U.S. Movers: 3M, Colgate-Palmolive, Exxon, Kimberly-Clark, Raytheon

Mukesh Buch
26 Jul, 2012
New York City

3M second quarter net edged up to $1.17 billion.Colgate-Palmolive second quarter net edged up 0.8% to $627 million. Dow Chemical net soared 73.5% to $982 million and Exxon Mobil second quarter net soared 48.6% to $15.9 billion.

[R]11:30 AM New York – 3M second quarter net edged up to $1.17 billion.Colgate-Palmolive second quarter net edged up 0.8% to $627 million. Dow Chemical net soared 73.5% to $982 million and Exxon Mobil second quarter net soared 48.6% to $15.9 billion.[/R]

3M Company ((MMM)) increased 2.5% or $2.23 to $91.03 after the technology company reported revenues in the second quarter ending in June fell 1.9% to $7.53 billion compared to $7.68 billion in the same period of last year. Net income in the quarter edged up 0.6% to $1.17 billion or $1.66 per diluted share compared to $1.16 billion or $1.60 per share a year ago earlier.

Industrial sales fell 0.6% to $2.6 billion and healthcare sales rose 1.1% to 1.3 billion. Consumer sales increased 2.3% to $1.1 billion and display and graphic sales declined 9.3% to $882 million.

3M maintained full year earnings expectations of $6.35 to $6.50 per share and operating income margins in the range of 21.5% to 22.5% for the year.

Ball Corporation ((BLL)) increased 1.5% or 62 cents to $41.52 after the packaging company reported revenues in the second quarter ending on July 1 edged down to $2.30 billion compared to $2.31 billion in the same period of last year. Net income in the quarter slid 3% to $139.5 million or 88 cents per diluted share compared to $143.1 million or 84 cents per share a year ago period.

Bunge Limited ((BG)) gained 3% or $1.90 to $63.47 the after agriculture and food maker reported net sales in the second quarter ending in June increased to $15.01 billion compared to $14.49 billion in the same period of last year. Net income in the quarter plunged 13.6% to $265 million or $1.78 per diluted share compared to $307 million or $2.02 per share a year ago quarter.

CME Group Inc. ((CME)) rose 44 cents to $51.70 after the electronic trading exchange reported net sales in the second quarter ending in June slipped 5 to $795.9 million compared to $838.3 million in the same period of last year. Net income in the quarter declined 16.7% to $244.9 million or 74 cents per diluted share compared to $293.7 million or 88 cents per share a year ago earlier.

Colgate-Palmolive Company ((CL)) gained 3% or $3.13 to $105.38 after the consumer product company reported net sales in the second quarter ending in June increased 2% to $4.27 billion compared to $4.19 billion in the same period of last year. Net income in the quarter rose 0.8% to $627 million or $1.30 per diluted share compared to $622 million or $1.26 per share a year ago.

Exxon Mobil Corporation ((XOM)) rose 58 cents to $85.82 after the oil and natural gas maker reported total revenues in the second quarter ending in June increased 1.5% to $127.4 billion compared to $125.5 billion in the same period of last year. Net income in the quarter soared 48.6% to $15.9 billion or $3.41 per diluted share compared to $10.7 billion or $2.18 per share a year ago earlier.

International Paper Company ((IP)) advanced 4% or $1.27 to $32.64 after the packaging company reported net sales in the second quarter ending in June advanced 6.5% to $7.08 billion compared to $6.65 billion in the same period of last year. Net income in the quarter plunged 38.8% to $134 million or 31 cents per diluted share compared to $219 million or 51 cents per share a year ago earlier.

Kimberly-Clark Corporation ((KMB)) increased 2.4% or $2.05 to $85.45 after the consumer products maker reported net sales in the second quarter ending in June increased 0.2% to $5.27 billion compared to $5.26 billion in the same period of last year. Net income in the quarter surged 22.1% to $498 million or $1.26 per diluted share compared to $408 million or $1.03 per share a year ago period.

Moody’s Corporation ((MCO)) soared 10.5% or $3.81 to $39.86 after the credit ratings company reported revenue in the second quarter ending in June increased 5.9% to $640.8 million compared to $605.2 million in the same period of last year. Net income in the quarter dropped 8.7% to $172.5 million or 76 cents per diluted share compared to $189 million or 82 cents per share a year ago quarter.

Noble Energy, Inc. ((NBL)) increased 2.2% or $1.92 to $86.83 after the energy company reported revenues in the second quarter ending in June surged 14.7% to $966 million compared to $842 million in the same period of last year. Net income in the quarter fell 0.7% to $292 million or $1.58 per diluted share compared to $294 million or $1.61 per share a year ago.

Raytheon Company ((RTN)) fell 7 cents to $55.01 after the technology company reported net sales in the second quarter ending in June decreased 3% to $5.99 billion compared to $6.20 billion in the same period of last year. Net income in the quarter soared 7.5% to $471 million or $1.41 per diluted share compared to $438 million or $1.23 per share a year ago earlier.

The Dow Chemical Company ((DOW)) slipped 3.6% or $1.10 to $29.17 after the chemical producer reported net sales in the second quarter ending in June surged 17.2% to $13.6 billion compared to $11.6 billion in the same period of last year. Net income in the quarter soared 73.5% to $982 million or 84 cents per diluted share compared to $566 billion or 50 cents per share a year ago quarter period.