LinkedIn, Twitter Jump; GoPro, Viad Plunge

Mukesh Buch
06 Feb, 2015
New York City

Aon net climbed 29%. Activision net soared 108%. GoPro plunged on outlook. Harris net rose 2% and agreed to acquire Exelis for $4.75 billion. LinkedIn net tumbled 21%. Twitter soared after net loss narrowed. Viad plunged after net loss widened.

[R]12:15 PM New York – Aon net climbed 29%. Activision net soared 108%. GoPro plunged on outlook. Harris net rose 2% and agreed to acquire Exelis for $4.75 billion. LinkedIn net tumbled 21%. Twitter soared after net loss narrowed. Viad plunged after net loss widened.[/R]

Tollbooth Index gained 0.3% or 26.88 to 10,281.18.

Earnings Review

Aon Plc ((AON)) jumped 3.1% or $2.87 to $96.58 after the U.K.-based insurance company said total revenues in the fourth-quarter ending in December increased 3% to $3.3 billion from a year ago period.

Net income in the quarter climbed 29% to $459 million or $1.56 a diluted share compared to $355 million or $1.14 from the same quarter last year.

Activision Blizzard, Inc ((ATVI)) dropped 2.1% or 43 cents to $21.39 after the online game publisher reported revenues in the fourth-quarter ending in December rose 3.9% to $1.58 billion from a year ago period.

Net income in the quarter soared 107.5% to $361 million or 49 cents a diluted share compared to $174 billion or 22 cents from the same quarter last year.

The company forecasted earnings per share for the first-quarter of 37 cents and for the fiscal 2015 earnings per share of about 89 cents.

FLIR Systems, Inc ((FLIR)) climbed 4.1% or $1.31 to $33.10 after the thermal imaging system developer said revenues in the fourth-quarter ending in December jumped 8.5% to $434.4 million from a year ago period.

Net income in the quarter surged 153.7% to $72.8 million or 51 cents a diluted share compared to $28.7 million or 20 cents from the same quarter last year.

GoPro Inc ((GPRO)) tumbled 10.4% or $5.59 to $48.78 after the photographic equipment maker stated revenues in the fourth-quarter ending in December soared 75.4% to $633.9 million from a year ago period.

Net income in the quarter jumped 179.9% to $122.3 million or 83 cents a diluted share compared to $43.7 million or 33 cents from the same quarter last year.

Harris Corporation ((HRS)) soared 7.9% or $5.53 to $75.02 after the satellite and other communications equipment maker reported revenue in the second-quarter ending in December slid 0.8% to $1.21 billion form a year ago period.

Net income in the quarter rose 2.4% to $139.5 million or $1.32 a diluted share compared to $136.2 million or $1.26 from the same quarter last year.

Separately, today the company agreed to acquire defense contractor Exelis Inc for cash and stock valuing the company at $23.75 per share or about $4.75 billion.

Shareholders of Exelis will receive $16.625 in cash and 0.1025 of a share of Harris amounted to about $23.75 a share.

The transaction is expected to close in June 2015.

Shares of Exelis Inc surged 35.1% to $23.92.

LinkedIn Corp ((LNKD)) surged 14.6% or $34.72 to $272.69 after the professional network service provider said revenues in the fourth-quarter ending in December soared 43.9% to $643.4 million from a year ago period.

Net income in the quarter tumbled 20.9% to $2.99 million or 2 cents a diluted share compared to $3.8 million or 3 cents from the same quarter last year.

Twitter Inc ((TWTR)) soared 16.3% or $6.70 to $47.96 after the micro-blogging service provider reported revenues in the fourth-quarter ending in December climbed 97.4% to $479.1 million from a year ago period.

Net loss in the quarter narrowed to $125.4 million or 20 cents a diluted share compared to $511.5 million or $1.41 from the same quarter last year.

For the first-quarter, the company forecasted revenues between $440 million and $450 million and adjusted EBITDA to be in the range of $89 million to $94 million.

For the year, Twitter forecasted revenues in the range of $2.3 billion to $2.35 billion and adjusted EBITDA between of $550 million to $575 million.

Viad Corp ((VVI)) tumbled 12.1% or $3.43 to $24.88 after the advertising and marketing company stated total revenues in the fourth-quarter ending in December climbed 10.6% to $223.2 million from a year ago period.

Net loss in the quarter widened to $5.89 million or 30 cents a diluted share compared to $6.62 million or 23 cents from the same quarter last year.

The company lowered revenue forecast for the first-quarter in the range of $246 million to $258 million compared to $285.6 million reported revenues in the same period a year ago and loss per share is expected between 23 cents and 15 cents.