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Market Update

Walgreens Offers $17.2 B to Rite Aid; Northrop Wins $80 B Contract


Author: Mukesh Buch
ticker.com
Last Update: 6:34 PM ET October 28 2015

12:30 PM New York Apple net and revenues surged. General Dynamics net rose. Hilton profit soared 53%. Intercontinental Exchange net soared 30%. Northrop secured Pentagon sweepstakes contract for $80 billion. Southern net surged 33%. Twitter net loss narrowed. Walgreens offered $17.2 billion to Rite Aid.

Tollbooth Index increased 93.27 or 0.9% to 10,949.18.

Earnings Review

Apple Inc (AAPL) jumped 2.3% or $2.66 to $117.22 after the mobile and media devices maker reported revenues in the fourth-quarter ending on September 26 soared 22.3% from a year ago to $51.5 billion.

Net income in the quarter surged 30.6% to $11.1 billion or $1.96 per diluted share compared to $8.5 billion or $1.42 per share from the same quarter last year.

Revenues in America in the quarter jumped 8% to $21.8 billion and revenues in Greater China doubled to $12.5 billion from $6.29 billion in a year ago period. Revenues in Asia Pacific region soared 27% to $2.70 billion.

Apple said iPhone unit sales in the quarter surged 22.3% to 48 million units but sales of iPad tumbled 20% to 9.8 million units while unit sales in Mac rose 3% to 5.7 million units.

For the first-quarter, Apple forecasted revenue between $75.5 billion and $77.5 billion and gross margin between 39% and 40%.

General Dynamics Corporation (GD) gained 1.1% or $1.68 to $150.08 after the aerospace and defense group reported revenues in the third-quarter ending in September increased 3.1% from a year ago to $7.99 billion.

Net income in the quarter jumped 5.3% to $733 million or $2.28 per diluted share compared to $696 million or $2.06 from the same quarter last year.

Hilton Worldwide Holdings Inc (HLT) slipped 1.2% or 31 cents to $25 after the hotels and motels operator said total revenues in the third-quarter ending in September jumped 9.8% from a year ago to $2.90 billion.

Net income in the quarter soared 52.5% to $279 million or 28 cents per diluted share compared to $183 million or 19 cents from the same quarter last year.

Intercontinental Exchange Inc (ICE) rose 28 cents to $255.99 after the trading exchanges operator stated total revenues in the third-quarter ending in September advanced 9.4% from a year ago to $3.388 billion.

Net income in the quarter soared 30.4% to $904 million or $8.10 per diluted share compared to $693 million or $6.02 from the same quarter last year.

Northrop Grumman Corporation (NOC) soared 5.5% or $9.91 to $190.58 after the security products maker said net sales in the third-quarter ending in September was nearly flat from a year ago at $5.98 billion.

Net income in the quarter jumped 9.1% to $516 million or $2.75 per diluted share compared to $473 million or $2.26 from the same quarter last year.

Separately yesterday, the company said the U.S. Air Force has selected to deliver the nation''s new Long-Range Strike Bomber, wining the Pentagon sweepstakes contract valued at as much as $80 billion to deploy Bombers in the mid-2020.

Occidental Petroleum Corporation (OXY) jumped 5.3% or $3.71 to $73.91 after the oil and gas explorer reported revenues in the third-quarter ending in September plunged 34.1% from a year ago to $3.25 billion.

Net income in the quarter tumbled to $24 million or 3 cents per diluted share compared to $1.05 billion or $1.34 from the same quarter last year.

Southern Company (SO) rose 28 cents to $45.94 after the public utility provider said total revenues in the third-quarter ending in September increased 1.1% from a year ago to $5.40 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