U.S. Movers: AT&T, Biogen, DuPont, Illinois Tool, United Parcel

Mukesh Buch
24 Jul, 2012
New York City

AT&T second quarter net increased on higher sales of smart phones. Biogen third quarter net soared 34% to $386.8 million. DuPont net fell and said earnings may slide. Illinois Tool second quarter net advanced 77%. United Parcel lowered full year outlook.

[R]10:50 AM New York – AT&T second quarter net increased on higher sales of smart phones. Biogen third quarter net soared 34% to $386.8 million. DuPont net fell and said earnings may slide. Illinois Tool second quarter net advanced 77%. United Parcel lowered full year outlook.[/R]

AT&T Inc. ((T)) slid 1.7% or 61 cents to $34.77 after the telecom operator reported net revenues in the second quarter ending in June rose 0.3% to $31.6 billion compared to $31.5 billion in the same period of last year. Net income in the quarter increased 8.7% to $3.90 billion or 66 cents per diluted share compared to $3.59 billion or 60 cents per share a year ago.

Smart phone sales were 5.1 million with more than one-third of all postpaid subscribers are now on 4G-capable devices.

Altria Group, Inc. ((MO)) rose 17 cents to $35.66 after the holding company reported net revenues in the third quarter ending in June grew 9.6% to $6.49 billion compared to $5.92 billion in the same period of last year. Net income in the quarter surged 176% to $1.23 billion or 60 cents per diluted share compared to $444 million or 21 cents per share a year ago earlier.

Altria revised its full year earnings guidance from a range of $2.28 to $2.34 to a range of $2.29 to $2.33.

BE Aerospace, Inc. ((BEAV)) slumped 4.8% or $2.03 to $39.88 after the aircraft products maker reported net sales in the second quarter ending in June soared 26% to $768.1 million compared to $608.9 million in the same period of last year. Net income in the quarter surged 30% to $71.2 million or 69 cents per diluted share compared to $54.8 million or 54 cents per share a year ago earlier.

The company estimated full-year revenues of $3 billion and earnings per share of $2.75.

Biogen Idec Inc. ((BIIB)) gained 60 cents to $139.83 after the biotechnology company reported net revenues in the second quarter ending in June surged 18% to $1.42 billion compared to $1.21 billion in the same period of last year. Net income in the quarter soared 34% to $386.8 million or $1.61 per diluted share compared to $288.0 million or $1.18 per share a year ago earlier.

Biogen updated its full year 2012 financial guidance and estimated growth of revenue to be in the mid-single digits from 2011 and earnings expected to be above $5.44.

E. I. du Pont de Nemours and Company ((DD)) fell 48 cents to $48.23 after the conglomerate reported total sales in the second quarter ending in June grew 7% to $11.3 billion compared to $10.5 billion in the same period of last year. Net income in the quarter fell 3% to $1.18 billion or $1.25 per diluted share compared to $1.22 billion or $1.29 per share a year ago.

DuPont expects full year earnings to be near its lower end of its existing outlook range of $4.20 to $4.40 per share on the market uncertaintie and currency as well higher tax rate.

Illinois Tool Works Inc. ((ITW)) slipped 3.6% or $1.97 cents to $51.60 after the industrial products and equipment maker said second quarter total revenues rose 0.9% to $4.655 billion. Net income in the quarter advanced 76.6% to $881 million or $1.85 per diluted share from $499 million or 99 cents per share last year.

Texas Instruments Inc. ((TXN)) fell 26 cents to $26.56 after the semiconductors maker reported revenue in the second quarter ending in June fell 4% to $3.34 billion compared to $3.46 billion in the same period of last year. Net income in the quarter plunged 34% to $446 million or 38 cents per diluted share compared to $672 million or 56 cents per share a year ago quarter.

The chip maker expects revenue for the fiscal third quarter to be between $3.21 and $3.47 billion and earnings per share in the range of 34 cents to 42 cents. Operating profit declined on the acquisition charges of National Semiconductor and on lower gross profit and higher operating expenses.

United Parcel Service, Inc. ((UPS)) declined 3.8% or $2.99 to $74.97 after the air courier reported revenue in the second quarter ending in June rose 1.2% to $13.35 billion compared to $13.19 billion in the same period of last year. Net income in the quarter increased 2.2% to $1.12 billion or $1.15 per diluted share compared to $1.09 billion or $1.09 per share a year ago.

The courier reduced earnings per share guidance for 2012 to a range of $4.50 to $4.70 from the previous estimate of between $4.75 and $5 a share.

Whirlpool Corp. ((WHR)) dropped 6.4% or $4.34 to $62.97 after the home appliances manufacturer reported second quarter sales dropped 4.6% to $4.51 billion. Net earnings in the quarter swung to $113 million or $1.43 per diluted share compared to a net loss of $161 million or $2.10 per share in the prior year period.