U.S. Movers: Bunge, Cisco, MetLife, PepsiCo, Thomson Reuters

Mukesh Buch
10 Feb, 2011
New York City

Bunge fourth quarter net income rose to $292 million. Cisco second quarter net income declined 17.9% to $1.5 billion. MetLife fourth quarter net income plunged 82% to $51 million. PepsiCo quarterly net income fell 5% to $1.36 billion. Thomson Reuters fourth quarter net income fell 11% to $307 mn.

[R]11:40 PM New York – Bunge fourth quarter net income increased to $292 million. Cisco second quarter net income declined 17.9% to $1.5 billion. MetLife fourth quarter net income plunged 82% to $51 million. PepsiCo quarterly net income slumped 5% to $1.36 billion. Thomson Reuters fourth quarter net income decreased 11% to $307 million.[/R]

Of 30 the stocks in the Dow, 9 increased and 21 decreased.

Of the 30 stocks in the Dow Jones Industrial Average, United Technologies Corporation led the gainers with a rise of 1.17% followed by increase in Intel Corporation of 1.07%, in Hewlett-Packard Company of 0.74%, in E. I. du Pont de Nemours and Company of 0.63%, in Caterpillar Inc. of 0.36%.

Cisco Systems, Inc. led the decliners with a fall of 12.66%, followed by decline in Wal-Mart Stores, Inc. of 2.01%, in Microsoft Corporation of 1.93%, in Kraft Foods Inc. of 0.99%, in General Electric Company of 0.87%.

Other Movers

NYSE Euronext ((NYX)) decreased 1.5% or 60 cents to $37.50 after the exchange operator and Deutsche Börse AG confirmed merger discussions.

If the merger consummated, the all-stock transaction will lead to new entity incorporated in the Netherlands. The combined group would have dual headquarters in New York and Frankfurt. Deutsche Börse shareholders would hold approximately 59% to 60%, and NYSE Euronext shareholders would hold approximately 40% to 41%, of the combined company’s equity.

The new company would have an executive committee drawn equally from the current leadership of both companies and expect to be able to realize approximately €300 million in cost synergies.

Advance Auto Parts, Inc. ((AAP)) declined 1.5% or $1.06 to $64.94 after the automotive parts retailer reported fourth quarter revenue increased 11.1% to $1.27 billion from $1.14 billion a prior year. Comparable and identical store sales increased 8.9%. Net income in the quarter soared to $52.5 million or 27 cents per diluted share compared to $40.8 million or 21 cents per share a year ago.

Akamai Technologies, Inc. ((AKAM)) tumbled 16% or $7.68 to $40.31 after the Internet content provider said fourth quarter fourth quarter revenue increased 19% to $284.7 million from $238.3 million a prior year. Net income in the quarter increased to $48.11 million or 57 cents per diluted share compared to $34.47 million or 36 cents per share a year ago.

Bunge Limited ((BG)) slumped 1.1% or $1.80 to $68.98 after the agri and food company reported fourth quarter revenue net sales increased to $12.73 billion from $10.44 billion a prior year. Net income in the quarter increased to $292 million or $1.95 per diluted share compared to net loss $28 million or $0.21 per share a year ago.

BorgWarner Inc. ((BWA)) rose 0.4% or 32 cents to $72.35 after the automotive systems and components provider said fourth quarter net sales increased 28% to $15.33 billion from $11.98 billion a prior year. Net earnings in the quarter increased to $111.7 million or 89 cents per diluted share compared to $52.7 million or 45 cents per share a year ago.

Cisco Systems, Inc. ((CSCO)) tumbled 12.7% or $2.83 to $19.21 after the Internet protocol based networking provider reported second quarter net sales rose 6% to $10.4 billion from $9.8 billion a prior year. Net income for the quarter declined 17.9% to $1.5 billion or 27 cents per diluted share compared to $1.9 billion or 32 cents per diluted share a year ago.

Laboratory Corporation of America Holdings ((LH)) plunged 3.2% or $2.98 to $87.76 after the clinical laboratory company said fourth quarter sales increased 11.2% to $12.95 billion from $11.65 billion a prior year. Net earnings in the quarter decreased to $131.8 million or $1.26 per diluted share compared to $142.7 million or $1.33 per share a year ago.

MetLife, Inc. ((MET)) slipped 1.4% or 67 cents to $46.93 after the insurance and financial service provider reported fourth quarter revenue increased to $12.84 billion from $12.34 billion a prior year. Net income in the quarter declined 82% to $51 million or 5 cents per diluted share compared to $289 million or 35 cents per share a year ago.

Revenue for the full year 2010 increased to $52.72 billion from $41.06 billion a year ago. For the full year, the company''s net income was $2.67 billion or $3.00 per diluted share from $2.37 billion or $2.89 per share in the prior year.

PepsiCo, Inc. ((PEP)) declined 2.2% or $1.44 to $62.98 after the food, snack and beverage company said fourth quarter revenue surged 37% to $18.15 billion from $13.30 billion a prior year. Net income in the quarter declined 5% to $1.36 billion or 85 cents per diluted share compared to $1.43 billion or 90 cents per share a year ago.

Revenue for the full year 2010 soared 34% to $57.84 billion from $43.23 billion a year ago. For the full year, the company''s net income increased 6% $6.32 billion or $3.91 per diluted share from $5.95 billion or $3.77 per share in the prior year.

Thomson Reuters Corporation ((TRI)) plunged 3.5% or $1.45 to $39.97 after the businesses information provider reported fourth quarter revenue rose 3% to $3.46 billion from $3.36 billion a prior year. Net income in the quarter declined 11% to $307 million or 27 cents per diluted share compared to $346 million or 21 cents per share a year ago.

Revenue for the full year 2010 fell 1% to $13.1 billion from $13.0 billion a year ago. For the full year, the company''s net income decreased 10% to $1.42 billion or $1.08 per diluted share from $1.58 billion or $1.01 per share in the prior year.

The Allstate Corporation ((ALL) slumped 4.2% or $1.36 to $31.00 after the holding company said fourth quarter revenue edged up 0.4% to $8.09 billion from $8.06 billion a prior year. Net income in the quarter declined 42.9% to $296 million or 55 cents per diluted share compared to $518 million or 96 cents per share a year ago.

Revenue for the full year 2010 fell 1.9% to $31.4 billion from $32.0 billion a year ago. For the full year, the company''s net income increased 8.7% to $928 million or $1.71 per diluted share from $854 million or $1.58 per share in the prior year.

Whole Foods Market, Inc. ((WFMI)) surged 13.3% or $7.15 to $60.90 after the natural and organic food supermarket operator reported first quarter revenue increased 14% to $3.0 billion from $2.6 billion a prior year. Comparable and identical store sales increased 9.1%. Net income in the quarter increased to $88.7 million or 51 cents per diluted share compared to $49.7 million or 32 cents per share a year ago.