S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

U.S. Movers: BlackRock, eBay, Intel, IBM, Morgan Stanley, Verizon


Author: Mukesh Buch
ticker.com
Last Update: 12:00 PM ET July 18 2013

11:55 AM New York BlackRock second quarter revenue and net soared. eBay revenue climbed but net slumped. Intel revenue fell 5% and net plunged 29%. IBM profit declined 17%. Morgan Stanley net surged 42% and Verizon net climbed 21%.

BlackRock, Inc. (BLK) gained 1.9% or $5.34 to $277.63 after the investment company stated revenue in the second quarter ending in June soared 11% to $2.48 billion. Net income in the quarter surged 32% to $729 million or $4.19 a diluted share compared to $554 billion or $3.08.

eBay Inc. (EBAY) declined 6.6% or $3.77 to $53.61 after the online marketplace provider reported revenue in the second quarter ending in June climbed 14% to $3.9 billion. Net earnings in the quarter slumped 7.5% to $640 million or 49 cents a diluted share compared to $692 million or 53 cents.

For the third quarter, eBay expects net revenues in the range of $3.85 billion to $3.95 billion and GAAP diluted earnings per share between 49 cents 51 cents and non-GAAP diluted earnings per share in the range of 61 cents to 63 cents.

For the year, the company expects net revenues between $16 billion and $16.5 billion with GAAP diluted earnings per share in the range of $2.21 to $2.26 and non-GAAP diluted earnings per share in the range of $2.70 to $2.75.

Intel Corporation (INTC) dropped 3.5% or 84 cents to $23.31 after the computer device maker said revenues in the second quarter ending on June 29 dropped 5% to $12.8 billion. Net income in the quarter plunged 29% to $2 billion or 39 cents a diluted share compared to $2.83 million or 54 cents.

The company added gross margin in the quarter declined 13% to $7.47 billion and operating income tumbled 29% to $2.72 billion.

For the third quarter, Intel expects revenues of $13.5 billion.

International Business Machines Corporation (IBM) jumped 2.4% or $4.65 to $199.20 after the information technology company stated revenue in the second quarter ending in June fell 4% to $24.9 billion. Net income in the quarter declined 16.8% to $3.23 billion or $2.93 a diluted share compared to $3.88 billion or $3.38 a share.

Morgan Stanley (MS) climbed 4.9% or $1.32 to $27.86 after the financial services provider said consolidated net revenue in the second quarter ending in June climbed 23% to $8.5 billion. Net income in the quarter surged 42.2% to $802 million or 41 cents a diluted share compared to $564 million or 29 cents.

M&T Bank Corporation (MTB) rose 42 cents to $118.36 after the bank reported net interest income in the second quarter ending in June jumped 11% to $677.6 million. Net income in the quarter slumped 8% to $328.6 million or $2.55 a diluted share compared to $214.7 million or $1.71.

U.S. Bancorp (USB) added 27 cents to $37.01 after the financial services provider said revenue in the second quarter ending in June grew 1% to $4.95 billion. Net income in the quarter slumped 8% to $1.48 billion or 76 cents a diluted share compared to $1.42 billion or 71 cents.

Verizon Communications Inc. (VZ) slipped 1.9% or 97 cents to $49.77 after the communications company reported operating revenue in the second quarter ending in June advanced 4% to $29.8 billion. Net income in the quarter climbed 21.2% to $5.20 billion or 78 cents a diluted share compared to $4.29 billion or 64 cents.

The company added operating income in the quarter jumped 16% to $6.6 billion.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc