U.S. Movers: American Express, Coach, BlackRock, Corning, Harley-Davidson

Mukesh Buch
25 Jan, 2011
New York City

3M fourth quarter sales increased 9.6% to $6.7 billion. Baker Hughes fourth quarter revenue surged 82% to $4.42 billion. Johnson & Johnson fourth quarter net sales decreased 5.5% to $15.6 billion. Verizon fourth quarter revenue fell 2.6% to $26.4 billion.

[R]11:40 AM New York – 3M fourth quarter sales increased 9.6% to $6.7 billion. Baker Hughes fourth quarter revenue surged 82% to $4.42 billion. Johnson & Johnson fourth quarter net sales decreased 5.5% to $15.6 billion. Verizon fourth quarter revenue fell 2.6% to $26.4 billion.[/R]

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

Of the 30 stocks in the Dow Jones Industrial Average, The Travelers Companies, Inc led the gainers with a rise of 2.43% followed by increase in Verizon Communications Inc. of 2.37%, in Cisco Systems, Inc. of 1.65%, in Wal-Mart Stores, Inc. of 1.10%, in General Electric Company of 0.93%.

3M Company led the decliners with a fall of 3.07%, followed by decline in American Express Company of 2.73%, in Bank of America Corporation of 1.96%, in Johnson & Johnson of 1.70%, in Alcoa Inc. of 1.64%.

Other Movers

3M Company ((MMM)) declined 2.9% or $2.61 to $87.71 after the diversified technology company reported fourth quarter sales increased 9.6% to $6.7 billion from $6.1 billion a prior year. Net income in the quarter was $928 million or $1.28 per diluted share compared to $935 million or $1.30 per share a year ago period.

American Express Company ((AXP)) decreased 2.4% or $1.14 to $44.64 after the diversified global financial services company reported fourth quarter net revenues rose 13% to $7.32 billion from $6.49 billion last year. Net income in the quarter increased 48% to $1.05 billion or 88 cents per diluted share compared to net income of $0.71 billion or 60 cents per share a year ago, helped by higher revenues across segments as well as lower loan loss provisions.

For the full year 2010, net revenues rose 13% to $27.82 billion from $24.52 billion a year ago. Net income during the period was $4.06 billion or $3.35 per share compared to $2.13 billion or $1.54 per share last year.

Ashland Inc. ((ASH)) soared 5.6% or $2.98 to $56.24 after the chemicals and plastics, and a manufacturer said first quarter sales increased 8% to $1.4 billion from $1.3 billion a prior year. Net income in the quarter was $87 million or $1.09 per diluted share compared to $86 million or $1.10 per share a year ago.

Amgen, Inc. ((AMGN)) rose 0.2% or 14 cents to $57.43 after the independent biotechnology medicines company said fourth quarter total revenue increased 1% to $3.84 billion from $3.81 billion in the same quarter of 2009. Net income in the quarter rose 10% to $1.02 billion or $1.08 per diluted share compared to net income of 931 million or 92 cents per share in the prior-year quarter, helped mainly by a favorable tax settlement.

For the full-year 2010, total revenue increased 3% to $15.05 billion from $14.64 billion in the year-ago. Annual net income increased 4% to $4.63 billion or $4.79 per share from $4.61 billion or $4.51 per share in the previous year.

Baker Hughes Incorporated ((BHI)) surged 4.3% or $2.60 to $61.11 after the oil field services company reported fourth quarter revenue surged 82% to $4.42 billion from $2.43 billion last year. Net income in the quarter soared 299% to $335 million or 77 cents per diluted share compared to net income of $84 million or 27 cents per share last year.

For the fiscal year 2010, revenues climbed 49% to $14.41 billion from $9.66 billion a year ago. Annual net income was $812 million or $2.06 per share compared to $421 million or $1.36 per share for the year 2009.

BlackRock, Inc. ((BLK)) increased 2.2% or $4.31 to $197.89 after the investment management firm reported fourth quarter total revenue rose 62% to $2.49 billion from $1.54 billion in the previous year. Net profit in the quarter surged 157% to $657 million or $3.35 per diluted share compared to net profit of $256 million or $1.62 per share a year ago.

Coach, Inc. ((COH)) decreased 1.4% or 75 cents to $52.62 after the gift retailer said second quarter sales increased 19% to $1.26 billion from $1.07 billion a prior year. Net income in the quarter increased 26% to $303 million or $1.00 per diluted share compared to $241 million or $0.75 per share a year ago.

CSX Corporation ((CSX)) increased 1.5% or $1.02 to $68.73 after the transportation company reported fourth quarter revenue grew 21% to $2.8 billion from the prior-year quarter. Net income in the quarter rose 48% to $430 million or $1.14 per diluted share compared to net income of $303 million or 77 cents per share in the year-ago quarter.

Full-year earnings were $1.56 billion or $4.06 a share, compared with $1.14 billion or $2.89 a share for 2009.

E. I. du Pont de Nemours and Company ((DD)) rose 0.3% or 16 cents to $49.05 after the chemicals maker stated fourth quarter sales rose 15% to $7.4 billion versus $6.42 billion in the prior year. Net income in the quarter declined 15% to $376 million or 40 cents per diluted share compared to net income of $441 million or 48 cents per share in the previous year.

Corning Inc ((GLW)) gained 5.6% or $1.11 to $20.75 after the technology-based corporation reported fourth quarter sales increased 15% to $1.77 billion from $1.53 billion a prior year. Net income in the quarter increased 31% to $1,044 million or 66 cents per diluted share compared to $740 million or 47 cents per share a year ago period.

Harley-Davidson, Inc. ((HOG)) surged 6.9% or $2.52 to $39.01 after the automobile and financing company said fourth quarter revenue was $917 million from $764 million a prior year. Net loss in the quarter was $46.77 million or 18 cents per diluted share compared to $218.70 million or 63 cents per share a year ago.

Johnson & Johnson ((JNJ)) slumped 2% or $1.26 to $60.96 after the consumer, pharmaceutical, and medical products maker reported fourth quarter net sales decreased 5.5% to $15.6 billion from $16.6 billion a prior year. Net earnings in the quarter decreased 12% to $1,942 million or 70 cents per diluted share compared to $2,206 million or 79 cents per share a year ago.

Kimberly-Clark Corporation ((KMB)) gained 3% or $1.97 to $65.94 after the health and hygiene company reported fourth quarter sales increased 2% to $5.1 billion from $5.0 billion a prior year. Net income in the quarter was $492 million or $1.20 per diluted share compared to $492 million or $1.17 per share a year ago period.

KeyCorp ((KEY) slipped 2.6% or 33 cents to $12.16 after the bank and financial holding company said fourth quarter revenue increased 5% to $1.16 billion from $1.10 billion a prior year. Net income in the quarter was $279 million or 32 cents per diluted share compared to net loss $265 million or 30 cents per share a year ago.

McDonald''s Corporation ((MCD)) fell 0.4% of 31 cents to $75.07 after the fast food giant reported fourth quarter total revenues rose 4% to $6.21 billion from $5.97 billion in the prior-year quarter on comparable sales increase of 5.0% for the quarter. Net income in the quarter climbed 2% to $1.24 billion or $1.16 per share compared to net income of $1.22 billion or $1.11 per share last year.

Annual revenues grew 6% to $24.07 billion. For fiscal year 2010, the company''s net income grew 9% to $4.95 billion or $4.58 per diluted share.

Peabody Energy Corporation ((BTU)) increased 1% or 63 cents to $59.92 after the coal company reported fourth quarter revenue soared to $1,818.3 million from $1,554.2 million a year ago. Net income in the quarter surged to $215 million or 78 cents per diluted share compared with $95 million or 34 cents per share last year.

Quest Diagnostics Inc ((DGX)) gained 3.3% or $1.82 to $55.99 after the diagnostic testing service provider said fourth quarter revenues fell 1.3% to $1,824.0 million from $1,848.2 million in the prior-year quarter. Net income in the quarter decreased to $174.2 million or 0.96 cents per diluted share compared to $190.6 million or 0.97 cents per share last year.

SL Green Realty Corp. ((SLG)) decreased 1.8% or $1.30 to $70.20 after the self-managed real estate investment trust said fourth quarter revenues increased 10% to $267.25 million from $243.04 million in the same period last year. Net income generated in the quarter was $7.21 million or 9 cents per diluted share compared to net loss of $5.12 million or 7 cents per share in the year-ago quarter.

The Travelers Companies, Inc ((TRV)) increased 1.8% or $1.00 to $56.62 after the holding company reported fourth quarter total revenue fell 2% to $6.33 billion from the prior year. Net income in the quarter declined 30% to $894 million or $1.95 per diluted share compared to $1,285 million or $2.36 per share in the previous year.

The Sherwin-Williams Company ((SHW)) gained 1.9% or $1.61 to $84.91 after the paint and related product maker reported fourth quarter revenues grew 18.6% to $1.90 billion from $1.60 billion a year ago. Net sales from stores open more than twelve calendar months increased 8.6% in the quarter. Net income in the quarter surged to $73.0 million or 67 cents per diluted share compared with $65.3 million or 58 cents per share last year.

Texas Instruments Incorporated ((TXN)) slipped 1.5% or 52 cents to $34.13 after the maker of mobile phone chips said fourth quarter revenue rose 17% to $3.53 billion from $3.01 billion in the same quarter last year. Net income in the quarter rose 44% to $942 million or 78 cents per diluted share compared to net income of $655 million or 52 cents per share for the year-ago quarter.

Revenue for the full year 2010 increased 34% to $13.97 billion from $10.43 billion the prior year. For the full year 2010, the company reported net income of $3.2 billion or $2.62 per share compared to $1.5 billion or $1.15 per share for the full year 2010.

Verizon Communications Inc. ((VZ)) gained 1.8% or 66 cents to $35.88 after the communication service provider reported fourth quarter revenue fell 2.6% to $26.4 billion from $27.1 billion in the prior-year quarter. Net income in the quarter rose 96% to $4.65 billion or 93 cents per diluted share compared to $2.37 million or 22 cents per share in the year-ago quarter.

VMware, Inc. ((VMW)) tumbled 4.5% or $3.85 to $83.88 after the software solutions provider reported fourth quarter revenues grew 37% to $835.6 million from $608.2 million a year ago. Net income in the quarter surged 114% to $120 million or 28 cents per diluted share compared with net income of $56 million or 14 cents per share last year.

Revenue for the full year 2010 surged 41% to $2.85 billion from $2.02 billion. For the full year 2010, the company said its net income rose to $357 million or $0.84 per share from $197 million or $0.49 per share the prior year.

W.W. Grainger, Inc. ((GWW)) declined 3.9% or $5.53 to $133.59 after the diversified wholesaler reported fourth quarter revenue rose 12% to $1.83 billion from $1.63 billion in the same quarter last year. Net earnings in the quarter surged 36% to $132 million or $1.83 per diluted share compared to $97 million or $1.27 per share for the year-ago quarter.

Waters Corporation ((WAT)) fell 0.3% or 27 cents to $77.99 after the analytical instrument manufacturer said fourth quarter sales increased 13% to $484 million from $429 million in the same period last year. Net income generated in the quarter was $126.6 million or $1.36 per diluted share compared to $104.1 million or $1.08 per share in the year-ago quarter.

United States Steel Corporation ((X)) fell 0.8% or 47 cents to $53.97 after the steel producer reported fourth quarter sales fell 4% to $4.3 billion from $3.3 billion in the same quarter last year. Net loss in the quarter was $249 million or $1.74 per diluted share compared to $267 million or $1.86 per share for the year-ago quarter.