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Market Update

U.S. Movers: Amazon.com, BorgWarner, Helmerich & Payne, Lear, Ventas


Author: Mukesh Buch
ticker.com
Last Update: 11:09 AM ET July 26 2013

11:05 PM New York Amazon.com net swung to loss but revenue and operating expenses climbed. BorgWarner and Helmerich & Payne net surged. Lear and NV Energy profit declined. Stanley Black net jumped 21% and Ventas net soared 55%.

Amazon.com, Inc. (AMZN) slid 42 cents to $303.10 after the online retailer reported net sales in the second quarter ending in June soared 22% $15.7 billion. In the quarter net swung to a loss $7 million or 2 cents a diluted share compared to net income of $7 million or 1 cent.

The company added operating income in the quarter plunged 26% to $79 million and operating expenses climbed 23% to $15.63 billion from $12.73 billion a year ago.

For the third quarter, the company expects net sales in the range of $15.45 billion and $17.15 billion.

Activision, Inc. (ATVI), surged 13% or $1.97 to $17.15 after the video-game publisher will buy back most of 85% of its interest from France based media company Vivendi SA for nearly $8.2 billion or $13.60 per share.

Vivendi currently owns 61.1% or 684 million Activision Blizzard common shares but after the transaction the company will retained 83 million shares or 12% of Activision Blizzard.

BorgWarner Inc. (BWA) gained 31 cents to $93.55 after the automobile parts supplier stated total revenue in the second quarter ending in June grew 1.6% $1.89 billion. Net earnings in the quarter jumped 44% to $174.1 million or $1.50 a diluted share compared to $120.6 million or $1.

In the quarter, gross profit rose 3.4% to $396.6 million and operating income jumped 26% to 243.4 million.

For the year, the company expects diluted earnings per share in the range of $5.40 to $5.55.

Helmerich & Payne, Inc. (HP) fell 56 cents to $66 after the oil and gas driller said operating revenue in the third quarter ending in June increased 2.4% $840.2 million. Net income in the quarter surged 78% to $266.2 million or $2.46 a diluted share compared to $149.9 million or $1.38.

Lear Corporation (LEA) gained 1.5% or 99 cents to $66.95 after the automotive parts supplier reported net sales in the second quarter ending on June 29 climbed 12% $4.1 billion. Net income in the quarter slipped 8% to $142.3 million or $1.60 a diluted share compared to $154.6 million or $1.45.
For the year, Lear expects net sales approximately increase $15.8 billion from in the range of $15 to $15.5 billion and core operating earnings between $750 million and $800 million.

NV Energy, Inc. (NVE) traded flat at $23.61 after the electric utility provider reported operating revenue in the second quarter ending in June grew 1.2% $731.6 million. Net income in the quarter dropped 9% to $63.2 million or 27 cents a diluted share compared to $69.4 million or 29 cents.

The company expects diluted earnings per share for the year between $1.25 and $1.35.

Stanley Black & Decker Inc. (SWK) increased 1.9% or $1.58 to $84.09 after the power and hand tools provider stated net sales in the second quarter ending in June climbed 12% $2.9 billion. Net income in the quarter jumped 21% to $187.1 million or $1.18 a diluted share compared to $154.8 million or 92 cents.

For the year, the company expects diluted earnings per share in the range of $5.40 to $5.65.

Ventas, Inc. (VTR) slid 28 cents to $68.87 after the healthcare real estate investment trust said net sales in the second quarter ending in June advanced 12% $685.8 million. Net income in the quarter soared 55% to $114.6 million or 39 cents a diluted share compared to $74 million or 25 cents.

Weyerhaeuser Company (WY) slipped 1% or 31 cents to $28.83 after the forest products maker reported net sales in the second quarter ending in June surged 20% $2.14 billion. Net income in the quarter doubled to $196 million or 35 cents a diluted share compared to $84 million or 16 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