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STOCK MOVERS

U.S. Movers: Apple, Amazon, Exxon Mobil, Alphabet, Merck, Phillips 66


Author: Mukesh Buch
ticker.com
Last Update: 12:03 PM EST February 02 2018

11:55 AM New York City, New York – Apple stock fell on the worries that the latest version of iPhone sales may falter on high prices. Amazon profit jumped after strong holiday sales. Exxon Mobil profit quintupled on tax benefit. Alphabet slumped after quarterly results declined. Phillips 66 reported strong quarterly profit.

Tollbooth Index declined 250.23 or 1.7% to 14,391.39.

Earnings Review

Alphabet Inc (GOOG) slumped 4.2% or $48.60 to $1,119.10 after the search engine services provider reported revenues in the fourth-quarter ending in December jumped 23.7% from a year ago to $32.3 billion.

Net in the quarter swung to profit $5.3 billion or $7.56 per diluted share from a loss of $3 billion or $4.35 in the same quarter last year.

Apple Inc (AAPL) dropped 2.4% or $4.04 to $163.81 after the mobile, media devices and personal computers maker reported revenues in the first-quarter ending in December soared 13% from a year ago to $88.3 billion.

Net income in the quarter jumped 12.3% to $20.1 billion or $3.89 per diluted share from $17.9 billion or $3.36 in the same quarter last year.

Apple forecasted fiscal second quarter revenues between $60 billion and $62 billion and gross margin in the range of 38% to 38.5% and operating expenses between $7.6 billion and $7.7 billion.

“Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through capital return program,” said chief financial officer Luca Maestri.

Amazon.com, Inc (AMZN) soared 6.1% or $84.19 to $1,472.19 after the online market place operator and retailer said net sales revenues in the fourth-quarter ending in December surged 38% from a year ago to $60.5 billion.

Net income in the quarter jumped 153.7% to $1.9 billion or $3.75 per diluted share from $749 million or $1.54 in the same quarter last year.

Chevron Corp (CVX) declined 3.8% or $4.80 to $120.76 after the petroleum refiner and retailer reported total revenues in the fourth-quarter ending in December jumped 19.4% from a year ago to $37.6 billion.

Net income in the quarter surged to $3.1 billion or $1.64 per diluted share from $415 million or 22 cents in the same quarter last year.

Chevron profit includes non-cash provisional tax benefits of $2.02 billion related to U.S. tax reform.

Exxon Mobil Corporation (XOM) plunged 5.7% or $5.10 to $83.97 after the oil and gas refiner said total revenues in the fourth-quarter ending in December surged 17.9% from a year ago to $66.5 billion.

Net income in the quarter quintupled to $8.4 billion or $1.97 per diluted share from $1.7 billion or 41 cents in the same quarter last year.

Exxon distributed $3.3 billion in dividends to shareholders.

Merck & Co., Inc (MRK) fell 27 cents to $59.59 after the healthcare products maker said sales in the fourth-quarter ending in December rose 3% from a year ago to $10.4 billion.

Net loss in the quarter widened to $872 million or 32 cents per diluted share from $594 billion or 22 cents in the same quarter last year.

Phillips 66 (PSX) dropped 2.1% or $2.12 to $98.54 after the oil and gas producer reported revenues in the fourth-quarter ending in December advanced 27% from a year ago to $30.1 billion.

Net income in the quarter jumped to $3.2 billion or $6.25 per diluted share from $163 million or 31 cents in the 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