U.S. Movers - 2: Arrow Electronics, Fiserv, NiSource, Tyco Intl.

Sarla Buch
31 Jul, 2012
New York City

Arrow Electronics second quarter net plunged 26.7% and Fiserv fourth quarter net surged 118% to $161 million. NiSource second quarter net surged 73% and Tyco International third quarter net declined 33% to $242 million.

[R]10:30 AM New York – Arrow Electronics second quarter net plunged 26.7% and Fiserv fourth quarter net surged 118% to $161 million. NiSource second quarter net surged 73% and Tyco International third quarter net declined 33% to $242 million.[/R]

Arrow Electronics, Inc. ((ARW)) fell 6 cents to $34.37 after the electronic components provider reported sales in the second quarter ending in June decreased 7% to $5.15 billion compared to $5.54 billion in the same period of last year. Net income in the quarter plunged 26.7% to $114.4 million or $1.02 per diluted share compared to $156.2 million or $1.33 per share a year ago period.

Fiserv, Inc. ((FISV)) slipped 3.8% or $2.76 to $69.49 after the financial service provider reported revenue in the fourth quarter ending in June increased 2.8% to $1.10 billion compared to $1.07 billion in the same period of last year. Net income in the quarter surged 118% to $161 million or $1.17 per diluted share compared to $90 million or 62 cents per share a year ago period.

NiSource Inc. ((NI)) rose 1.2% or 31 cents to $25.94 after the energy holding company reported revenues in the second quarter ending in June grew 5% to $807.6 million compared to $765.8 million in the same period of last year. Net income in the quarter surged 73% to $69.4 million or 23 cents per diluted share compared to $40.2 million or 14 cents per share a year ago period.

NiSource reaffirms net operating earnings for fiscal year outlook in the range of $1.40 to $1.50 per share

Seagate Technology plc ((STX)) slumped 4.5% or $1.38 to $29.05 after the Ireland based data storage device maker reported revenue in the fourth quarter ending on June 29 surged 56.6% to $4.48 billion compared to $2.86 billion in the same period of last year. Net income in the quarter soared more than seven-folds to $1.01 billion or $2.37 per diluted share compared to $119 million or 27 cents per share a year ago.

Tyco International Ltd ((TYC)) increased 1.4% or 79 cents to $54.57 after the Switzerland based conglomerates reported sales in the third quarter ending on June 29 rose 4% to $4.46 billion compared to $4.29 billion in the same period of last year. Net income in the quarter declined 33% to $242 million or 51 cents per diluted share compared to $359 million or 76 cents per share a year ago quarter.

Tyco said proposed separation into three independent companies remains on track for completion including the merger of the flow control business with Pentair at the end of September.