U.S. Movers: AMD, Google, GE, Bank of America, Polycom

Mukesh Buch
21 Jan, 2011
New York City

Air Products and Chemicals first quarter revenues were increased 10% to $2.39 billion. Bank of America net of interest expense fell 11% to $22.6 billion. Google Inc. fourth quarter revenues increased 26% to $8.44 billion. General Electric fourth quarter revenues increased 1% to $41.38 billion.

[R]11:50 AM New York – Air Products and Chemicals first quarter revenues were increased 10% to $2.39 billion. Bank of America net of interest expense fell 11% to $22.6 billion. Google Inc. fourth quarter revenues increased 26% to $8.44 billion. General Electric fourth quarter revenues increased 1% to $41.38 billion.[/R]

Of 30 the stocks in the Dow, 22 increased and 8 decreased.

Of the 30 stocks in the Dow Jones Industrial Average, General Electric Company led the gainers with a rise of 5.43% followed by increase in Caterpillar Inc. of 1.32%, in Verizon Communications Inc. of 1.18%, in The Boeing Company of 0.93%, in 3M Company of 0.89%.

Bank of America Corporation led the decliners with a fall of 1.66%, followed by decline in Microsoft Corporation of 0.41%, in Kraft Foods Inc. of 0.35%, in Intel Corporation of 0.33%, in Pfizer Inc. of 0.30%.

Other Movers

Air Products and Chemicals, Inc ((APD)) rose 0.7% or 61 cents to $87.87 after the technology, energy, industrial, and healthcare company reported first quarter revenues were increased 10% to $2.39 billion from $2.17 billion a prior year. Net income in the quarter was $296 million or $1.35 per diluted share compared to $252 million or $1.16 per share a year ago.

Advanced Micro Devices, Inc ((AMD)) decreased 2.3% or 19 cents to $7.83 after the chip maker said fourth quarter net revenue for the fourth quarter remained flat with last year at $1.65 billion. Net income in the quarter plunged 68% to $375 million or 50 cents per diluted share compared to $1.18 billion or $1.52 per share for the year-ago quarter.

Revenue for the full year 2010 rose 20% to $6.49 billion from $5.40 billion last year. For the full year 2010, net income was $471 million or $0.64 per share compared to $304 million or $0.45 per share for the full year 2009.

Applied Industrial Technologies, Inc ((AIT)) increased 1.1% or 39 cents to $34.39 after the industrial product distributor reported second quarter net sales increased 18.7% to $529.5 million from $446.2 million in the same quarter last year. Net income in the quarter increased 102% to $21.2 million or 49 cents per diluted share compared to $10.5 million or 24 cents per share in the prior-year quarter.

Bank of America Corporation ((BAC)) rose 0.4% or 6 cents to $14.60 after the financial holding company reported fourth quarter total revenue, net of interest expense, fell 11% to $22.6 billion compared to $25.4 billion in the previous year period. Net loss in the quarter widened 519% to $1.2 billion or 16 cents per diluted share compared to $194 million or 60 cents per share, a year earlier. Loss for the quarter included goodwill impairment charge of $2.0 billion in the Home Loans and Insurance segment.

BB&T Corporation ((BBT)) gained 3.4% or 94 cents to $28.02 after the financial holding company reported fourth quarter total revenues were $2,333 million from $2,325 million a prior year. Net income in the quarter rose 12% to $208 million or 30 cents per diluted share compared to $185 million or 27 cents per share a year ago period.

Capital One Financial Corp. ((COF)) increased 2.5% or $1.19 to $48.44 after the diversified financial services company reported fourth quarter net income rose 85% to $697 million or $1.52 per share from $376 million or $0.83 per share in the year-ago period. Net interest income for the quarter on an as-reported basis rose 55% to $3.02 billion from $1.95 billion a year ago.

Earnings for full year 2010 soared to $2.74 billion or $6.01 per share from $320 million or $0.74 per share for 2009. Net interest income for the full year surged to $12.45 billion from $7.69 billion in fiscal 2009.

Consolidated Edison, Inc ((ED)) decreased 1.1% or 59 cents to $49.94 after the diversified utility company said fourth quarter total operating revenues decreased 4% to $3.14 billion from $3.27 billion in the same quarter last year. Net income in the quarter increased 15.3% to $233 million or 80 cents per diluted share compared to $202 million or 73 cents per share in the prior-year quarter.

Annual operating revenues increased to $13.33 billion from $13.03 billion a year ago. For the full year 2010, net income was $992 million or $3.49 per share, up from $868 million or $3.16 per share in the previous year.

Google Inc. ((GOOG)) increased 1.4% or $9.20 to $635.97 after the Internet search engine said fourth quarter revenues increased 26% to $8.44 billion from $6.67 billion in the same quarter last year. Net income in the quarter rose 29% to $2.54 billion or $7.81 per share compared to $1.97 billion or $6.13 per share in the prior-year quarter.

Annual revenues increased to $29.32 billion from $23.65 billion in the year-ago. For the full year 2010, net income was $8.51 billion or $26.31 per share, up from $6.52 billion or $20.41 per share in the previous year.

General Electric Company ((GE)) surged 5.4% or 99 cents to $19.42 after the multinational conglomerate said fourth quarter revenues increased 1% to $41.38 billion from $41.05 billion in the year-ago quarter. Net earnings in the quarter rose 52% to $4.46 billion or 42 cents per diluted share compared to $2.94 billion or 28 cents in the prior-year quarter.

GATX Corporation ((GMT)) rose 0.6% or 22 cents to $32.42 after the leases, operates and manage industrial equipments reported fourth quarter total revenues edged up to $306.3 million from $302.5 million a year ago. Net income in the quarter was $19.5 million or 42 cents per diluted share compared to $21.5 million or 45 cents per share a year ago.

International Game Technology ((IGT)) rose 0.8% or 16 cents to $18.48 after the slot machines maker said first quarter total revenue fell 10% to $464.8 million from $515.1 million in the same quarter last year. Net income in the quarter edged higher 0.5% to $73.7 million or 25 cents per diluted share compared to $73.3 million or 25 cents per share for the year-ago quarter.

Intuitive Surgical, Inc ((ISRG)) soared 14.60% or $40.45 to $330.28 after the corporation that manufactures robotic surgical systems reported fourth quarter total revenue increased 21% to $389.3 million from $323.0 million last year. Net income in the quarter soared 56.3% to $121.2 million or $3.02 per share compared to $77.5 million or $1.95 per share in the previous year.

Total revenue for the full year rose to $1.41 billion from $1.05 billion last year. For fiscal year 2010, net income was $381.8 million or $9.47 per share, compared to $232.6 million or $5.93 per share last year.

Polycom, Inc. ((PLCM)) surged 17.70% or $6.78 to $44.96 after the unified communications provider reported fourth quarter revenue surged to $340 million from $268 million a year ago. Net income in the quarter increased to $33 million or 37 cents per diluted share compared to $13 million or 15 cents per share a year ago.

Schlumberger Limited ((SLB)) gained 1.8% or $1.56 to $86.84 after the oilfield services provider reported fourth quarter revenue climbed 58% to $9.07 billion from $5.74 billion in the year-ago quarter. Net income in the quarter increased 31% to $1.04 billion or 76 cents per diluted share compared to $795 million or 65 cents per share last year.

SunTrust Banks, Inc. ((STI)) soared 5.6% or $1.58 to $29.45 after the diversified financial services holding company reported fourth quarter total revenue was $2.3 billion from $1.9 billion a prior year. Net income in the quarter was $114 million or 23 cents per diluted share compared to net loss $316 million or 64 cents per share a year ago.

Wipro Limited ((WIT)) declined 4.6% or 68 cents to $14.29 after the Indian software services provider reported third quarter total revenues rose 12% to Rs 78.29 billion from Rs 69.77 billion in the same quarter last year. Net income in the quarter rose 9.6% to Rs 13.19 billion or Rs 5.39 per share from last year's Rs 12.03 billion or Rs 4.91 per share.