Daimler Sales Rise 6%, STMicro Swings to Profit

Nigel Thomas
23 Jul, 2014
New York City

ABB net declined 18% to $1.2 billion. Daimler net plunged 52% to

[R]4:00 PM Frankfurt – ABB net declined 18% to $1.2 billion. Daimler net plunged 52% to €2.2 billion but revenue climbed 6% to €32 billion. Johnson Matthey underlying profit declined 11% to £104 million. Renishaw profit soared 28% to £86 million. STMicroelectronics net swung to profit $38 million.[/R]

In London trading, FTSE 100 index nearly flat at 6,795.42 and in Frankfurt the DAX index edged up 0.1% or 12.69 to 9,747.02.

In Paris, CAC 40 index rose 0.2% or 8.75 to 4,378.27.

ABB Ltd gained 0.3% to 21.11 francs after the Switzerland-based robots and power transformers maker reported revenue in the first-half ending in June jumped fell 1.4% to $19.66 billion from $19.94 billion a year ago.

Net income in the period declined 17.5% from a year earlier to $1.18 billion compared to $1.43 billion and diluted earnings per share slumped to 51 cents from 62 cents.

Order backlog in the second-quarter climbed 6% to $20.92 billion from $19.80 billion a year ago.

Daimler AG rose 0.6% to €66.49 after the Germany-based automobile company reported revenue in the second-quarter ending in June climbed 6% to €31.5 billion from €29.7 billion a year ago period.

Net income in the quarter plunged 52.2% from a year ago to €2.2 billion compared to €4.6 billion and earnings per share dropped to €1.97 from €2.65.

Daimler said worldwide passenger cars and trucks sales in the quarter jumped 4% to 628,900 units from a year earlier.

Johnson Matthey Plc slipped 1.2% to 3,022 pence after the U.K.-based specialty chemicals maker sales in the first-quarter ending in June edged up to £749 million from £745 million a year ago.

The group’s underlying operating profit declined 11% to £103.6 million compared to £116.1 million a year ago period.

Renishaw Plc surged 19.1% to 1,750 pence after the U.K.-based metrology company stated revenue in the year ending in June increased 2% to £355.5 million from £346.9 million a year earlier.

Profit in the year soared 27.7% from a year ago to £85.7 million compared to £67.1 million and diluted earnings per share jumped to 118.4 pence from 92.9 pence.

STMicroelectronics NV declined 5% to €6.64 after the Switzerland-based semiconductors maker said net revenue in the second-quarter ending on June 28 declined 8.8% to $1.86 billion from $2.04 billion a year ago period.

Net in the quarter swung to profit from a year earlier to $38 million compared to a loss of $152 million and diluted earnings per share swung to 4 cents from a diluted loss per share of 17 cents.