U.S. Movers: Citigroup, M&T Bank, TD Ameritrade, Wells Fargo

Mukesh Buch
17 Jan, 2012
New York City

Citigroup fourth quarter net slipped 11% to $1.2 billion and Wells Fargo fourth quarter net increased 20% to $4.1 billion. Forest Laboratories third quarter net decreased to $278.4 million. M&T Bank fourth quarter net decreased 28% to $147.7 million. TD Ameritrade first quarter net rose to $152 mn.

[R]10:55 AM New York – Citigroup fourth quarter net slipped 11% to $1.2 billion and Wells Fargo fourth quarter net increased 20% to $4.1 billion. Forest Laboratories third quarter net decreased to $278.4 million. M&T Bank fourth quarter net decreased 28% to $147.7 million. TD Ameritrade first quarter net rose to $152 million.[/R]

Earnings Review

AEP Industries Inc. ((AEPI)) rose 0.2% or 12 cents to $41.49 after the plastic packaging company said fourth quarter net sales soared 21.8% to $974.8 million from $800.6 million in the same quarter last year. Net income in the quarter swung to $12.4 million or $2.09 per diluted share compared to net loss of $0.6 million or $0.08 share a year earlier.

Citigroup Inc. ((C)) slipped 4.2% or $1.31 to $29.43 after the diversified financial service provider reported fourth quarter total revenue increased 7% to $17.2 billion from $18.4 billion in the same quarter last year. Net income in the quarter slipped 11% to $1.2 billion or 38 cents per diluted share compared to $1.3 billion or 43 cents share a year ago.

Check Point Software Technologies Ltd ((CHKP)) gained 4.5% or $2.32 to $53.22 after the Israel based reported fourth quarter revenue grew 12% to $356.8 million from $318.5 million in the same quarter last year. Net income in the quarter increased 16% to $159.8 million or 75 cents per diluted share compared to $137.4 million or 64 cents share a year ago period.

First Republic Bank ((FRC) increased 1.2% or 40 cents to $32.15 after the bank said fourth quarter total interest income rose to $314.8 million from $282.8 million in the same quarter last year. Net income in the quarter increased 16% to $90.7 million or 68 cents per diluted share compared to $76.0 million or 60 cents share a year ago earlier.

Forest Laboratories, Inc. ((FRX)) increased 2.9% or 90 cents to $31.80 after the biotechnology and drugs maker reported third quarter net sales increased 9.2% to $1.2 billion from $1.1 billion in the same quarter last year. Net income in the quarter decreased to $278.4 million or $1.04 per diluted share compared to $320.7 million or $1.11 share a year quarter.

M&T Bank Corporation ((MTB)) decreased 2.3% or $1.96 to $80.38 after the bank holding company reported fourth quarter net interest income grew 8% to $618.0 million from $574.1 million in the same quarter last year. Net income in the quarter decreased 28% to $147.7 million or $1.04 per diluted share compared to $204.4 million or $1.59 share a year ago period.

McMoRan Exploration Co. ((MMR)) increased 2.8% or 31 cents to $13.05 after the oil and natural gas explorer said fourth quarter total revenue increased to $121.9 million from $99.0 million in the same quarter last year. Net income in the quarter swung to $28.4 million or 16 cents per diluted share compared to net loss of $84.3 million or 83 cents share a year ago earlier.

New Oriental Education & Technology Group Inc ((EDU)) slipped 9.5% or $2.40 to $22.82 after the China based educational service provider reported fourth quarter net revenues soared 38% to $132.0 million from $95.7 million in the same quarter last year. Net income in the quarter surged 80.5% to $3.3 million or 2 cents per diluted share compared to $1.8 million or 1 cent share a year ago period.

Neptune Technologies & Bioressources Inc. ((NEPT)) fell 2.5% or 7 cents to $2.68 after the Canada based natural marine products maker said third quarter revenue increased 19% to $5.24 million from $4.29 million in the same quarter last year. Net loss in the quarter rose to $1.43 million compared to $5.0 million a year ago quarter.

TD Ameritrade Holding Corporation ((AMTD)) rose 1.5% or 25 cents to $16.05 after the brokerage service provider reported first quarter net revenues fell to $653.4 million from $656.2 million in the same quarter last year. Net income in the quarter rose to $152 million or 27 cents per diluted share compared to $145 million or 25 cents share a year ago earlier.

Wells Fargo & Company ((WFC)) increased 1.6% or 48 cents to $30.09 after the financial services company reported fourth quarter revenue fell 4% to $20.6 billion from $21.4 billion in the same quarter last year. Net income in the quarter rose 20% to $4.1 billion or 73 cents per diluted share compared to $3.4 billion or 61 cents share a year ago.