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Market Update

U.S. Movers: BB&T, GE, Johnson Controls, Microsoft, Whirlpool


Author: Mukesh Buch
ticker.com
Last Update: 11:29 AM ET July 19 2013

11:10 AM New York BB&T net advanced 7%. General Electric revenue fell and net income was flat at $3.1 billion. Johnson Controls net surged 32% and provides outlook. Microsoft net swung to profit as revenues jumped 10%. Schlumberger profit jumped 16% and Whirlpool net soared 75%.

BB&T Corporation (BBT) fell 32 cents to $34.74 after the financial service provider reported revenue in the second quarter ending in June gained 6% to $2.5 billion. Net income in the quarter advanced 7% to $547 million or 77 cents a diluted share compared to $510 million or 72 cents.

General Electric Company (GE) climbed 5.1% or $1.20 to $24.83 after the industrial conglomerate stated revenue in the second quarter ending in June fell 4% to $35.1 billion. Net earnings in the quarter were flat at $3.1 billion or 30 cents a diluted share compared to 29 cents a year ago.

Johnson Controls, Inc. (JCI) rose 17 cents to $40.60 after the industrial control systems maker said net sales in the third quarter ending in June rose 2% $10.8 billion. Net income in the quarter surged 32% to $571 million or 83 cents a diluted share compared to $431 million or 63 cents.

The company added gross profit in the quarter jumped 9% to $1.68 billion.

For the fourth quarter, the company expects diluted earnings per share in the range of 93 cents to 95 cents.

For the year, the company expects diluted earnings per share between $2.64 and $2.66.

Microsoft Corporation (MSFT) plunged 9.7% or $3.46 to $31.98 after the software company said revenues in the fourth quarter ending in June jumped 10% to $19.9 billion. In the quarter, net swung to a profit $4.97 billion or 59 cents a diluted share compared to net loss of $492 million or 6 cents.

Philip Morris International Inc. (PM) slid 33 cents to $88.92 after the tobacco products maker stated total revenue in the second quarter ending in June grew 3% to $20.5 billion. Net income in the quarter dropped 8% to $2.12 billion or $1.30 a diluted share compared to $2.31 billion or $1.36.

Gross profit in the quarter declined 4% to $5.22 billion and operating income slipped 8% to $3.33 billion.

State Street Corporation (STT) slipped 36 cents to $69.74 after the financial service provider said net sales in the second quarter ending in June up 4% to $2.58 billion. Net income in the quarter jumped 16% to $571 million or $1.24 a diluted share compared to $494 million or $1.01.

Schlumberger Limited (SLB) jumped 4.5% or $3.51 to $81.99 after the oil and gas explorer stated revenue in the second quarter ending in June jumped 6% to $11.2 billion. Net income in the quarter soared 50% to $2.10 billion or $1.57 a diluted share compared to $1.40 billion or $1.05.

The Sherwin-Williams Company (SHW) gained 1.9% or $3.33 to $171.26 after the paint company reported consolidated net sales in the second quarter ending in June grew 5% to $2.71 billion. Net income in the quarter climbed 13% to $257.3 million or $2.46 a diluted share compared to $227.8 million or $2.17.

The company added gross profit in the quarter $1.23 billion.

For the third quarter, the company anticipates consolidated net sales increase in the range of 6% to 9% and diluted earnings per share between $2.55 and $2.65.

For the year, the company expects diluted earnings per share in the range of $7.45 to $7.55.

Whirlpool Corporation (WHR) soared 6.9% or $8.22 to $127.59 after home appliances maker stated net sales in the second quarter ending in June gained 5% to $4.75 billion. Net earnings in the quarter soared 75% to $198 million or $2.44 a diluted share compared to $113 million or $1.43.

Operating profit in the quarter jumped 69% to $328 million.

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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