U.S. Movers: Archer-Daniels, Avon, Biogen, Cummins, ConocoPhillips, Pfizer

Mukesh Buch
01 May, 2012
New York City

Archer-Daniels third quarter net declined 31% to $399 million. Avon first quarter net tumbled 82% on sales fall. Cummins first quarter net surged 33% to $455 million. Pfizer first quarter net dropped 19% to $1.79 billion and Thomson Reuters climbed 25.6% to $314 million.

[R]11:25 AM New York – Archer-Daniels third quarter net declined 31% to $399 million. Avon first quarter net tumbled 82% on sales fall. Cummins first quarter net surged 33% to $455 million. Pfizer first quarter net dropped 19% to $1.79 billion and Thomson Reuters climbed 25.6% to $314 million.[/R]

Archer-Daniels-Midland-Company ((ADM)) increased 7% or $2.16 to $32.99 after the food processing company reported third quarter net sales increased 5.4% to $21.16 billion from $20.08 billion in the same quarter last year. Net earnings in the quarter declined 31% to $399 million or 60 cents per diluted share compared to $578 million or 86 cents per share in the year ago earlier.

Avon Products, Inc. ((AVP)) dropped 7.7% or $1.68 to $19.92 after the beauty products maker reported first quarter total revenue fell 2% to $2.57 billion from $2.63 billion in the same quarter last year. Net income in the quarter tumbled 82% to $26.5 million or 6 cents per diluted share compared to $143.6 million or 33 cents per share in the year ago period.

Automatic Data Processing, Inc. ((ADP)) rose 1 cent to $55.63 after the payroll processor reported third quarter revenues rose 6.6% to $2.92 billion from $2.74 billion in the prior year quarter. Net earnings in the quarter rose 6.7% to $452.4 million compared to net earnings of $423.8 million in the same quarter last year.

Earnings per share were 92 cents from 85 cents a year ago on fewer shares outstanding.

Biogen Idec Inc. ((BIIB)) decreased 1.5% or $2.08 to $131.93 after the biotechnology company reported first quarter revenue increased 7% to $1.3 billion from $1.2 billion in the same quarter last year. Net earnings in the quarter fell 3% to $302.6 million or $1.25 per diluted share compared to $294.3 million or $1.20 per share in the year ago.

Becton, Dickinson and Company ((BDX)) fell 47 cents to $77.98 after the medical devices maker reported second quarter revenue rose 3.6% to $1.99 billion from $1.92 billion in the same quarter last year. Net earnings in the quarter slumped 6.7% to $291 million or $1.39 per diluted share compared to $312 million or $1.38 per share in the year ago earlier.

Cummins Inc. ((CMI)) slipped 3% or $3.49 to $112.34 after the diesel engine manufacturer said first quarter net sales grew 16% to $4.47 billion from $3.86 billion in the prior-year quarter. Net profit in the quarter surged 33% to $455 million or $2.38 per diluted share compared to net profit of $343 million or $1.75 per share a year ago.

ConocoPhillips ((COP)) plunged 21.1% or $15.16 to $56.47 after the energy company said it has completed the spin-off of the downstream businesses to its stockholders and will receive one share of Phillips 66 common stock for every two shares of ConocoPhillips common stock.

Domino’s Pizza, Inc. ((DPZ)) dropped 8.6% or $3.24 to $34.57 after the pizza restaurant reported first quarter total revenues edged down 1.2% to $384.6 million from $389.2 million in the same quarter last year. Same store sales rose 4.7%. Net income in the quarter plunged 24% to $20.7 million or 35 cents per diluted share compared to $27.1 million or 43 cents per share in the year ago quarter.

Icahn Enterprises, L.P. ((IEP)) rose 1% or 50 cents to $48.99 after the diversified holding company reported first quarter revenue fell 13% to $2.68 billion from $3.08 billion a year ago. Net income in the quarter slumped 80% to $49 million or 49 cents per diluted LP unit compared to net income of $240 million or $2.65 per diluted LP unit for the year-ago quarter

Legg Mason, Inc. ((LM)) fell 7 cents to $26 after the investment company reported fourth quarter total revenue decreased 9% to $648.6 million from $713.4 million in the same quarter last year. Net income in the quarter increased 10% to $76.1 million or 54 cents per diluted share compared to $69.0 million or 45 cents per share in the year ago quarter.

For the 2012 revenue slipped 4% to $2.66 billion from $2.78 billion in the last year. Net income in the year slumped 13% to $220.8 million or $1.54 per diluted share compared to $253.9 million or $1.63 per share in the year ago.

Marsh & McLennan Companies, Inc. ((MMC)) increased 2.4% or 81 cents to $34.26 after the insurance broker reported first quarter revenue grew 6% to $3.05 billion from $2.88 billion in the same quarter last year. Net income in the quarter rose 7% to $347 million or 63 cents per diluted share compared to $325 million or 58 cents per share in the year ago.

Office Depot, Inc. ((ODP)) decreased 2.3% or 7 cents to $2.97 after the office products supplier reported first quarter sales fell 3% to $2.87 billion from $2.97 million in the same quarter last year. Net earnings in the quarter swung to $49.5 million or 14 cents per diluted share compared to net loss of $5.4 million or 5 cents per share in the year ago quarter.

Pfizer Inc. ((PFE)) raised 1 cent to $22.90 the biopharmaceutical company reported first quarter revenues fell 7% to $15.4 billion from $16.50 billion in the year-ago quarter. Net income in the quarter dropped 19% to $1.79 billion or 24 cents per diluted share compared to net income of $2.22 billion or 28 cents per share last year.

Sirius XM Radio Inc. ((SIRI)) rose 1 cent to $2.27 after the broadcasting company reported first quarter revenues increased 11% to $805 million from $724 million in the same quarter last year. Same store sales rose 4.7%. Net income in the quarter soared 38% to $108 million or 2 cents per diluted share compared to $78 million or 1 cent per share in the year ago period.

Thomson Reuters Corporation ((TRI)) increased 1.7% or 53 cents to $30.35 after the provider of information said first quarter revenues edged higher 1% to $3.35 billion from $3.33 billion in the prior-year quarter. Net earnings in the quarter climbed 25.6% to $314 million or 38 cents per diluted share compared to net earnings of $250 million or 30 cents per share a year before.