Apple to Build Retail Operations in India; Goldman Sachs, IBM Net Fall

Mukesh Buch
20 Jan, 2016
New York City

Apple Inc moved to build retail operations in India as the mobile devices maker struggles with global sales growth. Goldman Sachs profit tumbled 72%. IBM net declined 19% on 9% plummet in revenues. Northern Trust net fell 2%. Netflix net plunged 48%.

[R]10:50 AM New York – Apple Inc moved to build retail operations in India as the mobile devices maker struggles with global sales growth. Goldman Sachs profit tumbled 72%. IBM net declined 19% on 9% plummet in revenues. Northern Trust net fell 2%. Netflix net plunged 48%.[/R]

Tollbooth Index declined 213.98 or 2.1% to 9,774.84.

Earnings Review

Apple Inc ((AAPL)) slipped 1.9% or $1.86 to $94.84 after the mobile and electronic devices maker filed with the Indian government to open a retail network and wholesale operation.

Amphenol Corporation ((APH)) jumped 3.1% or $1.41 to $46.83 after the antenna and sensors maker said revenues in the fourth-quarter ending in December were flat from a year ago at $1.43 billion.

Net income in the quarter rose 3.4% to $200.1 million or 63 cents per diluted share compared to $193.5 million or 61 cents per share from the same quarter last year.

For the first-quarter, the company estimated sales to jump between 4% and 7% or in the range between $1.38 billion and $1.42 billion from the year ago quarter.

Diluted earnings per share to declined 4% to flat or between 55 cents and 57 cents compared to 2015.

The sensors maker forecasted sales in the year to soar in the range of 8% to 11% or $6.04 billion to $6.20 billion and diluted earnings per share to increase between 5% and 8% to the range between $2.54 and $2.62.

Goldman Sachs Group Inc ((GS)) gained 32 cents to $157.05 after the banking and brokerage services provider said net revenues in the fourth-quarter ending in December declined 5% from a year ago to $7.27 billion.

Net income in the quarter tumbled 72% to $574 million or $1.27 per diluted share compared to $2.03 billion or $4.38 per share from the same quarter last year.

International Business Machines Corp ((IBM)) plunged 5.5% or $7.04 to $121.44 after the technology company reported total revenues in the fourth-quarter ending in December plummeted 8.5% from a year ago to $22.06 billion.

Net income in the quarter declined 18.6% to $4.46 billion or $4.60 per diluted share compared to $5.84 billion or $5.54 per share from the same quarter last year.

IBM said revenues from the software segment dropped 11% to $6.8 billion and revenues from the systems hardware segment fell 1% to $2.4 billion. Revenues in global technology services business plunged 7% to $8.1 billion.

Northern Trust Corporation ((NTRS)) declined 4.5% or $2.90 to $61.06 after the financial services provider said total revenues in the fourth-quarter ending in December rose 2% from a year ago to $1.16 billion.

Net income in the quarter fell 2% to $239.3 million or 99 cents per diluted share compared to $244 million or 98 cents per share from the same quarter last year.

Netflix, Inc ((NFLX)) dropped 6.6% or $7.15 to $100.70 after the streaming video services provider reported revenues in the fourth-quarter ending in December soared 23% from a year ago to $1.82 billion.

Net income in the quarter plunged 48.2% to $43.2 million or 10 cents per diluted share compared to $83.4 million or 19 cents per share from the same quarter last year.