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Market Update

U.S. Movers: Aon, Chevron, Exxon, Ingersoll-Rand, Merck, Mattel


Author: Mukesh Buch
ticker.com
Last Update: 10:20 AM ET February 01 2013

10:00 AM New York – Aon fourth quarter net soared 10% and Chevron net soared 41%. Exxon Mobil fourth quarter net climbed 6% and Ingersoll-Rand net slipped 3%. Lear net surged more than seven-fold. Merck fourth quarter net declined 7% and Mattel net plunged 17%.

Aon Plc (AON) slipped 2.2% or $1.32 to $56.42 after the UK based insurance company said total revenue in the fourth quarter ending in December grew 4% to $3.12 billion from $2.99 billion in the same period of last year. Net income in the quarter soared 10% to $305 million or 93 cents per diluted share compared to $277 million or 82 cents a share a year ago earlier.

Aon said HR solutions business total revenue for the quarter increased 7% to $1.1 billion and risk solutions total revenue increased 2% to $2.1 billion.

Chevron Corporation (CVX) gained 51 cents to $115.66 after the oil and gas explorer reported sales in the fourth quarter ending in December rose 1% to $60.55 billion from $59.99 billion in the same period of last year. Net income in the quarter soared 41% to $7.24 billion or $3.70 per diluted share compared to $5.12 billion or $2.58 a share a year ago.

Dunkin’ Brands Group, Inc (DNKN) rose 33 cents to $36.84 after the restaurant chain operator stated total revenues in the fourth quarter ending on December 29 slipped 4% to $161.7 million from $168.5 million in the same period of last year. Net income in the quarter surged more than three-fold to $34.3 million or 32 cents per diluted share compared to $11.6 million or 10 cents a share a year ago period.

The restaurants operator said Dunkin'' Donuts U.S. comparable store sales grew 3.2% and during the quarter 256 net new restaurants opened worldwide included 149 new Dunkin'' Donuts in the U.S.

For the year, the company expects Dunkin'' Donuts U.S. comparable store sales to increase 3% to 4% and Baskin-Robbins U.S. comparable store sales grow of 1% to 3% and adjusted earnings per share of $1.48 to $1.51.

Exxon Mobil Corporation (XOM) slid 48 cents to $89.49 after the petrochemical company reported sales in the fourth quarter ending in December declined 5% to $115.17 billion from $121.61 billion in the same period of last year. Net income in the quarter climbed 6% to $9.95 billion or $2.20 per diluted share compared to $9.40 billion or $1.97 a share a year ago.

JDS Uniphase Corporation (JDSU) increased 1.2% or 18 cents to $14.69 after the communication equipments maker stated net revenue in the second quarter ending on December 29 slipped 4% to $429.4 million from $409.3 million in the same period of last year. Net income in the quarter swung to $4.1 million or 2 cents per diluted share compared to net loss of $10.2 million or 4 cents a share a year ago quarter.

For the third quarter 2013, the company expects non-GAAP net revenue between $405 and $425 million.

Ingersoll-Rand plc (IR) gained 48 cents to $51.99 after the Ireland based diversified company reported net sales in the fourth quarter ending in December slid 1% to $3.47 billion from $3.51 billion in the same period of last year. Net income in the quarter slipped 3% to $235.6 million or 78 cents per diluted share compared to $242.2 million or 76 cents a share a year ago.

For 2013, the company expects revenue in the range of $14.2 billion to $14.6 billion and earnings per share from continuing operations are between $3.45 and $3.65.

For the first quarter, revenues are in the range of $3.1 billion to $3.2 billion and earnings per share from continuing operations are between 35 cents and 40 cents.

Lear Corporation (LEA) added 2 cents to $49.02 after the automotive parts supplier stated net sales in the fourth quarter ending in December increased 6% to $3.72 billion from $3.51 billion in the same period of last year. Net income in the quarter surged more than seven-fold to $881.9 million or $9 per diluted share compared to $106.5 million or $1.03 a share a year ago earlier.

Lear expects 2013 net sales in the range of $15 billion to $15.5 billion and operating earnings in the range of $725 to $775 million.

Legg Mason, Inc. (LM) dropped 2.3% or 64 cents to $27.01 after the investment manager said sales in the third quarter ending in December edged up to $673.9 million from $627 million in the same period of last year. Net loss in the quarter swung to $453.9 million or $3.45 per diluted share compared to net income of $28.1 million or 20 cents a share a year ago earlier.

Life Time Fitness, Inc. (LTM) plunged 19.3% or $9.80 to $40.93 after the fitness and spa center operator reported revenue for the fourth quarter in the range of $273 million to $275 million and net income of $22 million to 23.5 million and diluted earnings per share of 53 cents to 56 cents.

For the year, expects revenue between $1.13 billion and $1.13 billion and net income in the range of $110 million to $111.5 million and diluted earnings per share of $2.63 to $2.66.

The company previously provided revenue guidance for 2012 of $1.127 billion and $1.137 billion and net income of $114.5 million to $116 million and diluted earnings per share of $2.73 to 2.76.

Merck & Co., Inc. (MRK) declined 3.5% or $1.52 to $41.70 after the health care company reported sales in the fourth quarter ending in December dropped 4.5% to $11.74 billion from $12.29 billion in the same period of last year. Net income in the quarter declined 7% to $1.40 billion or 46 cents per diluted share compared to $1.51 billion or 49 cents a share a year ago.

Merck said pharmaceutical sales in the quarter declined 6% to $10.1 billion and sales from animal health segment grew 3% to $898 million. Consumer care segment sales jumped 9% to $395 million.

Merck expects full year revenues to be near 2012 levels and earnings per share in the range of $2.03 to $2.26.

Mattel, Inc. (MAT) fell 13 cents to $37.50 after the recreational products maker said sales in the fourth quarter ending in December advanced 5% to $2.26 billion from $2.15 billion in the same period of last year. Net income in the quarter plunged 17% to $306.5 million or 87 cents per diluted share compared to $370.6 million or $1.07 a share a year ago earlier.

Mattel added North American1 gross sales grew 5% and international gross sales jumped 8%.

Mead Johnson Nutrition Company (MJN) slid 56 cents to $75.40 after the infant nutritional products maker stated sales in the fourth quarter ending in December climbed 8% to $981.1 million from $911.3 million in the same period of last year. Net income in the quarter surged 57% to $134.2 million or 66 cents per diluted share compared to $85.6 million or 42 cents a share a year ago period.

The company said sales for the quarter in the Asia and Latin America segment climbed 10% to $663.5 million and North America and Europe segment reported grew 4% to $317.6 million.

The company expects earnings per share for the fiscal 2013 in the range of $3.20 to $3.28.

Tyson Foods, Inc. (TSN) jumped 2.7% or 61 cents to $22.73 after the meat processing company reported sales in the first quarter ending in December edged up to $8.40 billion from $8.33 billion in the same period of last year. Net income in the quarter climbed 11% to $173 million or 48 cents per diluted share compared to $156 million or 42 cents a share a year ago earlier.

The company expects fiscal 2013 sales of $35 billion.

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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