Cummins, Merck Jump; ADM, Bristol-Myers, Coach, Rockwell Drop

Mukesh Buch
29 Apr, 2014
New York City

Archer Daniels net fell and sales dropped 5%. Bristol-Myers profit surged 54% but revenues slid. Cummins net declined 7% but revenues climbed 12%. Coach net and sales plunged. Merck profit slipped 7.5%. Rockwell net and sales jumped. Valero net climbed 27%.

[R]12:15 PM New York – Archer Daniels net fell and sales dropped 5%. Bristol-Myers profit surged 54% but revenues slid. Cummins net declined 7% but revenues climbed 12%. Coach net and sales plunged. Merck profit slipped 7.5%. Rockwell net and sales jumped. Valero net climbed 27%.[/R]

Archer Daniels Midland Company ((ADM)) declined 3.2% or $1.42 to $42.96 after the food processing company reported sales in the first-quarter ending in March slipped 4.7% to $20.70 billion.

Net income in the quarter fell 0.7% to $267 million or 40 cents a diluted share compared to $269 million or 41 cents.

Bristol-Myers Squibb Co ((BMY)) dropped 3.3% or $1.65 to $48.71 after the biopharmaceutical company stated revenue in the first-quarter ending in March slid 1% to $3.81 billion.

Net income in the quarter surged 53.9% to $937 million or 56 cents a diluted share compared to $609 million or 37 cents.

Separately, today the biopharmaceutical company said it has agreed to acquire iPierian, Inc. for $175 million in cash.

Cummins Inc ((CMI)) climbed 3.1% or $4.47 to $149.67 after the power generation systems maker said revenue in the first-quarter ending in March climbed 12% to $4.41 billion.

Net income in the quarter declined 7.5% to $338 million or $1.83 a diluted share compared to $282 million or $1.49.

Coach Inc ((COH)) plummeted 8.3% or $4.19 to $46.24 after the handbags and accessories retailer stated net sales in the third-quarter ending on March 29 slumped 7.5% to $1.10 billion.

Net income in the quarter plunged 20.2% to $190.7 million or 68 cents a diluted share compared to $238.9 million or 84 cents.

Merck & Co., Inc. ((MRK)) jumped 2.8% or $1.60 to $58.26 after the health care company reported sales in the first-quarter ending in March dropped 4% to $10.26 billion.

Net income in the quarter declined 7.5% to $1.71 billion or 57 cents a diluted share compared to $1.59 billion or 52 cents.

Rockwell Automation ((ROK)) plunged 6.4% or $7.93 to $116.60 after the industrial automation power provider said total sales in the second-quarter ending in March jumped 5% to $1.60 billion.

Net income in the quarter rose 2.5% to $180.3 million or $1.28 a diluted share compared to $175.9 million or $1.24.

Valero Energy Corporation ((VLO)) fell 29 cents to $57.67 after the petroleum products refiner stated revenue in the first-quarter ending in March edged up 0.5% to $33.66 billion.

Net income in the quarter climbed 26.6% to $828 million or $1.54 a diluted share compared to $654 million or $1.18.