Colgate, Facebook, Marriott, P&G, Whole Foods Decline

Mukesh Buch
30 Jul, 2015
New York City

BorgWarner net tumbled 22%. Colgate revenues and profit declined. Cigna net rose 2%. Facebook dropped 9% on rising costs but after advertising revenue surged 43%. Marriott net soared 25%. P&G net tumbled 80%. Time Warner net declined 7%. Teva net plunged 28%.

[R]12:50 PM New York – BorgWarner net tumbled 22%. Colgate revenues and profit declined. Cigna net rose 2%. Facebook dropped 9% on rising costs but after advertising revenue surged 43%. Marriott net soared 25%. P&G net tumbled 80%. Time Warner net declined 7%. Teva net plunged 28%.[/R]

Tollbooth Index slid 19.70 or 0.2% to 10,845.18.

Earnings Review

BorgWarner Inc ((BWA)) plunged 8.8% or $4.61 to $47.82 after the turbines maker said revenues in the second-quarter ending in June declined 7.7% to $2.03 billion form a year ago period.

Net income in the quarter tumbled 22.1% to $148.1 million or 65 cents per diluted share compared to $190.2 million or 83 cents from the same quarter last year.

Colgate-Palmolive Company ((CL)) slipped 1.3% or 92 cents to $68 after the consumer products maker reported revenues in the second-quarter ending in June slumped 6.5% to $4.07 billion form a year ago period.

Net income in the quarter declined 7.7% to $574 million or 63 cents per diluted share compared to $622 million or 67 cents from the same quarter last year.

Colgate said net sales in North America increased 1.5% while net sales in Latin America slumped 8.5%. Net sales in Europe and South Pacific plunged 16.5% but sales in Asia region increased 2% and net sales in Africa/Eurasia Net sales tumbled 17.5%.

Cigna Corporation ((CI)) slid 10 cents to $145.31 after the life and health insurer said revenues in the second-quarter ending in June climbed 9% to $9.49 billion form a year ago period.

Net income in the quarter rose 2.6% to $588 million or $2.26 per diluted share compared to $573 million or $2.12 from the same quarter last year.

Delphi Automotive Plc ((DLPH)) fell 45 cents to $77.98 after the U.K.-focused vehicle components maker agreed to acquire U.K.-based high-performance wires and cables maker Hellermanntyton Group Plc for about $1.85 billion or £1.07 billion to expand its electrical architecture business in UK.

The transaction is expected to close by the end of fourth-quarter.

Shares of Hellermanntyton Group Plc surged 42% to 471.70 pence.

Facebook Inc ((FB)) declined 3.8% or $3.66 to $93.33 after the social networking site operator reported revenues in the second-quarter ending in June climbed 39% to $4.04 billion form a year ago period.

Net income in the quarter dropped 9.1% to $719 million or 25 cents per diluted share compared to $791 million or 30 cents from the same quarter last year.

Facebook said advertising revenue in the quarter surged 43% to $3.83 billion, consists mobile ad revenue soared 62% from the prior year quarter and 73% in the first-quarter.

As of June 30, the company’s monthly active users in the quarter climbed 13% to 1.49 billion while daily active users jumped 17% to 968 million and Mobile monthly active users surged 23% to 1.31 billion from a year ago.

Marathon Petroleum Corp ((MPC)) slumped 4.4% or $2.47 to $53.38 after the petroleum products refiner reported total revenues in the second-quarter ending in June tumbled 23.6% to $20.58 billion form a year ago period.

Net income in the quarter slumped 3.4% to $826 million or $1.51 per diluted share compared to $855 million or $1.48 from the same quarter last year.

Marriott International Inc ((MAR)) plunged 4.4% or $3.39 to $73.62 after the hotels and motels operator said revenues in the second-quarter ending in June jumped 6% to $3.69 billion form a year ago period.

Net income in the quarter surged 25% to $240 million or 87 cents per diluted share compared to $192 million or 64 cents from the same quarter last year.

Marriott forecasted earnings per share for the third-quarter in the range of 72 cents to 76 cents.

Procter & Gamble Co ((PG)) declined 3.5% or $2.84 to $77.79 after the consumer packaged goods maker reported total revenues in the fourth-quarter ending in June dropped 9% to $17.79 billion form a year ago period.

Net income in the quarter tumbled 80% to $521 million or 18 cents per diluted share compared to $2.58 billion or 89 cents from the same quarter last year.

P&G took a more than $2 billion write-down on its Venezuelan operations.

Time Warner Cable Inc ((TWC)) gained $1.39 to $190.82 after the video, high-speed data and voice services provider said revenues in the second-quarter ending in June jumped 3.5% to $5.93 billion form a year ago period.

Net income in the quarter declined 7.2% to $463 million or $1.62 per diluted share compared to $499 million or $1.76 from the same quarter last year.

The company recorded best second-quarter residential subscriber numbers since 2008; high-speed data net additions of 172,000, voice net additions of 252,000 and triple-play net additions of about 233,000.

Time Warner added 172,000 internet customers but lost video customers of about 45,000 and average monthly cost for content per customer climbed 11.6% to $42.73.

The company is struggling with the decline in subscriber numbers as viewers shift to cheaper and more flexible streaming services providers like Netflix, Amazon, Hulu and now Charter Communications.

Teva Pharmaceutical Industries Ltd ((TEVA)) slipped 1.5% or $1.05 to $6979 after the Israel-based drug and generic products maker reported revenues in the second-quarter ending in June fell 2% to $4.97 billion form a year ago period.

Net income in the quarter plunged 27.9% to $539 million or 63 cents per diluted share compared to $748 million or 87 cents from the same quarter last year.

Whole Foods Market, Inc ((WFM)) tumbled 11.4% or $4.65 to $36.17 after the natural and organic foods retailer said revenues in the second-quarter ending in June climbed 8% to $3.63 billion form a year ago period.

Net income in the quarter rose 2% to $154 million or 43 cents per diluted share compared to $151 million or 41 cents from the same quarter last year.