Morgan Stanley Net Surges, J&J Profit Plunges

Mukesh Buch
20 Jan, 2015
New York City

Baker Hughes net surged 167% on 13% increase in revenues. Delta Air Lines net swung to a loss. Halliburton net and revenues climbed 14%. iGATE net jumped 15% on 11% increase in revenues. Johnson & Johnson net plunged 28%. Morgan Stanley net surged to $920 million.

[R]12:00 PM New York – Baker Hughes net surged 167% on 13% increase in revenues. Delta Air Lines net swung to a loss. Halliburton net and revenues climbed 14%. iGATE net jumped 15% on 11% increase in revenues. Johnson & Johnson net plunged 28%. Morgan Stanley net surged to $920 million.[/R]

Tollbooth Index fell 0.4% or 35.01 to 9,792.30.

Earnings Review

Baker Hughes Inc ((BHI)) slipped 2.2% or $1.27 to $55.29 after the oilfield service provider reported revenues in the fourth-quarter ending in December climbed 13.3% to $6.64 billion from a year ago period.

Net income in the quarter surged 167.3% to $663 million or $1.52 a diluted share compared to $248 million or 56 cents from the same quarter last year.

Delta Air Lines, Inc ((DAL)) climbed 4.6% or $2.11 to $47.94 after the airline company said total revenues in the fourth-quarter ending in December jumped 6% to $9.65 billion from a year ago period.

Net in the quarter swung to a loss of $712 million or 56 cents a diluted share compared to profit of $8.45 billion or $9.89 from the same quarter last year.

The company said GAAP tax benefit in the quarter of $428 million, down $7.6 billion from the quarter ended in December 2013, due to the release of the company''s tax valuation allowance at the end of 2013.

Halliburton Company ((HAL)) slumped 1.7% or 68 cents to $38.45 after the oilfield service provider reported total revenues in the fourth-quarter ending in December soared 14.8% to $8.77 billion from a year ago period.

Net income in the quarter climbed 13.6% to $901 million or $1.06 a diluted share compared to $793 million or 93 cents from the same quarter last year.

iGATE Corporation ((IGTE)) tumbled 19.5% or $8.27 to $34.09 after the outsourcing service provider said revenues in the revenues in the fourth-quarter ending in December advanced 10.7% to $331.5 million from a year ago period.

Net income in the quarter jumped 14.6% to $38 million or 63 cents a diluted share compared to $33.1 million or 30 cents from the same quarter last year.

Johnson & Johnson ((JNJ)) dropped 2.8% or $2.95 to $101.12 after the health care product maker reported sales in the fourth-quarter ending in December fell 0.6% to $18.25 billion.

Net earnings in the quarter plunged 28.4% to $2.52 billion or $1.27 a diluted share compared to $3.52 billion or $1.24 from the same quarter last year.

Morgan Stanley ((MS)) fell 1.7% or 59 cents to $34.30 after the financial service provider reported net revenues in the fourth-quarter ending in December fell 1% to $7.76 billion from a year ago period.

Net income in the quarter surged to $920 million or 47 cents a diluted share compared to $36 million or 2 cents from the same quarter last year.

Regions Financial Corp ((RF)) declined 3.6% or 32 cents to $8.74 after the retail and mortgage banking service provider stated total revenues in the fourth-quarter ending in December slumped 6.6% to $1.27 billion a year ago period.

Net income in the quarter plummeted 10.9% to $195 million or 14 cents a diluted share compared to $219 million or 17 cents from the same quarter last year.