BT to Acquire EE for

Mukesh Buch
05 Feb, 2015
New York City

ABB net surged 30% but revenues declined 9%. Becton, Dickinson net plunged 13%. BT agreed to acquire EE for

[R]12:25 PM New York – ABB net surged 30% but revenues declined 9%. Becton, Dickinson net plunged 13%. BT agreed to acquire EE for £12.5 billion in cash and stock. CIGNA net soared 29%. Cummins profit fell 3% while revenues soared 11%. Pfizer plans to acquire Hospira for $15 billion.[/R]

Tollbooth Index increased 0.9% or 92.18 to 10,238.

Earnings Review

ABB Ltd ((ABB)) jumped 2.5% or 50 cents to $20.34 after the heavy electrical equipment maker reported total revenues in the fourth-quarter ending in December declined 9% to $10.35 billion from a year ago period.

Net income in the quarter surged 30% to $680 million or 30 cents a diluted share compared to $525 billion or 23 cents from the same quarter last year.

Becton, Dickinson and Co ((BDX)) climbed 3.9% or $5.46 to $145.38 after the medical device maker said revenue in the first-quarter ending in December rose 1.8% to $2.05 billion from a year ago period.

Net income in the quarter plunged 13.1% to $236 million or $1.20 a diluted share compared to $271 million or $1.37 from the same quarter last year.

BT Group Plc ((BT)) climbed 6.1% or $3.88 to $67.89 after the U.K.-based communication service provider agreed to acquire EE for £12.5 billion in cash and new BT ordinary shares.

Following the transaction Deutsche Telekom will hold a 12% stake in BT and the transaction is expected to be complete before the end of fiscal year.

CIGNA Corporation ((CI)) increased 2% or $2.21 to $112.31 after the health service provider stated total revenue in the fourth-quarter ending in December climbed 9.6% to $8.93 billion from a year ago period.

Net income in the quarter soared 29.4% to $467 million or $1.77 a diluted share compared to $361 million or $1.29 from the same quarter last year.

Cummins Inc ((CMI)) plunged 4.8% or $6.94 to $137.22 after the diesel and gas engine maker reported net sales in the fourth-quarter ending in December soared 10.9% to $5.09 billion from a year ago period.

Net income in the quarter fell 2.8% to $444 million or $2.44 a diluted share compared to $432 million or $2.32 from the same quarter last year.

Philip Morris International Inc ((PM)) rose 71 cents to $82.79 after the cigarettes and tobacco product maker said net revenue in the fourth-quarter ending in December fell 2.2% to $19.94 billion from a year ago period.

Net income in the quarter tumbled 18.9% to $1.61 billion or $1.03 a diluted share compared to $1.99 billion or $1.24 from the same quarter last year.

Pfizer Inc ((PFE)) increased 2.6% or 84 cents to $32.91 after the biopharmaceutical company plans to acquire Hospira Inc for about $15 billion to strengthen its generic injectible drugs and biosimilars business.

The drug-makers offered $90 per share in cash, a 39% premium to Hospira''s closing stock price of yesterday.

The deal requires regulatory and shareholder approvals.