U.S. Movers: Comcast, Deere, Kellogg, MetLife, Scana

Mukesh Buch
15 Feb, 2012
New York City

Comcast fourth quarter net increased 26% to $1.29 billion. Deere & Co. first quarter net increased 4% to $533 million. Kellogg agreed to acquire Pringles business of P&G for $2.7 billion. MetLife fourth quarter net surged to $1.13 billion.

[R]11:25 AM New York – Comcast fourth quarter net increased 26% to $1.29 billion. Deere & Co. first quarter net increased 4% to $533 million. Kellogg agreed to acquire Pringles business of P&G for $2.7 billion. MetLife fourth quarter net surged to $1.13 billion.[/R]

Abercrombie & Fitch Co. ((ANF)) increased 10.2% or $4.57 to $49.16 after the specialty retailer reported fourth quarter net sales increased 16% to $1.33 billion from $1.15 billion in the same quarter last year. Total comparable store sales for the quarter were flat from last year. Net income in the quarter declined to $19.6 million or 22 cents per diluted share compared to $92.6 million or $1.03 per diluted share in the year ago earlier.

For 2011 total revenue increased 20% to $4.16 billion from $3.47 billion in last year. Total comparable store sales for the year rose 5% to last year. Net income for the year decreased to $127.7 million or $1.42 per diluted share compared to $150.3 million or $1.67 per share in the prior year.

Comcast Corporation ((CMCSA)) gained 5.5% or $1.50 to $28.75 after the cable network operator reported fourth quarter total revenue soared 55% to $15.0 billion from $9.7 billion in the same quarter last year. Net income in the quarter increased 26% to $1.29 billion or 47 cents per diluted share compared to $1.02 billion or 36 cents per diluted share in the year ago.

For 2011 total revenue surged 47% to $55.8 billion from $37.9 billion in last year. Net income for the year increased 14% to $4.16 billion or $1.50 per diluted share compared to $3.64 billion or $1.29 per share in the prior year.

Cimarex Energy Co. ((XEC)) soared 11.2% or $7.71 to $76.49 after the oil and gas explorer reported fourth quarter total revenue grew 6% to $430.3 million from $408 million in the same quarter last year. Net income in the quarter was flat at $116.9 million or $1.36 per diluted share compared to $117.6 million or $1.37 per diluted share in the year ago quarter.

Deere & Company ((DE)) decreased 3.1% or $2.79 to $86.26 after the agriculture machinery maker reported first quarter net sales increased 11% to $6.77 billion from $6.12 billion in the same quarter last year. Net income in the quarter increased 4% to $533 million or $1.30 per diluted share compared to $514 million or $1.20 per diluted share in the year ago.

Hospira, Inc. ((HSP)) rose 35 cents to $36.65 after the pharmaceutical company reported fourth quarter net sales rose 2% to $1.01 billion from $0.99 billion in the same quarter last year. Net loss in the quarter swung to $214 million or $1.30 a diluted share compared to net income of $60.6 million or 36 cents a diluted share in the year ago period.

Kellogg Company ((K)) increased 4.1% or $2.08 to $52.38 after the food processing company agreed to acquire Procter & Gamble''s Pringles business for $2.7 billion. Pringles had annual global sales of $1.5 billion across more than 140 countries. The companies expect to complete the transaction by this summer.

MetLife, Inc. ((MET)) increased 2.4% or 91 cents to $38.23 after the insurance company reported fourth quarter total revenue increased 19% to $16.7 billion from $12.7 billion in the same quarter last year. Net income in the quarter surged to $1.13 billion or $1.06 a diluted share compared to $0.51 billion or 5 cents per diluted share in the year ago.

For 2011 total revenue increased 27% to $70.3 billion from $52.3 billion in last year. Net income for the year increased to $6.71 billion or $6.29 per diluted share compared to $2.67 billion or $3.00 per share in the prior year.

Michael Kors Holdings Limited increased 4.6% or $1.97 to $44.82 after apparel and accessories maker reported third quarter total revenue soared 68% to $373.6 million from $222.5 million in the same quarter last year. Net income in the quarter increased to $32 million or 20 cents per diluted share compared to $21.8 million or 16 cents per diluted share in the year ago earlier.

Scana Corporation ((SCG)) decreased 1.8% or 85 cents to $44.15 after the electric transmission company reported fourth quarter total revenue fell to $1.04 billion from $1.15 billion in the same quarter last year. Net income in the quarter rose to $98 million or 75 cents per diluted share compared to $94 million or 74 cents per diluted share in the year ago quarter.

Zynga Inc. ((ZNGA)) dropped 10.4% or $1.50 to $12.85 after the social media games developer reported fourth quarter total revenue grew 59% to $311.2 million from $195.8 million in the same quarter last year. Net loss in the quarter swung to $435.0 million or $1.22 per diluted share compared to net income of $43.0 million or 5 cents a diluted share in the year ago period.