U.S. Movers: Altera, Juniper, Legg Mason, Yahoo

Mukesh Buch
26 Jan, 2011
New York City

Abbott fourth quarter net sales increased 13.4% to $9.97 billion. General Dynamics fourth quarter revenue rose 8.9% to $8.6 billion. The Boeing fourth quarter revenue rose 8% to $16.55 billion. Valero fourth quarter revenue rose to $22.16 billion. Yahoo fourth quarter revenue fell 12% to $1.53 bn.

[R]10:30 AM New York – Abbott fourth quarter net sales increased 13.4% to $9.97 billion. General Dynamics fourth quarter revenue increased 8.9% to $8.6 billion. The Boeing fourth quarter revenues rose 8% to $16.55 billion. Valero fourth quarter revenues soared to $22.16 billion. Yahoo fourth quarter revenue fell 12% to $1.53 billion.[/R]

Of 30 the stocks in the Dow, 20 increased and 10 decreased.

Of the 30 stocks in the Dow Jones Industrial Average, E. I. du Pont de Nemours and Company led the gainers with a rise of 2.68% followed by increase in Alcoa Inc. of 2.09%, in The Home Depot, Inc. of 2.07%, in Microsoft Corporation of 1.72%, in Intel Corporation of 1.39%.

The Boeing Company led the decliners with a fall of 2.59%, followed by decline in Johnson & Johnson of 0.44%, in Kraft Foods Inc. of 0.32%, in United Technologies Corporation of 0.28%, in Chevron Corporation of 0.24%.

Other Movers

Abbott Laboratories ((ABT)) declined 1.8% or 87 cents to $47.10 after the healthcare company reported fourth quarter net sales increased 13.4% to $9.97 billion from $8.79 billion a prior year. Net earnings in the quarter decreased 6.4% to $1,441 million or 92 cents per diluted share compared to $1,539 million or 98 cents per share a year ago.

Automatic Data Processing, Inc. ((ADP)) decreased 1.1% or 58 cents to $49.11 after the outsourcing company reported second quarter revenue increased 9% to $2.41 billion from $2.20 billion a prior year. Net earnings in the quarter were $310.1 million or 62 cents per diluted share compared to $315.8 million or 62 cents per share a year ago.

Altera Corporation ((ALTR)) plunged 3.4% or $1.29 to $36.62 after the semiconductor company reported fourth quarter net sales increased 52% to $555.38 million from $365.00 million a year ago. Net income in the quarter surged 125% to $231.61 million or 72 cents per diluted share compared to net income of $102.97 million or 34 cents per share in the previous year.

Net sales for the year rose to $1.39 billion from $0.80 billion last year. For the full year 2010, net income increased to $782.88 million or $2.49 per share from $251.06 million or $0.84 per share in the previous year.

Boston Properties, Inc. ((BXP)) increased 1.4% or $1.31 to $92.57 after the real estate investment trust reported fourth quarter total revenue increased 4.3% to $392.48 million from $376.13 million last year. Net loss in the quarter was $12.90 million or 9 cents per diluted share compared to an income of $53.32 million or 38 cents per share in the previous year.

Canadian Pacific Railway Limited ((CP)) increased 1.1% or 79 cents to $67.22 after the Canadian railway company reported fourth quarter revenue increased 13% to $1.3 billion from $1.1 billion a prior year. Net income in the quarter increased 27% to $185.8 million or $1.09 per diluted share compared to $146.2 million or $0.87 per share a year ago.

ConocoPhillips ((COP)) gained 2.4% or $1.64 to $69.15 after the energy company said fourth quarter revenue was $53.2 billion from $43.7 billion a prior year. Net earnings in the quarter increased 54% to $2.0 billion or $1.39 per diluted share compared to $1.3 billion or $0.86 per share a year ago.

Cooper Industries plc ((CBE)) declined 1.4% or 85 cents to $60.02 after the electrical product maker said fourth quarter revenues were $1,259.9 million from $1,256.6 million a prior year. Net income in the quarter was $141.9 million or 85 cents per diluted share compared to $128.8 million or 76 cents per share a year ago.

CA, Inc. ((CA)), the independent enterprise information technology (IT) software and service company reported third quarter revenues grew 4% to $1.16 billion from $1.12 billion in the year-ago quarter, largely on higher sales of service assurance, virtualization management and service automation products, and service and education offerings. Net income in the quarter declined 22% to $200 million or 39 cents per diluted share compared to net income of $257 million or 49 cents per share last year.

Exelon Corporation ((EXC)) increased 0.1% or 10 cents to $43.30 after the electric supply company reported fourth quarter operating revenue rose to $4.49 billion from $4.12 billion a prior year. Net income in the quarter was $524 million or 79 cents per diluted share compared to $581 million or 88 cents per share a year ago.

General Dynamics Corporation ((GD)) decreased 0.9% or 68 cents to $73.49 after the defense related product maker said fourth quarter revenue increased 8.9% to $8.6 billion from $7.9 billion a prior year. Net earnings in the quarter increased 18.7% to $729 million or $1.91 per diluted share compared to $614 million or $1.57 per share a year ago.

Gilead Sciences, Inc. ((GILD)) gained 2.3% or 89 cents to $39.05 after the biopharmaceutical company reported fourth quarter total revenues declined 1.5% to $2.00 billion from $2.03 billion a year ago. Net income in the quarter declined 21.5% to $629.42 million or 76 cents per diluted share compared to net income of $802.21 million or 87 cents per share in the previous year.

For the full year 2010, total revenues rose to $7.95 billion from $7.01 billion a year ago. Net income for the year increased to $2.90 billion or $3.32 per share from $2.63 billion or $2.82 per share last year.

Juniper Networks, Inc. ((JNPR)) surged 6% or $2.12 to $36.94 after the computer networking gear maker said fourth quarter total revenue rose 26% to $1.19 billion from $0.94 billion in the same quarter last year. Net income in the quarter soared 731% to $190.2 million or 35 cents per diluted share compared to net income of $22.9 million or 4 cents per share for the year-ago quarter.

Total revenue for the full year 2010 rose 23% to $4.09 billion from $3.32 billion the prior year. For the full year 2010, the company reported net income of $618.4 million or $1.15 per share, compared to $115.2 million or $0.22 per share for the full year 2009.

Legg Mason, Inc. ((LM)) declined 3.9% or $1.40 to $34.21 after the investment company said third quarter total revenue increased 5% to $721.9 million from $690.5 million in the same quarter last year. Net income in the quarter soared to $61.6 million or 41 cents per diluted share compared to $44.9 million or 50 cents per share for the year-ago quarter.

Norfolk Southern Corp. ((NSC)) fell 0.1% or 9 cents to $62.83 after the railroad network operator reported fourth quarter revenues rose 14% to $2.39 billion from $2.10 billion in the year-ago period. Net income in the quarter increased 31% to $402 million or $1.09 per diluted share compared to net income of $307 million or 82 cents per share last year.

Railway operating revenues for the full year increased 19% to $9.51 billion from $7.97 billion for the previous fiscal year. For the full year, net income increased 45% to $1.5 billion from $1.0 billion for fiscal 2009. On a per-share basis, earnings for the full year rose to $4.00 per share from $2.76 per share in 2009.

Occidental Petroleum Corporation ((OXY)) slipped 2.4% or $2.36 to $94.79 after the oil, gas exploration and chemical company reported fourth quarter net sales soared to $5.1 billion from $4.4 billion in the same quarter last year. Net income in the quarter increased to $1.2 billion or $1.49 per diluted share compared to $0.94 billion or $1.15 per share in the prior-year quarter.

Praxair, Inc. ((PX)) fell 0.02% or 2 cents to $91.22 after the industrial gas producer reported fourth quarter sales grew 9% to $2.62 billion from $2.41 billion in the same quarter last year. Net income in the quarter plunged 61% to $133 million or 43 cents per diluted share compared to net income of $340 million or $1.09 per share in the prior-year quarter.

Sales for the full year increased 13% to $10.12 billion from $8.96 billion posted in the previous year. For fiscal 2010, the company posted net income of $1.20 billion or $3.84 per share, lower than $1.25 billion or $4.01 per share in the prior year.

Piper Jaffray Companies ((PJC)) surged 11.7% or $4.24 to $40.30 after the international investment bank reported fourth quarter revenues rose 32.6% to $184.56 billion from $139.18 billion in the year-ago period. Net income in the quarter decreased 28.1% to $7.2 million or 49 cents per diluted share compared to $10.0 million or 63 cents per share last year.

Rockwell Automation, Inc. ((ROK)) soared 9% or $6.73 to $81.42 after the automation of power, control and information solution provider said first quarter revenues increased 28% to $1.36 billion from $1.07 billion in the comparable period a year ago. Net income in the quarter surged to $150.1 million or $1.04 per share compared to net income of $76.6 billion or $0.53 per share last year.

Stryker Corporation ((SYK)) slumped 1.7% or 99 cents to $57.38 after the orthopedic device maker said fourth quarter net sales rose 8.8% to $2.00 billion from $1.83 billion in the same quarter last year. Net income in the quarter declined 3.6% to $295.0 million or 74 cents per diluted share compared to net income of $306.0 million or 76 cents per share for the year-ago quarter.

Net sales for the full year 2010 rose 8.9% to $7.32 billion from $6.72 billion the prior year. For the full year 2010, the company reported net income of $1.27 billion or $3.19 per share, compared to $1.11 billion or $2.77 per share for the full year 2009.

St. Jude Medical, Inc. ((STJ) plunged 2.2% or 97 cents to $41.65 after the medical device developer stated fourth quarter revenue increased 12% to $1.35 billion from $1.20 billion in the same quarter last year. Net earnings in the quarter surged to $206.4 million or 62 cents per diluted share compared to $189.6 million or 57 cents per share in the prior-year quarter.

The Boeing Company ((BA)) declined 3.6% or $2.65 to $69.60 after the jetliners, military aircraft, satellites, missile defense maker reported fourth quarter revenues rose 8% to $16.55 billion from $17.94 billion in the year-ago period. Net income in the quarter increased 8% to $1.16 billion or $1.56 per diluted share compared to $1.27 billion or $1.75 per share last year.

Valero Energy Corporation ((VLO)) gained 2.7% or 65 cents to $24.97 after the refinery said fourth quarter revenues soared to $22.16 billion from $17.88 billion in the year-ago period. Net loss in the quarter was $438 million or $0.77 per diluted share compared to $1,408 million or $2.51 per share last year.

WellPoint, Inc. ((WLP)) increased 1.4% or 88 cents to $62.58 after the health benefits company stated fourth quarter total revenues slipped 23.1% to $14.65 billion from $19.05 billion in the comparable period a year ago. Net income in the quarter plunged 80% to $548.8 million or $1.40 per share compared to net income of $2.74 billion or $5.95 per share last year.

Full-year 2010 total revenues slipped 9.6% to $58.82 billion. Net income in the period fell to $2.89 billion or $6.94 per share from last year''s $4.75 billion or $9.88 per share.

Yahoo! Inc. ((YHOO)) slipped 2.6% or 44 cents to $15.58 after online media company said fourth quarter revenue fell 12% to $1.53 billion from $1.73 billion in the same quarter last year, due to the required change in revenue presentation and the revenue share with Microsoft associated with the search agreement. Net income in the quarter surged 104% to $312 million or 24 cents per diluted share compared to net income of $153 million or 11 cents per share in the prior-year quarter.

Annual revenue declined 2.2% to $6.32 billion from $6.46 billion a year ago. For the full year 2010, net income grew 106% to $1.23 billion or $0.90 per share from $598.00 million or $0.42 per share in the previous year.

US Airways, Inc ((LCC)) soared 10.6% or $1.08 to $11.21 after the airline company reported fourth quarter revenue increased 10.7% to $2.91 billion from $2.63 billion in the same quarter last year. Net income in the quarter was $28 million or 17 cents per diluted share compared to net loss of $79 million or 49 cents per share in the prior-year quarter.

United Technologies Corporation ((UTX)) decreased 1% or 87 cents to $80.86 after the high technology product and service provider said fourth quarter revenues soared 6% to $14.9 billion from $14.0 billion in the year-ago period. Net income in the quarter increased 12% to $1.2 billion or $1.31 per diluted share compared to $1.1 million or $1.15 per share last year.