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Market Update

U.S. Movers: Automatic Data Processing, AIG, Duke, InvenSense, LinkedIn


Author: Mukesh Buch
ticker.com
Last Update: 11:33 AM ET May 03 2013

11:10 AM New York – Automatic Data Processing said third quarter net slid 7%. AIG first quarter net declined 31% and Duke net surged 115%. InvenSense surged as sales and net climbed. LinkedIn net surged more than four-fold. Moody’s net jumped 9%.

Automatic Data Processing, Inc. (ADP) gained 1.7% or $1.15 to $68.55 after the business outsourcing solutions provider stated total revenue in the third quarter ending in March climbed 7% to $3.11 billion. Net earnings in the quarter dropped 7% to $482.7 million or 99 cents a diluted share compared to $452.4 million or 92 cents.

American International Group, Inc. (AIG) climbed 5.3% or $2.25 to $44.38 after the insurance company reported net premiums written in the first quarter ending in March declined 4% to $8.44 billion. Net income in the quarter declined 31% to $2.21 billion or $1.49 a diluted share compared to $3.21 billion or $1.71.

The company said operating income in the quarter surged 52% to $1.59 billion.

Airgas, Inc. (ARG) rose 37 cents to $96.43 after the specialty gases distributor said net sales in the fourth quarter ending in March increased 2% to $1.26 billion. Net income in the quarter slipped 2% to $86 million or $1.13 a diluted share compared to $88 million or $1.12.

The company added operating income in the quarter added 4% to $152 million.

Ansys, Inc. (ANSS) gained 1.4% or $1.07 to $75 after the engineering software company stated net revenue in the first quarter ending in March advanced 7% to $197.7 million. Net income in the quarter jumped 11% to $51 million or 55 cents a diluted share compared to $46 million or 49 cents.

For the second quarter, Ansys expects revenue in the range of $204.6 million to $210.6 million and diluted earnings per share between 50 cents and 55 cents.

For the full-year, the company expects revenue between $850.4 million and $870.4 million and diluted earnings per share in the range of $2.24 to $2.36.

Canadian Natural Resources Limited (CNQ) jumped 2.5% or 74 cents to $29.98 after the Canada based energy company stated product sales in the first quarter ending in March rose 3% to $4.10 billion. Net earnings in the quarter tumbled 50.1% to $213 million or 19 cents a diluted share compared to $427 million or 39 cents.

Duke Energy Corporation (DUK) slipped 50 cents to $74.28 after the energy company reported total operating revenue in the first quarter ending in March surged 63% to $5.90 billion. Net income in the quarter surged 115% to $634 million or 89 cents a diluted share compared to $295 million or 66 cents.

Consolidated Edison, Inc (ED) fell 33 cents to $63.30 after the holding company stated total operating revenue in the first quarter ending in March rose 3% to $3.18 billion. Net income in the quarter plunged 30.7% to $192 million or 66 cents a diluted share compared to $277 million or 95 cents.

For the year 2013, the company confirmed diluted earnings per share from ongoing operations in the range of $3.65 to $3.85.

Group 1 Automotive, Inc (GPI) increased 1.7% or $1.05 to $63.25 after the automotive retailing industry said total revenue in the first quarter ending in March climbed 18% to $1.96 billion. Net income in the quarter increased 4% to $22.1 million or 88 cents a diluted share compared to $23 million or 97 cents.

InvenSense, Inc (INVN)) surged 26.6% to $2.48 to $11.80 after the integrated circuit maker stated net revenue for the fourth quarter ending in March surged 66.7% to $55.2 million. Net income in the quarter soared 130% to $13.6 million or 15 cents a diluted share compared to $5.9 million or 7 cents.

“March quarter revenue increased 67% from a year ago, with smartphones and tablets leading the growth, representing more than 80% of total revenue."" said Behrooz Abdi, chief executive officer and president.

LinkedIn Corporation (LNKD) declined 9.3% or $18.79 to $182.88 after the professional network reported net revenue in the first quarter ending in March surged 72% to $324.7 million. Net income in the quarter surged more than four-fold to $22.6 million or 20 cents a diluted share compared to $5 million or 4 cents.

For the second quarter, LinkedIn expects revenue in the range of $342 million to $347 million.

For the full-year the company expects revise revenue between $1.43 billion and $1.46 billion.

Moody’s Corporation (MCO) jumped 3% or $1.83 to $62.37 after the credit ratings agency stated total operating revenue in the first quarter ending in March soared 13% to $731.8 million. Net income in the quarter jumped 9% to $188.4 million or 83 cents a diluted share compared to $173.5 million or 76 cents.

The company added operating income in the quarter increased 4% $280.4 million.

Moody’s expects for the full-year non GAAP earnings per share in the range of $3.49 to $3.59.

OGE Energy Corp. (OGE) gained 1.4% or $1.03 to $72.97 after the energy services provider said total operating revenue in the first quarter ending in March advanced 7% to $901.4 million. Net income in the quarter tumbled 38% to $23.1 million or 23 cents a diluted share compared to $37.1 million or 38 cents.

For the year, energy services provider reaffirmed consolidated average diluted earnings per share to $3.35 to $3.60.

Regeneron Pharmaceuticals, Inc. (REGN) climbed 5.7% or $14.31 to $262.94 after the biopharmaceutical company reported revenue in the first quarter ending in March surged 90% to $440 million. Net income in the quarter surged more than nine-fold to $98.9 million or 90 cents a diluted share compared to $11.7 million or 11 cents.

Spectra Energy Corp (SE) slid 1 cent to $30.88 after the natural gas infrastructure operator stated revenue in the first quarter ending in March grew 3.2% to $1.59 billion. Net income in the quarter rose to $370 million compared to $361 million and diluted earnings per share were flat at 51 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