U.S. Movers: Goldman Sachs, Johnson & Johnson, Mattel, Omnicom, Coca-Cola

Mukesh Buch
17 Jul, 2012
New York City

Goldman Sachs net fell 12% to $927 million. Johnson & Johnson second quarter net declined 49.3% to $1.41 billion and Mattel reported second quarter results ahead of expectations. State Street net falls.

[R]10:40 AM New York – Goldman Sachs net fell 12% to $927 million. Johnson & Johnson second quarter net declined 49.3% to $1.41 billion and Mattel reported second quarter results ahead of expectations. State Street net falls.[/R]

Comerica Inc. ((CMA)) increased 1.1% or 34 cents to $31.15 after the regional bank reported net interest income in the second quarter ending in June increased 11.3% to $435 million compared to $391 million in the same period last year. Net income in the quarter soared 49.5% to $142 million or 73 cents per diluted share compared to $95 million or 53 cents per share a year ago earlier.

Host Hotels & Resorts, Inc. ((HST)) rose 1.4% or 22 cents to $15.60 after the hotel operator reported total revenue in the second quarter ending on June 15 grew 6.5% to $1.37 billion compared to $1.28 billion in the same period last year. Net income in the quarter surged 29.7% to $83 million or 11 cents per diluted share compared to $64 million or 9 cents per share a year ago period.

Johnson & Johnson ((JNJ)) fell 21 cents to $68.24 after the healthcare products maker reported sales in the second quarter ending on July 1 edged down 0.7% to $16.5 billion compared to $16.7 billion in the same period last year. Net earnings in the quarter declined 49.3% to $1.41 billion or 50 cents per diluted share compared to $2.78 billion or $1.0 per share a year ago.

J&J lowered its annual earnings per share estimate to between $5 and $5.07 from its earlier estimate of $5.07 and $5.17.

The drug maker yesterday submitted application to U.S. and Europe food and drug administration for approval of SIMPONI treatment for ulcerative colitis.

Mattel, Inc. ((MAT)) advanced 9.2% or $2.86 to $33.90 after the toy maker reported sales in the second quarter ending in June flat to $1.16 billion compared to same period last year. Net income in the quarter increased 19% to $96.2 million or 28 cents per diluted share compared to $80.5 million or 23 cents per share a year ago earlier.

Omnicom Group Inc. ((OMC)) slid 48 cents to $48.66 after the advertising company reported total revenue in the second quarter ending in June grew 2.1% to $3.56 billion compared to $3.49 billion in the same period last year. Net income in the quarter rose 2.8% to $282.7 million or $1.02 per diluted share compared to $275.1 million or 96 cents per share a year ago period.

State Street Corporation ((STT)) declined 5.1% or $2.29 to $41.85 after the financial holding company reported total revenue in the second quarter ending in June slid 3% to $2.42 billion compared to $2.49 billion in the same period last year. Net income in the quarter fell 4% to $490 million or 98 cents per diluted share compared to $513 million or $1.0 per share a year ago earlier.

In separate statement State Street said that it agreed to acquire administration services of Goldman Sachs for $550 million and the deal is expected to be finalized by early fourth quarter of this year.

The Goldman Sachs Group, Inc. ((GS)) increased 1.1% or $1.16 to $98.84 after the investment bank reported total revenue in the second quarter ending in June slumped 10% to $6.63 billion compared to $7.28 billion in the same period last year. Net earnings in the quarter slipped 12% to $927 million or $1.78 per diluted share compared to $1,052 million or $1.85 per share a year ago earlier.

The Coca-Cola Company ((KO)) increased 1.1% or 86 cents to $77.34 after the beverage company reported revenue in the second quarter ending in June grew 3% to $13.09 billion compared to $12.74 billion in the same period last year. Net income in the quarter edged down to $2.79 billion or $1.21 per diluted share compared to $2.80 billion or $1.20 per share a year ago.

The largest beverage company in the world said revenues, operating income and volumes increased in every region except Europe. Volume in North America increased 1% and in Pacific region shot up 8%.

The Mosaic Company ((MOS)) gained 3.4% or $1.92 to $57.29 after the agriculture products maker reported net sales in the fourth quarter ending in May fell 1% to $2.82 billion compared to $2.86 billion in the same period last year. Net income in the quarter plunged 22% to $507.3 million or $1.19 per diluted share compared to $649.2 million or $1.45 per share a year ago period.