Baker Hughes, Dow, Delta Air Jump; Halliburton, J&J Drop

Mukesh Buch
21 Jan, 2014
New York City

Baker Hughes net soared 16%. Dow Chemical surged after on media reports that an activist investor took a significant position. Delta net surged on $8 billion tax valuation allowance. Halliburton net climbed 19%. J&J net surged 35%. Verizon net swung to a profit.

[R]10:55 AM New York – Baker Hughes net soared 16%. Dow Chemical surged after on media reports that an activist investor took a significant position. Delta net surged on $8 billion tax valuation allowance. Halliburton net climbed 19%. J&J net surged 35%. Verizon net swung to a profit.[/R]

Baker Hughes Inc ((BHI)) gained 2.4% or $1.71 to $55.85 after the oilfield services supplier said revenues in the fourth-quarter ending in December climbed 10% to $5.86 billion.

Net income in the quarter soared 16% to $248 million or 56 cents a diluted share compared to $214 million or 49 cents.

The Dow Chemical Company ((DOW)) surged 7.2% or $3 to $46.05 on media reports that an activist investor Daniel Loeb take a significant position in diversified chemicals maker. The stake is the third largest in the fund Third Point controlled by Loeb.

Delta Air Lines, Inc. ((DAL)) jumped 3.7% or $1.15 to $32.22 after the air transportation company reported revenue in the fourth-quarter ending in December jumped 6% to $9.08 billion.

Net income in the quarter surged to $8.5 billion or $9.89 a diluted share compared to $7 million or 1 cent.

The airlines company said the results include $8 billion non-cash gain associated with the reversal of the company's tax valuation allowance.

Halliburton Company ((HAL)) dropped 2.4% or $1.01 to $49.65 after the oilfield services provider stated total revenues in the fourth-quarter ending in December increased 1.3% to $7.6 billion.

Net income in the quarter climbed 19% to $793 million or 93 cents a diluted share compared to $669 million or 72 cents.

Johnson & Johnson ((JNJ)) declined 1.8% or $1.71 to $93.30 after the health care company reported sales in the fourth-quarter ending in December jumped 4.5% to $18.4 billion.

Net income in the quarter surged 35% to $3.5 billion or $1.23 a diluted share compared to $2.6 billion or 91 cents.

Travelers Companies Inc ((TRV)) slipped 1.5% or $1.27 to $85.15 after the insurance company said total revenue in the fourth-quarter ending in December jumped 4% to $6.74 billion.

Net income in the quarter surged to $988 million or $2.70 a diluted share compared to $304 million or 78 cents.

Verizon Communications Inc. ((VZ)) slipped 1.3% or 63 cents to $47.84 after the communications information provider said total revenues in the fourth-quarter ending in December jumped 3.4% to $30.01 billion.

Net in the quarter swung to a profit $7.92 billion or $1.76 a diluted share compared to a loss of $1.93 billion or $1.48.