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Market Update

U.S. Movers: Avon, Fossil, HCP, Omnicom, Coca-Cola, Valspar


Author: Mukesh Buch
ticker.com
Last Update: 10:23 AM ET February 12 2013

10:10 AM New York Avon fourth quarter net loss widened and Fossil net surged 28% as sales climbed. HCP fourth quarter net surged nearly three-fold and Level 3 net loss narrowed. Omnicom net jumped 18% and Coca-Cola net climbed 13%.

Avon Products, Inc. (AVP) surged 12.5% or $2.15 to $19.45 after the beauty products maker said total revenues in the fourth quarter ending in December slid 1% to $3 billion from $3.04 billion in the same period of last year. Net loss in the quarter widened to $162.2 million or 37 cents per diluted share compared to $0.4 million or breaks even a share a year ago earlier.

Avon beauty sales in the quarter slipped 2% and fragrance was flat. Color and personal care fell 1% to each and skincare declined 5%. Gross margin in the quarter was 59.8% and operating profit of $11 million.

Fossil, Inc. (FOSL) climbed 5.6% or $6.14 to $113.75 after the fashion accessories maker reported total revenues in the fourth quarter ending in December jumped 14% to $947.7 million from $830.8 million in the same period of last year. Net income in the quarter surged 28% to $151.1 million or $2.51 per diluted share compared to $117.9 million or $1.87 a share a year ago period.

The jewelry maker said worldwide net sales in the quarter climbed 14.8% to $122.7 million and North America wholesale segment increased 15% to $46.0 million. Wholesale net sales in Europe gained 7.6%, or $17 million and Asia Pacific wholesale net sales rose 18.6%, or $16.1 million.

Direct to consumer net sales for the quarter jumped 20.4% to $43.6 million.

The company expects first quarter net sales to increase nearly 10% and diluted earnings per share in the range of 93 cents to 98 cents.

For the fiscal year, net sales to increase between 10% and 11% and diluted earnings per share in the range of $5.85 to $6.15.

Fidelity National Information Services, Inc. (FIS) slipped 1.4% or 58 cents to $36.98 after the banking services provider reported total revenues in the fourth quarter ending in December grew 3% to $1.50 billion from $1.46 billion in the same period of last year. Net income in the quarter climbed 17% to $136.7 million or 46 cents per diluted share compared to $117 million or 39 cents a share a year ago quarter.

Revenue in the fourth quarter financial solutions segment jumped 8.4% to $578.4 million and payment solution revenue fell 1% to total $601.3 million.

The bank expects revenue growth of 4% to 6% in 2013 and earnings per share from continuing operations of $2.77 to $2.87, an increase of 11% to 15%.

HCP, Inc. (HCP) slid 25 cents to $46.66 after the real estate investment company said total revenues in the fourth quarter ending in December climbed 11% to $508.5 million from $458.3 million in the same period of last year. Net income in the quarter surged nearly three-fold to $239.9 million or 53 cents per diluted share compared to $62 million or 15 cents a share a year ago.

The company estimated full-year net income applicable to common shares between $1.95 and $2.01 per share represents an increase of 4% over the period of 2012.

Level 3 Communications, Inc (LVLT) plunged 11.7% or $2.90 to $21.76 after the communications service provider reported total revenues in the fourth quarter ending in December fell 1% to $1.61 billion from $1.59 billion in the same period of last year. Net loss in the quarter narrowed to $56 million or 26 cents per diluted share compared to $235 million or $1.15 a share a year ago earlier.

Marsh & McLennan Companies, Inc. (MMC) decreased 1.7% or 64 cents to $35.71 after the insurance broker stated revenues in the fourth quarter ending in December advanced 3% to $3 billion from $2.91 billion in the same period of last year. Net income in the quarter rose 1% to $259 million or 47 cents per diluted share compared to $256 million or 46 cents a share a year ago period.

The company reported consulting segment revenue in the quarter grew 3% to $1.4 billion and Mercer''s revenue jumped 7% to $1 billion. Risk and insurance services revenue increased 3% to $1.6 billion and Marsh''s revenue increase 4% to $1.4 billion.

Omnicom Group Inc. (OMC) gained 2% or $1.12 to $56.48 after the holding company said total revenues in the fourth quarter ending in December grew 2.4% to $3.94 billion from $3.85 billion in the same period of last year. Net income in the quarter jumped 18% to $300 million or $1.13 per diluted share compared to $268.4 million or 96 cents a share a year ago quarter.

The Coca-Cola Company (KO) slumped 1.6% or 62 cents to $37.99 after the beverage company reported net revenues in the fourth quarter ending in December climbed 4% to $11.46 billion from $11.04 billion in the same period of last year. Net income in the quarter climbed 13% to $1.87 billion or 41 cents per diluted share compared to $1.66 billion or 36 cents a share a year ago

For the quarter, worldwide still beverage segment volume jumped 9% and ready-to-drink tea volume climbed 16%. Energy drink volume advanced 12%.

The Valspar Corporation (VAL) dropped 7.3% or $4.93 to $62 after the coating and paint maker said total revenues in the first quarter ending on January 25 slid 1% to $875.2 million from $885.6 million in the same period of last year. Net income in the quarter fell 1% to $55 million or 60 cents per diluted share compared to $55.8 million or 58 cents a share a year ago earlier.

The paint company expects full year adjusted net income per share of $3.60 to $3.80.

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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