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STOCK MOVERS

U.S. Movers: Apple, Clorox, Exelon, Estee Lauder, Reynolds, Time Warner


Author: Mukesh Buch
ticker.com
Last Update: 11:03 PM ET May 03 2017

2:10 PM New York Apple net and revenues jumped but iPhone sales fell. Clorox lifted earnings forecast. Exelon net surged on 16% jump in revenues. Estee Lauder profit jumped on improved demand. Harris net fell. Intercontinental Exchange net soared. Reynolds net plunged. Time Warner net jumped.

Tollbooth Index slid 5.94 to 12,098.54.

Earnings Review

Apple Inc (AAPL) fell 1% or $1.46 to $146.04 after the mobile and media devices maker reported revenues in the second-quarter ending in March advanced 4.5% from a year ago to $52.9 billion.

Net income in the quarter jumped 4.8% to $11 billion or $2.10 per diluted share from $10.5 billion or $1.90 in the same quarter last year.

Apple said iPhone sales in the quarter declined to 50.76 million from 51.19 million a year earlier and revenue in the China region declined 14.1% to $10.73 billion.

''''We are proud to report strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus, said chief executive officer Tim Cook.

Apple said it plans to launch its new iPhones in September.

Apple said its board authorized $50 billion to return to shareholders and extended timeframe by four quarters. Under the expanded program, Apple plans to return a total of $300 billion by the end of March 2019.

Apple forecasted fiscal 2017 revenues in the third-quarter between $43.5 billion and $45.5 billion, gross margin between 37.5% and 38.5%.

The Clorox Company (CLX) rose $1.16 to $131.25 after the consumer and professional products maker said revenues in the third-quarter ending in March advanced 3.5% from a year ago to $1.5 billion.

Net income in the quarter jumped 6.2% to $172 million or $1.31 per diluted share from $162 million or $1.23 in the same quarter last year.

Clorox forecasted fiscal 2017 revenues in the range of 3% to 4% but the household cleaning products maker lifted diluted earnings per share forecast to between $5.25 and $5.35 from the earlier estimated range of $5.23 to $5.38.

Exelon Corporation (EXC) slipped 1.3% or 44 cents to $34.01 after the utility services provider stated revenues in the first-quarter ending in March soared 15.8% from a year ago to $8.8 billion.

Net income in the quarter surged to $995 million or $1.07 per diluted share from $173 million or 19 cents in the same quarter last year.

Estee Lauder Companies Inc (EL) jumped 4.6% or $3.99 to $91.47 after the skin care and makeup products maker reported revenues in the third-quarter ending in March jumped 8% from a year ago to $2.9 billion.

Net income in the quarter soared 12% to $298 million or 80 cents per diluted share from $265 million or 71 cents in the same quarter last year.

The skin care products maker forecasted fiscal 2017 revenues to increase between 4% and 5% from a year ago and diluted earnings per share in the range of $3.02 to $3.09.

Harris Corporation (HRS) slid 71 cents to $108.94 after the communications services provider said revenues in the third-quarter ending in March slumped 3.9% from a year ago to $1.5 billion.

Net income in the quarter tumbled 49.4% to $85 million or 69 cents per diluted share from $168 million or $1.34 in the same quarter last year.

Intercontinental Exchange Inc (ICE) decreased 1.2% or 73 cents to $59.92 after the financial and commodity trading services provider stated total revenues sales in the first-quarter ending in March declined 5.2% from a year ago to $1.47 billion.

Net income in the quarter soared 36% to $502 million or 84 cents per diluted share from $369 million or 62 cents in the same quarter last year.

Reynolds American, Inc (RAI) fell 36 cents to $64.51 after the cigarettes and other tobacco products maker said net sales in the first-quarter ending in March increased 1.1% from a year ago to $2.9 billion.

Net income in the quarter tumbled 78.1% to $780 million or 55 cents per diluted share from $3.6 billion or $2.49 in the same quarter last year.

Total first-quarter domestic cigarette volumes for decreased 4.4% and industry cigarette volume was down 3.1%.

Time Warner Inc (TWX) slid 9 cents to $99.24 after the media and entertainment services provider reported revenues in the first-quarter ending in March soared 6% from a year ago to $7.7 billion.

Net income in the quarter jumped 17.3% to $1.4 billion or $1.80 per diluted share from $1.2 billion or $1.51 in the same quarter last year.

The media company said revenue in Home Box Office increased 4% and in the Warner Bros unit jumped 8% and in Turner segment advanced 6%.
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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