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Market Update

U.S. Movers: Archer-Daniels, Becton Dickinson, Cardinal Health, Kellogg


Author: Mukesh Buch
ticker.com
Last Update: 10:08 AM ET February 05 2013

10:00 AM New York – Archer-Daniels second quarter net surged more than six-fold and Becton, Dickinson net climbed 14%. Cardinal Health net advanced 16% and Eaton Corp net plunged 51%. NYSE net dropped 19% and Kellogg loss narrowed. Estee Lauder net jumped 13%.

Archer-Daniels-Midland-Company (ADM) climbed 3.9% or $1.14 to $29.58 after the food processing company said net sales in the second quarter ending in December increased 7% to $24.9 billion from $23.3 billion in the same period of last year. Net earnings in the quarter surged more than six-fold to $510 million or 77 cents per diluted share compared to $80 million or 12 cents a share a year ago earlier.

Becton, Dickinson and Company (BDX) gained 2.7% or $2.34 to $87.50 after the medical devices maker reported revenues in the first quarter ending in December grew 4% to $1.90 billion from $1.83 billion in the same period of last year. Net income in the quarter climbed 14% to $625.4 million or $3.13 per diluted share compared to $263 million or $1.21 a share a year ago quarter.

The medical devices maker added worldwide revenues from medical segment rose 3.5% to $983 million and revenues from diagnostics segment climbed 5% to $652 million. Biosciences revenues increased 1.7% to $265 million. Revenues in the U.S. grew 3% to $830 million.

The company lifted its previously communicated revenue guidance for the year of 3.5% to 4.5% to 4% to 4.5% and diluted earnings per share from continuing operations between $5.69 and $5.72.

Church & Dwight Co., Inc. (CHD) rose 36 cents to $58.76 after the specialty products maker stated net sales in the fourth quarter ending in December jumped 11% to $809.7 million from $731.1 million in the same period of last year. Net income in the quarter surged 27% to $80.8 million or 57 cents per diluted share compared to $63.8 million or 44 cents a share a year ago period.

The company said consumer domestic net sales for the quarter jumped 17.3% to $609.4 million and international net sales declined 6% to $136.3 million. Gross margin for the total company grew 100 basis points to 44.3%.

“We are forecasting earnings per share to be $2.79, which is the upper end of our previous range of $2.74 to $2.79, and an increase of 14% on a reported basis and expect first quarter earnings per share to increase nearly 8% compared to the prior year.” said James R. Craigie chairman and chief executive officer.

Cardinal Health, Inc. (CAH) increased 2.1% or 92 cents to $44.59 after the healthcare service provider reported net sales in the second quarter ending in December dropped 7% to $25.2 billion from $27.1 billion in the same period of last year. Net earnings in the quarter climbed 16% to $303 million or 88 cents per diluted share compared to $262 million or 75 cents a share a year ago.

The company added revenue for the pharmaceutical segment for the quarter declined 8% to $22.7 billion and profit increased 12% to $441 million. For the medical segment, revenue grew 3% to $2.5 billion and profit increased 11% to $94 million.

The company tightened fiscal outlook for non-GAAP diluted earnings per share from continuing operations to $3.42 to $3.50

Diamond Offshore Drilling, Inc. (DO) dropped 4.5% or $3.46 to $73.02 after the drilling contractor said net sales in the fourth quarter ending in December edged up to $750.5 million from $748.4 million in the same period of last year. Net income in the quarter declined 17% to $156 million or $1.12 per diluted share compared to $188 million or $1.36 a share a year ago quarter.

Emerson Electric Co. (EMR) slid 49 cents to $57 after the electric motors and fans maker stated net sales in the first quarter ending in December increased 5% to $5.55 billion from $5.31 billion in the same period of last year. Net earnings in the quarter surged 22% to $371 million or 50 cents per diluted share compared to $454 million or 62 cents a share a year ago period.

The company expects sales in 2013 to increase 2% to 5% and earnings per share between $3.53 and $3.63.

Eaton Corporation (ETN) gained 1.1% or 69 cents to $57.26 after the diversified power company reported net sales in the fourth quarter ending in December advanced 7% to $4.33 billion from $4.03 billion in the same period of last year. Net income in the quarter plunged 51% to $179 million or 46 cents per diluted share compared to $362 million or $1.07 a share a year ago.

NYSE Euronext (NYX) rose 1 cent to $34.88 after the exchange operator said total revenue in the fourth quarter ending in December declined 14% to $909 million from $1.05 billion in the same period of last year. Net income in the quarter dropped 19% to $105 million or 43 cents per diluted share compared to $130 million or 50 cents a share a year ago earlier.

Kellogg Company (K) increased 1.7% or $1.04 to $59.14 after the ready-to-eat foods maker reported net sales in the fourth quarter ending in December grew 4% to $3.56 billion from $3.01 billion in the same period of last year. Net loss in the quarter narrowed to $32 million or 9 cents per diluted share compared to $195 million or 54 cents a share a year ago quarter.

The company said net sales for the quarter North America climbed 12.3% and international sales jumped 30.9%. Specialty channels business sales increased 10% and other business net sales grow 11.2%.

Kellogg anticipates earnings per share for the year are to grow between 5% and 7%.

The Estee Lauder Companies Inc (EL) jumped 4.6% or $2.83 to $63.88 after the cosmetics maker said net sales in the second quarter ending in December advanced 7% to $2.93 billion from $2.74 billion in the same period of last year. Net earnings in the quarter jumped 13% to $447.5 million or $1.13 per diluted share compared to $396.7 million or $1 a share a year ago earlier.

The company forecasts net sales in the third quarter to grow between 3% and 4% and diluted net earnings per share projected between 28 cents and 32 cents.

For the year, cosmetics maker expects net sales to increase between 6% and 7% and diluted net earnings per share $2.51 to $2.59, up 11% to 14%.

Yum! Brands, Inc. (YUM) declined 6.1% or $3.91 to $60.03 after the restaurant company reported total revenue in the fourth quarter ending in December rose 1% to $4.15 billion from $4.11 billion in the same period of last year. Net income in the quarter slipped 5% to $337 million or 72 cents per diluted share compared to $356 million or 75 cents a share a year ago earlier.

The company said worldwide system sales for the quarter grow 5% and same-store sales rose 3% in China and grew 3% at international locations and in the U.S. Same-store sales declined 6% in China and operating profit grew 6%.

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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