Herbalife Soar; Chesapeake Energy, Fossil, Groupon, Mylan Decline

Mukesh Buch
06 May, 2015
New York City

Brookfield Asset Management net surged 71%. Chesapeake Energy net swung to a loss after revenues plunged 45%. Herbalife net jumped 5%. Fossil net tumbled 43%. Groupon net loss narrowed. Motorola Solutions profit plummeted 42%. Mylan net tumbled 51%.

[R]1:00 PM New York – Brookfield Asset Management net surged 71%. Chesapeake Energy net swung to a loss after revenues plunged 45%. Herbalife net jumped 5%. Fossil net tumbled 43%. Groupon net loss narrowed. Motorola Solutions profit plummeted 42%. Mylan net tumbled 51%.[/R]

Tollbooth Index slid 0.02% or 1.68 to 10,613.85.

Earnings Review

Brookfield Asset Management Inc ((BAM)) dropped 2.1% or $1.10 to $52.18 after the Canada-based asset manager said revenues in the first-quarter ending in March increased 1.4% to $4.40 billion from a year ago period.

Net income in the quarter surged 70.8% to $1.44 billion or $1.09 per diluted share compared to $843 million or 80 cents from the same quarter last year.

Chesapeake Energy Corporation ((CHK)) declined 2.9% or 46 cents to $15.40 after the oil and gas producer reported revenues in the first-quarter ending in March plunged 45.3% to $2.76 billion from a year ago period.

Net in the quarter swung to a loss of $3.78 billion or $5.72 per diluted share compared to profit of $374 million or 54 cents from the same quarter last year.

Herbalife Ltd ((HLF)) surged 15.1% or $6.06 to $46.14 after the Islands-based nutrition products maker reported stated revenues in the first-quarter ending in March declined 12.7% to $1.10 billion from a year ago period.

Net income in the quarter jumped 4.8% to $78.2 million or 92 cents per diluted share compared to $74.6 million or 74 cents from the same quarter last year.

Fossil Group Inc ((FOSL)) tumbled 10.6% or $9.08 to $77.30 after the fashion watches and jewelry designer said net sales in the first-quarter ending in March declined 7% to $51.4 million from a year ago period.

Net income in the quarter plunged 42.5% to $38.1 million or 75 cents per diluted share compared to $66.3 million or $1.22 from the same quarter last year.

Groupon Inc ((GRPN)) plunged 5.4% or 38 cents to $6.47 after the online marketplace stated revenues in the first-quarter ending in March jumped 3% to $750.4 million from a year ago period.

Net loss in the quarter narrowed to $14.3 million or 2 cents per diluted share compared to $37.8 million or 6 cents from the same quarter last year.

For the year, the company forecasted revenue in the range of $3.15 billion to $3.3 billion.

Motorola Solutions Inc ((MSI)) rose 17 cents to $58.76 after the communications devices maker said net sales in the first-quarter ending on April 4 nearly flat at $1.22 billion from a year ago period.

Net income in the quarter plummeted 41.7% to $74 million or 34 cents per diluted share compared to $127 million or 49 cents from the same quarter last year.

Mylan NV ((MYL)) decreased 1.9% or $1.39 to $71.49 after the generic drug maker reported revenues in the first-quarter ending in March soared 7% to $1.87 billion from a year ago period.

Net income in the quarter tumbled 51.2% to $56.6 million or 13 cents per diluted share compared to $115.9 million or 29 cents from the same quarter last year.

Occidental Petroleum Corporation ((OXY)) gained 1.6% or $1.26 to $79.89 after the oil and gas explorer reported revenues in the first-quarter ending in March plummeted 37.7% to $3.09 billion from a year ago period.

Net in the quarter swung to a loss of $218 million or 28 cents per diluted share compared to profit of $1.39 billion or $1.75 from the same quarter last year.