Qualcomm Settles China Dispute for $975 M, Coca-Cola Sales Drop 2%

Mukesh Buch
10 Feb, 2015
New York City

Alere net loss widened and revenues fell. Coca-Cola net tumbled 55%. CVS Health net jumped 5% on 13% increase in revenues. CDW net plunged 14%. Coupons.Com tumbled 26% on weak outlook. Dean Foods net swung to profit. Qualcomm agreed to pay $975 million to China.

[R]11:10 AM New York – Alere net loss widened and revenues fell. Coca-Cola net tumbled 55%. CVS Health net jumped 5% on 13% increase in revenues. CDW net plunged 14%. Coupons.Com tumbled 26% on weak outlook. Dean Foods net swung to profit. Qualcomm agreed to pay $975 million to China.[/R]

Tollbooth Index rose 0.1% or 13.25 to 10,210.70.

Earnings Review

Alere Inc ((ALR)) climbed 4% or $1.63 to $42.05 after the diagnostics service provider said revenues in the fourth-quarter ending in December fell 0.9% to $666.9 million from a year ago period.

Net loss in the quarter widened to $28.4 million or 34 cents a diluted share compared to $9.05 million or 11 cents from the same quarter last year.

The Coca-Cola Co ((KO)) jumped 3.2% or $1.33 to $42.56 after the beverages maker reported net revenues in the fourth-quarter ending in December slid 2% to $10.87 billion from a year ago period.

Net income in the quarter tumbled 55% to $770 million or 17 cents per diluted share compared to $1.71 billion or 38 cents from the same quarter last year.

CVS Health Corp ((CVS)) rose 33 cents to $99.87 after the pharmacy service provider reported net revenues in the fourth-quarter ending in December climbed 12.9% to $37.05 billion from a year ago period.

Net income in the quarter jumped 4.8% to $1.32 billion or $1.15 per diluted share compared to $1.26 billion or $1.06 from the same quarter last year.

CDW Corp ((CDW)) gained 1.5% or 54 cents to $36.59 after the cloud computing service provider said revenues in the fourth-quarter ending in December soared 12.4% to $3.05 billion from a year ago period.

Net income in the quarter tumbled 13.8% to $51.8 million or 30 cents a diluted share compared to $60 million or 35 cents from the same quarter last year.

Coupons.Com Inc ((COUP)) tumbled 25.8% or $3.75 to $10.76 after the digital promotion platform provider stated revenues in the fourth-quarter ending in December advanced 14.6% to $60 million from a year ago period.

Net in the quarter swung to a loss of $1.72 million or 2 cents a diluted share compared to profit of $1.52 million or break even from the same quarter last year.

The company forecasted revenue for the full-year in a range of $275 million and $290 million.

Dean Foods Co ((DF)) tumbled 12.8% or $2.31 to $15.75 after the food and beverage company stated net sales in the fourth-quarter ending in December jumped 4.3% to $2.40 billion from a year ago period.

Net in the quarter swung to profit $5.28 million or 6 cents a diluted share compared to a loss of $37.7 million or 40 cents from the same quarter last year.

Qualcomm INC ((QCOM)) climbed 4% or $2.69 to $69.82 after the communication service provider agreed to pay fine of 6 billion yuan or $975 million to resolve antitrust dispute in China under the Anti-Monopoly Law.

The company lifted revenue forecast for the fiscal 2015 in the range of $26.3 billion to $28 billion from the earlier estimate of $26 billion to $28 billion and adjusted earnings between of $4.85 to $5.05 per share from $4.75 to $5.05 per share.