NVIDIA Soars, Echostar, Insmed Fall; Disney Profit Jumps

Mukesh Buch
06 Nov, 2015
New York City

Cigna forecasted 9% increase in annual revenues. Consolidated Edison net fell 2%. Echostar net tumbled 53%. Humana profit jumped 8% but revenues declined 9%. NVIDIA net soared 42%. Walt Disney profit advanced 7% after revenues soared 9%.

[R]11:40 AM New York – Cigna forecasted 9% increase in annual revenues. Consolidated Edison net fell 2%. Echostar net tumbled 53%. Humana profit jumped 8% but revenues declined 9%. NVIDIA net soared 42%. Walt Disney profit advanced 7% after revenues soared 9%.[/R]

Tollbooth Index slid 8.02 to 11,086.07.

Earnings Review

Cigna Corporation ((CI)) slipped 1.7% or $2.23 to $130.17 after the health services provider said revenues in the third-quarter ending in September soared 9% from a year ago to $9.4 billion.

Net income in the quarter increased 2.4% to $547 million or $2.10 per diluted share compared to $534 million or $2.01 per share from the same quarter last year.

Cigna forecasted revenue for the year to jump 9% and earnings per share between $8.40 and $8.60.

For the fourth-quarter, the company estimated earnings per share in the range of $1.61 to $1.81.

Consolidated Edison, Inc ((ED)) slumped 4.1% or $2.65 to $62.70 after the electricity, natural gas and steam supplier reported revenues in the third-quarter ending in September rose 1.5% from a year ago to $3.44 billion.

Net income in the quarter fell 1.8% to $428 million or $1.45 per diluted share compared to $436 million or $1.48 per share from the same quarter last year.

Echostar Corporation ((SATS)) declined 3.3% or $1.52 to $44.37 after the satellite network services provider stated revenues in the third-quarter ending in September plunged 15.1% from a year ago to $761 million.

Net income in the quarter tumbled 53% to $30.1 million or 32 cents per diluted share compared to $64.1 million or 69 cents per share from the same quarter last year.

Humana Inc ((HUM)) decreased 1.5% or $2.75 to $176.30 after the healthcare and insurance company reported total revenues in the third-quarter ending in September declined 9.2% from a year ago to $13.36 billion.

Net income in the quarter jumped 8.3% to $314 million or $2.09 per diluted share compared to $290 million or $1.85 per share from the same quarter last year.

The company reaffirmed earnings per share forecast for the year of about $7.75.

Insmed Incorporate ((INSM)) plunged 11.7% or $2.33 to $17.53 after the biopharmaceutical company said net loss in the third-quarter ending in September widened to $31 million or 50 cents per diluted share compared to $24 million or 54 cents per share from the same quarter last year.

NVIDIA Corporation ((NVDA)) surged 14.2% or $3.94 to $31.66 after the graphic processors maker said revenues in the third-quarter ending in September jumped 6.5% from a year ago to $1.31 billion.

Net income in the quarter soared 42.2% to $246 million or 44 cents per diluted share compared to $173 million or 31 cents per share from the same quarter last year.

Walt Disney Co ((DIS)) jumped 3% or $3.43 to $116.43 after the diversified entertainment and media group reported revenues in the fourth-quarter ending in September surged 9% from a year ago to $13.51 billion.

Net income in the quarter advanced 7.3% to $1.61 billion or 95 cents per diluted share compared to $1.5 billion or 86 cents per share from the same quarter last year.

Universal Corp ((UVV)) fell 39 cents to $53.50 after the leaf tobacco supplier said revenues in the second-quarter ending in September slipped 1.7% from a year ago to $456.4 million.

Net income in the quarter surged 66.4% to $18.8 million or 81 cents per diluted share compared to $11.3 million or 48 cents per share from the same quarter last year.