U.S. Movers: Apple, Caterpillar, General Dynamics, Coca-Cola, Boeing

Mukesh Buch
25 Apr, 2012
New York City

Apple second quarter net surged 94% on strong sales of iPhones and iPad and sales in China tripled from a year ago. Caterpillar first quarter net soared 29% and raised profit outlook. Boeing first quarter net soared 58% to $923 million and lifted 2012 view. Coca-Cola planed stock split of 2-for-1.

[R]11:25 AM New York – Apple second quarter net surged 94% on strong sales of iPhones and iPad and sales in China tripled from a year ago. Caterpillar first quarter net soared 29% and raised profit outlook. Boeing first quarter net soared 58% to $923 million and lifted 2012 view. Coca-Cola planed stock split of 2-for-1.[/R]

Apple Inc. ((AAPL)) increased 9% or $50.45 to $610.68 after the PC and media devices maker reported second quarter revenue soared 59% to $39.19 billion from $24.67 billion in the prior year. Net income in the quarter surged 94% to $11.62 billion or $12.30 per share compared to $5.99 billion or $6.40 per share in the year ago period.

The company sold 35.1 million iPhones in the quarter, representing 88% unit growth over the year-ago quarter largely on the sales increase in China. Revenues in China accounted for 20% of the total sales and jumped to 20% from 12% in the entire last year and 2% only two years ago.

Apple sold 11.8 million iPads during the quarter, a 151% unit increase over the year-ago quarter. Apple guided revenues of $34 billion in the current quarter and $8.68 earnings a share.

Apple also said its cash soared to $110 billion and plans to issue cash dividend and share buybacks.

Caterpillar Inc. ((CAT)) slipped 3.4% or $3.74 to $104.66 after the construction and mining equipments maker reported first quarter sales and revenues soared 23% to $15.98 billion from $12.95 billion in the same quarter last year. Net income in the quarter surged 29% to $1.59 billion or $2.37 per diluted share compared to $1.22 billion or $1.84 per share in the year ago earlier.

Caterpillar raised profit outlook for 2012 and now expects to be about $9.50 from previous outlook of $9.25 and also reaffirms sales and revenues outlook in the range of $68 to $72 billion.

Eli Lilly and Company ((LLY)) rose 1% or 40 cents to $40.36 after the pharmaceutical company reported first quarter total revenue fell 4% to $5.60 billion from $5.84 billion in the same quarter last year. Net income in the quarter slipped 4% to $1.01 billion or 91 cents per diluted share compared to $1.06 billion or 95 cents per share in the year ago.

Sales in China surged 41%. Sales of Zyprexa declined 56% to $562.7 million due to patent loss in US and most of international markets. Its also expects further erosion throughout in 2012.

The company also raised 2012 earnings guidance and now expects to a range between $3.14 and $3.29.

General Dynamics Corporation ((GD)) decreased 2.4% or $1.72 to $68.34 after the aerospace and defense products maker reported first quarter sales and revenues fell 2.8% to $7.6 billion from $7.8 billion in the same quarter last year. Net earnings in the quarter slipped 9% to $564 million or $1.57 per diluted share compared to $618 million or $1.66 per share in the year ago period.

The company affirms full year earnings guidance.

Harley-Davidson, Inc. ((HOG)) gained 4.7% or $2.41 to $52.77 after the heavyweight motorcycle reported first quarter revenue grew 20% to $1.27 billion from $1.06 billion in the same quarter last year. Net income in the quarter soared 44% to $172.0 million or 74 cents per diluted share compared to $119.3 million or 51 cents per share in the year ago earlier.

Hess Corporation ((HES)) dropped 6.3% or $3.49 to $51.55 after the energy company reported first quarter revenue slumped 7.3% to $9.75 billion from $10.52 billion in the same quarter last year. Net income in the quarter dropped 41% to $545 million or $1.60 per diluted share compared to $929 million or $2.74 per share in the year ago earlier.

Lorillard, Inc. ((LO)) decreased 3.6% or $4.88 to $129.94 after the cigarette maker reported first quarter net sales fell 1% to $1.53 billion from $1.54 billion in the same quarter last year. Net income in the quarter slumped 10% to $223 million or $1.70 per diluted share compared to $248 million or $1.71 per share in the year ago.

Lorillard also announced today it has acquired all assets of blu ecigs, a U.S. electronic cigarette company for $135 million in cash.

Motorola Solutions, Inc. ((MSI)) advanced 5.8% or $2.82 to $51.48 after the communication infrastructure maker reported first quarter total sales rose 7% to $1.96 billion from $1.83 billion in the same quarter last year. Net income in the quarter tumbled 68% to $157 million or 50 cents per diluted share compared to $497 million or $1.07 per share in the year ago quarter.

The company’s GAAP operating earnings soared 37% to $232 million from $169 million from a year ago quarter.

The Coca-Cola Company ((KO)) increased 1% or 74 cents to $74.86 after the beverage maker said today management has voted for the 2-for-1 split. The split would be the 11th in the stock''s 92 year of its history and the first in last 16 years. Aiming increase the number of authorized shares of the common stock from 5.6 billion to 11.2 billion. The new shares are expected to be distributed on or about Aug. 10.

The Boeing Company ((BA)) increased 4% or $2.97 to $76.18 after the aerospace company reported first quarter revenues surged 30% to $19.38 billion from $14.91 billion in the same quarter last year. Net income in the quarter soared 58% to $923 million or $1.22 per diluted share compared to $586 million or 78 cents per share in the year ago.

Boeing lifted earnings per share guidance for 2012 in the range of $4.15 to $4.35 as company’s backlog increased to a record $380 billion, including new orders of $42 billion.