U.S. Movers: CR Bard, Delta Air Lines, Hess, Southern, WellPoint

Mukesh Buch
26 Jul, 2012
New York City

CR Bard swung to second quarter profit and Delta Air Lines to $166 million loss. Hess second quarter net slid 9.6% on lower oil prices. Motorola Solutions operating earnings surged 75%.

[R]10:50 AM New York – CR Bard swung to second quarter profit and Delta Air Lines to $166 million loss. Hess second quarter net slid 9.6% on lower oil prices. Motorola Solutions operating earnings surged 75%.[/R]

C. R. Bard, Inc. ((BCR)) slumped 4.5% or $4.72 to $98.58 after the surgical products maker reported net sales in the second quarter ending in June rose 2% to $742.6 million compared to $725 million in the same period of last year. Net income in the quarter swung to $133.9 million or $1.54 per diluted share compared to net loss of $47.8 million or 55 cents per share a year ago earlier.

Cooper Industries plc ((CBE)) increased 1.1% or 83 cents to $71.37 after the Ireland based electrical components maker reported revenues in the second quarter ending in June grew 7.4% to $1.47 billion compared to $1.37 billion in the same period of last year. Net income in the quarter soared 17.1% to $189.0 million or $1.17 per diluted share compared to $161.4 million or 96 cents per share a year ago period.

During the quarter $10.7 million expense relating to the previously announced transaction with Eaton Corporation ((ETN)) it has suspended to provide earnings guidance updates.

Delta Air Lines, Inc. ((DAL)) fell 8 cents to $9.39 after the airline company reported revenues in the second quarter ending in June rose 6% to $9.73 billion compared to $9.15 billion in the same period of last year. Net loss in the quarter swung to $168 million or 20 cents per diluted share compared to net income of $198 million or 23 cents per share a year ago earlier.

Delta expected strong profit in the September quarter with 10% to 12% operating margin and taking steps towards structural changes on cost side.

Hess Corporation ((HES)) gained 3.1% or $1.47 to $46.93 after the integrated energy company reported revenues in the second quarter ending in June slid 5.1% to $9.31 billion compared to $9.81 billion in the same period of last year. Net income in the quarter slipped 9.6% to $549 million or $1.61 per diluted share compared to $607 million or $1.78 per share a year ago.

Lorillard, Inc. ((LO)) fell $1.06 to $127.70 after the cigarettes maker reported revenues in the second quarter ending in June rose 2.3% to $1.73 billion compared to $1.69 billion in the same period of last year. Net income in the quarter slipped 9.6% to $284 million or $2.17 per diluted share compared to $291 million or $2.05 per share a year ago earlier.

The company added increased sales primarily on higher average prices that partially offset by lower unit sales and reaffirms fiscal goal of double digit total shareholder return measured by earnings per share growth.

Motorola Solutions, Inc. ((MSI)) decreased 1.5% or 73 cents to $47.10 after the communication infrastructure provider reported revenues in the second quarter ending in June increased 8% to $2.15 billion compared to $1.98 billion in the same period of last year. Net earnings in the quarter declined 48% to $182 million or 61 cents per diluted share compared to $349 million or $1.0 per share a year ago period.

As operating earnings surged 75% to $278 million compared to $159 million from a year ago quarter, the company authorized to repurchase an additional $2 billion share with no expiration date. These increase in addition to the $3 billion currently authorized $2.9 billion which has utilized in last twelve months.

Motorola expects third quarter sales to grow about 3% and full year growth to 5% to 6%.

The Southern Company ((SO)) rose 47 cents to $47.87 after the electric utility company reported revenues in the second quarter ending in June slipped 7.5% to $4.18 billion compared to $4.52 billion in the same period of last year. Net income in the quarter rose 3% to $623 million or 71 cents per diluted share compared to $604 million or 71 cents per share a year ago.

The company added 20,000 new residential customers, more than the projected for the entire year.

T. Rowe Price Group, Inc. ((TROW)) increased 49 cents to $59.46 after the investment company reported net revenues in the second quarter ending in June fell 3% to $713.7 million compared to $736.8 million in the same period of last year. Net income in the quarter edged down 1% to $203.8 million or 76 cents per diluted share compared to $205.6 million or 79 cents per share a year ago earlier.

Visa Inc. ((V)) gained 4.2% or $5.26 to $127.34 after the digital payment processor reported revenues in the third quarter ending in June grew 7.5% to $2.56 billion compared to $2.32 billion in the same period of last year. Net loss in the quarter swung to $1.84 billion or $2.74 per diluted share compared to net income of $1 billion or $1.43 per share a year ago.

WellPoint, Inc. ((WLP) slid 1.6% or 91 cents to $53.14 after the health benefit company reported revenues in the second quarter ending in June rose 2% to $15.17 billion compared to $14.88 billion in the same period of last year. Net income in the quarter declined 8.3% to $643.6 million or $1.94 per diluted share compared to $701.6 million or $1.89 per share a year ago period.

WellPoint estimated full year net income in the range of $7.30 to $7.40 per share and revenues of about $61 billion. Year-end medical enrollment expected to be approximately 33.4 million members.

Whole Foods Market, Inc. ((WFM)) soared 10.1% or $8.50 to $92.83 after the grocery retailer reported sales in the third quarter ending on July 1 soared 14% to $2.73 billion compared to $2.40 billion in the same period of last year. Comparable store sales increased 8.2%.

Net income in the quarter declined 8.3% to $116.8 million or 63 cents per diluted share compared to $88.5 million or 50 cents per share a year ago period.

The retailer raised fourth quarter earnings per share outlook to $2.51 to $2.52 an increase of 30% to 31% year over year. For fiscal 2013 the company expects sales growth in line with fiscal year 2012 and comp sales of 6.5% to 8.5% and earnings per share of $2.83 to $2.87, a year over year increase of 16% to 17%.