U.S. Movers: 3M, Dow, Eli Lilly, EQT, McDonald's, Union Pacific, W. R. Grace

Mukesh Buch
22 Oct, 2015
New York City

3M jumped after announcing a restructuring plan. Dow profit surged but revenues plunged 16%. Eli Lilly net soared 60% and lifted earnings outlook. McDonald''s net surged 23% but sales dropped 5%. Parker-Hannifin revenues and net declined. Raytheon net fell.

[R]12:00 PM New York – 3M jumped after announcing a restructuring plan. Dow profit surged but revenues plunged 16%. Eli Lilly net soared 60% and lifted earnings outlook. McDonald''s net surged 23% but sales dropped 5%. Parker-Hannifin revenues and net declined. Raytheon net fell.[/R]

Tollbooth Index jumped 159.37 or 1.5% to 10,757.10.

Earnings Review

3M Co ((MMM)) advanced 4% or $6 to $155.82 after the diversified technology company reported net sales in the third-quarter ending in September declined 5.3% from a year ago to $7.71 billion.

Net income in the quarter was flat at $1.30 billion from a year ago and diluted earnings per share increased to $2.05 compared to $1.98 in the same quarter last year.

The company forecasted earnings per share for the year in the range of $7.73 to $7.78 and plans to reduce 1,500 jobs under a global restructuring program.

Dow Chemical Co ((DOW)) surged 5.2% or $2.49 to $49.98 after the chemical conglomerate said revenues in the third-quarter ending in September plunged 16.4% from a year ago to $12.04 billion.

Net income in the quarter surged 51.4% to $1.29 billion or $1.09 per diluted share compared to $852 million or 71 cents from the same quarter last year.

Eli Lilly and Co ((LLY)) fell 45 cents to $76.56 after the drug manufacturer said revenues in the third-quarter ending in September rose 2% from a year ago to $4.96 billion.

Net income in the quarter soared 60% to $799.7 million or 75 cents per diluted share compared to $500.6 million or 47 cents from the same quarter last year.

The company lifted earnings per share forecast in the range of $3.40 to $3.45 from the earlier estimated range of $3.20 to $3.30 and revenue between $19.7 billion and $20 billion.

EQT Corporation ((EQT)) declined 3.3% or $2.47 to $71.81 after the energy company stated revenues in the third-quarter ending in September slid 0.3% from a year ago to $577 million.

Net income in the quarter plunged 58.6% to $40.8 million or 27 cents per diluted share compared to $98.6 million or 65 cents from the same quarter last year.

McDonald''s Corporation ((MCD)) jumped 7.4% or $7.56 to $110.10 after the quick service restaurants operator reported revenues in the third-quarter ending in September declined 5% from a year ago to $6.62 billion.

Net income in the quarter surged 23% to $1.31 billion or $1.40 per diluted share compared to $1.07 billion or $1.09 from the same quarter last year.

Global comparable sales in the quarter jumped 4% and U.S. comparable sales edged up 0.9% while international lead markets comparable sales soared 4.6% in Australia, the U.K., Canada and Germany.

McDonald''s said comparable sales in the high growth markets segment soared 8.9% reflecting strong comparable sales performance in China.

Parker-Hannifin Corp ((PH)) slipped 1.1% or $1.13 to $100.62 after the precision engineering solution provider said net sales in the third-quarter ending in September dropped 12.2% from a year ago to $2.87 billion.

Net income in the quarter plummeted 30.4% to $195 million or $1.41 per diluted share compared to $280.2 million or $1.85 from the same quarter last year.

The company lowered earnings per share forecast to between $5.80 and $6.40 from the earlier estimated range of $6.65 to $7.35.

Raytheon Company ((RTN)) jumped 4.6% or $5.20 to $117.86 after the defense products and services provider stated revenues in the third-quarter ending in September advanced 5.7% from a year ago to $5.78 billion.

Net income in the quarter plunged 13% to $448 million or $1.47 per diluted share compared to $515 million or $1.65 from the same quarter last year.

The company forecasted revenues for the year in the range of $23 billion to $23.3 billion and earnings per share between $6.47 and $6.62.

Union Pacific Corporation ((UNP)) increased 3.9% or $3.73 to $97.14 after the freight and logistic company reported revenues in the third-quarter ending in September declined 10% from a year ago to $5.56 billion.

Net income in the quarter slumped 5% to $1.30 billion or $1.50 per diluted share compared to $1.37 billion or $1.53 from the same quarter last year.

W. R. Grace & Co ((GRA)) gained 1.7% or $1.61 to $98.72 after the specialty chemicals producer said revenues in the third-quarter ending in September slipped 7.7% from a year ago to $790.1 million.

Net income in the quarter tumbled 81.5% to $13.8 million or 19 cents per diluted share compared to $74.5 million or 99 cents from the same quarter last year.