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STOCK MOVERS

U.S. Movers: Fiat Chrysler, Ford, GM, Cummins, CVS, Ecolab, Oracle, Pfizer


Author: Mukesh Buch
ticker.com
Last Update: 10:15 AM ET May 03 2016

12:00 PM New York Fiat Chrysler and Ford April sales jumped but GM sales fell. Cummins net and revenues tumbled. CVS Health net declined but sales jumped 19%. Duke Energy net plunged 20%. Ecolab net slid. Oracle agreed to acquire Opower Inc for $532 million. Pfizer sales and profit surged.

Tollbooth Index slipped 90.39 or 0.9% to 10,502.60.

Earnings Review

Cummins Inc (CMI) increased 1.2% or $1.35 to $117.85 after the diesel engines maker said revenues in the first-quarter ending in March plunged 9% from a year ago to $4.29 billion.

Net income in the quarter tumbled 17% to $321 million or $1.87 per diluted share compared to $387 million or $2.14 per share from the same quarter last year.

CVS Health Corp (CVS) gained 2.3% or $2.34 to $103.78 after the pharmacy stores network operator reported net revenues in the first-quarter ending in March soared 18.9% from a year ago to $43.2 billion.

Net income in the quarter declined 6.1% to $1.15 billion or $1.04 per diluted share compared to $1.22 billion or $1.07 per share from the same quarter last year.

The healthcare company estimated free cash flow in fiscal 2016 between $5.9 billion and $6.2 billion and cash flow from operations in the range of $7.6 billion to $7.9 billion.

Duke Energy Corp (DUK) added 3 cents to $78.97 after the energy company stated revenues in the first-quarter ending in March slumped 7.3% from a year ago to $5.62 billion.

Net income in the quarter plunged 19.7% to $694 million or $1.01 per diluted share compared to $864 million or $1.22 per share from the same quarter last year.

Duke Energy reaffirmed on proposed acquisition of Piedmont Natural Gas Company, Inc in this fiscal year.

Ecolab Inc (ECL) slipped 29 cents to $113.95 after the technological services provider said net sales in the first-quarter ending in March dropped 6% from a year ago to $3.10 billion.

Net income in the quarter slid 1% to $230.8 million compared to $233.4 million and diluted earnings per share were flat at 77 cents from the same quarter last year.

Estee Lauder Companies Inc (EL) dropped 3.1% or $2.99 to $94.14 after the cosmetic products maker reported net sales in the third-quarter ending in March rose 3% from a year ago to $2.66 billion.

Net income in the quarter fell 2.4% to $265.6 million or compared to $272.1 million and diluted earnings per share were flat at 71 cents from the same quarter last year.

The skin and hair care products maker forecasted net sales in fiscal 2016 to increase between 4% and 5% and diluted earnings per share in the range of $3 and $3.07 from a year ago period.

Fiat Chrysler Automobiles NV (FCAU) dropped 2.6% or 22 cents to $7.99 after the vehicle maker stated U.S. sales in April jumped 6% to 199,631 vehicles compared to 189,027 vehicles a year ago month.

Total passenger car sales in the month declined 7% to 57,130 vehicles while total truck sales soared 13% to 96,691 vehicles.

Fiat brand sales plunged 19% to 3,045 vehicles and RAM Pickup vehicles sales rose 8% to 41,079 units while RAM truck brand sales surged 12% to 45,810 units.

Chrysler brand sales plunged 18% to 22,843 units and Dodge brand sales fell 3% to 43,575 units.

Ford Motor Company (F) fell 1.1% or 15 cents to $13.47 after the automaker reported its best monthly U.S. Retail Sales since 2006 and record monthly sales for SUV. April total U.S. vehicles sales jumped 4% to 231,316 vehicles.

Passenger car sales in the month declined 12% to 63,285 units while utility vehicle sales rose 7.7% to 72,459 units and trucks sales soared 14.8% to 95,572 while Lincoln sales surged 20.2% to 9,776 units.

Ford SUV sales in the month advanced 4.4% to 65,474 vehicles and sales in F-Series jumped 12.6% to 70,774 vehicles from a year ago month.

The company said average transaction pricing in April for the full line up increased to $1,500 compared to a year ago and $700 higher from the industry average increase.

General Motors Company (GM) slid 1.1% or 35 cents to $31.40 after the automaker reported April total sales slumped 3.5% to 259,557 units while retail sales in the month rose 3.3% to 200,656 units.

GM said April sales in Chevrolet segment fell 2.3% to 183,442 units but retail sales jumped 4.5% to 134,562 units but sales in Cadillac plunged 28.9% to 11,236 units and sales in Buick segment fell 2.8% to 17,720 from a year ago month.

The automaker said average transaction prices in April were $35,400, more than $4,200 above the industry average while incentive spending in April was 10.3%, well below domestic and Asian competitors but in line with the industry average of 10.2%.

HCA Holdings Inc (HCA) declined 4.8% or $3.91 to $77.38 after the healthcare services provider said revenues in the first-quarter ending in March jumped 6% from a year ago to $10.26 billion.

Net income in the quarter surged 17.4% to $694 million or $1.69 per diluted share compared to $591 million or $1.36 per share from the same quarter last year.

The company lowered diluted earnings per share forecast between $6 and $6.45 from earlier estimated range of $6.20 to $6.65.

Oracle Corporation (ORCL) decreased 1.6% or 65 cents to $39.65 after the enterprise software developer agreed to acquire cloud-based software provider Opower Inc for $10.30 per share or $532 million in cash.

The transaction is expected to close in 2016.

Pfizer Inc (PFE) jumped 3.3% or $1.07 to $33.88 after the biopharmaceutical company said total revenues in the first-quarter ending in March surged 20% from a year ago to $13 billion.

Net income in the quarter soared 27% to $3.02 billion or 49 cents per diluted share compared to $2.38 billion or 38 cents per share from the same quarter last year.

Pfizer lifted fiscal 2016 revenues forecast to between $51 billion and $53 billion from the earlier guidance between $49 billion and $51 billion and diluted earnings per share in the range of $1.72 to $1.85 compared to the previous estimate between $1.54 and $1.67.
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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