U.S. Movers: Amgen, Aon, Chevron, ITT, Merck, Starbucks, Reuters

Mukesh Buch
29 Jul, 2011
New York City

American Electric Power second quarter net earnings rose to $352 million. Amgen second quarter net income fell to $1.17 billion. Chevron second quarter net income surged to $7.73 billion. Merck second quarter net income rose to $2.02 billion. Starbucks third quarter net earnings rose 34% to $2.8 bn.

[R]12:05 PM New York – American Electric Power second quarter net earnings increased to $352 million. Amgen second quarter net income fell to $1.17 billion. Chevron second quarter net income surged to $7.73 billion. Merck second quarter net income rose to $2.02 billion. Starbucks third quarter net earnings rose 34.2% to $2.8 billion.[/R]

Of 30 the stocks in the Dow, 7 increased and 23 decreased.

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 0.77% followed by increase in International Business Machines Corporation of 0.57%, in United Technologies Corporation of 0.30%, in Cisco Systems, Inc. of 0.25%, in The Procter & Gamble Company of 0.22%.

Merck & Co., Inc. led the decliners with a fall of 1.82%, followed by decline in Hewlett-Packard Company of 1.63%, in Exxon Mobil Corporation of 1.57%, in E. I. du Pont de Nemours and Company of 1.19%, in Johnson & Johnson of 1.03%.

Other Movers

American Electric Power Company, Inc. ((AEP)) fell 0.3% or 11 cents to $37.05 after the holding company reported second quarter revenues rose to $3.6 billion from $3.4 billion in the same quarter last year. Net earnings in the quarter increased to $352 million or 73 cents per diluted share compared to $136 million or 28 cents per share a year ago.

Amgen Inc. ((AMGN)) increased 1.5% or 82 cents to $54.25 after the biotechnology medicines company reported second quarter revenue rose 4% to $3.96 billion from $3.80 billion in the same quarter last year. Net income in the quarter decreased to $1.17 billion or $1.25 per diluted share compared to $1.20 billion or $1.25 per share in the prior-year quarter.

Aon Corporation ((AON)) decreased 2.1% or $1.08 to $48.31 after the insurance company reported second quarter revenue increased 48% to $2.8 billion from $1.9 billion in the same quarter last year. Net income in the quarter increased 69% to $258 million or 75 cents per diluted share compared to $153 million or 54 cents per share a year earlier.

Avon Products, Inc. ((AVP)) fell 0.7% or 20 cents to $26.45 after the beauty and non-beauty products maker reported second quarter revenue rose 9% to $2.9 billion from $2.6 billion in the same quarter last year. Net income in the quarter increased 23% to $206.2 million or 47 cents per diluted share compared to $167 million or 39 cents per share in the prior-year quarter.

BorgWarner In ((BWA)) rose 0.7% or 61 cents to $80.11 after the auto and truck parts supplier reported second quarter sales increased 28% to $1.82 billion from $1.42 billion in the same quarter last year. Net income in the quarter increased to $162 million or $1.31 per diluted share compared to $83 million or $0.68 per share a year earlier.

Chevron Corporation ((CVX)) fell 0.4% or 43 cents to $104.60 after the oil and gas investment company reported second quarter total revenue soared to $68.9 billion from $53 billion in the same quarter last year. Net income in the quarter surged to $7.73 billion or $3.85 per diluted share compared to $5.41 billion or $2.70 per share a year ago.

Coventry Health Care, Inc. ((CVH)) slumped 4.8% or $1.67 to $33.00 after the healthcare company reported second quarter revenue increased to $3 billion from $2.9 billion in the same quarter last year. Net earnings in the quarter rose to $224.5 million or $1.51 per diluted share compared to $1.02 million or $0.01 per share a year ago.

Helmerich & Payne, Inc. ((HP)) decreased 1.3% or 98 cents to $70.80 after the oil and gas drilling contractor reported third quarter revenue increased to $644 million from $483 million in the same quarter last year. Net income in the quarter was $109.8 million or $1.01 per diluted share compared to net loss $36.7 million or $0.34 per share a year ago.

ITT Corporation ((ITT)) fell 0.5% or 30 cents to $54.20 after the aerospace and defense contractor reported second quarter revenue increased to $3.0 billion from $2.7 billion in the same quarter last year. Net income in the quarter decreased to $168 million or 90 cents per diluted share compared to $238 million or $1.28 per share a year earlier.

Merck & Co., Inc. ((MRK)) decreased 1.8% or 64 cents to $34.28 after the health care company reported second quarter sales increased 7% to $12.2 billion from $11.3 billion in the same quarter last year. Net income in the quarter rose to $2.02 billion or 65 cents per diluted share compared to $0.75 billion or 24 cents per share a year ago.

Newmont Mining Corporation ((NEM)) decreased 2.6% or $1.51 to $56.22 after the gold producer reported second quarter sales increased 11% to $2.4 billion from $2.2 billion in the same quarter last year. Net income in the quarter rose to $387 million or 77 cents per diluted share compared to $382 million or 77 cents per share a year ago.

Noble Energy, Inc. ((NBL)) rose 0.3% or 33 cents to $99.43 after the energy company reported second quarter revenue increased to $954 million from $751 million in the same quarter last year. Net income in the quarter increased to $294 million or $1.61 per diluted share compared to $204 million or $1.10 per share a year earlier.

Starbucks Corporation ((SBUX)) increased 1.7% or 68 cents to $40.65 after the coffe house operator reported third quarter revenues increased 12.3% to $2.9 billion from $2.6 billion in the same quarter last year. Global comparable store sales increased 8%. Net earnings in the quarter increased 34.2% to $279.1 million or 36 cents per diluted share compared to $207.9 million or 27 cents per share a year ago.

Thomson Reuters Corporation ((TRI)) fell 0.6% or 22 cents to $34.57 after the financial printing and publishing service provider reported second quarter revenue rose 7% to $3.4 billion from $3.2 billion in the same quarter last year. Net earnings in the quarter increased to $572 million or 67 cents per diluted share compared to $297 million or 35 cents per share in the prior-year quarter.

The McGraw-Hill Companies, Inc. ((MHP)) decreased 1.5% or 66 cents to $41.99 after the printing and publishing company reported second quarter revenue increased 7.2% to $1.6 billion from $1.5 billion in the same quarter last year. Net income in the quarter increased 10.5% to $211.1 million or 68 cents per diluted share compared to $191.1 million or 61 cents per share a year earlier.