U.S. Movers: ABB, AT&T, Danaher, Morgan Stanley, PepsiCo, Whirlpool

Mukesh Buch
21 Jul, 2011
New York City

ABB second quarter net earnings soared 43% to $893 million. AT&T second quarter net income fell 10% to $3.59 billion. Danaher second quarter net income surged to $648.8 million. Morgan Stanley reported second quarter loss of $558 million. PepsiCo net income in the quarter rose 18% to $1.9 billion.

[R]12:05 PM New York – ABB second quarter net earnings soared 43% to $893 million. AT&T second quarter net income fell 10% to $3.59 billion. Danaher second quarter net income surged to $648.8 million. Morgan Stanley reported second quarter loss of $558 million. PepsiCo net income in the quarter rose 18% to $1.9 billion.[/R]

Of 30 the stocks in the Dow, 29 increased and 1 decreased.

Of the stocks in the Dow Jones Industrial Average, The Walt Disney Company led the gainers with a rise of 2.87% followed by increase in Cisco Systems, Inc. of 2.53%, in Bank of America Corporation of 2.39%, in JPMorgan Chase & Co. of 2.20%, in E. I. du Pont de Nemours and Company of 1.98%.

Intel Corporation led the decliners with a fall of 1.09%.

Other Movers

ABB Ltd ((ABB)) decreased 1.7% or 44 cents to $24.94 after the Switzerland based power and automation reported second quarter revenue increased 28% to $9.68 billion from $7.57 billion in the same quarter last year. Net earnings in the quarter soared 43% to $893 million or 39 cents per diluted share compared to $623 million or 27 cents per share a year ago.

AT&T Inc. ((T)) rose 0.8% or 27 cents to $30.50 after the communication services provider reported second quarter revenues rose 2.2% to $31.5 billion from $30.8 billion in the same quarter last year. Net income in the quarter fell 10.3% to $3.59 billion or 60 cents per diluted share compared with $4.00 billion or 67 cents per diluted share in the year-ago period.

Autoliv, Inc. ((ALV)) slipped 2.8% or $1.97 to $67.81 after the Sweden based automotive parts maker reported second quarter net sales increased 14% to $2.06 billion from $1.80 billion in the same quarter last year. Net income in the quarter fell to $145 million or $1.54 per diluted share compared with $146.5 million or $1.60 per diluted share in the year-ago period.

Baxter International Inc. ((BAX)) increased 1.8% or $1.10 to $61.93 after the healthcare company reported second quarter net sales increased 11% to $3.53 billion from $3.19 billion in the same quarter last year. Net income in the quarter increased 15% to $615 million or $1.07 per diluted share compared with $535 million or $0.90 per diluted share a year ago.

BB&T Corporation ((BBT)) increased 2.5% or 64 cents to $26.27 after the financial holding company reported second quarter net sales fell to $2.18 billion from $2.43 billion in the same quarter last year. Net income in the quarter soared 46% to $327 million or 44 cents per diluted share compared with $224 million or 30 cents per diluted share a year ago.

Celanese Corporation ((CE)) gained 4.5% or $2.47 to $57.09 after the intermediate chemical maker reported second quarter net sales rose 16% to $1.75 billion from $1.52 billion in the same quarter last year. Net earnings in the quarter increased to $203 million or $1.28 per diluted share compared to $160 million or $1.01 per share a year earlier.

Cooper Industries plc ((CBE)) slumped 3.6% or $2.15 to $57.00 after the Ireland based electrical products maker reported second quarter revenues rose to $1.37 billion from $1.34 billion in the same quarter last year. Net income in the quarter increased 11.8% to $161.4 million or 96 cents per diluted share compared with $41.6 million or 25 cents per diluted share in the year-ago period.

Danaher Corporation ((DHR)) decreased 2.8% or $1.50 to $51.61 after the medical, industrial and commercial products maker reported second quarter sales rose to $3.71 billion from $3.22 billion in the same quarter last year. Net income in the quarter surged to $648.8 million or 94 cents per diluted share compared with $372.5 million or 55 cents per diluted share a year ago.

Eli Lilly and Company ((LLY)) increased 1.4% or 57 cents to $38.74 after the pharmaceutical company reported second quarter total revenues increased 9% to $6.25 billion from $5.75 billion in the same quarter last year. Net income in the quarter decreased 11% to $1.2 billion or $1.07 per diluted share compared to $1.3 billion or $1.22 per share a year earlier.

Express Scripts, Inc. ((ESRX)) advanced 3.6% or $1.93 to $54.47 after the pharmacy benefit company reported second quarter revenues rose to $11.4 billion from $11.3 billion in the same quarter last year. Net income in the quarter increased to $334.2 million or 66 cents per diluted share compared with $289.9 million or 53 cents per diluted share in the year-ago period.

Fifth Third Bancorp ((FITB)) gained 3.2% or 39 cents to $12.72 after the financial services company reported second quarter net interest income fell 2% to $869 million from $887 million in the same quarter last year. Net income in the quarter surged 75% to $337 million or 35 cents per diluted share compared to $192 million or 16 cents per share a year earlier.

Goodrich Corporation ((GR)) increased 5.6% or $5.22 to $98.33 after the aerospace components provider reported second quarter sales increased 17% to $2.0 billion from $1.7 billion in the same quarter last year. Net income in the quarter increased to $176.6 million or $1.38 per diluted share compared to $159.0 million or $1.24 per share a year ago.

Ingersoll-Rand plc ((IR)) slumped 7.4% or $3.34 to $41.43 after the Ireland based diversified company reported second quarter revenues rose 12% to $3.9 billion from $11.3 billion in the same quarter last year. Net income in the quarter increased to $334.2 million or 66 cents per diluted share compared with $289.9 million or 53 cents per diluted share in the year-ago period.

Morgan Stanley ((MS)) increased 8.3% or $1.81 to $23.53 after the financial services provider reported second quarter revenue soared 22% to $9.3 billion from $8 billion in the same quarter last year. Net loss in the quarter was $558 million or $0.38 per diluted share compared to net income of $1,578 million or $1.09 per share a year ago.

The New York Times Company ((NYT)) gained 3.3% or 30 cents to $9.27 after the media company reported second quarter total revenues fell 2.2% to $576.7 million from $589.6 million in the same quarter last year. Net loss in the quarter was $119.7 million or 81 cents per diluted share compared with net income of $32 million or 21 cents per diluted share in the year-ago period.

PepsiCo, Inc. ((PEP)) decreased 4.8% or $3.31 to $65.20 after the snack and beverage company reported second quarter net revenues increased 14% to $16.8 billion from $14.8 billion in the same quarter last year. Net income in the quarter increased 18% to $1.9 billion or $1.17 per diluted share compared to $1.6 billion or $0.98 per share a year earlier.

Philip Morris International Inc ((PM)) advanced 4% or $2.73 to $70.92 after the holding company reported second quarter net revenues increased 16.4% to $20.2 billion from $17.4 billion in the same quarter last year. Net earnings in the quarter increased 21.5% to $2.4 billion or $1.35 per diluted share compared to $2.0 billion or $1.07 per share a year ago.

The Travelers Companies, Inc. ((TRV)) rose 0.4% or 28 cents to $57.34 after the holding company reported second quarter net written premium rose 2% to $5.8 billion from $5.7 billion in the same quarter last year. Net loss in the quarter was $364 million or $0.88 per diluted share compared to $670 million or $1.35 cents per share a year ago.

The Blackstone Group L.P. ((BX)) increased 3.3% or 54 cents to $16.80 after the investment services provider reported second quarter total revenues surged to $1.31 billion from $0.55 billion in the comparable period. Net income in the quarter was $86.2 million or 18 cents per diluted share compared with net loss of $193.3 billion or 55 cents per diluted share in the year-ago period.

United Continental Holdings, Inc ((UAL)) rose 0.5% or 12 cents to $20.40 after the airline company total revenues increased 10.3% to $9.8 billion from $9.0 billion in the same quarter last year. Net income in the quarter decreased 11.9% to $538 million or $1.39 per diluted share compared to $611 million or $1.57 per share a year ago.

Whirlpool Corporation ((WHR)) decreased 4.4% or $3.37 to $72.27 after the appliances maker reported second quarter net sales rose to $4.73 billion from $4.53 billion in the same quarter last year. Net loss in the quarter was $161 million or $2.10 per diluted share compared with $205 million or $2.64 per diluted share a year ago.