1:25 PM New York Alibaba results beat estimates and lifted growth outlook. Automatic Data Processing net jumped 9% on 6% increase in revenues. Becton Dickinson net profit surged. CIGNA net plunged 23% but lifted earnings outlook. DowDuPont net tumbled 29%. Yum! Brands net declined 35%.
Tollbooth Index advanced 42.17 or 0.3% to 13,100.64.
Alibaba Group Holding Ltd
) rose 24 cents to $186.29 after China-based online market place reported revenues in the third-quarter ending in September soared 61% from a year ago to $8.3 billion and net income in the quarter surged 146% to $2.6 billion and diluted earnings per share increased to $1.02.
Alibaba lifted fiscal 2017 revenues growth forecast to between 49% and 53% from the earlier estimate of 45% to 49%.
Automatic Data Processing Inc
) slipped 1.7% or $1.90 to $113.50 after outsourcing services provider said revenues in the first-quarter ending in September advanced 6% from a year ago to $3.1 billion.
Net income in the quarter jumped 9% to $401.5 million or 90 cents per diluted share from $368.7 million or 81 cents in the same quarter last year.
We return to expected new business bookings growth of 5% to 7% for fiscal 2018, said president and chief executive officer Carlos Rodriguez.
Becton Dickinson and Co
) jumped 6.8% or $14.14 to $222.20 after the laboratory and diagnostic equipment supplier stated revenues in the fourth-quarter ending in September dropped 3.1% from a year ago to $12.1 billion.
Net income in the quarter surged to $289 million or $1.24 per diluted share from $19 million or 9 cents in the same quarter last year.
The laboratory equipment supplier forecasted fiscal 2017 revenues to increase between 5% to 6% and diluted earnings per share to be between $10.55 and $10.65.
) rose 34 cents to $198.18 after the insurance services provider said total revenues in the third-quarter ending in September advanced 5% from a year ago to $10.4 billion.
Net income in the quarter plunged 22.8% to $560 million or $2.21 per diluted share from $456 million or $1.76 in the same quarter last year.
Cigna estimated fiscal 2017 net income in the range of $2.60 billion to $2.65 billion and diluted earnings per share in the range of $10.20 to $10.40.
) slipped 1.9% or $1.43 to $71.89 after the diversified chemicals producer reported revenues in the third-quarter ending in September soared 23% from a year ago to $15.4 billion.
Net income in the quarter tumbled 29% to $514 million or 32 cents per diluted share from $719 million or 63 cents in the same quarter last year.
Dow said sales in Europe, Middle East and Africa and in Asia Pacific jumped double-digits and sales in North America increased 4% while sales in Latin America declined.
Intercontinental Exchange Inc
) advanced 3.7% or $2.42 to $68.64 after the securities exchanges operator said total revenues in the third-quarter ending in September were nearly flat from a year ago at $1.43 billion.
Net income in the quarter jumped 7.3% to $369 million or 62 cents per diluted share from $344 million or 57 cents in the same quarter last year.
Separately, the exchanges operator plans to launch share buyback plan of up to $1.2 billion.
Yum! Brands, Inc
) soared 6.1% or $4.56 to $78.86 after the quick service restaurants operator reported revenues in the third-quarter ending in September plummeted 5% from a year ago to $1.4 billion.
The restaurants operator said worldwide system sales in the quarter jumped 6% with KFC sales soared 7%, Taco Bell sale increased 6% and Pizza Hut advanced 3%.
Same store sales in the quarter at KFC stores advanced 4%, at Taco Bell stores grew 3%, at Pizza Hut stores rose 1% and worldwide same store sales increased 3%.
Net income in the quarter declined 35% to $418 million or $1.18 per diluted share from $640 million or $1.07 in the same quarter last year.