U.S. Movers: AT&T, Danaher, Eli Lilly, eBay, Nokia, McGraw-Hill

Mukesh Buch
20 Oct, 2011
New York City

AT&T third quarter net income plummeted 71% to $3.63 billion. American Express third quarter net income rose 13% to $1.23 billion. BB&T quarterly net income soared 73% to $366 million. Eli Lilly third quarter net income fell 5% to $1.23 bn. Wynn Resorts third quarter net income swung to $1.37 bn.

[R]11:50 AM New York – AT&T third quarter net income plummeted 71% to $3.63 billion. American Express third quarter net income rose 13% to $1.23 billion. BB&T quarterly net income soared 73% to $366 million. Eli Lilly third quarter net income fell 5% to $1.23 billion. Wynn Resorts third quarter net income swung to $1.37 billion.[/R]

AT&T Inc. ((T)) fell 0.7% or 22 cents to $28.87 after the provider of telecommunications services said third quarter revenues fell 0.3% to $31.48 billion from $31.58 billion in the year-earlier quarter.

Net income in the quarter plummeted 71% to $3.63 billion or 61 cents per diluted share compared to net income of $12.32 billion or $2.07 per share last year, which included one-time gains from a tax settlement and the sale of Sterling Commerce.

American Express Company ((AXP)) decreased 2.2% or $1.04 to $45.09 after the credit payment card provider reported third quarter revenues increased 9% to $7.57 billion from $6.97 billion in the same quarter last year. Net income in the quarter increased 13% to $1.23 billion or $1.03 per diluted share compared to $1.09 billion or $0.90 per share a year ago earlier.

Baxter International Inc. ((BAX)) slipped 3.3% or $1.81 to $53.20 after the healthcare company reported third quarter net sales grew 8% to $3.48 billion from $3.22 billion in the same quarter last year. Net income in the quarter increased 10% to $576 million or $1.01 per diluted share compared to $525 million or $0.89 per share a year ago earlier.

BB&T Corporation ((BBT)) fell 0.7% or 16 cents to $22.14 after the financial holding company reported third quarter net revenue decreased to $2.14 billion from $2.46 billion in the same quarter last year. Net income in the quarter soared 73% to $366 million or 52 cents per diluted share compared to $210 million or 30 cents per share a year ago.

Danaher Corporation ((DHR)) increased 2.7% or $1.20 to $45.28 after the medical and industrial products maker reported third quarter sales increased to $4.52 billion from $3.09 billion in the same quarter last year. Net earnings in the quarter decreased to $523.4 million or 74 cents per diluted share compared to $646.4 million or 95 cents per share a year ago earlier.

Diamond Offshore Drilling, Inc. ((DO)) rose 0.4% or 26 cents to $60.01 after the oil and gas drilling contractor reported third quarter revenues rose to $878.2 million from $799.7 million in the same quarter last year. Net income in the quarter rose to $256.9 million or $1.85 per diluted share compared to $198.5 million or $1.43 per share a year ago quarter.

Eli Lilly and Company ((LLY)) fell 0.5% or 23 cents to $38.46 after the pharmaceutical company reported third quarter net revenue increased 9% to $6.15 billion from $5.65 billion in the same quarter last year. Net income in the quarter fell 5% to $1.23 billion or $1.11 per diluted share compared to $1.30 billion or $1.18 per share a year ago.

The company expects total revenue to grow in the single digits and anticipates that impact of U.S. health care reform will lower 2011 revenue by $400 million to $500 million.

eBay Inc. ((EBAY)) decreased 4.3% or $1.43 to $31.75 after the online auctioneer said third quarter revenue rose 32% to $2.97 billion from $2.25 billion in the same quarter last year. Net income in the quarter increased 13.6% to $490.5 million or 37 cents per diluted share compared to net income of $431.9 million or 33 cents per share for the year-ago quarter.

Fifth Third Bancorp ((FITB)) soared 6.7% or 72 cents to $11.38 after the diversified financial services company reported third quarter net interest income fell 2% to $902 million from $916 million in the same quarter last year. Net income in the quarter surged 112% to $373 million or 40 cents per diluted share compared to $175 million or 22 cents per share a year ago period.

Ingersoll-Rand plc ((IR)) dropped 8.1% or $2.42 to $27.31 after the Ireland based industrial products maker reported third quarter sales grew 5% to $3.92 billion from $3.73 billion in the same quarter last year. Net earnings in the quarter tumbled to $86.2 million or 25 cents per diluted share compared to $232.2 million or 68 cents per share a year ago.

The company expects fourth quarter revenue to be in the range of $3.52 billion to $3.62 billion and revenue for the full year expected to be in the range of $14.85 billion to $14.95 billion.

Laboratory Corporation of America Holdings ((LH)) decreased 1.7% or $1.41 to $80.53 after the primary healthcare laboratory operator reported third quarter net sales increased 10% to $1.40 billion from $1.28 billion in the same quarter last year. Net earnings in the quarter decreased to $134.3 million or $1.31 per diluted share compared to $140.0 million or $1.34 per share a year ago earlier.

Noble Energy, Inc ((NBL)) increased 2.3% or $1.98 to $86.12 after the energy company reported third quarter total revenues increased to $924 million from $755 million in the same quarter last year. Net income in the quarter increased to $441 million or $2.59 per diluted share compared to $232 million or $1.31 per share a year ago earlier.

Nokia Corporation ((NOK)) gained 4.7% or 29 cents to $6.41 after the Finland based mobile communication provider reported third quarter sales decreased 13% to €8.98 billion from €10.27 billion in the same quarter last year. Net loss in the quarter swung to €151 million or 2 pence per diluted share compared to net profit of €322 million or 14 pence per share a year ago.

Philip Morris International Inc. ((PM)) increased 3.7% or $2.46 to $68.48 after the holding company reported third quarter net revenues increased 22.3% to $20.7 billion from $16.9 billion in the same quarter last year. Net earnings in the quarter increased 30.5% to $2.37 billion or $1.35 per diluted share compared to $1.82 billion or $0.99 per share a year ago earlier.

Southwest Airlines Co. ((LUV)) increased 3.3% or 29 cents to $9.00 after the airline company reported third quarter revenues increased 35.1% to $4.31 billion from $3.19 billion in the same quarter last year. Net loss in the quarter decreased 26% to $140 million or 18 cents per diluted share compared to net income of $205 million or 27 cents per share a year ago earlier.

The McGraw-Hill Companies, Inc ((MHP)) decreased 1.3% or 57 cents to $42.50 after the printing and publishing company reported third quarter revenue decreased 2.5% to $1.91 billion from $1.97 billion in the same quarter last year. Net earnings in the quarter decreased 3.8% to $365.6 million or $1.21 per diluted share compared to $379.9 million or $1.23 per share a year ago earlier.

Wynn Resorts, Limited ((WYNN)) slumped 5.2% or $6.86 to $123.41 after the casino resorts operator reported third quarter net revenue increased to $1.3 billion from $1 billion in the same quarter last year. Net income in the quarter swung to $1.37 billion or $1.01 per diluted share compared to net loss of $0.34 billion or $0.27 per share a year ago earlier.