International Paper Rises; eBay, Exelon, Glaxo, Twitter Decline

Mukesh Buch
30 Apr, 2014
New York City

eBay net swung to a loss but sales soared 14%. Exelon net swung to a profit and revenue climbed 19%. Glaxo profit plunged after sales declined. International Paper net swung to a loss. Time Warner profit climbed 71%. Twitter net loss widened.

[R]12:45 PM New York – eBay net swung to a loss but sales soared 14%. Exelon net swung to a profit and revenue climbed 19%. Glaxo profit plunged after sales declined. International Paper net swung to a loss. Time Warner profit climbed 71%. Twitter net loss widened.[/R]

eBay Inc ((EBAY)) plunged 5.1% or $2.79 to $51.75 after the online marketplaces provider reported revenue in the first-quarter ending in March soared 14% to $4.3 billion.

Net in the quarter swung to a loss $2.3 billion or $1.82 a diluted share compared to a profit of $677 million or 51 cents.

eBay said total company enabled commerce volume in the quarter climbed 24% to $58 billion. Mobile e-commerce volume surged 70% to $11 billion representing 19% of volume.

Mobile apps downloads since inception exceeded 240 million and attracted 6.5 million new customers in the quarter. Cross-border trade grew 24%, representing $13 billion, or increased 22%.

Exelon Corporation ((EXC)) declined 4.3% or $1.55 to $34.63 after the electricity provider said revenue in the first-quarter ending in March climbed 19.1% to $7.24 billion.

Net in the quarter swung to a profit $90 million or 10 cents a diluted share compared to a loss of $4 million or 1 cent.

Separately, today the company signed a definitive agreement to acquired Pepco Holdings Inc to combine the two companies in an all-cash transaction at $27.25 per share, representing a premium of 24.7%.

GlaxoSmithKline Plc slipped 2.1% or $1.23 to $55.16 after the U.K.-based healthcare group reported sales in the first-quarter ending in March declined 13.3% to $9.32 billion.

Net income in the quarter plunged 30.1% to $1.19 billion and diluted earnings per share were 22.7 cents a year earlier.

International Paper Company ((IP)) jumped 2.5% or $1.15 to $47.05 after the paper and packaging company stated revenue in the first-quarter ending in March slid to $7 billion from $7.1 billion a year ago.

Net in the quarter swung to a loss $95 million or 21 cents a diluted share compared to a profit of $318 million or 71 cents.

The Southern Company ((SO)) fell 36 cents to $46 after the electricity provider reported total revenue in the first-quarter ending in March soared 18.9% to $4.64 billion.

Net income in the quarter surged 279.4% to $368 million or 39 cents a diluted share compared to $97 million or 9 cents.

Time Warner Inc ((TWX)) gained 1.1% or 72 cents to $65.46 after the media conglomerate provider reported revenue in the first-quarter ending in March jumped 10% to $7.54 billion.

Net income in the quarter climbed 71% to $1.29 billion or $1.42 a diluted share compared to $754 million or 79 cents.

Twitter Inc ((TWTR)) plummeted 10.1% or $4.31 to $38.32 after the social media platform provider said revenue in the first-quarter ending in March climbed 119% to $250 million.

Net loss in the quarter widened to $132.4 million or 23 cents a diluted share compared to $27 million or 21 cents.

VistaPrint Limited ((VPRT)), the Netherlands-based printing services provider said revenue in the third-quarter ending in March fell 1% to $286.2 million.

Net income in the quarter plunged 77% to $1.4 million or 4 cents a diluted share compared to $5.9 million or 17 cents.

The company lifted its revenue guidance for the year between $1.25 billion and $1.27 billion and net income per diluted share of approximately in the range of $1 to $1.15.