U.S. Movers: Chipotle, Capital One, GE, Microsoft and Seagate

Mukesh Buch
21 Oct, 2011
New York City

Chipotle third quarter net surged 25% to $60.4 million. Capital One third quarter net was flat at $813 million. General Electric third quarter net surged 57% to $3.2 billion. Microsoft first quarter net gained 6.1% to $5.74 billion.

[R]12:20 PM New York – Chipotle third quarter net surged 25% to $60.4 million. Capital One third quarter net was flat at $813 million. General Electric third quarter net surged 57% to $3.2 billion. Microsoft first quarter net gained 6.1% to $5.74 billion.[/R]

Air Products and Chemicals, Inc. ((APD)) fell 0.4% or 33 cents to $82.75 after the chemical company reported fourth quarter sales increased 11% to $2.6 billion from $2.3 billion in the previous year. Net income in the quarter increased to $324.8 million or $1.51 per diluted share compared to $272.1 million or $1.25 per share reported a year ago.

A.O. Smith Corporation ((AOS)) gained 3.7% or $1.24 to $33.99 after the manufacturer and marketer of residential and commercial water heaters and boilers stated third quarter net sales increased 9.2% to $412 million from $377.4 million in the previous year. Net earnings in the quarter soared 470% to $182.3 million or $3.91 per diluted share compared to net earnings of $32 million or 69 cents per share reported a year ago.

Altera Corporation ((ALTR)) soared 10% or $3.33 to $36.36 after the semiconductor company reported third quarter sales fell 1% to $522.5 million from $527.4 million in the previous year. Net income in the quarter decreased to $185.4 million or 57 cents per diluted share compared to $217.5 million or 65 cents per share reported a year ago.

Chipotle Mexican Grill, Inc. ((CMG)) increased 6.7% or $20.59 to $328.50 after the restaurant chain said third quarter revenues soared 24.1% to $591.9 million, from $476.9 million the prior-year period. Net income in the quarter increased 25.3% to $60.4 million or $1.90 per diluted share compared to net income of $48.2 million or $1.52 per share in the third quarter of 2010.

Capital One Financial Corporation ((COF)) increased 6.4% or $2.62 to $43.11 after the financial service provider reported third quarter net interest income was flat at $3.83 billion from $3.81 billion in the same quarter last year. Net income in the quarter flat to $813 million or $1.77 per diluted share compared to $803 million or $1.76 per share a year ago period.

Dover Corporation ((DOV)) decreased 2.8% or $1.53 to $52.01 after the industrial products maker reported third quarter revenues soared 22% to $2.2 billion from $1.8 billion in the same quarter last year. Net earnings in the quarter decreased to $172.3 million or $0.91 per diluted share compared to $223.8 billion or $1.19 per share a year ago earlier.

General Electric Company ((GE)) decreased 1.4% or 24 cents to $16.39 after the financial service provider reported flat third quarter total revenues of $35.36 billion from $35.37 billion in the same quarter last year. Net earnings in the quarter surged 57% to $3.22 billion or 22 cents per diluted share compared to $2.05 billion or 18 cents per share for the year-ago quarter.

Honeywell International Inc. ((HON)) advanced 5.2% or $2.53 to $50.99 after the aerospace products maker reported third quarter sales increased 14% to $9.3 billion from $8.1 billion in the previous year. Net income in the quarter increased to $862 million or $1.10 per diluted share compared to $598 million or $0.76 per share reported a year ago.

The company raised its 2011 outlook and estimated sales between $36.5 billion and 36.7 billion, an increase of 13% from 2010.

Harman International Industries, Inc ((HAR)) soared 11.7% or $4.18 to $39.85 after the audio and electronic systems maker reported first quarter net sales surged 26% to $1,051 million from $837 million in the previous year. Net income in the quarter soared 77% to $48 million or 67 cents per diluted share compared to $27 million or 39 cents per share reported a year ago earlier.

Kansas City Southern ((KSU)) increased 1.5% or 89 cents to $58.22 after the holding company reported third quarter revenue soared 24% to $544.5 million from $438.3 million in the previous year. Net income in the quarter increased to $99.8 million or 91 cents per diluted share compared to $50.2 million or 48 cents per share reported a year ago period.

McDonald’s Corporation ((MCD)) rose 2.8% or $2.55 to $91.56 after the restaurants operator reported third quarter revenue grew 14% to $7.17 billion from $6.30 billion in the same quarter last year. Global comparable sales increased 5%. Net income in the quarter rose 9% to $1.51 billion or $1.45 per diluted share compared to $1.39 billion or $1.29 per share for the year-ago quarter.

Microsoft Corporation ((MSFT)) rose 0.1% or 3 cents to $27.09 after the software company said first quarter revenue rose 7.3% to $17.37 billion from $16.19 billion in the same quarter last year. Net income in the quarter gained 6.1% to $5.74 billion or 68 cents per diluted share compared to net income of $5.41 billion or 62 cents per share for the year-ago quarter.

Schlumberger Limited ((SLB)) increased 1.2% or 74 cents to $68.73 after the oilfield services provider reported third quarter revenue surged 49% to $10.23 billion from $6.85 billion in the comparable period. Net income in the quarter fell 25% to $1.30 billion or 96 cents per diluted share compared to net income of $1.73 billion or $1.38 per share in the prior-year period.

SanDisk Corporation ((SNDK) advanced 7.1% or $3.26 to $48.74 after the storage devices and chip maker reported third quarter total revenue increased 15% to $1.42 billion from $1.23 billion in the same quarter last year. Net income in the quarter declined to $233.2 million or $0.96 per diluted share compared to $322.1 million or $1.34 per share for the year ago quarter.

Seagate Technology plc ((STX)) surged 22.3% or $2.69 to $14.75 after the Ireland based storage device maker said revenue rose to $2.81 billion from $2.7 million in the previous year. Net income in the quarter fell to $140 million or 32 cents per diluted share compared to $149 million or 31 cents per share reported a year ago period.

The European Commission announced on October 19 they approved Seagate''s proposed acquisition of Samsung''s hard disk drive assets.

SunTrust Banks, Inc. ((STI)) slipped 4.2% or 82 cents to $18.39 after the commercial bank reported third quarter total revenue increased to $2.2 billion from $2.3 billion in the same quarter last year. Net income in the quarter rose to $215 million or 39 cents per diluted share compared to $153 million or 17 cents per share for the year ago quarter.

Verizon Communications Inc. ((VZ)) rose 2 cents to $37.12 after the communications service provider reported revenue third quarter revenue rose 5.4% to $27.9 billion from $26.5 billion in the previous year. Net income in the quarter increased 31.3% to $3.5 billion or 49 cents per diluted share compared to $2.7 million or 23 cents per share reported a year ago.