U.S. Movers: Abbott, Apple, BlackRock, Chipotle Mexican Grill, Ecolab

Mukesh Buch
20 Jul, 2011
New York City

Abbott second quarter net earnings soared 50% to $1.9 billion. Apple third quarter net profit surged to $7.31 billion. BlackRock second quarter net income surged 45% to $619 million. Ecolab made merge agreement with Nalco for $8 bn. United Technologies second quarter net income rose 21%to $1.32 bn.

[R]1:15 PM New York – Abbott second quarter net earnings soared 50% to $1.9 billion. Apple third quarter net profit surged to $7.31 billion. BlackRock second quarter net income surged 45% to $619 million. Ecolab made merge agreement with Nalco for $8 billion. United Technologies second quarter net income soared 21% to $1.32 billion.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 3.55% followed by increase in The Boeing Company of 3.03%, in JPMorgan Chase & Co. of 1.72%, in Cisco Systems, Inc. of 1.15%, in General Electric Company of 0.81%.

United Technologies Corporation led the decliners with a fall of 2.95%, followed by decline in Microsoft Corporation of 1.72%, in Hewlett-Packard Company of 1.32%, in International Business Machines Corporation of 0.79%, in Pfizer Inc. of 0.55%.

Other Movers

Abbott Laboratories ((ABT)) decreased 1.1% or 58 cents to $52.31 after the healthcare product maker reported second quarter sales increased 9% to $9.6 billion from $8.8 billion in the comparable period. Net earnings in the quarter soared 50.4% to $1.9 billion or $1.23 per diluted share compared with $1.3 billion or $0.83 a diluted share in the year-ago period.

Altria Group, Inc. ((MO)) slipped 3.2% or 88 cents to $26.14 after the holding company reported second quarter revenue fell 5.6% to $5.92 billion from $6.27 billion in the same quarter last year. Net earnings in the quarter declined 57.4% to $444 million or 21 cents per diluted share compared to $1,042 million or 50 cents per share a year ago.

Amphenol Corporation ((APH)) decreased 1.7% or 92 cents to $50.76 after the fiber optic connector maker reported second quarter net sales increased to $1,018 million from $885 million in the comparable period. Net income in the quarter increased to $147.7 million or 86 cents per diluted share compared with $129.7 billion or 75 cents per diluted share in the year-ago period.

Apple Inc. ((AAPL)) gained 2.9% or $11.30 to $388.10 after the personal computers, mobile and media devices maker reported third quarter revenue soared to $28.57 billion from $15.70 billion in the same quarter last year. Net profit in the quarter surged to $7.31 billion or $7.79 per diluted share compared to $3.25 billion or $3.51 per share a year ago.

Altera Corporation ((ALTR)) slumped 6.5% or $2.84 to $40.72 after the semiconductor company reported second quarter sales rose 17% to $548.4 million from $469.3 million in the comparable period. Net income in the quarter increased to $214.6 million or 65 cents per diluted share compared to $180.6 million or 58 cents per diluted share in the year-ago period.

BlackRock, Inc. ((BLK)) rose 0.7% or $1.30 to $185.00 after the investment company reported second quarter revenue increased 16% to $2.35 billion from $2.03 billion in the same quarter last year. Net income in the quarter surged 45% to $619 million or $3.21 per diluted share compared to $432 million or $2.21 per share a year ago.

Chipotle Mexican Grill, Inc. ((CMG)) decreased 1.5% or $5.16 to $328.42 after the restaurants operator reported second quarter revenue increased 22.4% to $571.6 million from $466.8 million in the same quarter last year. Comparable restaurant sales increased 10% Net income in the quarter increased 9% to $50.7 million or $1.59 per diluted share compared to $46.5 million or $1.46 per share a year ago.

CSX Corporation ((CSX)) decreased 1.8% or 46 cents to $25 after the transportation supplier reported second quarter revenue increased 13% to $3.02 billion from $2.66 billion in the same quarter last year. Net earnings in the quarter increased 22% to $506 million or 46 cents per diluted share compared to $414 million or 36 cents per share a year ago.

Ecolab Inc. ((ECL)) slumped 9.4% or $5.24 to $50.15 after the personal and household products maker and Nalco Holding Company announced a definitive agreement under which Nalco will merge with subsidiary of Ecolab in a transaction valued for $8 billion. The transaction is expected to close in the fourth quarter.

M&T Bank Corporation ((MTB)) rose 0.7% or 67 cents to $87.47 after the bank holding company reported second quarter net interest income rose 3% to $586.2 million from $567.2 million in the same quarter last year. Net income in the quarter surged 71% to $322.4 million or $2.42 per diluted share compared to $188.7 million or $1.46 per share a year earlier.

Piper Jaffray Companies ((PJC)) increased 11% or $2.99 to $30.13 after the investment bank and securities company reported second quarter net revenues rose 6.5% to $135.9 million from $127.6 million in the comparable period. Net income in the quarter soared 53.4% to $8.7 million or 55 cents per diluted share compared to $5.7 million or 36 cents per diluted share in the year-ago period.

United Technologies Corporation ((UTX)) slipped 2.6% or $2.31 to $86.51 after the aerospace and defense products maker reported second quarter net sales increased to $15.0 billion from $13.8 billion in the comparable period. Net income in the quarter soared 21% to $1.32 billion or $1.45 per diluted share compared with $1.11 billion or $1.20 per diluted share in the year-ago period.

U.S. Bancorp ((USB)) gained 4.5% or $1.13 to $26.16 after the financial services holding company reported second quarter net revenues rose 3.8% to $4.69 billion from $4.52 billion in the comparable period. Net income in the quarter soared 35.4% to $1.17 billion or 60 cents per diluted share compared to $0.86 billion or 45 cents per diluted share in the year-ago period.