US Movers: Altera, Morgan Stanley, J&J and Yahoo

Mukesh Buch
20 Oct, 2010
New York City

Altera declined 2% after sales soared 84% and net soared nearly three-fold. Domino

[R]11:10 AM New York – Altera declined 2% after sales soared 84% and net soared nearly three-fold. Domino’s Pizza, Inc quarterly net increased 4.8%. Johnson & Johnson reported flat earnings. Intuitive Surgical, Inc sales increased 16% and net rose more than a third.[/R]

Of the stocks in the Dow, 26 increased, 4 decreased and 1 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, The Boing Company led the gainers with a rise of 2.22% followed by increase in E. I. du Pont de Nemours and Company of 1.20%, in Intel Corporation of 1.157%, in Exxon Mobil Corporation of 1.14%, McDonald’s Corporation of 1.08%.

Bank of America Corporation led the decliners with a fall of 3.98% followed by decline in United Technologies Corporation of 1.51%, in General Electric Company of 1.06%, in JPMorgan Chase & Co. of 0.13%.

Other Movers

Altera Corporation ((ALTR)) plunged 2.1% or 64 cent to $28.86 after the semiconductor company said third quarter net sales soared 84% to $527.45 million, from $286.61 million a year ago. Net income in the quarter increased 284% to $217.49 million or 69 cents per diluted share, compared to net income of $56.70 million or 19 cents per share in the previous year.

American Electric Power Company, Inc. ((AEP)) rose 0.6% or 23 cent to $36.75 after the holding company reported third quarter revenue was $4.1 billion from $ 3.5 billion in the prior year. Net income in the quarter was $555 million or $1.16 per diluted share compared to net income of $443 million or $0.93 per share a year earlier.

Boston Scientific Corporation ((BSX)) surged 7% or 42 cent to $6.39 after the medical device maker reported third quarter net sales fell 5.4% to $1.916 billion, compared to $2.025 billion last year. Net income generated in the quarter was $190 million or 12 cents per diluted share, compared to a net loss of $94 million or 6 cents per share in the prior-year quarter.

Domino’s Pizza, Inc ((DPZ)) rose 0.3% or 6 cent to $15.61 after the pizza company said third quarter revenue were $347.4 million compared to $302.7 million for the same period a year ago. Net income rose 4.8% to $16.6 million or 27 cent per diluted share compared to net income of $17.9 million or 31 cent per diluted share in the same quarter a year ago.

Gilead Sciences, Inc. ((GILD)) soared 4.8% or $1.79 to $38.52 after the biopharmaceutical company reported third quarter revenue increased 8% to $1.94 billion from $1.80 billion last year. Net income in the quarter rose 5% to $704.88 million or 83 cents per diluted share, compared to net income of $673.03 million or 72 cents per share in the previous year.

Harley-Davidson, Inc. ((HOG)) gained 1% or 32 cent to $30.62 after the motorcycle maker and retail financing company said third quarter net revenue was $1,087.1 million compared to $1,108.5 million for the same period a year ago. Net income was $88.8 million or 40 cent per diluted share compared to net income of $26.5 million or 24 cent per diluted share in the same quarter a year ago.

Intuitive Surgical, Inc ((ISRG)) slumped 7.1% or $20.04 to $259.00 after the surgical accessory maker reported third quarter revenue increased 16% to $344.4 million from $280.1 million for the same period a year ago. Net income was $86.6 million or $2.14 per diluted share compared to net income of $64.5 million or $1.64 per diluted share in the same quarter a year ago.

Illinois Tool Works Inc. ((ITW)) increased 1.2% or 57 cent to $47.05 after the industrial products and equipment maker stated third quarter total revenues increased 12.2% to $4.0 billion from $3.6 billion in the prior year. Net income in the quarter was $419 million or 84 cent per diluted share compared to net income of $302 million or 61 cent per share a year earlier.

Juniper Networks, Inc. ((JNPR)) gained 2.1% or 65 cent to $31.19 after the computer networking gear maker said third quarter total revenue rose 23% to $1.01 billion from
$823.91 million in the same quarter last year. Net income in the quarter surged 61% to $134.5 million or 25 cents per diluted share, compared to net income of $83.8 million or 16 cents per share for the year-ago quarter.

Johnson & Johnson ((JNJ)) rose 0.9% or 60 cent to $63.89 after the health care and and medical devices maker reported third quarter sales decreased 0.7% to $15.0 billion from $15.1 billion in the prior year. Net earnings in the quarter was $3.4 billion or $1.23 per diluted share compared to net earnings of $3.3 billion or $1.20 per share a year earlier.

Millicom International Cellular S.A. ((MICC)) rose 0.1% or 15 cent to $93.89 after the Luxembourg based mobile and broadband company reported third quarter revenue increased 13% to $1,018 million from $904 million in the prior year. Net income in the quarter was $1205 million or $11.09 per diluted share compared to net income of $143 million or $1.31 per share a year earlier.

Morgan Stanley ((MS)) declined 3.1% or 80 cent to $24.58 after the financial services firm reported third quarter net revenues fell 20% to $6.8 billion compared with $8.5
billion a year ago. Net income in the quarter slumped 67% to $313 million, or 5 cents per diluted share, compared with net income of $936 million, or 50 cents per diluted share, for the same period a year ago.

Parker-Hannifin Corporation ((PH)) rose 0.7% or 54 cent to $75.62 after the motion and control technology and system company said first quarter sales increased 26.5% to $2.8 billion from $2.2 billion in the prior year. Net income in the quarter was $249.0 million or $1.51 per diluted share compared to net income of $74.0 million or $0.45 per share a year earlier.

Stryker Corporation ((SYK)) increased 2.8% or $1.42 to $51.49 after the medical products maker said third quarter revenue gained 7% to $1,768 million compared to $1,653 million for the same period a year ago. Net earnings soared 47.5% to $337.7 million or 85 cent per diluted share compared to net earnings of $229.0 million or 57 cent per diluted share in the same quarter a year ago.

The Goldman Sachs Group, Inc ((GS)) gained 0.3% or 58 cent to $157.37 after the investment banking company reported third quarter revenue plunged 28% to $8,903 million from $12,372 million for the same period a year ago. Net income declined 43% to $1,737 million or $2.98 per diluted share compared to net income of $3,028 million or $5.25 per diluted share in the same quarter a year ago.

Weatherford International Ltd. ((WFT)) decreased 1.3% or 23 cent to $16.94 after the engineering equipment provider reported third quarter revenue increased 18% to $2,534.2 million from $2,149.9 million in the prior year. Net income in the quarter was $144.9 million or 19 cent per diluted share compared to net income of $77.4 million or 11 cent per share a year earlier.

Yahoo! Inc. ((YHOO)) surged 3.6% or 57 cent to $16.06 after the online media company said third quarter revenue gained 2% to $1,601 million compared to $1,575 million for the same period a year ago. Net earnings soared 113% to $396 million or 29 cent per diluted share compared to net earnings of $186 million or 13 cent per diluted share in the same quarter a year ago. Net earnings soared on the sale of job placement site HotJobs.