CVS Health, Coca-Cola Profit Jump; Twenty-First Century Fox Net Tumbles

Mukesh Buch
09 Feb, 2016
New York City

Agrium profit surged but revenues declined. CVS Health net jumped 15%. CDW net soared 73%. HCP net swung to loss after revenues declined 11%. Ingersoll-Rand net fell 9%. Coca-Cola profit soared 61%. Twenty-First Century Fox net tumbled 89%. Waste Connections net dropped.

[R]12:00 PM New York – Agrium profit surged but revenues declined. CVS Health net jumped 15%. CDW net soared 73%. HCP net swung to loss after revenues declined 11%. Ingersoll-Rand net fell 9%. Coca-Cola profit soared 61%. Twenty-First Century Fox net tumbled 89%. Waste Connections net dropped.[/R]

Tollbooth Index gained 15.39 or 0.2% to 9,643.82.

Earnings Review

Agrium Inc. ((AGU)) slipped 1.7% or $1.39 to $82.62 the Canada-based nutrients products producer said sales in the fourth-quarter ending in December declined 11% from a year ago at $2.41 billion.

Net income in the quarter surged to $200 million or $1.45 per diluted share compared to $51 million or 33 cents per share from the same quarter last year.

Agrium forecasted diluted earnings per share in the fiscal 2016 in the range of $5.50 to $7.

CVS Health Corporation ((CVS)) slid 5 cents to $89.60 after the pharmacy company reported revenues in the fourth-quarter ending in December soared 11% from a year ago at $41.1 billion.

Net income in the quarter jumped 15.4% to $1.5 billion or $1.34 per diluted share compared to $1.3 billion or $1.14 per share from the same quarter last year.

The company said revenues in the pharmacy services segment jumped 11.1% to $26.5 billion and revenues in the retail/LTC segment advanced 12.5% to $19.9 billion.

The pharmacy company estimated diluted earnings per share in the first-quarter between $1.03 and $1.06.

For the year, CVS forecasted diluted earnings per share in the range of $5.28 to $5.43.

CDW Corporation ((CDW)) dropped 3.3% or $1.17 to $34.14 after the information technology provider stated net sales in the fourth-quarter ending in December jumped 12.1% from a year ago at $3.42 billion.

Net income in the quarter soared 72.5% to $89.3 million or 52 cents per diluted share compared to $51.8 million or 30 cents per share from the same quarter last year.

HCP, Inc ((HCP)) tumbled 12.1% or $4.12 to $29.87 after the real estate developer reported revenues in the fourth-quarter ending in December declined 10.7% from a year ago to $668 million.

Net in the quarter swung to loss of $599.2 million or $1.29 per diluted share compared to profit of $196.1 million or 43 cents per share from the same quarter last year.

Ingersoll-Rand Plc ((IR)) increased 41 cents to $49.87 after the Ireland-based industrial and commercial products maker said revenues in the fourth-quarter ending in December rose 2.8% from a year ago to $3.33 billion.

Net income in the quarter declined 8.6% to $233.5 million or 88 cents per diluted share compared to $255.5 million or 95 cents per share from the same quarter last year.

The Coca-Cola Co ((KO)) rose 11 cents to $42.75 after the non-alcoholic beverage maker reported revenues in the fourth-quarter ending in December plunged 8% from a year ago at $10 billion.

Net income in the quarter soared 61% to $1.24 billion or 28 cents per diluted share compared to $770 million or 17 cents per share from the same quarter last year.

Twenty-First Century Fox Inc ((FOXA)) slid 5 cents to $24.54 after the media and entertainment group said revenues in the fourth-quarter ending in December plummeted 8.3% from a year ago at $7.4 billion.

Net income in the quarter tumbled 89.2% to $672 million or 34 cents per diluted share compared to $6.21 billion or $2.88 per share from the same quarter last year.

In the quarter, the company reported higher losses from streaming media service Hulu and film studio reported business declined 14% to $2.36 billion, on lower world-wide DVD sales.

Waste Connections ((WCN)) fell 32 cents to $56.77 after the solid waste services provider stated revenue in the fourth-quarter ending in December grew 1.1% from a year ago to $531.9 million.

Net income in the quarter slumped 14% to $52.1 million or 42 cents per diluted share compared to $60.8 million or 49 cents per share from the same quarter last year.