U.S. Movers - 1: American Tower, Becton, Dickinson, Cigna, Duke Energy

Mukesh Buch
02 Aug, 2012
New York City

American Tower second quarter net plunged 58% and Becton, Dickinson net declined 4.7% and Cigna net slipped 2.8% to $380 million. Duke Energy net rose 2% to $444 million. DaVita net fell 1% to $120 million and Hospira net swung to loss.

[R]10:45 AM New York – American Tower second quarter net plunged 58% and Becton, Dickinson net declined 4.7% and Cigna net slipped 2.8% to $380 million. Duke Energy net rose 2% to $444 million. DaVita net fell 1% to $120 million and Hospira net swung to loss.[/R]

American Tower Corporation ((AMT)) rose 8 cents to $71.64 after the holding company reported revenues in the second quarter ending in June soared 16.8% to $697.8 million compared to $597.2 million in the same period of last year. Net income in the quarter plunged 58% to $48.2 million or 12 cents per diluted share compared to $115.2 million or 29 cents per share a year ago earlier.

Domestic rental and management segment revenue increased 11.4% to $473.4 million which represented 68% of total revenues and in international segment revenue increased 31.4% to $208.9 million that represented 30% of total revenues and the company maintained outlook for rental revenue and raised outlook for full year.

Becton, Dickinson and Company ((BDX)) increased 2% or $1.57 to $76.75 after the medical technology company reported revenues in the third quarter ending in June increased 1.5% to $1.98 billion compared to $1.95 billion in the same period of last year. Net income in the quarter declined 4.7% to $326.9 million or $1.59 per diluted share compared to $343.1 million or $1.53 per share a year ago.

Cigna Corporation ((CI)) gained 4.2% or $1.70 to $41.95 after the health service company reported revenues in the second quarter ending in June surged 36% to $7.5 billion compared to $5.5 billion in the same period of last year. Net income in the quarter slipped 2.8% to $380 million or $1.31 per diluted share compared to net loss of $391 million or $1.43 per share a year ago period.

Cigna now estimates full year consolidated adjusted income from operations to be in the range of $1.53 billion to $1.63 billion or $5.25 to $5.60 per share.

Duke Energy Corporation ((DUK)) fell 35 cents to $67.17 after the energy company reported revenues in the second quarter ending in June grew 1.4% to $3.58 billion compared to $3.53 billion in the same period of last year. Net income in the quarter increased 2% to $444 million or 99 cents per diluted share compared to $435 million or 98 cents per share a year ago.

The company expects its adjusted earnings guidance for the year in the range of $4.20 to $4.35 per share for the combined company as adjusted for the one-for-three reverse stock split.

DaVita Inc. ((DVA)) slid 1.9% or $2.06 to $96.73 after the dialysis service provider reported revenues in the second quarter ending in June surged 16% to $1.93 billion compared to $1.66 billion in the same period of last year. Net income in the quarter fell 1% to $120 million or 99 cents per diluted share compared to $120.7 million or $1.03 per share a year ago period.

DaVita lifted its operating income guidance for 2012 in the range of $1.28 billion to $1.33 billion from previous guidance of $1.23 billion to $1.31 billion.

Hospira, Inc. ((HSP)) slipped 3.9% or $1.43 to $34.96 after pharmaceutical company reported revenues in the second quarter ending in June fell 3% to $1.03 billion compared to $1.06 billion in the same period of last year. Net loss in the quarter swung to $2.5 million or 2 cents per diluted share compared to net income of $143.6 million or 85 cents per share a year ago earlier.

Hospira estimated net sales for the fiscal 2012 in the range between negative 1% to positive 2% and earnings per share between 63 cents and 93 cents.

Hyatt Hotels Corporation ((H)) decreased 1.4% or 45 cents to $36.34 after hotels and resorts operator reported revenues in the second quarter ending in June grew 8% to $1.01 billion compared to $936 million in the same period of last year. Net income in the quarter slid 5% to $39 million or 24 cents per diluted share compared to $37 million or 22 cents per share a year ago period.

Wright Express Corporation ((WXS)) fell 50 cents to $59.53 after the payment service provider reported revenues in the second quarter ending in June increased 8% to $153.1 million compared to $141.3 million in the same period of last year. Net income in the quarter slid 5% to $30.3 million or 78 cents per diluted share compared to $40.6 million or $1.04 per share a year ago period.

For the third quarter, the company expects revenue in the range of $153 million to $158 million and adjusted net income in the range of $42 million to $45 million or $1.08 to $1.15 per diluted share. For the full year revenues are expected in the range of $591 million to $601 million and adjusted net income to be in the range of $156 million to $162 million or $4 to $4.15 per diluted share.