U.S. Movers: Bank of America, eBay, Morgan Stanley, UnitedHealth

Mukesh Buch
19 Jan, 2012
New York City

Bank of America fourth quarter net swung to $2 billion and Morgan Stanley reported fourth quarter net loss of $275 million. eBay fourth quarter net surged 254% to $1.98 billion. Union Pacific fourth quarter net soared 24% to $964 million.

[R]10:55 AM New York – Bank of America fourth quarter net swung to $2 billion. BlackRock fourth quarter net slipped 16% to $555 million. eBay fourth quarter net surged 254% to $1.98 billion. Morgan Stanley reported fourth quarter net loss of $275 million. Union Pacific fourth quarter net soared 24% to $964 million.[/R]

Bank of America Corp. ((BAC)) increased 3.9% or 26 cents to $7.07 after the banking and financial service reported fourth quarter total revenue increased to $24.9 billion from $22.4 billion in the same quarter last year. Net income in the quarter swung to $2.0 billion or 15 cents per diluted share compared to net loss of $1.2 billion or 16 cents per diluted share in the year ago.

For the full year total revenue decreased to $93.4 billion compared to $110.2 billion in 2010. Net income for the year swung to $85 million or 1 cent per diluted share compared to net loss of $3,595 million or 37 cents per share in the prior year.

BlackRock, Inc. ((BLK)) fell 0.8% or $1.63 to $186.17 after the investment company reported fourth quarter total revenue decreased 11% to $2.23 billion from $2.49 billion in the same quarter last year. Net income in the quarter slipped 16% to $555 million or $3.05 per diluted share compared to $657 million or $3.35 per diluted share in the year ago.

BB&T Corporation ((BBT)) decreased 1.5% or 42 cents to $27.02 after the financial holding company reported fourth quarter total revenue rose to $2.4 billion from $2.3 billion in the same quarter last year. Net income in the quarter surged 88% to $391 million or 55 cents per diluted share compared to $208 million or 30 cents per diluted share in the year ago.

eBay Inc. ((EBAY)) increased 4% or $1.24 to $31.58 after the online auctioneer said fourth quarter net revenue soared 35% to $3.4 billion from $2.5 billion in the same quarter last year. Net income in the quarter surged 254% to $1.98 billion or $1.51 per diluted share compared to net income of $0.56 billion or $0.42 per share for the year-ago quarter.

For the full year, revenue increased 27% to $11.7 billion compared to $9.1 billion in 2010. Net income for the year soared 79% to $3.2 billion or $2.46 per diluted share compared to net income of $1.80 billion or $1.36 per share in the prior year.

Johnson Controls, Inc. ((JCI)) slipped 8.1% or $2.89 to $32.69 after the automotive interior provider reported first quarter net sales grew 9% to $10.4 billion from $9.5 billion in the same quarter last year. Net income in the quarter increased to $410 million or 60 cents per diluted share compared to $375 million or 55 cents per diluted share in the year ago.

Morgan Stanley ((MS)) increased 5% or 87 cents to $18.22 after the financial service company reported fourth quarter net revenues dropped 26% to $5.71 billion from $7.74 billion in the prior year quarter. Net loss in the quarter was $275 million or 15 cents per diluted share compared to net income of $600 million or 41 cents per share in the fourth quarter of 2010.

PPG Industries, Inc. ((PPG)) decreased 1.5% or $1.40 to $88.50 after the decorative coating material producer reported fourth quarter net sales rose 4% to $3.5 billion from $3.4 billion in the same quarter last year. Net income in the quarter increased to $216 million or $1.39 per diluted share compared to $205 million or $1.24 per diluted share in the year ago.

Southwest Airlines Co. ((LUV)) gained 3.4% or 31 cents to $9.33 after the airlines company reported fourth quarter total revenues soared 31.9% to $4.1 billion from $3.1 billion in the same quarter last year. Net income in the quarter increased 16% to $152 million or 20 cents per diluted share compared to $131 million or 18 cents per diluted share in the year ago.

Sony Ericsson Mobile Communications AB, the mobile phone maker reported fourth quarter sales dropped 16% to €1.29 billion from €1.53 billion. Net loss for the quarter was €207 million compared to a profit of €8 million last year.

The Progressive Corporation ((PGR)) gained 4.3% or 87 cents to $20.72 after the insurance company reported fourth quarter net premiums written increased 9% to $1.01 billion from $0.93 billion in the same quarter last year. Net income in the quarter slumped 32% to $76.3 million or 12 cents per diluted share compared to $112.8 million or 17 cents per diluted share in the year ago.

Union Pacific Corporation ((UNP)) increased 2.8% or $3.15 to $113.01 after the transportation company reported fourth quarter total revenue increased 16% to $5.1 billion from $4.4 billion in the same quarter last year. Net income in the quarter soared 24% to $964 million or $1.99 per diluted share compared to $775 million or $1.56 per diluted share in the year ago.

UnitedHealth Group Inc ((UNH)) slipped 3% or $1.62 to $52.32 after the health care company reported fourth quarter total revenue rose to $25.9 billion from $24.0 billion in the same quarter last year. Net earnings in the quarter rose to $1.26 billion or $1.17 per diluted share compared to $1.04 billion or $0.94 per diluted share in the year ago.