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U.S. Movers: Ball, Becton, Dickinson, Cigna, Cardinal Health, HCP, NY Times


Author: Mukesh Buch
ticker.com
Last Update: 1:04 PM EDT May 03 2018

1:00 PM New York City, New York Ball Corp reported better-than-expected first-quarter results. Becton, Dickinson net swung to a loss but revenues surged 42%. Cigna lifted fiscal outlook. Cardinal Health net plunged and lowered fiscal earnings outlook. HCP net tumbled. New York Times profit soared 66%.

Tollbooth Index declined 183.95 or 1.2% to 14,533 but for the year-to-date jumped 5.5%.

Earnings Review

Ball Corporation (BLL) dropped 2.5% or 96 cents to $37.54 after the packaging solutions provider said revenues in the first-quarter ending in March soared 12.6% from a year ago to $2.8 billion.

Net income in the quarter surged to $125 million or 35 cents per diluted share from $68 million or 19 cents in the same quarter last year.

Becton, Dickinson and Company (BDX) slumped 2.3% or $5.30 to $224.89 after the medical and surgical products reported revenues in the first-quarter ending in March surged 42.2% from a year ago to $4.2 billion.

Net in the quarter swung to a loss of $50 million or 19 cents per diluted share from profit of $114.5 million or $1.58 in the same quarter last year.

Becton, Dickinson lifted fiscal 2018 revenues growth forecast in the range of 31% to 31.5% from the earlier estimate of 30% to 31% and diluted earnings per share to increase in the range of $10.90 and $11.05 from the earlier estimate of $10.85 to $11.

Cigna Corporation (CI) slipped 1.9% or $3.38 to $168.99 after the health insurance services provider said total revenues in the first-quarter ending in March jumped 9% from a year ago to $11.4 billion.

Net income in the quarter soared 53% to $915 million or $3.72 per diluted share from $598 million or $2.30 in the same quarter last year.

Cigna forecasted fiscal 2018 total revenue growth between 7% and 8% and lifted operating income estimate in the range of $3.17 billion to $3.27 billion from the earlier estimate of $3.08 billion and $3.2 billion and diluted earnings per share in the range of $12.85 to $13.25.

Cardinal Health Inc (CAH) tumbled 18.6% or $11.99 to $52.66 after the pharmaceuticals and medical supplies distributor stated revenues in the first-quarter ending in March advanced 6% from a year ago to $33.6 billion.

Net income in the quarter plunged 33% to $255 million or 81 cents per diluted share from $381 million or $1.20 in the same quarter last year.

Cardinal Health lowered fiscal 2018 diluted earnings per share forecast in the range of $4.85 to $4.95 from the earlier estimate of $5.25 to $5.50.

HCP, Inc (HCP) rose 3 cents to $23.47 after the diversified healthcare services provider said total revenues in the first-quarter ending in March fell 2.6% from a year ago to $479.2 million.

Net income in the quarter tumbled 91.4% to $39.8 million or 8 cents per diluted share from $460.4 million or 97 cents in the same quarter last year.

The New York Times Company (NYT) edged up 2 cents to $23.03 after the newspaper publisher reported total revenues in the first-quarter ending in March rose 3.8% from a year ago to $413.9 million.

Net income in the quarter soared 66.2% to $21.9 million or 13 cents per diluted share from $13.2 million or 8 cents in the same quarter last year.

The media publisher forecasted second-quarter total subscription revenues to increase in the mid-single digits and total advertising revenues to decrease in the low-teens from a year ago period.
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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