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Market Update

U.S. Movers: Apple, AT&T, Eli Lilly, Ford, Hess, Boeing, P&G


Author: Mukesh Buch
ticker.com
Last Update: 11:36 AM ET April 24 2013

11:25 AM New York Apple second quarter net dropped 18% and Eli Lilly first quarter net surged 53%. Ford net climbed 14% and Hess first quarter net soared 134%. Boeing net climbed 20% and P&G third quarter net jumped 6% to $2.57 billion.

Apple Inc. (AAPL) slipped 1.5% or $6.44 to $399.75 after the mobile and pc maker reported net sales in the second quarter ending in March surged 11% to $43.6 billion. Net income in the quarter dropped 18% to $9.55 billion or $10.09 a diluted share compared to $11.6 billion or $12.30.

The company added operating income in the quarter plunged 18% to $12.6 billion.

For the third quarter, Apple expects revenue between $33.5 billion and $35.5 billion.

AT&T Inc. (T) declined 5.3% or $2.10 to $36.91 after the communication company stated consolidated revenues in the first quarter ending in March slid 1.5% to $31.4 billion. Net income in the quarter increased 3% to $3.70 billion or 67 cents a diluted share compared to $3.58 billion or 60 cents.

Canadian Pacific Railway Limited (CP), the Canada based railway company reported total revenue in the first quarter ending in March climbed 9% to $1.50 billion. Net income in the quarter surged 53% to $217 million or $1.24 a diluted share compared to $142 million or 82 cents.

The company said operating income in the quarter soared 32% to $362 million.

Corning Inc (GLW) climbed 5% or 66 cents to $13.79 after the technology company said revenue in the first quarter ending in March slipped 6% to $1.81 billion. Net earnings in the quarter grew 4% to $494 million or 33 cents a diluted share compared to $474 million or 31 cents.

Eli Lilly and Company (LLY) fell 2.9% or $1.73 to $56.60 after the pharmaceutical products maker reported total revenue in the first quarter ending in March flat to $5.60 billion. Net income in the quarter surged 53% to $1.55 billion or $1.42 a diluted share compared to $1.01 billion or 91 cents.

For the year, the company expects diluted earnings per share in the range of 4.10 to $4.25.

Ford Motor Company (F) slid 3 cents to $13.33 after the cars and trucks maker reported revenue in the first quarter ending in March advanced 10% to $35.8 billion. Net income in the quarter climbed 14% to $1.6 billion or 40 cents a diluted share compared to $1.4 billion or 35 cents.

General Dynamics Corporation (GD) jumped 5.8% or $3.92 to $71.02 after the aerospace and defense contractor stated revenue in the first quarter ending in March declined 23% to $7.40 billion. Net earnings in the quarter rose 1.2% to $571 million or $1.62 a diluted share compared to $564 million or $1.57.

Hess Corporation (HES) gained 2.6% or $1.81 to $70.02 after the energy company reported total revenue in the first quarter ending in March surged 39% to $4.12 billion. Net earnings in the quarter soared 134% to $1.28 billion or $3.72 a diluted share compared to $545 million or $1.60.

The Boeing Company (BA) advanced 3.4% or $3 to $91.18 after the aerospace company said revenue in the first quarter ending in March decreased 3% to $18.9 billion. Net earnings in the quarter climbed 20% to $1.11 billion or $1.44 a diluted share compared to $923 million or $1.22.

The Boeing reaffirmed for the year revenue in the range of $82 billion to $85 billion and diluted earnings per share between $5 and $5.20.

The Procter & Gamble Company (PG) dropped 4.5% or $3.75 to $78.19 after the consumer products maker reported net sales in the third quarter ending in March rose 2% to $20.6 billion. Net income in the quarter jumped 6% to $2.57 billion or 88 cents a diluted share compared to $2.41 billion or 82 cents.

The company raised its share repurchase target to nearly $6 billion for the fiscal year.

The consumer products maker expects fourth quarter core earnings per share in the range of 69 cents to 77 cents.

For the year, the company expects earnings per share between $3.96 and $4.04.

The Southern Company (SO) slipped 46 cents to $48.19 after the power supply company said total revenue in the first quarter ending in March climbed 8.3% to $3.90 billion. Net income in the quarter tumbled 78% to $81 million or 9 cents a diluted share compared to $368 million or 42 cents.

WellPoint, Inc (WLP) soared 6.2% or $4.37 to $73.70 after the health benefits provider stated total revenue in the first quarter ending in March climbed 15.8% to $17.54 billion. Net income in the quarter jumped 3.4% to $885.2 million or $2.89 a diluted share compared to $856.5 million or $2.53.

Medical membership in the quarter enrollment climbed 6% to 35.8 million members an increase of 2.1 million members.

The company lifted net income expectation for the year to at least $7.75 a share.

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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