U.S. Movers: AT&T, Abbott, Intel, Polaris, Stryker, Wells Fargo, Yahoo

Mukesh Buch
20 Apr, 2011
New York City

AT&T first quarter net income soared 39% to $3.4 billion. Abbott first quarter net earnings declined 13% to $864 million. Intel first quarter net income soared 29% to $3.16 billion. IBM first quarter net income rose 11% to $2.9 billion. Wells Fargo second quarter net income surged 48% to $3.8 bn.

[R]11:10 AM New York – AT&T first quarter net income soared 39% to $3.4 billion. Abbott first quarter net earnings declined 13% to $864 million. Intel first quarter net income soared 29% to $3.16 billion. International Business Machines first quarter net income rose 11% to $2.9 billion. Wells Fargo second quarter net income surged 48% to $3.8 billion.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Intel Corporation led the gainers with a rise of 6.04% followed by increase in United Technologies Corporation of 4.27%, in Microsoft Corporation of 2.54%, in Johnson & Johnson of 2.39%, in Hewlett-Packard Company of 2.35%.

International Business Machines Corporation led the decliners with a fall of 1.13%, followed by decline in AT&T Inc. of 0.63%.

Other Movers

AT&T Inc. ((T)) declined 1% or 33 cents to $29.98 after the telecommunications service provider reported first quarter total revenues rose 2.3% to $31.2 billion from $30.5 billion in the same period last year. Net income in the quarter soared 38.9% to $3.4 billion or 57 cents per diluted share compared to $2.4 billion or 41 cents per share in the year-ago quarter.

Abbott Laboratories ((ABT)) decreased 1.1% or 60 cents to $50.49 after the healthcare products maker reported first quarter net sales soared 17.4% to $9 billion compared to $7.7 billion in the same period last year. Net earnings in the quarter declined 13.3% to $864 million or 55 cents per diluted share compared to $1,003 million or 64 cents per share a year ago.

Altria Group, Inc. ((MO)) slumped 1.1% or 29 cents to $26.09 after the largest tobacco corporations said first quarter net revenues decreased 2.1% to $5.64 billion from $5.76 billion last year. Net earnings in the quarter rose 15.3% to $937 million or 45 cents per diluted share compared to net earnings of $813 million or 39 cents per share a year ago.

Amphenol Corporation ((APH)) surged 7.7% or $4.01 to $55.52 after the high-speed specialty cable maker said first quarter net sales surged to $940.6 million compared to $771.0 billion in the same period last year. Net income in the quarter increased to $128.0 million or 72 cents per diluted share compared to $98.3 million or 56 cents per share a year ago.

Autoliv, Inc. ((ALV)) soared 7.8% or $5.72 to $78.34 after the Sweden based holding company reported first quarter net sales soared 23% to $2.11 billion compared to $1.72 billion in the same period last year. Net income in the quarter increased to $182.5 million or $1.93 per diluted share compared to $128.2 million or $1.39 per share a year ago.

Cree, Inc. ((CREE)) plunged 3.8% or $1.55 to $29.26 after the semiconductor materials and device maker reported third quarter revenue declined 6% to $219.2 million compared to $234.1 million in the same period last year. Net income in the quarter tumbled 58% to $18.9 million or 17 cents per diluted share compared to $44.6 million or 41 cents per share a year ago.

CSX Corporation ((CSX)) slipped 2.7% or $2.10 to $73.94 after the transportation service provider reported first quarter revenue increased 13% to $2.8 billion from $2.5 billion last year. Net earnings in the quarter rose 30% to $395 million or $1.06 per diluted share compared to $305 million or $0.78 per share a year earlier.

Freeport-McMoRan Copper & Gold Inc. ((FCX)) gained 4.5% or $2.35 to $54.03 after the reported first quarter revenues surged to $5.71 billion from $4.36 billion a year ago. Net income in the quarter climbed to $1.5 billion or $1.57 per diluted share compared to $0.9 million or $1.00 per share a year earlier.

Intel Corporation ((INTC)) soared 6.2% or $1.25 to 21.11 after the chipmaker said first quarter profit revenue rose 25% to a record $12.85 billion from $10.30 billion in the same quarter last year. Net income in the quarter soared 29% to $3.16 billion or 56 cents per diluted share compared to net income of $2.44 billion or 43 cents per share for the year-ago quarter.

International Business Machines Corp. ((IBM)) fell 0.3% or 52 cents to $164.88 after the information technology company reported first quarter total revenues increased 8% on actual rates to $24.6 billion from $22.85 billion in the first quarter of 2010. Net income for the quarter increased 11.5% to $2.9 billion or $2.31 per diluted share compared to net income of $2.6 billion or $1.97 per share in the year-ago quarter.

Juniper Networks, Inc. ((JNPR)) increased 1.4% or 54 cents to $39.08 after the computer networking gear maker said first quarter total revenue rose 21% to $1.10 billion from $912.62 million in the same quarter last year. Net income in the quarter declined 20% to $129.8 million or 24 cents per diluted share compared to net income of $163.1 million or 30 per share for the year-ago quarter.

Piper Jaffray Companies ((PJC)) tumbled 6.1% or $2.34 to $35.60 after the investment bank reported first quarter net revenue surged 13.9% to $124.8 million from $109.6 million in the same quarter last year. Net income in the quarter soared 1,296% to $5.7 million or 38 cents per diluted share compared to $0.4 million or 3 cents per share in the prior-year quarter.

Polaris Industries Inc. ((PII)) surged 19.5% or $17.81 to $108.99 after the off-road vehicles maker said first quarter net sales surged 49% to $537.2 million compared to $361.7 million in the same period last year. Net income in the quarter soared 139% to $47.3 million or $1.34 per diluted share compared to $19.8 million or $0.59 per share a year ago.

Quest Diagnostics Inc ((DGX)) fell 0.5% or 33 cents to $58.44 after the diagnostic testing service provider said first quarter total revenue rose 1% to $1.82 billion from $1.81 million in the same quarter last year. Net income in the quarter declined to $140.8 million or 87 cents per diluted share compared to $162.4 million or 90 per share for the year-ago quarter.

Stryker Corporation ((SYK)) declined 3.8% or $2.35 to $58.76 after the medical technology company reported first quarter net sales increased 10.2% to $2.01 billion compared to $1.80 billion in the same period last year. Net income in the quarter fell 4.4% to $307.4 million or 78 cents per diluted share compared to $321.7 million or 80 cents per share a year ago.

The NASDAQ OMX Group, Inc ((NDAQ)) fell 0.1% or 5 cents to $27.35 after the trading, exchange technology provider said first quarter revenue rose to $683 million from $652 million in the same quarter last year. Net income in the quarter soared to $104 million or 57 cents per diluted share compared to $61 million or 28 cents per share in the prior year quarter.

United Technologies Corporation ((UTX)) gained 4.1% or $3.44 to $85.80 after the technology products provider reported first quarter sales soared 11% to $13.3 billion compared to $12.0 billion in the same period last year. Net income in the quarter increased 19% to $1,012 million or $1.11 per diluted share compared to $866 million or $0.93 per share a year ago.

VMware, Inc. ((VMW)) soared 12.2% or $10.45 to $96.51 after the software solutions provider reported first quarter revenues surged 33% to $843.7 million from $633.53 million a year ago. Net income in the quarter climbed 60.7% to $126 million or 29 cents per diluted share compared to $78.4 million or 19 cents per share a year earlier.

Wells Fargo & Company ((WFC)) plunged 4.5% or $1.36 to $ 28.71 after the diversified financial services company reported second quarter total revenues declined to $20.3 billion from $21.4 billion in the first quarter of 2010. Net income for the quarter surged 48% to $3.8 billion or 67 cents per diluted share compared to net income of $2.5 billion or 45 cents per share in the year-ago quarter.

Yahoo! Inc. ((YHOO)) surged 5.9% or 96 cents to $17.08 after the Internet search engine said first quarter revenue decreased 24% to $1.214 billion from $1.6 billion in the same quarter last year. Net income in the quarter fell 28% to $223.0 million or 17 cents per diluted share compared to $310.2 million or 22 cents per share in the prior year quarter.