million in the year-ago quarter.

Apple estimated first-quarter revenue between $55 billion and $58 billion.

Cummins Inc. (CMI) plunged 8.9% or $11.93 to $122.98 after the diesel engine maker reported revenues in the third-quarter ending in September gained 4% to $4.3 billion. Net income in the quarter added 0.9% to $355 million or $1.90 a diluted share compared to $352 million or $1.86.

Johnson Controls Inc (JCI) jumped 2.3% or 99 cents to $43.81 after the automotive parts maker reported revenue in the fourth-quarter ending in September climbed 6% $11 billion. Net in the quarter swung to a profit $105 million or 15 cents a diluted share compared to a loss of $8 million or 1 cent.

For the first quarter of 2014, the company expected earnings to increase nearly 30%.

L-3 Communications Holdings, Inc (LLL) slipped 1.3% or $1.31 to $95.79 after the aerospace and defense contractor said net sales in the third-quarter ending on September 27 declined 8.7% to $3 billion. Net income in the quarter jumped 5.7% to $204 million or $2.23 a diluted share compared to $192 million or $1.97.

Pfizer Inc. (PFE) gained 1.8% or 48 cents to $31.22 after the biopharmaceutical company stated revenues in the third-quarter ending in September rose 2% to $12.6 billion. Net income in the quarter jumped 19% to $2.59 billion or 39 cents a diluted share compared to $3.21 billion or 43 cents.

Thomson Reuters Corporation (TRI) jumped 2.2% or 80 cents to $36.51 after the financial information provider said revenues in the third-quarter ending in September slid 3% to $3.09 billion. Net income in the quarter plunged 38% to $283 million or 33 cents a diluted share compared to $453 million or 53 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