American Express, Morgan Stanley Rise; GE, Intel Fall

Mukesh Buch
17 Jan, 2014
New York City

American Express net doubled. Carlyle agreed to acquire Ortho-Clinical business of J&Johnson for $4.15 billion. GE net jumped 5%. Morgan Stanley net plunged 85% but revenue jumped 11%. Intel net advanced 6%. Schlumberger net surged 22%.

[R]12:20 PM New York – American Express net doubled. Carlyle agreed to acquire Ortho-Clinical business of J&Johnson for $4.15 billion. GE net jumped 5%. Morgan Stanley net plunged 85% but revenue jumped 11%. Intel net advanced 6%. Schlumberger net surged 22%.[/R]

American Express Company ((AXP)) climbed 5.6% or $4.88 to $92.69 after the consumer lender said total revenues in the fourth-quarter ending in December climbed 5% to $8.55 billion.

Net income in the quarter surged 105.3% to $1.3 billion or $1.21 a diluted share compared to $637 million or 56 cents.

The Carlyle Group LP ((CG)) fell 9 cents to $36.83 after the investment manager agreed to acquire Ortho-Clinical Diagnostics business of Johnson & Johnson for $4.15 billion.

The transaction is expected to close in the middle of this year.

General Electric Company ((GE)) slipped 2.8% or 76 cents to $26.45 after the diversified technology and financial services provider reported revenue in the fourth-quarter ending in December grew 3% to $40.4 billion.

Net income in the quarter jumped 5% to $4.20 billion or 42 cents a diluted share compared to $4.01 billion or 41 cents.

For the year, GE said revenue slid less than 1% to $146.05 billion and net income rose 3% to $14.06 billion.

GECC revenues of dropped 5% to $11.1 billion, for the year revenues fell 3% to $44.1 billion.

For the year total revenues and sales in industrial segment were flat at $146 billion and $101 billion respectively from a year ago. Industrial segment profits rose 12% to $5.5 billion.

Intel Corporation ((INTC)) slipped 3.3% or 86 cents to $25.67 after the chip maker reported net sales in the fourth-quarter ending in December increased 3% to $13.8 billion.

Net income in the quarter advanced 6% to $2.6 billion or 51 cents a diluted share compared to $2.5 billion or 48 cents.

Morgan Stanley ((MS)) climbed 4.3% or $1.37 to $33.36 after the brokerage company reported revenue in the fourth-quarter ending in December jumped 11.4% to $7.8 billion.

Net income in the quarter plunged 85% to $133 million or 7 cents a diluted share compared to $568 million or 29 cents.

M&T Bank Corporation ((MTB)) dropped 2.4% or $2.77 to $111.90 after the bank said Net interest income in the fourth-quarter ending in December slid 0.1% to $666.5 million.

Net income in the quarter dropped 17% to $245.7 million or $1.74 a diluted share compared to $296.2 million or $2.16.

Schlumberger Limited ((SLB)) gained 1.5% or $1.35 to $89.96 after the oil and gas exploration technology supplier said revenue in the fourth-quarter ending in December climbed 7.5% to $11.91 billion.

Net income in the quarter surged 22% to $1.66 billion or $1.26 a diluted share compared to $1.36 billion or $1.02.

For the year, revenue jumped 8% to $45.27 billion and net income soared 22.6% to $6.73 billion.