McGraw, Xylem Rise; AstraZeneca, ConocoPhillips, Ralph Lauren Fall

Mukesh Buch
04 Feb, 2016
New York City

AstraZeneca net swung to profit but revenues dropped. ConocoPhillips net loss widened and lowered capital expenditures forecast. Cigna net declined while revenues jumped. McGraw Hill net swung to profit. Philip Morris net plunged. Ralph Lauren net tumbled. Xylem net surged.

[R]11:30 AM New York – AstraZeneca net swung to profit but revenues dropped. ConocoPhillips net loss widened and lowered capital expenditures forecast. Cigna net declined while revenues jumped. McGraw Hill net swung to profit. Philip Morris net plunged. Ralph Lauren net tumbled. Xylem net surged.[/R]

Tollbooth Index fell 32.97 or 0.3% to 10,117.84.

Earnings Review

AstraZeneca Plc ((AZN)) plunged 6.5% or $2.12 to $30.28 after the U.K.-focused biopharmaceutical company reported revenues in the fourth-quarter ending in December declined 4.8% from a year ago to $6.40 billion.

Net in the quarter swung to profit $808 million or 63 cents per diluted share compared to a loss of $321 million or 25 cents per share from the same quarter last year.

ConocoPhillips ((COP)) slumped 5.1% or $1.98 to $37.65 after the oil and gas explorer reported revenues in the fourth-quarter ending in December plunged 43.9% from a year ago to $6.29 billion.

Net loss in the quarter widened to $3.45 billion or $3.58 per diluted share compared to $39 million or 3 cents per share from the same quarter last year.

The company lowered estimated capital expenditures from $7.7 billion to $6.4 billion and guidance for fiscal 2016 operating costs reduced from $7.7 billion to $7 billion while production in 2016 is expected to be approximately flat with 2015 volumes.

Cigna Corporation ((CI)) gained 53 cents to $133.14 after the medical and insurance services provider stated revenues in the fourth-quarter ending in December soared 6.7% from a year ago to $9.53 billion.

Net income in the quarter dropped 8.8% to $426 million or $1.64 per diluted share compared to $467 million or $1.77 per share from the same quarter last year.

Intercontinental Exchange Inc ((ICE)) slipped 3.5% or $8.73 to $254.35 after the trading platform and clearing house said revenues in the fourth-quarter ending in December jumped 9.4% from a year ago to $875 million.

Net income in the quarter surged 28.5% to $370 million or $3.29 per diluted share compared to $288 million or $2.54 per share from the same quarter last year.

McGraw Hill Financial Inc ((MHFI)) soared 7.1% or $5.77 to $86.54 after the ratings and analytical data services provider stated revenues in the fourth-quarter ending in December advanced 7% from a year ago to $1.37 billion.

Net in the quarter swung to profit $248 million or 91 cents per diluted share compared to a loss of $846 million or $3.11 per share from the same quarter last year.

Philip Morris International Inc ((PM)) fell 1.1% or $1.04 to $88.69 after the tobacco products maker reported revenues in the fourth-quarter ending in December plunged 7.3% from a year ago to $18.4 billion.

Net income in the quarter plummeted 22.5% to $1.25 billion or 80 cents per diluted share compared to $1.61 billion or $1.03 per share from the same quarter last year.

Ralph Lauren Corporation ((RL)) tumbled 16.9% or $19.55 to $96.09 the apparel, accessories, home furnishings distributor said revenues in the third-quarter ending in December fell 1% from a year ago to $1.90 billion.

Net income in the quarter tumbled 39.1% to $131 million or $1.54 per diluted share compared to $215 million or $2.41 per share from the same quarter last year.

Xylem Inc ((XYL)) soared 5.1% or $1.82 $37.49 after the pumping equipment maker stated revenues in the fourth-quarter ending in December decreased 4.4% from a year ago to $994 million.

Net income in the quarter soared 18.8% to $114 million or 63 cents per diluted share compared to $96 million or 52 cents per share from the same quarter last year.