U.S. Movers: Aetna, Chrysler, Colgate, Dow Chemical, PepsiCo, Time Warner

Mukesh Buch
26 Apr, 2012
New York City

Aetna first quarter net slipped 13% to $511 million and Bristol-Myers net increased 12% to $1.1 billion. Chrysler first quarter net quadrupled to $473 million. Colgate first quarter net rose 3% on sales rise. Dow Chemical first quarter net declined 30% on weak demand. PepsiCo net fell.

[R]11:25 AM New York – Aetna first quarter net slipped 13% to $511 million and Bristol-Myers net increased 12% to $1.1 billion. Chrysler first quarter net quadrupled to $473 million. Colgate first quarter net rose 3% on sales rise. Dow Chemical first quarter net declined 30% on weak demand. PepsiCo net fell.[/R]

Aetna Inc. ((AET)) declined 11.6% or $5.73 to $43.69 after the healthcare insurance company reported first quarter revenue rose 6% to $8.86 billion from $8.35 billion in the same quarter last year. Net income in the quarter slipped 13% to $511 million or $1.43 per diluted share compared to $586 million or $1.50 per share in the year ago earlier.

Aetna projected operating earnings per share of approximately $5 and revenue growth of 6%.

Bristol-Myers Squibb Company ((BMY)) fell 30 cents to $33.99 after the biopharmaceutical company reported first quarter net sales grew 5% to $5.25 billion from $5.01 billion in the same quarter last year. Net income in the quarter increased 12% to $1.1 billion or 64 cents per diluted share compared to $986 million or 57 cents per share in the year ago.

The company confirm 2012 earnings guidance range of $1.90 to $2.00.

CME Group Inc. ((CME)) decreased 1.4% or $3.89 to $269.25 after the investment company reported first quarter total revenues decreased 7% to $774.6 million from $831.6 million in the same quarter last year. Net earnings in the quarter dropped 42% to $266.6 million or $4.02 per diluted share compared to $456.6 million or $6.81 per share in the year ago period.

Chrysler Group LLC, the car maker reported first quarter net revenue soared 25% to $16.4 billion from $13.1 billion in the same quarter last year. Net income in the quarter more then quadrupled to $473 million compared to $116 million in the year ago.

Worldwide unit sales surged 33% to 523,000 from 394,000 from a year ago quarter. US retail sales were increased 40%.

Colgate-Palmolive Company ((CL)) fell 98 cents to $98.60 after the consumer products maker reported first quarter net sales rose 5% to $4.2 billion from $4.0 billion in the same quarter last year. Net income in the quarter gained 3% to $593 million or $1.23 per diluted share compared to $576 million or $1.16 per share in the year ago.

Exxon Mobil Corporation ((XOM)) slipped 1.7% or $1.49 to $85.36 after the petrochemical company reported first quarter total revenues increased 9% to $124.1 billion from $114.0 billion in the same quarter last year. Net income in the quarter slumped 11% to $9.45 billion or $2.00 per diluted share compared to $10.65 billion or $2.14 per share in the year ago.

Goodrich Corporation ((GR)) raised 10 cents to $125.40 the aerospace components supplier reported first quarter sales grew 14% to $2.15 billion from $1.90 billion in the same quarter last year. Net income in the quarter fell 3% to $188.2 million or $1.46 per diluted share compared to $194.8 million or $1.52 per share in the year ago quarter.

The company noted the merger with United Technologies on March 13, and expected to close in mid 2012 as shareholders had already approved it.

Kellogg Company ((K)) fell 22 cents to $50.27 after the ready-to-eat foods maker first quarter net sales fell 1.3% to $3.44 billion from $3.48 billion in the same quarter last year. Net income in the quarter slipped 2.2% to $358 million or $1.00 per diluted share compared to $366 million or $1.00 per share in the year ago period.

Moody’s Corporation ((MCO)) rose 3 cents to $42.00 after the credit rating agency reported first quarter revenue increased 12% to $646.8 million from $577.1 million in the same quarter last year. Net earnings in the quarter increased 12% to $173.5 million or 76 cents per diluted share compared to $155.5 million or 67 cents per share in the year ago earlier.

Occidental Petroleum Corporation ((OXY)) fell 35 cents to $89.76 after the oil and gas company reported first quarter net sales grew 9% to $6.27 billion from $5.73 billion in the same quarter last year. Net income in the quarter edged up to $1.56 billion or $1.92 per diluted share compared to $1.55 billion or $1.90 per share in the year ago period.

PepsiCo, Inc. ((PEP)) slipped 19 cents to $66.48 after the food and beverage company reported first quarter net revenue rose 4% to $12.43 billion from $11.94 billion in the same quarter last year. Net income in the quarter fell 1% to $1.13 billion or 71 cents per diluted share compared to $1.14 billion or 71 cents per share in the year ago.

The company expects decline in core constant currency earnings of approximately 5% from its last year core earnings of $4.40.

Raytheon Company ((RTN)) gained 2.1% or $1.13 to $54.04 after the technology company reported first quarter net sales fell 2% to $5.94 billion from $6.05 billion in the same quarter last year. Net income in the quarter rose 18% to $448 million or $1.33 per diluted share compared to $384 million or $1.07 per share in the year ago quarter.

The Dow Chemical Company ((DOW)) decreased 3% or $1.09 to $34.99 after the diversified manufacturer reported first quarter net sales nearly flat to $14.72 billion from $14.73 billion in the same quarter last year. Net income in the quarter declined 30% to $412 million or 35 cents per diluted share compared to $625 million or 54 cents per share in the year ago.

Time Warner Cable Inc. ((TWC)) dropped 3.3% or $2.75 to $79.40 after the video and broadband service provider reported first quarter revenues rose 6.4% to $5.13 billion from $4.83 billion in the same quarter last year. Net income in the quarter increased 17.5% to $382 million or $1.20 per diluted share compared to $325 million or 93 cents per share in the year ago earlier.

United Parcel Service, Inc. ((UPS)) declined 3.4% or $2.73 to $76.92 after the air courier service provider reported first quarter revenue increased 4.4% to $13.14 billion from $12.58 billion in the same quarter last year. Net income in the quarter rose 6% to $970 million or $1.00 per diluted share compared to $915 million or 91 cents per share in the year ago.