U.S. Movers: eBay, Netflix, Goodrich, McDonald

Bikram Pandey
21 Oct, 2010
New York City

AT&T Inc third quarter revenue rose 2.8% and net surged. Goodrich Corporation revenue increased 6%. McDonald

[R]12:30 PM New York - AT&T Inc third quarter revenue rose 2.8% and net surged. Goodrich Corporation revenue increased 6%. McDonald’s Corporation third quarter net revenue rose 6%. Philip Morris International Inc. net revenues rose 2.2%.[/R]

Of the stocks in the Dow, 25 increased, 5 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, The Home Depot, Inc. led the gainers with a rise of 3.90% followed by increase in McDonald’s Corporation of 2.57%, in United Technologies Corporation of 1.997%, in General Electric Company of 1.74%, Wal-Mart Stores, Inc. of 1.41%.

Bank of America Corporation led the decliners with a fall of 1.19% followed by decline in Caterpillar Inc. of 0.72%, in AT&T Inc. of 0.49%, in Verizon Communications Inc. of 0.25%.

Other Movers

AT&T Inc. ((T)) fell 1% or 30 cent to $28.31 after the worldwide telecommunication services provider reported third quarter revenue rose 2.8% to $31.6 billion from $30.7 billion in the same quarter last year. Net income in the quarter was $12.3 billion or $2.08 per diluted share, compared to net income of $3.2 billion or $0.54 per share for the year-ago quarter.

Altria Group, Inc. ((MO)) fell 0.1% or 3 cent to $24.89 after the holding company said third quarter net revenues increased 1.6% to $6.4 billion from $6.3 billion for the same quarter a year ago period. Net earnings in the quarter surged 28.2% to $1.13 billion or 54 cent per diluted share compared to net earnings of $0.88 billion or 42 cent per share a year earlier.

Alcon, Inc. ((ACL)) fell 0.4% or 69 cent to $168.07 after the eye care company said third quarter total sales increased 9.0% to $1.76 billion from $1.61 billion for the same quarter a year ago period. Net earnings in the quarter declined 13.4% to $446 million or $1.47 per diluted share compared to net earnings of $515 million or $1.71 per share a year ago period.

Abbott Laboratories ((ABT)) rose 1% or 53 cent to $52.95 after the healthcare company reported third quarter sales increased 11.8% to $8.7 billion from $7.8 billion for the same quarter a year ago period. Net earnings in the quarter decreased 39.8% to $891 million or 57 cents per diluted share compared to net earnings of $1,480 million or 95 cent per share for a year ago.

Children’s Place Retail Stores Inc ((PLCE)) plunged as much as 15% after it estimated fiscal third quarter earnings between $1.10 and $1.13 a share, lower than consensus estimate.

Entergy Corporation ((ETR)) declined 2.2% or $1.72 to $75.39 after the integrated energy company reported third quarter revenue was $6,332 million from $2,937 million for the same quarter a year ago period. Net income in the quarter was $492.88 millions or $2.62 per share compared to net income of $455.17 million or $2.32 per share a year earlier.

EnCana Corporation ((ECA)) decreased 1.8% or 52 cent to $27.97 after the Canada based natural gas company said third quarter net sales was to $2,425 million from $2,271 million a year ago. Net earnings in the quarter were $569 million or 77 cents per diluted share, compared to net earnings of $25 million or 3 cents per share in the previous year.

eBay Inc. ((EBAY)) surged 8.9% or $2.30 to $27.96 after the online marketplace third quarter net revenue increased 1% to $2,249 million from $2,238 million for the same quarter a year ago period. Net income in the quarter of $432 million or 33 cent per diluted share compared to net income of $350 million or 27 cent per share a year ago.

Fidelity National Financial Inc ((FNF)) dropped nearly 11% after the company said its chief executive officer stepped down and replaced by chief operating officer George P. Scanlon.

Goodrich Corporation ((GR)) soared 4.3% or $3.38 to $81.25 after the aerospace component supplier said third quarter net revenue increased 6% to $1,748 million from $1,648 million for the same quarter a year ago period. Net income in the quarter of $160 million or $1.25 per diluted share compared to net income of $145 million or $1.14 per share a year ago.

Kinder Morgan Energy Partners, L.P. ((KMP)) fell 0.1% or 12 cent to $71.27 after the pipeline transportation and energy storage company third quarter revenue was $2,060 million from $1,660.7 million for the same quarter a year ago period. Net income in the quarter was $320.8 million or 17 cents per diluted share compared to net income of $359.5 million or 43 cent per share a year ago.

McDonald’s Corporation ((MCD)) gained 2.1% or $1.69 to $79.10 after the food service industry reported third quarter net revenue rose 6% to $6,304.9 million, compared to $6,046.7 billion last year. Net income generated in the quarter 13% to $1,388.4 million or $1.29 per diluted share, compared to a net income of $1,261.0 million or $1.15 per share in the prior-year quarter.

Noble Corporation ((NE)) fell 0.5% or 19 cent to $34.81 after the offshore drilling contractor third quarter revenue was $613 million from $906 million for the same quarter a year ago period. Net income in the quarter of $86 million or $0.34 per diluted share compared to net income of $426 million or $1.63 per share a year ago period.

Philip Morris International Inc. ((PM)) rose 0.1% or 10 cent to $57.58 after the tobacco product maker said reported third quarter net revenues generated 2.2% to $16.94 billion from $16.57 million a year ago. Net income in the quarter rose 1.3% to $1.82 billion or 99 cent per share compared to net income of $1.80 million or 93 cent per share a year ago.

Raymond James Financial Inc ((RJF)) increased more than 2% after it reported fiscal fourth quarter net of 55 cents a share.

Seagate Technology plc ((STX)) decreased 1.3% or 20 cent to $15.01 after the Ireland based range of disk drive producer said first quarter revenue increased 20.4% to $2,697 million from $2,663 million for the same quarter a year ago period. Net income in the quarter was $149 million or 31 cents per diluted share compared to net income of $179 million or 35 cent per share for a year ago.

Terex Corp ((TEX)) plunged more than 8% after the crane maker reported lower than expected quarterly revenues.

Textron Inc. ((TXT)) increased 1.1% or 23 cent to $21.01 after the multi-industry company third quarter total revenues declined 2.7% to $2.48 billion from $2.55 billion for the same quarter a year ago period. Net loss in the quarter of $48 million or 17 cent per diluted share compared to net income of $4 million or 1 cent per share a year ago period.

Travelzoo Inc ((TZOO)) surged as much as 14% after the online travel agency reported third quarter earnings per share of 22 cents.

U.S. Bancorp ((USB)) gained 1.5% or 35 cent to $23.18 after the financial holding company third quarter net revenue increased 7.9% to $4,587 million from $4,250 million for the same quarter a year ago period. Net income in the quarter increased 50.6% to $603 million or 45 cent per diluted share compared to net income of $603 million or 15 per share a year earlier.

Wells Fargo & Company ((WFC)) increased 1.5% or 42 cent to $26.02 after the diversified financial services company third quarter net revenue decreased 7% to $20.87 billion from $22.47 billion for the same quarter a year ago period. Net income in the quarter increased 19% to $3,150 million or 60 cent per diluted share compared to net income of $2,637 million or 56 per share a year ago.