U.S. Movers: 3M, AT&T, Coach, Facebook, McGraw-Hill, T. Rowe, Western Union

Mukesh Buch
24 Apr, 2012
New York City

3M first quarter net increased 4% to $1.12 billion. AT&T first quarter net increased 5.2% to $3.58 billion. Coach third quarter net soared 21% as China sales grew 60%. Facebook first quarter net declined 12% to $205 million. Illinois Tool first quarter net declined 22% to $486 million.

[R]4:00 PM New York – 3M first quarter net increased 4% to $1.12 billion. AT&T first quarter net increased 5.2% to $3.58 billion. Coach third quarter net soared 21% as China sales grew 60%. Facebook first quarter net declined 12% to $205 million. Illinois Tool first quarter net declined 22% to $486 million.[/R]

3M Company ((MMM)) increased 2% or $1.75 to $88.88 after the diversified company reported first quarter sales rose 2.4% to $7.5 billion from $7.3 billion in the same quarter last year. Net income in the quarter increased 4% to $1.12 billion or $1.59 per diluted share compared to $1.08 billion or $1.49 per share in the year ago earlier.

The company expects full year earnings to be in the range of $6.35 to $6.50 per share.

AT&T Inc ((T)) gained 3.9% or $1.22 to $31.83 after the telecommunication service provider reported first quarter revenues rose 1.8% to $31.82 billion from $31.25 billion in the same quarter last year. Net income in the quarter increased 5.2% to $3.58 billion or 60 cents per diluted share compared to $3.41 billion or 57 cents per share in the year ago.

Smartphone sales rose 30% and exceed the previous first quarter record.

Air Products and Chemicals, Inc. ((APD)) decreased 3.3% or $2.96 to $85.77 after the gas processor reported second quarter revenue fell 2% to $2.34 billion from $2.40 billion in the prior year. Net income in the quarter slipped 2.7% to $296.0 million or $1.38 per share compared to $304.3 million or $1.39 per share in the year ago period.

Alexion Pharmaceuticals, Inc. ((ALXN)) slipped 1.7% or $1.63 to $90.31 after the biopharmaceutical reported first quarter revenue surged 47% to $244.7 million from $166.1 million in the prior year. Net income in the quarter soared 69% to $45.4 million or 23 cents per share compared to $26.8 million or 14 cents per share in the prior year.

Alexion raised 2012 revenue guidance to a range between $1.065 and $1.085 billion from previous range of $1.04 to $1.07 billion.

Baker Hughes Inc ((BHI)) advanced 6.8% or $2.81 to $43.88 after the oilfield service provider reported first quarter revenue increased 16% to $5.36 billion from $4.53 billion in the same quarter last year. Net income in the quarter fell 1% to $379 million or 86 cents per diluted share compared to $381 million or 87 cents per share in the year ago quarter.

Coach, Inc. ((COH)) slumped 3.1% or $2.38 to $72.74 after the leather bags and accessories marketer reported third quarter sales grew 11% to $1.11 billion from $951 million in the prior year. Net income in the quarter soared 21% to $225 million or 77 cents per share compared to $186 million or 62 cents per share in the year ago.

Sales in China soared 60% and direct-to-consumer sales increased 18% to $984 million.

Facebook, Inc., the social networking service that expects to list its stock in a month said first quarter total revenue rose 45% to $1.06 billion from $731 million in the same quarter last year. Net income in the quarter declined 12% to $205 million or 9 cents per share compared to net income of $233 million or 11 cents per share in the prior year quarter.

Facebook had 901 million monthly active users as if March 31, 2012, up 33% from the quarter a year ago.

Illinois Tool Works Inc. ((ITW)) gained 2.3% or $1.32 to $56.54 after the industrial products maker first quarter total revenue increased 6.4% to $4.55 billion from $4.27 billion in the same quarter last year. Net income in the quarter declined 22% to $486 million or 97 cents per diluted share compared to $623 million or $1.21 per share in the year ago earlier.

The Company raise forecast for 2012 guidance to be in the range of $4.14 to $4.38 versus the prior forecasted range of $4.02 to $4.26 and revenue growth to be in the range of 5% to 7%.

Parker-Hannifin Corporation ((PH)) soared 6.5% or $5.33 to $86.27 after the diversified technology company reported third quarter net sales grew 4.7% to $3.40 billion from $3.24 billion in the same quarter last year. Net income in the quarter increased 11% to $312.7 million or $2.01 per diluted share compared to $279.6 million or $1.68 per share in the year ago.

Parker-Hannifin today agreed to acquire UK based Olaer Group. However, terms of the transaction were not disclosed.

RadioShack Corporation ((RSH)) dropped 6.8% or 41 cents to $5.56 after the consumer electronics retailer said first quarter net sales and operating revenues declined 0.9% to $1.01 billion compared to $1.02 billion for the 2011 first quarter. Net loss in the quarter swung to $8 million or 8 cents per diluted share compared to net income of $35.1 million or 33 cents per share last year.

The McGraw-Hill Companies, Inc. ((MHP)) fell 39 cents to $48.71 after the book publisher reported first quarter revenue grew 6% to $1.33 billion from $1.26 billion in the same quarter last year. Net income in the quarter rose 3% to $123 million or 43 cents per diluted share compared to $120 million or 39 cents per share in the year ago.

The Western Union Company ((WU)) rose 10 cents to $18.05 after the payment service provider reported first quarter revenue grew 4% to $1.04 billion from $998 million in the same quarter last year. Net income in the quarter soared 18% to $247.3 million or 40 cents per diluted share compared to $210.2 million or 32 cents per share in the year ago period.

T. Rowe Price Group, Inc ((TROW)) increased 1.5% or 95 cents to $61.96 after the investment manager reported first quarter net revenues rose 6.8% to $728.7 million from $682.4 million in the same quarter last year. Net income in the quarter edged up 1.4% to $196.5 million or 75 cents per diluted share compared to $193.8 million or 72 cents per share in the year ago.

The Hershey Company ((HSY)) surged 7.3% or $4.56 to $66.85 after the candy maker reported first quarter net sales advanced 10.7% to $1.73 billion from $1.56 billion in the same quarter last year. Net income in the quarter climbed 24% to $198.65 million 87 cents per diluted share compared to net income of $160.12 million or 70 cents per share in the prior-year quarter.

United Technologies Corporation ((UTX)) increased 1.1% or 97 cents to $80.72 after the aerospace service provider reported first quarter sales fell 2% to $12.42 billion from $12.68 billion in the same quarter last year. Net income in the quarter surged 24% to $1.2 billion or $1.31 per diluted share compared to $967 million or $1.06 per share in the year ago.