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Market Update

eBay Rises; AutoNation, Danaher, SanDisk Plunge


Author: Mukesh Buch
ticker.com
Last Update: 2:48 AM ET July 17 2014

12:15 PM New York Baker Hughes net surged 47% on 8% increase of revenue. Danaher net jumped 9%. eBay profit advanced 6% and sales climbed 13%. Morgan Stanley net surged 131%. Philip Morris net declined 13%. SanDisk tumbled on outlook.

Tollbooth Index slipped 0.9% or 85.48 to 9,421.02.

Earnings Review

Alliance Data Systems Corporation (ADS) gained 98 cents to $276.15 after the data-driven marketing provider reported revenues in the second-quarter ending in June surged 23% to $1.26 billion from a year ago.

Net income in the quarter fell 2.2% to $137.4 million or $2.19 a diluted share compared to $116.4 million or $1.71 from a same quarter last year.

AutoNation, Inc. (AN) tumbled 7.6% or $4.62 to $56.22 after the automotive retailer said total revenue in the second-quarter ending in June rose 1.9% to $4.79 billion from a year ago period.

Net income in the quarter climbed 11.7% to $100.4 million or 83 cents a diluted share compared to $89.9 million or 73 cents from a year ago.

Baker Hughes Inc (BHI) slumped 2.3% or $1.68 to $72.73 after the oilfield service provider reported revenue in the second-quarter ending in June jumped 8.2% to $5.94 billion from a year ago.

Net earning in the quarter surged 47% to $353 million or 80 cents a diluted share compared to $240 million or 54 cents from a same quarter last year.

Danaher Corporation (DHR) plunged 4.5% or $3.58 to $74.92 after the medical, industrial and commercial products maker said revenue in the second-quarter ending on June 27 rose 3% to $5 billion from a year earlier.

Net earning in the quarter jumped 9% to $676.4 million or 95 cents a diluted share compared to $616.8 million or 87 cents from a same quarter last year.

The company forecasted diluted net earnings per share for the third-quarter in the range of 86 cents to 89 cents but narrowing its diluted net earnings per share for the year between $3.67 and $3.72.

eBay Inc. (EBAY) jumped 1.5% or 77 cents to $51.47 after the online market place stated total revenue in the second-quarter ending in June climbed 13% to $4.4 billion from a year ago.

Net income in the quarter advanced 6% to $676 million or 53 cents a diluted share compared to $640 million or 69 cents from a year ago period.

Morgan Stanley (MS) rose 2 cents to $32.52 after the financial service company net revenue in the second-quarter ending in June grew 1.2% to $8.61 billion from a year ago.

Net earning in the quarter surged 131% to $1.57 billion or 94 cents a diluted share compared to $803 million or 41 cents from a same quarter last year.

Philip Morris International Inc. (PM) increased 1.1% or 93 cents to $85.63 after the tobacco products maker said net revenue in the second-quarter ending in June increased 2.8% to $21.05 billion from a year ago.

Net income in the quarter declined 12.9% to $1.85 billion or $1.17 a diluted share compared to $2.12 billion or $1.30 from a same quarter last year.

SanDisk Corporation (SNDK) tumbled 12.3% or $13.24 to $94.59 after the data storage solution provider reported total revenue in the second-quarter ending on June 29 climbed 11% to $1.63 billion from a year ago period.

Net income in the quarter jumped 4.6% to $274 million or $1.14 a diluted share compared to $262 million or $1.06 from a year ago.

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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