U.S. Movers: IBM, J&J, Goldman Sachs, Coca-Cola, W.W. Grainger

Mukesh Buch
17 Apr, 2012
New York City

IBM agreed to sell its point-of-sale business to Toshiba Tec for $850 Mn. J&J first quarter net soared 12.5% to $3.9 billion and raise fiscal earnings per share outlook. Goldman Sachs first quarter net surged 128% to $2.1 billion. W.W. Grainger, Inc. first quarter net soared 19% and raises outlook.

[R]11:40 PM New York – IBM agreed to sell its point-of-sale business to Toshiba Tec for $850 Million. J&J first quarter net soared 12.5% to $3.91 billion and raise fiscal earnings per share outlook. Goldman Sachs first quarter net surged 128% to $2.1 billion. W.W. Grainger, Inc. first quarter net soared 19% and raises fiscal 2012 guidance.[/R]

Comerica Inc ((CMA)) gained 3.9% or $1.22 to $32.08 after the financial service provider reported first quarter net interest income increased 2.2% to $443 million from $395 million in the same quarter last year. Net income in the quarter soared 36% to $129 million or 66 cents per diluted share compared to $102 million or 57 cents per share in the year ago earlier.

Forest Laboratories, Inc. ((FRX)) advanced 3.7% or $1.25 to $34.89 after the biotechnology and drugs maker said fourth quarter net sales decreased 8.7% to $1.05 billion from $1.14 billion last year. Net income in the quarter declined 40% to $192.7 million or 72 cents per diluted share compared to $322.5 million or $1.12 per share a year earlier. Net declined as patent protection for Lexapro expired on March 14.

Revenue for the full year 2010 grew 3.8% to $4.6 billion from $4.4 billion a year ago. Net income in the year was decreased 6.5% to $979.1 million or $3.57 per diluted share compared to $1.0 billion or $3.59 per share in the prior year.

International Business Machines Corporation ((IBM)) increased 1.5% or $3.20 to $205.92 after the information technology said Japan based Toshiba TEC Corporation, a maker of point-of-sale systems will acquire IBM''s Retail Store Solutions business with purchase price of approx $850 million or 68 billion yen.

Johnson & Johnson ((JNJ)) fell 12 cents to $63.86 after the holding company reported first quarter revenue edged down 0.2% to $16.14 billion from $16.17 billion in the same quarter last year. Net earnings in the quarter soared 12.5% to $3.91 billion or $1.41 per diluted share compared to $3.48 billion or $1.25 per share in the year ago.

Worldwide consumer sales decrease of 2.4% to $3.6 billion for the first quarter and Domestic sales declined 5.1%. The company also updated earnings guidance for fiscal 2012 to a range between $5.07 and $5.17 per share.

Northern Trust Corporation ((NTRS)) rose 89 cents to $47.05 after the financial holding company first quarter net interest income increased 8% to $965.4 million from $897.9 million in the same quarter last year. Net income in the quarter increased 7% to $161.2 million or 66 cents per diluted share compared to $151.0 million or 61 cents per share in the year ago earlier.

State Street Corporation ((STT)) rose 1.1% or 50 cents to $44.18 after the financial holding company reported first quarter revenue rose 3% to $2.42 billion from $2.36 billion in the same quarter last year. Net earnings in the quarter slumped 9% to $427 million or 85 cents per diluted share compared to $471 million or 93 cents per share in the year ago.

The Goldman Sachs Group, Inc ((GS)) fell 27 cents to $117.46 after the investment bank reported first quarter revenue dropped 16% to $9.95 billion from $11.89 billion in the same quarter last year. Net earnings in the quarter surged 128% to $2.1 billion or $3.92 per diluted share compared to $908 million or $1.56 per share in the year ago.

The Coca-Cola Company ((KO)) gained 2.5% or $1.87 to $74.31 after the beverage maker reported first quarter revenue grew 6% to $11.1 billion from $10.5 billion in the same quarter last year. Net income in the quarter rose 8% to $2.05 billion or 89 cents per diluted share compared to $1.90 billion or 82 cents per share in the year ago.

TD Ameritrade Holding Corporation ((AMTD)) rose 8 cents to $18.86 after the brokerage service provider second quarter net interest income fell to $673.1 million from $718.2 million in the same quarter last year. Net income in the quarter declined 20% to $136.7 million or 2 cents per diluted share compared to $171.7 million or 30 cents per share in the year ago earlier.

U.S. Bancorp ((USB)) rose 14 cents to $31.30 after the financial holding company reported first quarter net interest income rose 7.3% to $3.23 billion from $3.10 billion in the same quarter last year. Net income in the quarter surged 28% to $1.34 billion or 67 cents per diluted share compared to $1.05 billion or 52 cents per share in the year ago.

Net increased mainly due to year-over-year growth in total net revenue and lower provision for credit losses and strong new lending activity of $56 billion during the first quarter.

W.W. Grainger, Inc. ((GWW)) declined 1.9% or $4.12 to $211.47 after the maintenance distributor reported first quarter sales increased 16% to $2.2 billion from $1.9 billion in the same quarter last year. Net earnings in the quarter soared 19% to $188 million or $2.57 per diluted share compared to $158 million or $2.18 per share in the year ago.

Grainger revised fiscal 2012 guidance for sales to increase between 12% and 14% and earnings per share between $10.40 and $10.80.