U.S. Movers: GE, Honeywell, Kimberly-Clark, McDonald

Mukesh Buch
20 Apr, 2012
New York City

General Electric first quarter net declined 12% to $3.03 billion and Honeywell first quarter net soared 17% to $823 million. Ingersoll-Rand first quarter net swung to $95.6 million profit. McDonald

[R]11:50 AM New York – General Electric first quarter net declined 12% to $3.03 billion and Honeywell first quarter net soared 17% to $823 million. Ingersoll-Rand first quarter net swung to $95.6 million profit. McDonald’s first quarter net rose 5% to $1.27 billion. Microsoft third quarter net fell to $5.1 billion.[/R]

American Electric Power Company, Inc. ((AEP)) rose 24 cents to $38.13 after the holding company reported first quarter revenues fell 3% to $3.62 billion from $3.73 billion in the same quarter last year. Net income in the quarter increased 10% to $389 million or 80 cents per diluted share compared to $353 million or 73 cents per share in the year ago earlier.

Altera Corporation ((ALTR)) dropped 6.4% or $2.49 to $36.01 after the semiconductor maker reported first quarter sales declined 28% to $383.8 million from $535.8 million in the prior year. Net income in the quarter tumbled 48% to $115.8 million or 35 cents per share compared to $224.1 million or 68 cents per share in the prior year.

Capital One Financial Corporation ((COF)) increased 1.1% or 61 cents to $54.54 after the financial service provider reported first quarter revenues surged 23% to $4.93 billion from $4.01 billion in the same quarter last year. Net income in the quarter soared 39% to $1.40 billion or $2.72 per diluted share compared to $1.01 billion or $2.21 per share in the year ago period.

General Electric Company ((GE)) increased 1.8% or 36 cents to $19.50 after the diversified technology reported first quarter total revenue slumped 8% to $35.2 billion from $38.3 billion in the same quarter last year. Net income in the quarter declined 12% to $3.03 billion or 29 cents per diluted share compared to $3.43 billion or 32 cents per share in the year ago.

GE said first quarter infrastructure orders soared 20% to record $23.1 billion equipment orders surged 29%, services orders increased 11%, organic orders jumped 14% and industrial segment orders increased 21%.

Honeywell International Inc. ((HON)) gained 3.4% or $1.98 to $59.98 after the aerospace products maker reported first quarter sales rose 7% to $9.31 billion from $8.67 billion in the same quarter last year. Net income in the quarter soared 17% to $823 million or $1.04 per diluted share compared to $705 million or 88 cents per share in the year ago.

The company lifted full year sales outlook in the range of $38 billion to $38.6 billion and earnings per diluted share in the range of $4.35 to $4.55.

Ingersoll-Rand plc ((IR)) increased 2.5% or $1.02 to $41.16 after the Ireland based diversified company revenues dropped 4% to $3.15 billion from $3.27 billion in the same quarter last year. Net earnings in the quarter swung to $95.6 million or 31 cents per diluted share compared to net loss of $77.6 million or 23 cents per share in the year ago period.

Second quarter revenues are expected to be in the range of $3.8 billion to $3.9 billion and for the full year revenues are in the range of $14.0 billion to $14.4 billion and earnings from continuing operations expected to be in the range of $2.90 to $3.10.

Johnson Controls, Inc. ((JCI)) fell 4 cents to $32.31 after the automotive provider reported second quarter net sales grew 4% to $10.6 billion from $10.1 billion in the same quarter last year. Net income in the quarter soared 17% to $364 million or 53 cents per diluted share compared to $354 million or 51 cents per share in the year ago.

The company expects third quarter earnings to increase about 20% and fourth quarter earnings to increase nearly 25% from the prior year period.

Kimberly-Clark Corporation ((KMB)) increased 2.1% or $1.60 to $76.87 after the synthetic fiber products maker reported first quarter sales rose 4% to $5.24 billion from $5.03 billion in the same quarter last year. Net income in the quarter surged 34% to $468 million or $1.18 per diluted share compared to $350 million or 86 cents per share in the year ago.

The company reconfirmed guidance for full year that were previously communicated in its January 24.

McDonald’s Corporation ((MCD)) rose 2.1% or $2.02 to $97.30 after the restaurant operator reported first quarter revenues grew 7% to $6.54 billion from $6.11 billion in the same quarter last year. Global comparable sales increased 7.3%. Net income in the quarter increased 5% to $1.27 billion or $1.23 per diluted share compared to $1.21 billion or $1.15 per share in the year ago earlier.

The company expects global comparable sales growth in April to be about 4%.

Microsoft Corporation ((MSFT)) advanced 5.4% or $1.69 to $32.70 after the software products maker reported third quarter sales rose 4% to rose 6% to $17.41 billion from $16.43 billion in the same quarter last year. Net income in the quarter fell 2.3% to $5.11 billion or 60 cents per diluted share compared to $5.23 billion or 61 cents per share in the year ago.

Microsoft revised lowered operating expense guidance for the full year and now expects in the range of $28.3 billion to $28.7 billion.

Schlumberger Limited ((SLB)) increased 4.2% or $2.96 to $72.76 after the exploration services provider maker reported first quarter revenue surged 22% to $10.61 billion from $8.72 billion in the same quarter last year. Net income in the quarter surged 38% to $1.30 billion or 97 cents per diluted share compared to $944 million or 69 cents per share in the year ago earlier.

SanDisk Corporation ((SNDK)) declined 13.6% or $5.54 to $34.93 after the data storage solution provider reported first quarter revenue fell 7% to $1.21 billion from $1.29 billion in the same quarter last year. Net income in the quarter tumbled 49% to $114 million or 46 cents per diluted share compared to $224 million or 92 cents per share in the year ago period.