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Market Update

U.S. Movers: Allergan, Allstate, CBS, MetLife, P&G, Time Warner Cable


Author: Mukesh Buch
ticker.com
Last Update: 11:15 AM ET August 01 2013

11:15 AM New York Allergan sales rose 10% and net surged 22%. Allstate net grew 3%. CBS net climbed 11% as revenue jumped 12%. MetLife revenue surged but net declined. Procter & Gamble net plunged 48%. Time Warner Cable net jumped 6%.

The ADT Corporation (ADT) fell 39 cents to $39.69 after the electronic security provider reported revenue in the third quarter ending in June rose 2% to $833 million. Net income in the quarter climbed 11% to $113 million or 52 cents a diluted share compared to $102 million or 43 cents.

For the year, the company expects revenue increase in the range of 4.5% to 4.8%.

Allergan, Inc. (AGN) gained 48 cents to $91.60 after the multi-specialty health care company reported revenue in the second quarter ending in June climbed 10% to $1.60 billion. Net earnings in the quarter surged 22% to $359.9 million or $1.19 a diluted share compared to $295.4 million or 96 cents.

For the third quarter, the company expects total product net sales in the range of $1.50 billion and $1.56 billion and Non-GAAP diluted earnings per share between $1.18 and $1.20.

For the year, Allergan expects total product net sales between $6.05 billion and $6.20 billion and Non-GAAP diluted earnings per share in the range of $4.72 and $4.76.

The Allstate Corporation (ALL) increased 2.5% or $1.29 to $52.27 after the insurer reported consolidated revenue in the second quarter ending in June climbed 6% to $8.79 billion. Net income in the quarter increased 2.6% to $434 million or $1.12 a diluted share compared to $423 million or 87 cents.

The company added operating income in the second quarter soared 23% to $529 million.

Becton, Dickinson and Company (BDX) slipped 1.4% or $1.44 to $102.28 after the medical products maker reported revenue in the third quarter ending in June increased 3.5% to $2.05 billion. Net income in the quarter dropped 8% to $301.6 million or $1.52 a diluted share compared to $326.9 million or $1.59.

For the year, the company expects revenue growth between 3.5% to 4% and earnings per share from continuing operations in the range of $5.65 to $5.68.

CBS Corporation (CBS) jumped 3.4% or $1.82 to $54.68 after the broadcasting company said revenue in the second quarter ending in June advanced 12% to $3.7 billion. Net earnings in the quarter climbed 11% to $472 million or 76 cents a diluted share compared to $427 million or 65 cents.

MetLife, Inc. (MET) climbed 4% or $1.92 to $50.34 after the insurance company reported revenue in the second quarter ending in June surged 52% to $17.04 billion. Net income in the quarter declined 79% to $471 million or 43 cents a diluted share compared to $2.26 billion or $2.12.

For the second quarter, operating earnings climbed 11% to $1.59 billion.

The Procter & Gamble Company (PG) gained 1.4% or $1.11 to $81.41 after the consumer goods maker stated net sales in the fourth quarter ending in June increased 2% to $20.66 billion. Net income in the quarter plunged 48% to $1.88 billion or 64 cents a diluted share compared to $3.63 billion or $1.24.

The company added gross profit in the quarter increased 1% to $9.80 billion and operating income tumbled 14% to $2.63 billion.

Pioneer Natural Resources Company (PXD) surged 14.6% or $22.52 to $177.02 after the oil and gas explorer reported revenue in the second quarter ending in June surged 29% to $1.18 billion. Net in the quarter swung to a profit $337.3 million or $2.40 a diluted share compared to a loss of $70.4 million or 57 cents.

Time Warner Cable Inc. (TWC) jumped 3.5% or $3.95 to $118.09 after the broadband services provider said revenue in the third quarter ending in June gained 2.7% to $5.55 billion. Net income in the quarter jumped 6% to $481 million or $1.64 a diluted share compared to $452 million or $1.43.

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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