Incyte, Kellogg, MasterCard, Visa Jump; Avon, Facebook Drop

Mukesh Buch
30 Oct, 2014
New York City

Avon and Incyte net swung to profit. Catamaran net jumped 12%. Facebook profit almost doubled on 58% increase in revenue. Harman Intl net soared 79%. Kellogg net declined 31%. MasterCard profit and revenue soared. Visa net plunged 10% but revenue jumped 9%.

[R]1:05 PM New York – Avon and Incyte net swung to profit. Catamaran net jumped 12%. Facebook profit almost doubled on 58% increase in revenue. Harman Intl net soared 79%. Kellogg net declined 31%. MasterCard profit and revenue soared. Visa net plunged 10% but revenue jumped 9%.[/R]

Tollbooth Index gained 0.9% or 90.74 to 9,509.83.

Earnings Review

Avon Products, Inc ((AVP)) plunged 7% or 77 cents to $10.19 after the fragrance, skincare and personal care maker said total revenue in the third-quarter ending in September declined 8% to $2.1 billion from a year ago period.

Net in the quarter swung to profit $91.4 million or 21 cents a diluted share compared to a loss of $5.5 million or 1 cent from a same quarter last year.

Catamaran Corp ((CTRX)) climbed 8.5% or $3.57 to $45.69 after the healthcare service provider stated revenue in the third-quarter ending in September surged 53% to $5.5 billion from a year ago period.

Net income in the quarter jumped 12% to $82 million or 39 cents a diluted share compared to $72.9 million or 35 cents from a same quarter last year.

Facebook Inc ((FB)) dropped 2.9% or $2.20 to $73.65 after the social media network service provider reported revenue in the third-quarter ending in September soared 58.4% to $3.20 billion from a year ago period.

Net income in the quarter jumped almost double to $802 million or 30 cents a diluted share compared to $422 million or 17 cents from a same quarter last year.

Harman International Industries Inc ((HAR)) jumped 4.8% or $4.93 to $106.24 after the audio and electronic systems maker stated net sales in the first-quarter ending in September surged 22% to $1.4 billion from a year ago period.

Net income in the quarter soared 79% to $83 million or $1.18 a diluted share compared to $46 million or 66 cents from a same quarter last year.

Incyte Corporation ((INCY)) soared 10.3% or $5.96 to $63.83 after the biopharmaceutical company said total revenue in the third-quarter ending in September advanced 132.8% to $198.1 million from a year ago period.

Net in the quarter swung to profit $59.3 million or 33 cents a diluted share compared to a loss of $22 million or 14 cents from a same quarter last year.

Kellogg Company ((K)) jumped 3.2% or $1.99 to $64.45 after the ready-to-eat cereal maker reported net sales in the third-quarter ending in September fell 2.1% to $3.64 billion from a year ago period.

Net earnings in the quarter declined 31% to $224 million or 62 cents a diluted share compared to $326 million or 90 cents from a same quarter last year.

MasterCard Inc ((MA)) climbed 7.2% or $5.46 to $81.45 after the payments service provider reported total revenue in the third-quarter ending in September jumped 13% to $2.50 billion from a year ago period.

Net income in the quarter soared 15% to $1 billion or 87 cents a diluted share compared to $879 million or 73 cents from a same quarter last year.

Visa Inc ((V)) surged 9% or $19.34 to $234.09 after the electronic payments service provider reported total revenue in the fourth-quarter ending in September climbed 8.7% to $3.23 billion from a year ago period.

Net income in the quarter plunged 10% to $1.07 billion or $1.72 a diluted share compared to $1.19 billion or $1.85 from a same quarter last year.

The company announced a stock buyback program of $5 billion.