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Market Update

U.S. Movers: Boeing, CVS Health, FactSet, Navistar, Talisman Energy


Author: Mukesh Buch
ticker.com
Last Update: 1:36 PM ET December 16 2014

1:30 PM New York Boeing and CVS Health increase quarterly dividend and expand stock buyback program. FactSet Research net climbed 7%. Navistar net loss narrowed. Talisman Energy surged 48% after a $13 billion deal with Spain-based Repsol. VeriFone net swung to profit.

Tollbooth Strategy Index rose 0.1% or 9.44 to 9,786.88.

Earnings Review

Boeing Co (BA) jumped 2.5% or $$3.03 to $125.11 after the aircraft maker said increased its quarterly dividend by 25% and expand the stock buyback program to $12 billion.

CVS Health Corp (CVS) jumped 4.3% or $3.90 to $93.77 after the pharmacy retailer announced that its board of directors approved a new share repurchase program for up to $10 billion and increased quarterly dividend by 27% to 35 cents per share.

The company expects to deliver adjusted earnings per share from continuing operations in fiscal 2015 of $5.05 to $5.19, an increase of 12.5% to 15.75%.

FactSet Research Systems Inc. (FDS) advanced 1.1% or $1.54 to $136.64 after the financial information provider said sales in the first-quarter ending in November jumped 8.8% to $242.7 million from a year ago period.

Net income in the quarter climbed 7.1% to $55.9 million or $1.32 a diluted share compared to $52.2 million or $1.19 from a same quarter last year.

Navistar International Corporation (NAV) plunged 11.3% or $3.95 to $31.09 after the military truck maker reported sales in the fourth-quarter ending in October soared 11.1% to $3 billion from a year ago period.

Net loss in the quarter narrowed to $72 million or 88 cents a diluted share compared to $154 million or $1.91 from a same quarter last year.

Talisman Energy Inc (TLM) surged 47.6% or $2.43 to $7.55 after the oil and gas producer signed an agreement to be acquired by Spain-based oil and gas explorer Repsol S.A. for $8 per share or C$9.33 per share in cash or total of about $13 billion.

The deal is expected to close in the second quarter of 2015.

VeriFone Systems Inc (PAY) climbed 5.3% or $1.74 to $34.81 after the electronic payment solution provider reported net revenues in the fourth-quarter ending in October soared 14% $490.5 million from a year ago period.

Net in the quarter swung to profit $31.1 million or 27 cents a diluted share compared to a loss of $247.7 million or $2.26 from a same quarter last year.

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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