Norfolk Southern Rises; Abbott, Coach, IBM, Parker-Hannifin Fall

Mukesh Buch
22 Jan, 2014
New York City

Abbott net tumbled 44%. CA net dropped 8% and revenue fell 25. General Dynamics net swung to a loss. IBM profit jumped 6%. Norfolk Southern net climbed 24%. Texas Inst net soared 94% to $511 million.

[R]10:55 AM New York – Abbott net tumbled 44%. CA net dropped 8% and revenue fell 25%. General Dynamics net swung to a loss. IBM profit jumped 6%. Norfolk Southern net climbed 24%. Texas Instruments net soared 94% to $511 million.[/R]

Abbott Laboratories ((ABT)) slid 2.7% or $1.17 to $37.95 after the pharmaceutical company reported net sales in the fourth-quarter ending in December rose 0.4% to $5.66 billion.

Net earnings in the quarter tumbled 44% to $589 million or 37 cents a diluted share compared to $1.05 billion or 66 cents.

CA, Inc. ((CA)) gained 1.5% or 51 cents to $34.77 after the software company said total revenues in the third-quarter ending in December decreased 2.5% to $1.16 billion.

Net income in the quarter dropped 8% to $232 million or 51 cents a diluted share compared to $251 million or 55 cents.

Coach, Inc. ((COH)) declined 5.9% or $3.49 to $49.06 after the retailer stated net sales in the second-quarter ending on December 28 declined 5% to $1.42 billion.

Net income in the quarter plunged 16% to $297.4 million or $1.06 a diluted share compared to $352.8 million or $1.23.

General Dynamics Corporation ((GD)) rose 67 cents to $95.97 after the aerospace and defense service provider reported revenue in the fourth-quarter ending in December rose 0.4% to $8.08 billion.

Net in the quarter swung to a loss $2.13 billion or $6.07 a diluted share compared to a profit of $495 million or $1.40.

The company said total backlog at the end of the year was $46 billion.

International Business Machines Corporation ((IBM)) declined 3.3% or $6.26 to $182.18 after the technology services provider reported total revenues in the fourth-quarter ending in December dropped 5.5% to $27.7 billion.

Net income in the quarter jumped 6% to $6.19 billion or $5.73 a diluted share compared to $5.83 billion or $5.13.

Norfolk Southern Corporation ((NSC)) soared 6.2% or $5.52 to $94.23 after the rail transportation service provider stated revenue in the fourth-quarter ending in December jumped 7.5% to $2.88 billion.

Net income in the quarter climbed 24.2% to $513 million or $1.64 a diluted share compared to $413 million or $1.30.

Parker-Hannifin Corporation ((PH)) dropped 3.4% or $4.38 to $122.44 after the electromechanical control systems maker said sales in the second-quarter ending in December grew 1.3% to $3.11 billion.

Net income in the quarter surged 40% to $253.3 million or $1.66 a diluted share compared to $181 million or $1.19.

Texas Instruments Inc ((TXN)) gained 1.4% or 62 cents to $44.47 after the semiconductor maker reported revenue in the fourth-quarter ending in December rose 1.7% to $3.03 billion.

Net income in the quarter soared 93.6% to $511 million or 46 cents a diluted share compared to $264 million or 23 cents.