U.S. Movers: Abbott, General Dynamics, Google, IBM, McDonald

Mukesh Buch
23 Jan, 2013
New York City

Abbott fourth quarter net declined 35% and General Dynamics net swung to $603 million profit. Google profit jumped 7% and IBM net climbed 6%. McDonald

[R]10:15 AM New York – Abbott fourth quarter net declined 35% and General Dynamics net swung to $603 million profit. Google profit jumped 7% and IBM net climbed 6%. McDonald’s fourth quarter net rose 1% and WellPoint quarterly net jumped 57%.[/R]

Abbott Laboratories ((ABT)) slid 5 cents to $32.88 after the health care products maker reported total sales in the fourth quarter ending in December slid 1% to $10.84 billion from $10.38 billion in the same period of last year. Net earnings in the quarter declined 35% to $1.05 billion or 66 cents per diluted share compared to $1.62 billion or $1.02 a share a year ago earlier.

Abbott added worldwide nutrition sales advanced 10% and proprietary pharmaceuticals sales increased 8.5%.

The company said adjusted gross margin ratio in the fourth quarter dropped 63.3% which represents fell of 50 basis points from the prior year.

Coach, Inc. ((COH)) plunged 15.1% or $9.28 to $51.35 after the fine accessories and gifts retailer stated total revenue in the second quarter ending on December 29 rose 4% $1.50 billion from $1.45 billion in the same period of last year. Net income in the quarter advanced 2% to $353 million or $1.23 per diluted share compared to $347 million or $1.18 a share a year ago period.

The retailer reported gross margin is remained strong at 72.2% compared to year ago. The company added further, sales in total North American increased 1%, to $1.08 billion and international sales climbed 12% to $411 million.

General Dynamics Corporation ((GD)) dropped 3.1% or $2.23 to $68.52 after the aerospace and defense products provider said revenues in the fourth quarter ending in December declined 12% to $9.15 billion from $8.08 billion in the same period of last year. Net income in the quarter swung to $603 million or $1.68 per diluted share compared to net loss of $2.13 billion or $6.07 a share a year ago.

The company’s total backlog was $51.3 billion at the end of 2012 and estimated potential contract value of $26.9 billion and total potential contract value, the sum of all backlog components, was $78.1 billion.

Google Inc. ((GOOG)) climbed 6.1% or $43.05 to $745.92 after the technology company reported total revenues in the fourth quarter ending in December climbed 36% to $14.42 billion from $10.58 billion in the same period of last year. Net income in the quarter jumped 7% to $2.89 billion or $8.62 per diluted share compared to $2.71 billion or $8.22 a share a year ago.

Google said advertising revenues in the quarter without deducting traffic acquisition costs increased 25% to $3.08 billion and owned sites revenues surged 67% to $8.64 billion. Network revenues soared 27% of total Google revenues to $3.44 billion and operating income for Google was jumped 29% to $3.75 billion.

International Business Machines Corporation ((IBM)) advanced 6.1% or $11.83 to $207.79 after the information technology provider reported total revenues in the fourth quarter ending in December dropped 1% to $29.30 billion from $29.49 billion in the same period of last year. Net income in the quarter climbed 6% to $5.83 billion or $5.13 per diluted share compared to $5.49 billion or $4.62 a share a year ago.

In the quarter, software segment revenue rose 3% to $7.9 billion and revenue from hardware segment fell 1% to $5.8 billion and gross profit margin increased 51.8% from 49.9% a year ago.

IBM expects to deliver full-year 2013 GAAP earnings per share of at least $15.53.

Intuitive Surgical, Inc ((ISRG)) jumped 8.5% or $44.10 to $562.62 after the surgical instruments maker said total revenue in the fourth quarter ending in December jumped 1% to $609.3 million from $496.8 million in the same period of last year. Net income in the quarter increased 4% to $174.9 million or $4.25 per diluted share compared to $151.2 million or $3.75 a share a year ago earlier.

The company said instruments and accessories revenue in the quarter surged 29% to $254 million and systems revenue soared 18% to $265 million.

McDonald’s Corporation ((MCD)) slipped 8 cents to $92.87 after the restaurants operator stated total sales in the fourth quarter ending in December grew 2% to $6.95 billion from $6.82 billion in the same period of last year. Fourth quarter comparable sales increased 0.3% and global comparable sales in the quarter increased 0.1%.

For the year, global comparable sales increased 3.1%, in the U.S. grew 3.3%, Europe gained 2.4% and Asia/Pacific, Middle East and Africa rose 1.4%

Net income in the quarter rose 1% to $1.40 billion or $1.38 per diluted share compared to $1.38 billion or $1.33 a share a year ago period.

United Technologies Corporation ((UTX)) gained 44 cents to $87.91 after the aerospace products provider reported net sales in the fourth quarter ending in December soared 14% to $16.44 billion from $14.38 billion in the same period of last year. Net income in the quarter surged to $2.06 billion or $2.26 per diluted share compared to $1.32 billion or $1.47 a share a year ago.

WellPoint, Inc. ((WLP)) increased 1% or 66 cents to $63.97 after the health benefit company said total revenue in the fourth quarter ending in December grew 1% to $15.54 billion from $15.32 billion in the same period of last year. Net income in the quarter jumped 57% to $464.2 million or $1.51 per diluted share compared to $335.3 million or 96 cents a share a year ago.