U.S. Movers: Cigna, Exxon Mobil, Exelon, Kellogg, Pfizer, Visa

Mukesh Buch
01 Nov, 2012
New York City

Cigna third quarter net jumped 155% on revenue growth. Exxon Mobil net slumped 7% and Exelon profit plunged 51%. Pfizer third quarter net declined 14% as sales dropped. Visa fourth quarter net soared 89%.

[R]10:45 AM New York – Cigna third quarter net quarter jumped 155% on revenue growth. Exxon Mobil net slumped 7% and Exelon profit plunged 51%. Pfizer third quarter net declined 14% as sales dropped. Visa fourth quarter net soared 89%.[/R]

Automatic Data Processing, Inc. ((ADP)) gained 2.4% or $1.42 to $59.20 after the outsourcing company said total revenues in the first quarter ending in September climbed 5% to $2.64 billion from $2.51 billion in the same period of last year. Net earnings in the quarter edged up 0.7% to $302.5 million or 63 cents a diluted share compared to $300.4 million or 62 cents a share a year ago earlier.

AmerisourceBergen Corporation ((ABC)) increased 2.7% or $1.10 to $40.55 after the pharmaceutical company reported net sales in the third quarter ending in September slipped 4% to $19.45 billion from $20.35 billion in the same period of last year. Net income in the quarter climbed 11% to $163.5 million or 66 cents a diluted share compared to $147.3 million or 54 cents a share a year ago earlier.

The company expects diluted earnings per share from continuing operations in fiscal 2013 between $3.06 and $3.16, 11% to 14% increase, and revenue growth in the range of 6% to 9%.

Cigna Corporation ((CI)) climbed 2.9% or $1.49 to $52.49 after the health service provider said revenue in the third quarter ending in September surged 31% to $7.36 billion from $5.61 billion in the same period of last year. Net income in the quarter jumped 155% to $466 million or $1.61 a diluted share compared to $183 million or 67 cents a share a year ago.

Cigna now estimates full year consolidated adjusted income from operations in the range of $1.66 billion to $1.71 billion or $5.70 to $5.90 per share.

Exxon Mobil Corporation ((XOM)) slid 26 cents to $90.91 after the petrochemicals company reported total revenues in the third quarter ending in September slipped 8% to $115.71 billion from $125.33 billion in the same period of last year. Net income in the quarter slumped 7% to $9.57 billion or $2.09 a diluted share compared to $10.33 billion or $2.13 a share a year ago.

Exelon Corporation ((EXC)) slipped 1.2% or 45 cents to $35.38 after the electric utility provider reported revenues in the third quarter ending in September surged 25% to $6.57 billion from $5.25 billion in the same period of last year. Net income in the quarter plunged 51% to $296 million or 35 cents a diluted share compared to $601 million or 90 cents a share a year ago.

Enterprise Products Partners L.P. ((EPD)) dropped 30 cents to $52.46 after the natural gas provider stated total revenues in the third quarter ending in September dropped 7% to $10.47 billion from $11.33 billion in the same period of last year. Net income in the quarter surged 23% to $588 million or 66 cents a diluted share compared to $480 million or 55 cents a share a year ago quarter.

The company estimates gross operating margin attributable to fee based activities will increase from nearly 73% in 2011 to about 80%in 2013 and higher in 2014.

The Estee Lauder Companies Inc ((EL)) declined 2.4% or $1.49 to $60.13 after the personal care products maker stated net sales in the first quarter ending in September increased 3% to $2.55 billion from $2.48 billion in the same period of last year. Net earnings in the quarter jumped 8% to $299.5 million or 76 cents a diluted share compared to $278.6 million or 70 cents a share a year ago quarter.

“Sales for the fiscal year are expected to grow 6% to 7%.” said Fabrizio Freda, president and chief executive officer.

Kellogg Company ((K)) gained 2% or $1.08 to $53.40 after the ready-to-eat food maker reported net sales in the third quarter ending in September climbed 12% to $3.72 billion from $3.31 billion in the same period of last year. Net earnings in the quarter gained 2% to $296 million or 82 cents a diluted share compared to $290 million or 80 cents a share a year ago period.

The Kellogg said internal net sales in the quarter increased 2.8%. Net sales of North America climbed 11.1% to $2.5 billion and international net sales jumped 14.8% to $1.3 billion.

The company reaffirmed its guidance for full year internal net sales growth of between 2% and 3% and earnings per share in a range of $3.18 to $3.30.

L-3 Communications Holdings, Inc ((LLL)) increased 1% or 74 cents to $74.54 after the aerospace and defense contractor said net sales in the third quarter ending in September edged down 0.5% to $3.28 billion from $3.30 billion in the same period of last year. Net income in the quarter plunged 18% to $192 million or $1.97 a diluted share compared to $235 million or $2.24 a share a year ago.

The company lifted its full year guidance to a range between $13 billion and $13.1 billion from prior guidance of $12.95 billion to $13.15 billion and diluted earnings per share estimated in the range of $7.80 to $7.90 from previous guidance of $7.70 to $7.85.

Pfizer Inc. ((PFE)) decreased 1.2% or 32 cents to $24.55 after the biopharmaceutical company reported revenues in the third quarter ending in September dropped 16% to $13.98 billion from $16.61 billion in the same period of last year. Net earnings in the quarter declined 14% to $3.21 billion or 43 cents a diluted share compared to $3.74 billion or 48 cents a share a year ago.

Pfizer added revenues of primary care unit declined 37% to $3.61 billion and revenues of specialty care unit slumped 5% to $3.41 billion.

The company lowered its revenues guidance for the fiscal 2012 to a range between $58 billion and $59 billion from earlier guidance of $58 billion to $60 billion and lifted diluted earnings per share to a range of $1.30 to $1.38 compared to previous guidance of $1.21 to $1.36.

Visa Inc. ((V)) jumped 2.9% or $4.18 to $142.94 after the payment network operator said net revenue in the fourth quarter ending in September jumped 15% to $2.73 billion from $2.38 billion in the same period of last year. Net income in the quarter soared 89% to $1.66 billion or $2.47 a diluted share compared to $880 million or $1.27 a share a year ago earlier.

Visa added total processed transactions by VisaNet for the year ended in September increased 5% to total of 53 billion from the prior year.

For the fourth quarter, payments volume growth increased 6% and cross-border volume growth climbed 10% and total processed transaction processed by VisaNet gained 2% to 14 billion.

Visa expects net revenue growth for the fiscal 2013 in the low double digits and adjusted annual diluted earnings per share growth in the high teens.