U.S. Movers: Citigroup, Eli Lilly, KeyCorp, M&T, TD Ameritrade, Grainger

Mukesh Buch
18 Apr, 2011
New York City

Citigroup first quarter net income fell 32% to $3 billion. Eli Lilly first quarter net income declined 15% to $1.06 billion. KeyCorp first quarter net income grew to $173 million. TD Ameritrade second quarter net income rose 5.6% to $171.7 million. W.W.Grainger first quarter net earnings soared 59%.

[R]10:30 AM New York – Citigroup first quarter net income fell 32% to $3 billion. Eli Lilly first quarter net income declined 15% to $1.06 billion. KeyCorp first quarter net income grew to $173 million. TD Ameritrade second quarter net income rose 5.6% to $171.7 million. W.W. Grainger first quarter net earnings soared 59% to $158 million.[/R]

Of 30 the stocks in the Dow, 2 increased and 28 decreased.

Of the stocks in the Dow Jones Industrial Average, Johnson & Johnson led the gainers with a rise of 0.73% followed by increase in Wal-Mart Stores, Inc. of 0.13%.

Caterpillar Inc. led the decliners with a fall of 3.85%, followed by decline in Bank of America Corporation of 3.22%, in Alcoa Inc. of 2.39%, in E. I. du Pont de Nemours and Company of 2.39%, in Cisco Systems, Inc. of 2.17%.

Other Movers

Bank of Hawaii Corporation ((BOH)) increased 1.5% or 76 cents to $48.43 after the bank holding company reported first quarter net interest income decreased to $99.7 million from $107.6 million in the same period last year. Net income in the quarter fell to $42.4 million or $0.88 per diluted share compared to $52.7 million or $1.09 per share in the year-ago quarter.

Citigroup Inc. ((C)) fell 0.2% or 1 cents to $4.41 after the diversified financial services holding company reported first quarter total revenues decreased 22% to $19.73 billion compared with $25.42 billion in the prior-year quarter. Net income in the quarter fell 32% to $3 billion or 10 cents a share compared with net income of $4.43 billion or 15 cents per share in the same period last year.

Chemical Financial Corporation ((CHFC)) fell 0.3% or 7 cents to $19.93 after the financial holding company said first quarter net interest income rose to $53.6 million from $46.1 million last year. Net income in the quarter soared to $9.2 million or 33 cents per diluted share compared to $2.3 million or 10 cents per share a year earlier.

DHT Holdings, Inc. ((DHT)) plunged 3% or 14 cents to $4.40 after the fleet operator said first quarter net interest income fell to $22.3 million from $22.4 million last year. Net income in the quarter was $4.0 million or 7 cents per diluted share compared to net loss of $2.2 million or 5 cents per share a year earlier.

Eli Lilly and Company ((LLY)) slumped 1.5% or 56 cents to $35.345 after the pharmaceutical company reported first quarter revenue increased 6% to $5.84 billion compared to $5.49 billion in the same period last year. Net income in the quarter declined 15.2% to $1.06 billion or $0.95 per diluted share compared to $1.25 billion or $1.13 per share a year ago.

Halliburton Company ((HAL)) fell 0.7% or 37 cents to $46.45 after the oilfield services provider reported first quarter total revenue surged 40.4% to $5.28 billion from $3.76 billion in the same quarter last year. Net income in the quarter soared 148% to $511 million or 56 cents per diluted share compared to net income of $206 million or 23 cents per share in the prior-year quarter.

KeyCorp ((KEY)) declined 4.2% or 38 cents to $8.44 after the bank holding company said first quarter net interest income declined to $760 million from $892 million last year. Net income in the quarter grew to $173 million or 19 cents per diluted share compared to net loss of $96 million or 11 cents per share a year earlier.

McMoRan Exploration Co. ((MMR)) decreased 3.4% or 61 cents to $17.04 after the oil and natural gas exploration company reported first quarter total revenues rose to $137.0 million from $132.5 million in the same period last year. Net loss in the quarter narrowed to $27.5 million or 17 cents per diluted share compared to $66.1 million or 74 cents per share in the year-ago quarter.

M&T Bank Corporation ((MTB)) increased 1.7% or $1.49 to $86.84 after the bank holding company said first quarter net interest income rose 2% to $568.8 million from $556.3 million last year. Net income in the quarter soared 37% to $206.3 million or $1.59 per diluted share compared to $151.0 million or $1.15 per share a year earlier.

Park National Corporation ((PRK)) rose 0.5% or 33 cents to $65.94 after the bank holding company reported first quarter net income rose 3.1% to $19.9 million from $19.3 million for the year-ago quarter. On a per-share basis, earnings for the quarter were $1.29 compared with $1.30 last year, on a higher share count in the reporting period.

Net interest income rose 2.9% to $69.3 million from $67.4 million.

TD Ameritrade Holding Corporation ((AMTD)) slipped 2.2% or 49 cents to $21.62 after the securities brokerage service provider reported second quarter net revenue surged 13% to $718.2 million compared to $635.4 million in the same period last year. Net income in the quarter increased 5.6% to $171.7 million or 30 cents per diluted share compared to $162.5 million or 27 cents per share a year ago.

Sensient Technologies Corporation ((SXT)) decreased 2.7% or $1.01 to $35.81 after the colors, flavors and fragrance maker reported first quarter revenue increased 11.3% to $349.7 million compared to $314.1 million in the same period last year. Net earnings in the quarter increased 12.6% to $26.4 million or 53 cents per diluted share compared to $23.4 billion or 48 cents per share a year ago.

Titan Machinery Inc. ((TITN)) surged 13.8% or $3.74 to $30.68 after the agricultural and construction equipments seller reported fourth quarter revenue soared 45.9% to $368.1 million compared to $252.3 million in the same period last year. Net income in the quarter surged to $10.4 million or 57 cents per diluted share compared to $3.4 million or 19 cents per share a year ago.

W.W. Grainger, Inc. ((GWW)) gained 2.2% or $3.20 to $146.06 after the distributor of maintenance, repair and operating supplies reported first quarter sales increased 13% to $1.9 billion from $1.7 billion in the same period last year. Net earnings in the quarter soared 59% to $158 million or $2.18 per diluted share compared to $99 million or $1.31 per share in the year-ago quarter.