U.S. Movers: Apache, ABB, Devon Energy, GM, NetApp, J. M. Smucker

Mukesh Buch
16 Feb, 2012
New York City

[R][[11:25 AM New York

[R]11:25 AM New York – Apache fourth quarter net surged to $1.17 billion. ABB fourth quarter net increased 19% to $830 million. Devon Energy fourth quarter net declined to $507 million. General Motors fourth quarter net was flat at $500 million. V.F. Corp. fourth quarter net surged to $257.3 million.[/R]

Apache Corporation ((APA)) decreased 1.8% or $2.02 to $105.65 after the energy company reported fourth quarter net sales increased to $4.30 billion from $3.43 billion in the same quarter last year. Net income in the quarter surged to $1.17 billion or $2.98 per diluted share compared to $0.67 billion or $1.77 per diluted share in the year ago earlier.

For 2011 total revenue increased to $16.9 billion from $12.1 billion in last year. Net income for the year soared to $4.5 billion or $11.47 per diluted share compared to $3.0 billion or $8.46 per share in the prior year.

ABB Ltd. ((ABB)) dropped 4.8% or $1.05 to $20.62 after the Switzerland based power and automation company reported fourth quarter net sales increased 15% to $10.6 billion from $9.2 billion in the same quarter last year. Net income in the quarter increased 19% to $830 million or 36 cents per diluted share compared to $700 million or 31 cents per diluted share in the year ago.

For 2011 total revenue increased 20% to $38.0 billion from $31.6 billion in last year. Net income for the year soared 24% to $3.17 billion or $1.38 per diluted share compared to $2.56 billion or $1.12 per share in the prior year.

Agilent Technologies, Inc. ((A)) slipped 3.6% or $1.59 to $42.05 after the electronic measurement provider reported first quarter net revenue rose 8% to $1.64 billion from $1.52 billion in the same quarter last year. Net income in the quarter increased 19% to $230 million or 65 cents per diluted share compared to $193 million or 54 cents per diluted share in the year ago earlier.

CBS Corporation ((CBS)) fell 35 cents to $29.22 after the broadcasting company reported fourth quarter total revenues fell to $3.78 billion from $3.90 billion in the same quarter last year. Net earnings in the quarter increased to $370 million or 55 cents per diluted share compared to $283 million or 41 cents per diluted share in the year ago.

For 2011 total revenue increased to $14.25 billion from $14.06 billion in last year. Net earnings for the year soared to $1.31 billion or $1.92 per diluted share compared to $0.72 billion or $1.04 per share in the prior year.

CF Industries Holdings, Inc. ((CF)) decreased 2.4% or $4.33 to $174.85 after the fertilizer products maker reported fourth quarter net sales increased to $1.72 billion from $1.24 billion in the same quarter last year. Net earnings in the quarter surged to $438.9 million or $6.66 per diluted share compared to $200.3 million or $2.78 per diluted share in the year ago period.

For 2011 total revenue increased to $6.10 billion from $3.97 billion in last year. Net earnings for the year surged to $1.54 billion or $21.98 per diluted share compared to $0.35 billion or $5.34 per share in the prior year.

Cliffs Natural Resources Inc. ((CLF)) decreased 3.1% or $2.18 to $66.50 after the mining company reported fourth quarter revenues increased 17% to $1.66 billion from $1.42 billion in the same quarter last year. Net income in the quarter slumped 52% to $185.4 million or $1.30 per diluted share compared to $384.1 million or $2.82 per diluted share in the year ago quarter.

Duke Energy Corporation ((DUK)) increased 1% or 22 cents to $21.09 after the energy company reported fourth quarter revenues fell to $3.37 billion from $3.44 billion in the same quarter last year. Net income in the quarter declined to $288 million or 22 cents per diluted share compared to $427 million or 32 cents per diluted share in the year ago quarter.

For 2011 total revenue increased to $14.53 billion from $14.28 billion in last year. Net income for the year soared to $1.71 billion or $1.28 per diluted share compared to $1.32 billion or $1.00 per share in the prior year.

Devon Energy Corporation ((DVN)) decreased 2% or $1.49 to $73.19 after the energy company reported fourth quarter net sales grew to $2.59 billion from $2.14 billion in the same quarter last year. Net income in the quarter declined to $507 million or $1.25 per diluted share compared to $562 million or $1.29 per diluted share in the year ago earlier.

For 2011 total revenue increased to $11.45 billion from $9.94 billion in last year. Net income for the year increased to $4.70 billion or $11.25 per diluted share compared to $4.55 billion or $10.31 per share in the prior year.

General Motors Company ((GM)) gained 4% or $1.02 to $25.95 after the automotive company reported fourth quarter net sales rose 3% to $38.0 billion from $36.9 billion in the same quarter last year. Net income in the quarter flat to $500 million or 28 cents per diluted share compared to $500 million or 31 cents per diluted share in the year ago.

For 2011 total revenue increased 11% to $150.3 billion from $135.6 billion in last year. Net income for the year increased to $7.6 billion or $4.58 per diluted share compared to $4.7 billion or $2.89 per share in the prior year.

NetApp, Inc. ((NTAP)) increased 6.4% or $2.59 to $42.47 after the data storage solution provider reported third quarter net revenues increased to $1.56 billion from $1.29 billion in the same quarter last year. Net income in the quarter dropped to $119.6 million or 32 cents per diluted share compared to $186.4 million or 46 cents per diluted share in the year ago period.

The J. M. Smucker Company ((SJM)) dropped 9.1% or $7.11 to $71.04 after the food processing company reported third quarter net sales increased 12% to $1.47 billion from $1.31 billion in the same quarter last year. Net income in the quarter dropped 11% to $116.8 million or $1.03 per diluted share compared to $132.0 million or $1.11 per diluted share in the year ago quarter.

V.F. Corporation ((VFC)) increased 2.8% or $4.05 to $147.30 after the apparel maker reported fourth quarter total revenues soared 37% to $2.91 billion from $2.13 billion in the same quarter last year. Net income in the quarter surged to $257.3 million or $2.28 per diluted share compared to $54.2 million or $0.49 per diluted share in the year ago earlier.