Morgan Stanley, PepsiCo, Grainger Profit Plunge; Hasbro Net Surges

Mukesh Buch
18 Apr, 2016
New York City

Morgan Stanley net tumbled 54% on 21% decline in revenues. PepsiCo profit plummeted 24%. Grainger net plunged 12%. Hasbro net surged 83% after revenues soared 16%. J B Hunt net and revenues jumped.

[R]2:00 PM New York – Morgan Stanley net tumbled 54% on 21% decline in revenues. PepsiCo profit plummeted 24%. Grainger net plunged 12%. Hasbro net surged 83% after revenues soared 16%. J B Hunt net and revenues jumped.[/R]

Tollbooth Index rose 28.94 or 0.3% to 10,892.71.

Earnings Review

J B Hunt Transport Services Inc ((JBHT)) gained 1.1% or 90 cents to $86.27 after the logistics services provider said revenues in the first-quarter ending in March jumped 6% from a year ago to $1.53 billion.

Net income in the quarter soared 8.9% to $100.1 million or 88 cents per diluted share compared to $91.9 million or 78 cents per share from the same quarter last year.

Hasbro, Inc ((HAS)) advanced 5.4% or $4.42 to $86.83 after the toys and games maker reported net revenues in the first-quarter ending in March soared 16% from a year ago to $831 million.

Net income in the quarter surged 83% to $48.8 million or 38 cents per diluted share compared to $26.7 million or 21 cents per share from the same quarter last year.

Lennox International Inc ((LII)) dropped 1.9% or $2.69 to $138.14 after the climate control solution provider stated revenues in the first-quarter ending in March increased 4% from a year ago to $715.2 million.

Net income in the quarter jumped 79.1% to $24.9 million or 56 cents per diluted share compared to $13.9 million or 31 cents per share from the same quarter last year.

The company lifted earnings per share forecast to between $6.30 and $6.80 from the earlier estimated range between $6.10 and $6.60.

Morgan Stanley ((MS)) slid 7 cents to $25.69 after the banking and brokerage services provider said revenues in the first-quarter ending in March plunged 21.4% from a year ago to $7.8 billion.

Net income in the quarter tumbled 54.2% to $1.1 billion or 55 cents per diluted share compared to $2.4 billion or $1.18 per share from the same quarter last year.

PepsiCo, Inc ((PEP)) fell 11 cents to $103.66 after the food and beverage maker reported net revenues in the first-quarter ending in March slid 3% from a year ago to $11.9 billion.

Net income in the quarter plummeted 24% to $931 million or 64 cents per diluted share compared to $1.22 billion or 81 cents per share from the same quarter last year.

W W Grainger Inc ((GWW)) slipped 1.5% or $3.58 to $231.47 after the industrial products distributor reported sales revenues in the first-quarter ending in March rose 3% from a year ago to $2.5 billion.

Net income in the quarter plunged 12% to $186.7 million or $2.98 per diluted share compared to $211 million or $3.07 per share from the same quarter last year.