U.S. Movers: American Tower, BB&T, Pfizer, Thomson Reuters, Allstate

Mukesh Buch
01 Nov, 2011
New York City

American Tower third quarter net swung to $15.7 million. Baker Hughes third quarter net soared to $706 million. BB&T to acquired BankAtlantic. Pfizer third quarter net surged to $3.7 billion. Thomson Reuters third quarter net increased to $381 million. Allstate net declined 55% to $165 million.

[R]11:20 PM New York – American Tower third quarter net swung to $15.7 million. Baker Hughes third quarter net soared to $706 million. BB&T to acquired BankAtlantic. Pfizer third quarter net surged to $3.7 billion. Thomson Reuters third quarter net increased to $381 million. Allstate net declined 55% to $165 million.[/R]

AmerisourceBergen Corporation ((ABC)) decreased 4.1% or $1.75 to $40.33 after the pharmaceutical company reported fourth quarter revenue rose 3.5% to $20.4 billion from $19.7 billion in the year-ago quarter. Net income in the quarter increased 4.3% to $147.3 million or 54 cents per diluted share compared to $141.2 million or 50 cents per share in the year ago period.

American Tower Corporation ((AMT)) increased 1.3% or 77 cents to $57.09 after the communications service provider reported third quarter total revenues increased 22.8% to $630.4 million from $513.3 million in the year-ago quarter. Net loss in the quarter swung to $15.7 million or 4 cents per diluted share compared to net income of $93.4 million or 23 cents per share a year ago.

Archer Daniels Midland Company ((ADM)) slumped 7.5% or $2.28 to $28.05 after the agriculture products processor reported first quarter net sales rose to $21.9 billion from $16.8 billion in the year ago quarter. Net earnings in the quarter increased to $460 million or 68 cents per diluted share compared to $345 million or 54 cents per share in the year ago earlier.

Baker Hughes Inc ((BHI)) dropped 12.4% or $7.59 to $53.30 after the oilfield service provider reported third quarter revenue increased 27% to $5.18 billion from $4.08 billion in the year ago quarter. Net income in the quarter soared to $706 million or $1.61 per diluted share compared to $255 million or $0.59 per share a year ago quarter.

BB&T Corporation ((BBT)) slipped 4.3% or $1.03 to $22.88 after the financial holding company agreed to acquire BankAtlantic, the wholly owned subsidiary of BankAtlantic Bancorp ((BBX)). Under the terms BB&T will acquire approx $2.1 billion in loan and $3.3 billion in deposits. The transaction has approved by the board of directors of both the companies.

CME Group Inc. ((CME)) slumped 7.2% or $20.38 to $259.62 after the investment service provider reported third quarter total revenues increased 19% to $874.2 million from $733.4 million in the year ago quarter. Net income in the quarter increased to $316.1 million or $4.74 per diluted share compared to $244.3 million or $3.66 per share a year ago period.

Cavium, Inc. ((CAVM)) decreased 5.6% or $1.93 to $32.10 after the semiconductor reported third quarter revenue increased 22.7% to $67.7 million from $55.2 million in the year ago quarter. Net income in the quarter rose to $6.0 million or 12 cents per diluted share compared to $5.0 million or 10 cents per share a year ago earlier.

Emerson Electric Co. ((EMR)) rose 3 cents to $49.62 after the engineering service provider reported fourth quarter net sales grew 12% to $6.5 billion from $5.8 billion last year. Net earnings in the quarter rose 2% to $761 million or $1.01 per diluted share compared to $749 million or $0.98 per share last year.

Entergy Corporation ((ETR)) decreased 1.1% or 81 cents to $68.20 after the integrated energy company reported third quarter total revenues rose to $3.4 billion from $3.3 billion in the year ago quarter. Net income in the quarter increased to $628 million or $3.53 per diluted share compared to $492.9 million or $2.62 per share a year ago earlier.

Gartner, Inc ((IT)) decreased 4.1% or $1.67 to $38.50 after the technology research and advisor reported third quarter total revenues increased 17% to $345.8 million from $296.1 million in the year ago quarter. Net income in the quarter soared 52% to $30.4 million or 31 cents per diluted share compared to $20.1 million or 20 cents per share a year ago period.

Henry Schein, Inc. ((HSIC)) slumped 9.1% or $6.49 to $64.49 after the healthcare service provider reported third quarter net sales grew 11.5% to $2.1 billion from $1.89 billion last year. Net income in the quarter rose 4.6% to $92.0 million or 99 cents per diluted share compared to $87.9 million or 94 cents per share last year.

Herbalife Ltd. ((HLF)) decreased 3% or $1.87 to $59.67 after the Cayman Islands based marketing company reported third quarter net sales increased 30% to $895.2 million from $688.4 million last year. Net income in the quarter rose to $108 million or 87 cents per diluted share compared to $78.9 million or 63 cents per share last year.

Pfizer Inc. ((PFE)) fell 0.5% or 11 cents to $19.71 after the pharmaceutical company reported third quarter revenue increased 7% to $17.2 billion from $16.0 billion in the year ago quarter. Net income in the quarter surged to $3.7 billion or 48 cents per diluted share compared to $0.87 billion or 11 cents per share a year ago.

Pfizer reaffirm its financial targets of full year 2011 and 2012 and reported revenues would be in the range of $66.2 to $67.2 billion and $62.2 to $64.7 billion for the respective years. The company lifted earnings per share to range between $1.20 and $1.30, slightly up from previous target for 2011.

Pinnacle West Capital Corporation ((PNW)) decreased 2.7% or $1.29 to $45.17 after the holding company reported third quarter total revenues flat to $1.13 billion from $1.12 billion in the year ago quarter. Net income in the quarter rose to $255.3 million or $2.32 per diluted share compared to $233.9 million or $2.14 per share a year ago period.

Public Service Enterprise Group Inc ((PEG)) decreased 2.1% or 72 cents to $33.27 after the holding company reported third quarter revenue fell to $2.62 billion from $3.11 billion in the year ago quarter. Net income in the quarter declined to $294 million or $0.58 per diluted share compared to $567 million or $1.12 per share a year ago earlier.

Thomson Reuters Corporation ((TRI)) fell 2.7% or 84 cents to $29.43 after the businesses and professional media services provider reported third quarter revenue grew 6% to $3.45 billion from $3.25 billion in the year ago quarter. Net earnings in the quarter increased to $381 million or 44 cents per diluted share compared to $277 million or 32 cents per share a year ago.

Tenet Healthcare Corporation ((THC)) decreased 2.6% or 14 cents to $4.93 after the health care service provider reported third quarter revenue rose 3.5% to $2.34 billion from $2.26 billion in the year ago quarter. Net income in the quarter plunged to $6 million or $0.02 per diluted share compared to $932 million or $1.68 per share a year ago quarter.

The Allstate Corporation ((ALL)) fell 2.1% or 58 cents to $26.58 after the property and casualty insurance company reported third quarter revenue increased 7% to $8.24 billion from $7.91 billion in the year ago quarter. Net income in the quarter declined 55% to $165 million or 32 cents per diluted share compared to $367 million or 68 cents per share a year ago.

Watson Pharmaceuticals, Inc. ((WPI)) decreased 2.5% or $1.78 to $67.57 after the pharmaceutical company reported third quarter revenue increased 23% to $1.1 billion from $0.88 billion in the year ago quarter. Net income in the quarter surged to $68.1 million or 54 cents per diluted share compared to $25.7 million or 21 cents per share a year ago earlier.