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STOCK MOVERS

U.S. Movers: Archer Daniels, Cardinal Health, GM, Michael Kors, Omnicom


Author: Mukesh Buch
ticker.com
Last Update: 2:21 AM ET February 07 2017

2:10 PM New York Arrow Electronics plunged on weak outlook. Archer Daniels net tumbled 41%. Cardinal Health profit slid but revenues jumped. Church & Dwight net rose. GM profit plunged 71% while revenues soared 11%. Intercontinental Exchange net surged 12%. Omnicom net jumped.

Tollbooth Index increased 28.08 or 0.3% to 11,375.27.

Earnings Review

Arrow Electronics, Inc (ARW) plunged 7.4% or $5.50 to $69.08 after the electronic components provider said revenues in the fourth-quarter ending in December declined 4.8% from a year ago to $6.2 billion.

Net income in the quarter advanced 4.4% to $164.5 million or $1.81 per diluted share compared to the $158.5 million or $1.69 per share in the same quarter last year.

In the first-quarter, the electronic components maker forecasted total sales between $5.38 billion and $5.78 billion and diluted earnings per share in the range of $1.18 to $1.30.

Archer Daniels Midland Company (ADM) rose 30 cents to $44.32 after the food processing group reported revenues in the fourth-quarter ending in December grew 0.4% from a year ago to $16.5 billion.

Net income in the quarter tumbled 40.9% to $424 million or 73 cents per diluted share compared to the $718 million or $1.19 per share in the same quarter last year.

Cardinal Health Inc (CAH) jumped 3.2% or $2.43 to $78.39 after the healthcare services provider said revenues in the second-quarter ending in December jumped 5% from a year ago to $33.1 billion.

Net income in the quarter fell 0.6% to $324 million or $1.02 per diluted share compared to the $326 million or 98 cents per share in the same quarter last year.

The generic drugs maker forecasted earnings per share in the full-year in the range of $5.35 to $5.50 from earlier outlook of $5.40 to $5.60.

Church & Dwight Co., Inc (CHD) advanced 3.7% or $1.64 to $47.09 after the household, personal care and specialty products maker stated net sales in the fourth-quarter ending in December increased 2.6% from a year ago to $896 million.

Net in the quarter rose 1.2% to $110.4 million or 42 cents per diluted share compared to the $109.1 million or 41 cents per share in the same quarter last year.

General Motors Company (GM) declined 4.6% or $1.69 to $35.13 after the automaker reported revenues in the fourth-quarter ending in December soared 10.8% from a year ago to $43.9 billion.

Net income in the quarter plunged 70.7% to $1.8 billion or $1.19 per diluted share compared to the $6.3 million or $3.92 per share in the same quarter last year.

Intercontinental Exchange Inc (ICE) advanced 2.7% or $1.56 to $60.07 after the financial exchanges operator said revenues in the fourth-quarter ending in December jumped 27.6% from a year ago to $6 billion.

Net income in the quarter surged 11.8% to $1.4 billion or $2.37 per diluted share compared to the $1.3 million or $2.28 per share in the same quarter last year.

Michael Kors Holdings Ltd (KORS) tumbled 13.4% or $5.55 to $35.73 after the branded apparel and accessories designer stated total revenues in the third-quarter ending in December slumped 3.2% from a year ago to $1.35 billion.

Net income in the quarter plunged 7.9% to $271.3 million or $1.64 per diluted share compared to the $294.6 million or $1.59 per share in the same quarter last year.

In the fourth-quarter, Michael Kors forecasted total revenue to be between $1.04 billion and $1.06 billion and diluted earnings per share in the range of 68 cents to 72 cents.

Omnicom Group Inc (OMC) dropped 3.6% or $3.12 to $84.27 after the advertising and marketing services provider said revenues in the fourth-quarter ending in December increased 2.1% from a year ago to $4.2 billion.

Net income in the quarter jumped 5.6% to $348.7 million or $1.47 per diluted share compared to the $328.3 million or $1.35 per share 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