Apple, Boeing, Yahoo Jump; AT&T Net Swings to a Loss

Mukesh Buch
28 Jan, 2015
New York City

Apple net surged 38% on 30% increase in revenues. AT&T net swung to a loss of $3.9 billion. Boeing profit jumped 19%. General Dynamics net soared 42%. Yahoo soared 109% and will spin off its remaining stake in Alibaba.

[R]12:00 PM New York – Apple net surged 38% on 30% increase in revenues. AT&T net swung to a loss of $3.9 billion. Boeing profit jumped 19%. General Dynamics net soared 42%. Yahoo soared 109% and will spin off its remaining stake in Alibaba.[/R]

Tollbooth Index gained 0.4% or 42.61 to 10,078.26.

Earnings Review

Ametek, Inc. ((AME)) rose 0.5% or 24 cents to $49.24 after the electromechanical device maker said net sales in the fourth-quarter ending in December advanced 9% to $1.02 billion from a year ago period.

Net income in the quarter climbed 12% to $152 million or 62 cents a diluted share compared to $135.7 million or 55 cents from the same quarter last year.

American Electric Power Company, Inc. ((AEP)) gained 1.1% or 66 cents to $64.91 after the power distributor reported net revenues in the fourth-quarter ending in December rose 5.1% to $4 billion from a year ago period.

Net income in the quarter plunged 44.7% to $191 million or 39 cents a diluted share compared to $346 million or 71 cents from the same quarter last year.

Apple Inc ((AAPL)) surged 7.2% or $7.85 to $116.86 after the mobile device maker reported net sales in the first-quarter ending in December soared 29.5% to $74.60 billion a year ago period.

Net income in the quarter surged 37.9% to $18.02 billion or $3.06 a diluted share compared to $13.07 billion or $2.07 from the same quarter last year.

During the quarter Apple sold 74.5 million iPhone devices and iPhone revenues jumped 57% to $51.2 billion from a year ago. iPad unit sales declined 18% to 21.4 million.

The company said sales in the Americas region soared 23% and revenues in Europe climbed 20% and sales from Greater China surged to 70%.

Apple forecasted revenues for the second-quarter between $52 billion and $55 billion and gross margin in the range of 38.5% to 39.5%.

AT&T Inc ((T)) increased 1% or 34 cents to $33.15 after the communications service provider said revenues in the fourth-quarter ending in December jumped 3.8% to $34.44 billion a year ago period.

Net in the quarter swung to a loss of $3.98 billion or 77 cents a diluted share compared to profit of $6.91 billion or $1.31 from the same quarter last year.

The Boeing Company ((BA)) climbed 4.6% or $6.06 to $138.52 after the aerospace company reported net sales in the fourth-quarter ending in December increased 3% to $24.5 billion from a year ago period.

Net earnings in the quarter jumped 19% to $1.47 billion or $2.02 a diluted share compared to $1.23 billion or $1.61 from the same quarter last year.

General Dynamics Corporation ((GD)) rose $1.34 to $138.54 after the aerospace and defense contractor stated revenues in the fourth-quarter ending in December climbed 3.9% to $8.36 billion a year ago period.

Net earnings in the quarter soared 41.6% to $701 million or $2.09 a diluted share compared to $495 million or $1.40 from the same quarter last year.

Yahoo! Inc ((YHOO)) gained 1.8% or 88 cents to $48.89 after the search engine service provider said revenues in the fourth-quarter ending in December rose 0.8% to $1.26 billion a year ago period.

Net income in the quarter climbed 109.4% to $348.2 million or 33 cents a diluted share compared to $166.3 million or 17 cents from the same quarter last year.

The company forecasted first-quarter revenues between $1.02 billion and $1.06 billion.

Yahoo said it would spin off its remaining Alibaba stake in a tax-free deal, having 384 million shares valued $40 billion.

Chief executive officer Marissa Mayer said ""post-spin, using the closing price for Alibaba as of January 26, we will have returned nearly $50 billion of value to our shareholders.""

The deal is expected to close in the fourth-quarter of 2015.