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Market Update

U.S. Movers: Chevron, HSBC, Eaton, Washington Post, Viacom


Author: Mukesh Buch
ticker.com
Last Update: 11:44 AM ET August 05 2013

11:40 AM New York Chevron revenues and net plunged. HSBC Holdings revenue dropped on unexpected slowdown in China. Eaton sales surged 38% and net soared 29%. Washington Post net declined 14%. Tyson Foods net soared to $249 million. Viacom net surged 20%.

Chevron Corporation (CVX) slipped 97 cents to $123.98 after the petroleum refiner reported revenue in the second quarter ending in June declined 8% to $57.4 billion. Net income in the quarter plunged 26% to $5.37 billion or $2.77 a diluted share compared to $7.21 billion or $3.66.

HSBC Holdings Plc (HBC) declined 4.6% or $2.67 to $55.30 after the UK based and China focused bank reported revenue in the first-half ending in June declined 12.9% to $25.7 billion from $29.5 billion. Profit for the period surged to $11.3 billion or 54 cents diluted earnings per share compared to $9.1 billion or 45 cents a year ago.

Eaton Corporation (ETN), the electric components maker for aerospace industry stated sales in the second quarter ending in June surged 38% to $5.6 billion. Net income in the quarter soared 29% to $494 million or $1.04 a diluted share compared to $382 million or $1.12.

The Washington Post Company (WPO) gained 1.8% or $10.09 to $569.70 after the media company said revenue in the second quarter ending in June grew 3% to $1.02 billion. Net income in the quarter declined 14% to $44.7 million or $6.02 a diluted share compared to $51.8 million or $6.84.

Rockwood Holdings, Inc. (ROC) slid 1.6% or $1.08 to $67.16 after the chemicals maker reported net sales in the second quarter ending in June advanced 8% to $822.3 million. Net income in the quarter surged 85.6% to $32.3 million or 41 cents a diluted share compared to $224.9 million or $2.81.

Tyson Foods, Inc. (TSN) climbed 4.1% or $1.17 to $29.68 after the meat processor said sales in the third quarter ending in June increased 5% to $8.7 billion. Net income in the quarter soared more than two-fold to $249 million or 68 cents a diluted share compared to $76 million or 21 cents.

Gross profit in the second quarter jumped 20% to $682 million and operating income climbed 23% to $419 million.

Viacom Inc. (VIA) fell 2 cents to $79.76 after the entertainment company reported revenues in the third quarter ending in June climbed 14% to $3.69 billion. Net earnings in the quarter surged 20% to $643 million or $1.31 a diluted share compared to $534 million or $1.01.

The company added operating income in the second quarter jumped 20% to $1.09 billion.

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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