J&J, P&G Profit Jump; 3M Net Plunges, Du Pont Net Swings to Loss

Mukesh Buch
26 Jan, 2016
New York City

3M net plunged 12% on 5% drop in revenues. Coach net declined 7% but revenues soared 7%. Danaher revenues and profit jumped 4%. Du Pont net swung to a loss. Dover net tumbled 16%. J&J net surged 18%. Lockheed Martin net rose 3%. P&G net soared 35% but sales fell 9%.

[R]11:45 AM New York – 3M net plunged 12% on 5% drop in revenues. Coach net declined 7% but revenues soared 7%. Danaher revenues and profit jumped 4%. Du Pont net swung to a loss. Dover net tumbled 16%. J&J net surged 18%. Lockheed Martin net rose 3%. P&G net soared 35% but sales fell 9%.][/R]

Tollbooth Index increased 84.49 or 0.8% to 10,101.15.

Earnings Review

3M Co ((MMM)) soared 4.8% or $6.63 to $144.26 after the diversified technology company reported revenues in the fourth-quarter ending in December dropped 5.2% from a year ago to $7.30 billion.

Net income in the quarter plunged 11.9% to $1.04 billion or $1.66 per diluted share compared to $1.18 billion or $1.81 per share from the same quarter last year.

Coach Inc ((COH)) jumped 9.2% or $2.78 to $33.14 after the luxury accessories retailer said net sales in the second-quarter ending on December 26 soared 7% from a year ago to $1.27 billion.

Net income in the quarter declined 7.3% to $170.1 million or 61 cents per diluted share compared to $183.5 million or 66 cents per share from the same quarter last year.

Danaher Corporation ((DHR)) slid 5 cents to $84.33 after the medical, industrial and commercial products maker stated sales revenues in the fourth-quarter ending in December soared 12.6% from a year ago to $5.88 billion.

Net in the quarter jumped 4% to $688.6 million or 99 cents per diluted share compared to $661.7 million or 92 cents per share from the same quarter last year.

E I Du Pont De Nemours And Co ((DD)) rose 40 cents to $53.38 after the industrial conglomerates reported net sales in the fourth-quarter ending in December declined 9.4% from a year ago to $5.30 billion.

Net in the quarter swung to a loss of $253 million or 29 cents per diluted share compared to profit of $683 million or 74 cents per share from the same quarter last year.

Dover Corp ((DOV)) soared 5.5% or $2.90 to $55.96 after the industrial equipment maker said revenues in the first-quarter ending in December plummeted 14.6% from a year ago to $1.69 billion.

Net income in the quarter tumbled 16.2% to $141.8 million or 91 cents per diluted share compared to $169.3 million or $1.02 per share from the same quarter last year.

Johnson & Johnson ((JNJ)) increased 2.8% or $2.70 to $99.14 after the health care products maker reported sales in the fourth-quarter ending in December dropped 2.4% from a year ago to $17.8 billion.

Net income in the quarter surged 18.1% to $3.22 billion or $1.15 per diluted share compared to $2.52 billion or 89 cents per share from the same quarter last year.

The company said domestic sales in the quarter rose 2.6% while international sales declined 13.1%.

For the year, the health care products maker forecasted adjusted earnings per share between $6.43 and $6.58 and revenue in the range of $70.8 billion to $71.5 billion.

Lockheed Martin Corporation ((LMT)) plunged 4% or $8.48 to $202.53 after the security and aerospace products maker said revenues in the fourth-quarter ending in December gained 3.2% from a year ago to $12.9 billion.

Net income in the quarter jumped 3.2% to $933 million or $3.01 per diluted share compared to $904 million or $2.82 per share from the same quarter last year.

Procter & Gamble Co ((PG)) advanced 2.9% or $2.21 to $79.13 after the consumer packaged goods maker reported net sales in the second-quarter ending in December slumped 9% from a year ago to $16.9 billion.

Net income in the quarter soared 35% to $3.21 billion or $1.12 per diluted share compared to $2.37 billion or 82 cents per share from the same quarter last year.