U.S. Movers: Agrium, Kraft Foods, Hospira, Macy

Mukesh Buch
07 Nov, 2012
New York City

Agrium third quarter net plunged 56%. Express Scripts net surged 21%. Kraft Foods net climbed 13% to $470 million and Macy

[R]10:45 AM New York – Agrium third quarter net plunged 56%. Express Scripts net surged 21%. Kraft Foods net climbed 13% to $470 million and Macy’s net advanced and lifted outlook. News Corp. first quarter net surged and AES Corp net loss widened to $1.57 billion.[/R]

Agrium Inc. ((AGU)) declined 6.9% or $7.49 to $99.66 after the Canada based nutrients maker said sales in the third quarter ending in September slipped 6% to $2.96 billion from $3.14 billion in the same period of last year. Net earnings in the quarter plunged 56% to $129 million or 80 cents a diluted share compared to $293 million or $1.85 a share a year ago earlier.

For the fourth quarter, Agrium expects diluted earnings per share in the range of $1.50 to $1.90.

Express Scripts Holding Co. ((ESRX)) slipped 2.2% or $1.23 to $53.92 after the pharmaceutical company stated total revenues in the third quarter ending in September surged 136% to $27.4 billion from $11.6 billion in the same period of last year. Net income in the quarter surged 21% to $391.4 million or 47 cents a diluted share compared to $324.7 million or 66 cents a share a year ago.

Express Scripts lifted full year adjusted earnings per share guidance and now expects to report $3.65 to $3.75 up from previous guidance of $3.60 to $3.75.

Hospira, Inc. ((HSP)) increased 1.2% or 38 cents to $30.94 after the biotechnology company said net sales in the third quarter ending in September grew 2% to $994 million from $976.7 million in the same period of last year. Net income in the quarter swung to $1.2 million or 1 cent a diluted share compared to net loss of $88.9 million or 54 cents a share a year ago earlier.

Hospira expects 2012 net sales to range between negative 1% to positive 2% and adjusted earnings per share projected to $2.

Kraft Foods Inc. ((KRFT)) gained 39 cents to $45.09 after the food processing company reported total revenues in the third quarter ending in September increased 3% to $4.61 billion from $4.47 billion in the same period of last year. Net income in the quarter climbed 13% to $470 million or 79 cents a diluted share compared to $417 million or 70 cents a share a year ago period.

Kraft Food confirmed its guidance for 2013, net revenue growth in line with growth of North American food and beverage market and earnings per share nearly to $2.60.

Macy’s, Inc. ((M)) increased 22 cents to $41.58 after the apparel and accessory retailer said net sales in the third quarter ending in September climbed 4% to $6.08 billion from $5.85 billion in the same period of last year. Same store sales in the quarter jumped 3.7%.

Net income in the quarter advanced 4% to $145 million or 36 cents a diluted share compared to $139 million or 32 cents a share a year ago earlier.

Macy’s lifted its full year earnings guidance to $3.35 to $3.40 per diluted share and fourth quarter earnings guidance of $1.94 to $1.99 per diluted share.

News Corporation ((NWSA)) gained 2.2% or 55 cents to $24.83 after the global media company stated total revenues in the first quarter ending in September increased 2% to $8.14 billion from $7.96 billion in the same period of last year. Net income in the quarter more than 202% to $2.23 billion or 94 cents a diluted share compared to $738 million or 28 cents a share a year ago period.

Time Warner Inc. ((TWX)) climbed 3.9% or $1.56 to $44.71 after the media and entertainment reported revenues in the third quarter ending in September plunged 3% to $6.84 billion from $7.07 billion in the same period of last year. Net income in the quarter increased 2% to $838 million or 86 cents a diluted share compared to $822 million or 78 cents a share a year ago.

The AES Corporation ((AES)) slid 4 cents to $10.44 after the electric utility provider reported total revenues in the third quarter ending in September slumped 6% to $4.58 billion from $4.31 billion in the same period of last year. Net loss in the quarter widened to $1.57 billion or $2.10 a diluted share compared to $131 million or 17 cents a share a year ago.

The company reaffirmed its full year adjusted earnings per share guidance between $1.22 and $1.30.

United States Cellular Corporation ((USM)) slipped 1% or 39 cents to $38.63 after the communications service provider stated total revenues in the third quarter ending in September increased 3% to $1.14 billion from $1.11 billion in the same period of last year. Net income in the quarter tumbled 43% to $35.5 million or 42 cents a diluted share compared to $62.1 million or 73 cents a share a year ago period.

WellPoint, Inc. ((WLP)) dropped 4.1% or $2.52 to $58.67 after the health benefit company reported net revenues in the third quarter ending in September grew to $15.1 billion from $15.2 billion in the same period of last year. Net income in the quarter edged up 1.2% to $691.2 million or $2.15 a diluted share compared to $683.2 million or $1.90 a share a year ago.