U.S. Movers: 3M, Apple, Amgen, Bristol-Myers, Lockheed Martin, Raytheon

Mukesh Buch
24 Jan, 2013
New York City

Apple said first quarter net was nearly flat. Bristol-Myers fourth quarter net jumped 9% and Lockheed Martin profit dropped 17%. Union Pacific quarterly net jumped 7% to $1.04 billion.

[R]10:15 AM New York – Apple said first quarter net was nearly flat. Bristol-Myers fourth quarter net jumped 9% and Lockheed Martin profit dropped 17%. Union Pacific quarterly net jumped 7% to $1.04 billion.[/R]

3M Company ((MMM)) gained 10 cents to $99.59 after the diversified technology reported total sales in the fourth quarter ending in December grew 4% to $7.39 billion from $7.09 billion in the same period of last year. Net earnings in the quarter advanced 4% to $991 million or $1.41 per diluted share compared to $954 million or $1.35 a share a year ago earlier.

Four out of six business segments posted full year growth, led by health care at 4.7% and industrial and transportation 4.5%. Latin America and Canada division sales climbed 10.9% followed by the sales in the U.S. at 4.2%.

The company anticipates 2013 earnings to be in the range of $6.70 to $6.95 per share.

Apple Inc. ((AAPL)) plunged 11.3% or $58.47 to $455.72 after the mobile and media device maker said total revenue in the first quarter ending on December 29 soared 18% to $54.51 billion from $46.33 billion in the same period of last year. Net earnings in the quarter were nearly flat at $13.08 billion or $13.81 per diluted share compared to $13.06 billion or $13.87 a share a year ago.

Apple said gross margin declined 38.6% from 44.7% in the year ago period but sold record 47.8 million iPhones and 22.9 million iPads compared to 37 million and 15.4 million respectively from a year ago. Sales of iPods declined to 12.7 million compared to 15.4 million in the year ago quarter.

Apple provides revenue guidance for fiscal 2013 second quarter in the range of $41 billion to $43 billion and gross margin between 37.5% and 38.5%.

Amgen Inc. ((AMGN)) gained 13 cents to $83.25 after the biotech firm said total revenues in the fourth quarter ending in December jumped 11% to $4.42 billion from $3.97 billion in the same period of last year. Net earnings in the quarter declined 16% to $788 million or $1.01 per diluted share compared to $934 million or $1.08 a share a year ago earlier.

For the fiscal 2013, the company expects total revenues in the range of $17.8 billion to $18.2 billion and adjusted earnings per share between $6.85 and $7.15.

Bristol-Myers Squibb Company ((BMY)) climbed 2.4% or 85 cents to $35.75 after the biopharmaceutical reported total sales in the fourth quarter ending in December declined 23% to $4.19 billion from $5.45 billion in the same period of last year. Net earnings in the quarter jumped 9% to $925 million or 56 cents per diluted share compared to $852 million or 50 cents a share a year ago.

The company said U.S. net sales in the quarter declined 38% to $2.2 billion.

Bristol-Myers Squibb expects 2013 GAAP earnings per share in the range of $1.54 to $1.64 and worldwide sales between $16.2 billion and $17.0 billion.

Baxter International Inc. ((BAX)) increased 1.1% or 77 cents to $67.36 after the healthcare company stated net sales in the fourth quarter ending in December rose 4% to $3.75 billion from $3.59 billion in the same period of last year. Net income in the quarter climbed 7% to $494 million or 89 cents per diluted share compared to $463 million or 82 cents a share a year ago period.

For the first quarter, the company expects sales growth of nearly 2% to 3% and earnings per diluted share in the range of $1.03 to $1.05.

In a separate statement, the company said it agreed to acquire the investigational hemophilia compound OBI-1 and related assets from Inspiration BioPharmaceuticals, Inc. for $50 million.

Lockheed Martin Corporation ((LMT)) slumped 2.7% or $2.59 to $93.48 after the security and aerospace company reported net sales in the fourth quarter ending in December slid 2% to $12.1 billion from $12.21 billion in the same period of last year. Net earnings in the quarter declined 35% to $569 million or $1.73 per diluted share compared to $683 million or $2.09 a share a year ago.

The company expects net sales for the fiscal 2013 between $44.5 billion and $46 billion and earnings per diluted share from continuing operations in the range of $8.80 to $9.10.

Netflix, Inc. ((NFLX)) surged 40.8% or $42.23 to $145.49 the broadcasting and cable TV operator stated total sales in the fourth quarter ending in December grew 2% to $945.3 million from $875.6 million in the same period of last year. Net income in the quarter declined 77% to $8 million or 13 cents per diluted share compared to $35.2 million or 64 cents a share a year ago period.

Raytheon Company ((RTN)) slipped 2.2% or $1.31 to $56.84 after the technology company said total sales in the fourth quarter ending in December edged up to $6.44 billion from $6.42 billion in the same period of last year. Net income in the quarter rose 1% to $469 million or $1.42 per diluted share compared to $543 million or $1.57 a share a year ago quarter.

Stanley Black & Decker Inc. ((SWK)) decreased 1.2% or 95 cents to $77.07 after the mechanical device maker stated total sales in the fourth quarter ending in December grew 4% to $2.67 billion from $2.57 billion in the same period of last year. Net income in the quarter rose 1% to $492.1 million or $2.99 per diluted share compared to $164 million or 98 cents a share a year ago period.

For the fiscal 2013, the company expects earnings per share between $4.62 and $4.87.

Union Pacific Corporation ((UNP)) slid 85 cents to $134.50 after the transportation company reported total sales in the fourth quarter ending in December grew 3% to $5.25 billion from $5.11 billion in the same period of last year. Net earnings in the quarter jumped 7% to $1.04 billion or $2.19 per diluted share compared to $964 million or $1.99 a share a year ago earlier.