U.S. Movers: Apple, Goldman Sachs, IBM, Wells Fargo

Mukesh Buch
19 Jan, 2011
New York City

Apple first quarter net sales surged 71% on record holiday sales. Amgen signed an agreement to sell a California facility to Boehringer Ingelheim. IBM fourth quarter total revenue increased 6.6%. Goldman Sachs fourth quarter net revenues fell 10% and net plunged 51%.

[R]11:00 AM New York – Apple first quarter net sales surged 71% on record holiday sales. Amgen signed an agreement to sell California facility to Boehringer Ingelheim. IBM fourth quarter total revenue increased 6.6%. Goldman Sachs fourth quarter net revenues fell 10% and net plunged 51%.[/R]

Of 30 the stocks in the Dow, 13 increased and 17 decreased.

Of the stocks in the Dow Jones Industrial Average, International Business Machines Corp. led the gainers with a rise of 2.60% followed by increase in Verizon Communications Inc. of 0.82%, in McDonald’s Corporation of 0.35%, in Merck & Co. Inc. of 0.35% in Hewlett-Packard Company of 0.22%.

American Express Company led the decliners with a fall of 3.19%, followed by decline in The Travelers Companies, Inc. of 0.93%, in The Home Depot, Inc of 0.75%, in Bank of America Corporation of 0.67%, in Wal-Mart Stores, Inc. of 0.57%.

Other Movers

Amphenol Corporation ((APH)) decreased 1.4% or 75 cents to $52.14 after the high-speed specialty cable manufacturer reported fourth quarter net sales were $949.9 million from $758.3 million a year ago. Net income in the quarter was $131 million or 74 cents per diluted share compared to $87.6 million or 50 cents per share a year ago period.

ASML Holding N.V. ((ASML)) declined 3.5% or $1.41 to $38.69 after the technology company reported fourth quarter net sales were 1,521 million euros from 581 million euros a year ago. Net income in the quarter increased 26.7% to 407 million euros or 93 cents per diluted share compared to 50.2 million euros or 12 cents per share a year ago.

Apple Inc. ((AAPL)) increased 1.4% or $4.87 to $345.52 after the electronic gadget maker said first quarter net sales surged 71% to $26.74 billion from $15.58 billion in the same quarter last year. Net income in the quarter soared 78% to $6 billion or $6.43 per share, compared to net income of $3.38 billion or $3.67 per share for the year-ago quarter, driven by record sales of Macintosh computers, iPhones and iPad multimedia devices.

Abraxas Petroleum Corporation ((AXAS)) slipped 1.5% or 7 cents to $4.59 after the energy company plans to sell its 10 million shares to clear the debt and to increase the capital spending. Certain selling stockholders intend to offer 8.50 million shares but subject to market condition.

Amgen Inc ((AMGN)) fell 0.8% or 48 cents to $56.81 after the biotechnology medicine company signed an agreement to sell Boehringer Ingelheim will acquire Amgen's rights in and substantially all assets at Amgen's Fremont California development and manufacturing facility. Boehringer Ingelheim has been a contract manufacturer for Amgen for more than ten years.

Cree, Inc. ((CREE)) tumbled 14.1% or $8.88 to $53.83 after the manufacturer of semiconductor materials and devices said second quarter revenues grew 29% to $257 million from $199.5 million a year earlier. Net income in the quarter soared 47% to $49.8 million or 45 cents per diluted share, compared to net income of $33.8 million or 32 cents a year ago and helped by continued growth in LED lighting products.

Hudson City Bancorp, Inc. ((HCBK)) plunged 5.9% or 78 cents to $12.38 after the holding company reported fourth quarter total interest was $643 million from $746 million a year ago. Net income in the quarter was $121 million or 25 cents per diluted share compared to $137 million or 28 per share a year ago.

International Business Machines Corp. ((IBM)) gained 2.9% or $4.39 to $155.04 after information technology company reported fourth quarter total revenue increased 6.6% to $29.02 billion from $27.23 billion last year. Net income in the quarter increased 9.1% to $5.25 billion or $4.18 per share, compared to net income of $4.81 billion or $3.59 per share in the previous year.

Revenues for 2010 rose 4% to $99.9 billion, from $95.8 billion in 2009. For the full-year 2010 net income was $14.8 billion or $11.52 per share compared with $13.4 billion or $10.01 per share in the year-ago period.

iGATE Corporation ((IGATE)) rose 0.1% or 3 cents to $16.28 after the outsourcing company reported fourth quarter revenue increased 55% to $81 million from $52.4 million a year ago. Net income in the quarter rose 71% to $17.7 million or 25 cents per diluted share compared to $8.6 million or 15 cents per share a year ago.

Linear Technology Corporation ((LLTC)) slumped 3.5% or $1.28 to $34.85 after the IC maker Tuesday reported second quarter revenues increased 50% to $383.62 million from $256.36 million last year. Net income in the quarter increased 90% to $143.74 million or 62 cents per diluted share, compared to net income of $75.54 million or 33 cents per share in the previous year.

Northern Trust Corporation ((NTRS)) declined 3.3% or $1.85 to $53.79 after the financial holding company reported fourth quarter total revenue declined 5% to $906.4 million from $950.2 million in the prior-year quarter. Net income in the quarter fell 22% to $157.1 million or 64 cents per diluted share, compared to net income of $200.3 million or 82 cents per share last year.

State Street Corporation ((STT)) decreased 2.9% or $1.45 to $48.61 after the financial holding company stated fourth quarter total revenue declined 11% to $2.04 billion from $2.28 billion in the prior-year period. Net income in the quarter slumped 84% to $81 million or 16 cents per diluted share, compared to net income of $498 million or $1.00 in the year-ago period.

Goldman Sachs Group, Inc ((GS)) plunged 2.5% or $4.50 to $170.18 after the bank holding and investments said fourth quarter net revenues were $8.64 billion from $9.61 billion a year ago. Net earnings in the quarter were $2.23 billion or $3.79 per diluted share compared to $4.79 billion or $8.20 per share a year ago period.

The Bank of New York Mellon Corporation ((BK)) rose 0.1% or 5 cents to $32.07 after the global financial services company reported fourth quarter total fee revenue grew 16% to $2.97 billion from $2.56 billion in the year-ago quarter. Net income in the quarter rose 15% to $679 million or 54 cents per diluted share, compared to net income of $593 million or 49 cents per share in the prior-year quarter.

The Mosaic Company ((MOS)) slumped 6% or $5.17 to $79.90 after the agriculture industry and Cargill, a privately held international agriculture, financial and industrial product jointly announced transaction that would result in distribution of Cargill's 64% stake of $24.3 billion or 286 million share positions, in Mosaic to Cargill's shareholders. The transaction is expected to close in the second quarter of 2011.

U.S. Bancorp ((USB)) decreased 2% or 56 cents to $26.75 after the financial services holding company stated fourth quarter total net revenues increased 7.9% to $4.7 billion from $4.4 billion a year ago. Net income in the quarter rose 61.5% to $974 million or 49 cents per diluted share compared to $580 million or 30 cents of per share a year ago.

Wells Fargo & Company ((WFC)) plunged 1.4% or 46 cents to $32.03 after the diversified financial services company reported fourth quarter revenue surged 12% to $21.5 billion from $20.9 billion in the year-ago quarter. Net income in the quarter soared 21% to $3.41 billion or 61 cents per diluted share, compared to $3.34 billion or 60 cents per share in the prior-year quarter.

Western Digital Corp. ((WDC)) slipped 1.9% or 67 cents to $33.28 after the hard drive maker reported second quarter revenue dropped 5.4% to $2.47 billion from $2.61 billion last year. Net income in the quarter plunged 48% to $225 million or 96 cents per diluted share compared to net income of $429 million or $1.85 per share in the year-ago period.