U.S. Movers: Allstate, Comcast, Ecolab, Hanesbrands, Time Warner

Mukesh Buch
01 Aug, 2012
New York City

Allstate second quarter net swung to $423 million profit. Comcast net surged 47% to $1.35 billion. Ecolab second quarter net surged 47% and fiscal outlook narrows. Hanesbrands net tumbled 99% and Time Warner net declined 33%.

[R]10:45 AM New York – Allstate second quarter net swung to $423 million profit. Comcast net surged 47% to $1.35 billion. Ecolab second quarter net surged 47% and fiscal outlook narrows. Hanesbrands net tumbled 99% and Time Warner net declined 33%.[/R]

The Allstate Corporation ((ALL)) advanced 4.3% or $1.50 to $35.80 after the insurance company reported revenues in the second quarter ending in June rose 2.4% to $8.28 billion compared to $8.08 billion in the same period of last year. Net income in the quarter swung to $423 million or 86 cents per diluted share compared to net loss of $624 million or $1.19 per share a year ago earlier.

The total property liability premiums written grown 3.8% to $6.86 billion and combined ratio was 98 compared to 123.3 in the prior year quarter and for standard auto combined ratio was 95.5 which improved to 2.8 points from a year ago period.

Comcast Corporation ((CMCSA)) gained 3.5% or $1.15 to $33.70 after the communication service provider reported revenues in the second quarter ending in June increased 6.1% to $15.21 billion compared to $14.33 billion in the same period of last year. Net income in the quarter surged 47% to $1.35 billion or 50 cents per diluted share compared to $1.02 million or 37 cents per share a year ago.

Revenue from the cable networks segment increased 3.6% to $2.3 billion and for broadcast television segment decreased 9.1% to $1.5 billion. Revenue from the filmed entertainment segment decreased 1.8% to $1.2 billion and revenue from the theme parks segment increased 3.4% to $539 million.

Ecolab Inc. ((ECL)) rose 26 cents to $65.71 after the sanitizing service provider reported revenues in the second quarter ending in June soared 74% to $2.96 billion compared to $1.70 billion in the same period of last year. Net income in the quarter surged 47% to $184.5 million or 62 cents per diluted share compared to $125.9 million or 53 cents per share a year ago.

Ecolab said inclusion of Nalco merger which was closed on last December 1 and sales rose 3% in this quarter and now the company expects third quarter adjusted earnings per share will be in the range of 83 cents to 87 cents from 75 cents a year ago.

Ecolab narrowed its fiscal adjusted earnings per share forecast between $2.95 and $3.02 which represents a 16% to 19% increase from prior year however, prior forecast was $2.95 to $3.05.

FMC Corporation ((FMC)) decreased 2.8% or $1.55 to $53.15 after the diversified chemical company reported revenues in the second quarter ending in June increased 11% to $905.2 million compared to $812.2 million in the same period of last year. Net income in the quarter slid 2.1% to $104.9 million or 76 cents per diluted share compared to $107.2 million or 74 cents per share a year ago period.

FMC estimated third quarter adjusted earnings of 70 cents to 80 cents per share, an increase of 9% compared to a year ago quarter and for the full year adjusted earnings between $3.42 to $3.52 per share.

Hanesbrands Inc. ((HBI)) advanced 5.9% or $1.79 to $31.81 after the apparel maker reported revenues in the second quarter ending in June rose 1.1% to $1.18 billion compared to $1.17 billion in the same period of last year. Net income in the quarter tumbled 99% to $1.23 million or 1 cent per diluted share compared to $86.8 million or 87 cents per share a year ago period.

Hanes provides full year earnings guidance for the continuing operations between $2.50 and $2.60 and net sales in the range of $4.52 billion to $4.57 billion.

Life Technologies Corporation ((LIFE)) slipped 1.4% or 62 cents to $43.26 after the biotechnology company reported revenue in the second quarter ending in June increased 0.9% to $949 million compared to $941 million in the same period of last year. Net income in the quarter surged 28% to $122.4 million or 67 cents per diluted share compared to $95.5 million or 52 cents per share a year ago.

ONEOK, Inc. ((OKE)) increased 1.3% or 61 cents to $45.12 after the energy company reported revenues in the second quarter ending in June slipped 26.4% to $2.53 billion compared to $3.44 billion in the same period of last year. Net income in the quarter soared 10.9% to $61 million or 29 cents per diluted share compared to $55 million or 25 cents per share a year ago period.

R.R. Donnelley & Sons Company ((RRD)) increased 1.4% or 18 cents to $12.30 after the printing service provider reported revenues in the second quarter ending in June fell 3.6% to $2.53 billion compared to $2.62 billion in the same period of last year. Net income in the quarter soared more than six-fold to $88.8 million or 49 cents per diluted share compared to $12.2 million or 6 cents per share a year ago quarter.

Net sales for the U.S. print and related services segment decreased 3.9% to $1.8 billion in the second quarter and for the International segment decreased of 2.8% to $682.6 million from the second quarter of 2011. For the full year the company expects revenue of about $10.4 billion to $10.5 billion.

Time Warner Inc. ((TWX)) fell 27 cents to $38.85 after the media and entertainment reported revenues in the second quarter ending in June slid 4% to $6.74 billion compared to $7.03 billion in the same period of last year. Net income in the quarter declined 33% to $430 million or 44 cents per diluted share compared to $638 million or 59 cents per share a year ago.

Revenues from network broadcasting and HBO segment rose 4% to $3.6 billion and film and TV segment revenues decreased 8% to $2.6 billion. In publishing segment revenues declined 9% to $858 million.

The company reaffirmed its full year business outlook and continued to expect percentage growth rate in adjusted diluted net income per share to be in the low double digits.

TRW Automotive Holdings Corp ((TRW)) slipped 1.9% or 75 cents to $38.55 after the automotive equipment maker reported revenue in the second quarter ending in June rose 0.2% to $4.24 billion compared to $4.23 billion in the same period of last year. Net earnings in the quarter plunged 24.9% to $220 million or $1.71 per diluted share compared to $293 million or $2.21 per share a year ago.

The TRW now expected sales for the fiscal 2012 would be between $16.2 billion and $16.4 billion and third quarter sales to be about would be $3.9 billion.

Yandex N.V. ((YNDX)) increased 1.4% or 27 cents to $19.50 after the Russia focused Internet search provider reported revenues in the second quarter ending in June advanced 28% to $207.2 million compared to $161.7 million in the same period of last year. Net income in the quarter surged 50.6% to $60.4 million or 18 cents per diluted share compared to $40.1 million or 12 cents per share a year ago.