Colgate, Visa Profit Soar; Exxon, Time Warner Net Drop

Mukesh Buch
30 Apr, 2015
New York City

American Tower net declined 9% but revenues climbed 9%. BorgWarner net soared 12%. Colgate-Palmolive profit surged 40% while revenues dropped 6%. Cigna revenues climbed 11%. Exxon Mobil net tumbled 46%. Time Warner net fell 4%. Visa net surged 11%.

[R]1:55 PM New York – American Tower net declined 9% but revenues climbed 9%. BorgWarner net soared 12%. Colgate-Palmolive profitsurged 40% while revenues dropped 6%. Cigna revenues climbed 11%. Exxon Mobil net tumbled 46%. Time Warner net fell 4%. Visa net surged 11%.[/R]

Tollbooth Index slumped 0.7% or 75.85 to 10,668.62.

Earnings Review

American Tower Corp ((AMT)) jumped 2.6% or $2.48 to $95.99 after the communications towers operator said total revenues in the first-quarter ending in March climbed 8.7% to $1.07 billion from a year ago period.

Net income in the quarter declined 9.4% to $183.5 million or 45 cents per diluted share compared to $202.5 million or 51 cents from the same quarter last year.

BorgWarner Inc ((BWA)) declined 3.8% or $2.30 to $58.61 after the auto-parts supplier stated net sales in the first-quarter ending in March slumped 5% to $1.98 billion from a year ago period.

Net income in the quarter soared 12.4% to $178.9 million or 79 cents per diluted share compared to $159.1 million or 69 cents from the same quarter last year.

Colgate-Palmolive Company ((CL)) dropped 2.4% or $1.67 to $66.84 after the consumer products maker reported net sales in the first-quarter ending in March declined 6% to $4.07 billion from a year ago period.

Net income in the quarter surged 39.7% to $542 million or 59 cents per diluted share compared to $388 million or 42 cents from the same quarter last year.

The company said total oral, personal and home care sales in the quarter dropped 6% to $3.5 billion and pet nutrition sales slipped 3% to $538 million from a year ago period.

Cigna Corporation ((CI)) rose 2 cents to $126.78 after the health services provider said total revenues in the first-quarter ending in March soared 11% to $9.47 billion from a year ago period.

Net income in the quarter gained 0.9% to $533 million or $2.04 per diluted share compared to $528 million or $1.92 from the same quarter last year.

During the quarter, the company said global medical customers jumped 3.4% to 14.65 million from 14.17 million, and policies climbed 4.2% to 12.53 million from 12.02 million from a year ago period.

Cigna lifted revenues guidance between 8% and 10% and adjusted income per share from operations in the range of $8.15 to $8.50 from earlier estimated range of $8 to $8.40 per share.

Exxon Mobil Corporation ((XOM)) gained 28 cents to $88.16 after the energy explorer reported total revenues in the first-quarter ending in March plunged 36.4% to $67.62 billion from a year ago period.

Net income in the quarter tumbled 45.7% to $4.94 billion or $1.17 per diluted share compared to $9.10 billion or $2.10 from the same quarter last year.

The company said oil-equivalent barrels per day produced in the quarter 4.2 million, an increase of 97,000 barrels per day from a year ago period.

Rockwell Automation ((ROK)) climbed 5.7% or $6.42 to $118.75 after the industrial automation power provider said total revenues in the second-quarter ending in March slipped 3.1% to $1.55 billion from a year ago period.

Net income in the quarter surged 14.2% to $206 million or $1.51 per diluted share compared to $180.3 million or $1.28 from the same quarter last year.

Time Warner Cable Inc ((TWC)) decreased $1.38 to $156.48 after the cable TV operator reported revenues in the first-quarter ending in March climbed 3.5% to $5.78 billion from a year ago period.

Net income in the quarter slumped 4.4% to $458 million or $1.59 per diluted share compared to $479 million or $1.70 from the same quarter last year.

In the quarter, the company added 30,000 residential video customers, for the first time since 2009, and added 320,000 residential voice customers and triple play customers jumped by net 298,000 customers compared with 82,000 customers in a quarter a year earlier.

Visa Inc ((V)) slipped 1.5% or $1.01 to $66.33 after the payment processor said total revenues in the second-quarter ending in March climbed 7.3% to $3.38 billion from a year ago period.

Net income in the quarter soared 11.3% to $1.57 billion or $2.53 per diluted share compared to $1.41 billion or $2.20 from the same quarter last year.