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STOCK MOVERS

U.S. Movers: Boeing, Cummins, Coca-Cola, Kellogg, Reuters, Yum! Brands


Author: Mukesh Buch
ticker.com
Last Update: 1:42 AM ET February 09 2017

2:10 PM New York Boeing secured 39 wide-body airplanes from Singapore Airlines. Cummins net surged. CVS Health net jumped 14%. Coca-Cola profit tumbled 56%. DTE Energy net soared 64%. Kellogg net advanced 16%. Reuters net surged on sell of IP & Science business unit. Twitter net loss widened.

Tollbooth Index increased 76.67 or 0.7% to 11,501.56.

Earnings Review

The Boeing Company (BA) gained 38 cents to $164.19 after the aerospace group said Singapore Airlines Ltd has announced to buy 20 777-9s and 19 787-10 Dreamliners.

The aircraft deal is worth based on the list price about $13.8 billion.

""Today''s major order for wide-body aircraft enables us to continue operating modern and fuel-efficient fleet with additional expansion opportunities to ensure to retain our industry-leading position,"""" chief executive officer Goh Choon Phong said.

Cummins Inc (CMI) jumped 3.6% or $5.08 to $150.76 after the diesel engines maker said revenues in the fourth-quarter ending in December dropped 6% from a year ago to $4.5 billion.

Net income in the quarter surged 134.8% to $378 million or $2.25 per diluted share compared to the $161 million or 92 cents per share in the same quarter last year.

Cummins said revenues in North America slumped 13% while international sales improved 6% mainly due to higher revenues in China.

Cummins forecasted full-year revenues may drop as much as 5% and operating profit to fall between 11% and 11.5% of sales.

CVS Health Corp (CVS) slipped 1.7% or $1.30 to $75.73 after the retail drugstores operator stated revenues in the fourth-quarter ending in December soared 11.7% from a year ago to $46 billion.

Net income in the quarter jumped 13.8% to $1.7 billion or $1.59 per diluted share compared to the $1.5 billion or $1.34 per share in the same quarter last year.

The drug retailer said in the year, it generated more than $8 billion in free cash and returned more than $6 billion to shareholders through dividend and share repurchases.

The Coca-Cola Co (KO) slumped 2.3% or 98 cents to $41.04 after the non-alcoholic beverage maker reported revenues in the fourth-quarter ending in December dropped 6% from a year ago to $9.4 billion.

Net income in the quarter tumbled 56% to $550 million or 13 cents per diluted share compared to the $1.2 billion or 28 cents per share in the same quarter last year.

Coca-Cola said global sales fell 1%, with 4% decline in Latin America but increased 1% in both North America and Europe. Sales of sparkling beverages rose 1% in North America.

""""This is a pivotal time of change for our company,"""" Coca-Cola''''s next chief executive officer James Quincey said in a call with investors.

DTE Energy Co (DTE) decreased 1% or $1.03 to $97.66 after the diversified energy group said revenues in the fourth-quarter ending in December advanced 15.3% from a year ago to $2.9 billion.

Net income in the quarter soared 63.7% to $131 million or 73 cents per diluted share compared to the $80 million or 45 cents per share in the same quarter last year.

The energy group reaffirmed earnings per share in 2017 in the range of $5.15 to $5.46.

Kellogg Company (K) jumped 3.7% or $2.75 to $76.24 after the ready-to-eat cereal and convenience foods maker reported net sales in the fourth-quarter ending in December fell 1.4% from a year ago to $3.1 billion.

Net income in the quarter advanced 15.6% to $324 million or 92 cents per diluted share compared to the $279 million or 79 cents per share in the same quarter last year.

Kellogg estimated earnings per share in the full-year between $3.91 and $3.97.

Thomson Reuters Corp (TRI) declined 3.2% or $1.43 to $43.23 after the news and professional information services provider said revenues in the fourth-quarter ending in December slid 1% from a year ago to $2.9 billion.

Net income in the quarter surged to $2.2 billion or $3.03 per diluted share compared to the $417 million or 53 cents per share in the same quarter last year.

Reuters said higher profit was mainly due to $2 billion gain on the sale of IP & Science business in October 2016. After adjusting for the sale and charges linked to discontinued operations, the company earned 60 cents a share compared to $417 million or 53 cents a share.

""""This is another steady quarter of progress,"""" chief executive officer Jim Smith said.
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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