Time Warner Profit Surges; Priceline, Western Union Decline

Mukesh Buch
04 May, 2016
New York City

Belden lifted revenues outlook. Humana net tumbled 46% and lowered earnings forecast. Noble Energy net loss widened after sales dropped. Priceline Group revenues and profit surged. Time Warner net soared 25%. Western Union profit slumped.

[R]12:00 PM New York – Belden lifted revenues outlook. Humana net tumbled 46% and lowered earnings forecast. Noble Energy net loss widened after sales dropped. Priceline Group revenues and profit surged. Time Warner net soared 25%. Western Union profit slumped.[/R]

Tollbooth Index fell 29.98 or 0.3% to 10,465.94.

Earnings Review

Belden Inc ((BDC)) slipped 1.2% or 75 cents to $62.36 after the communication network services provider said revenues in the first-quarter ending on April 3 fell 1% from a year ago to $541.5 million.

Net in the quarter swung to profit $16.5 million or 39 cents per diluted share compared to a loss of $19.6 million or 46 cents per share from the same quarter last year.

The company lifted fiscal 2016 revenues forecast to between $2.31 billion and $2.36 billion from the earlier estimated range between $2.29 billion and $2.34 billion and diluted earnings per share in the range of $2.84 to $3.14 compared to the previous estimate between $2.68 and $2.98.

Humana Inc ((HUM)) fell 80 cents to $176.13 after the health insurance provider reported total revenues in the first-quarter ending in March slid 0.2% from a year ago to $13.80 billion.

Net income in the quarter tumbled 45.6% to $234 million or $1.56 per diluted share compared to $430 million or $2.82 per share from the same quarter last year.

Humana lowered diluted earnings per share forecast in the year to about $8.32 from the earlier estimate of $8.44.

Noble Energy, Inc ((NBL)) rose 13 cents to $35.37 after the oil and gas explorer stated total revenues in the first-quarter ending in March dropped 5.6% from a year ago to $724 million.

Net loss in the quarter widened to $287 million or 67 cents per diluted share compared to $22 million or 6 cents per share from the same quarter last year.

Priceline Group Inc ((PCLN)) plunged 10.8% or $146.23 to $1,208.41 after the travel services provider reported total revenues in the first-quarter ending in March soared 20.4% from a year ago to $2.02 billion.

Net income in the quarter surged 12.3% to $374.4 million or $7.47 per diluted share compared to $333.3 million or $6.36 per share from the same quarter last year.

Time Warner Inc ((TWX)) jumped 2.3% or $1.75 to $75.39 after the television and streaming services provider said revenues in the first-quarter ending in March rose 2.5% from a year ago to $7.31 billion.

Net income in the quarter soared 24.7% to $1.21 billion or $1.51 per diluted share compared to $970 million or $1.15 per share from the same quarter last year.

The Western Union Company ((WU)) declined 4.4% or 88 cents to $18.95 after the payment solution services provider stated total revenues in the first-quarter ending in March fell 2% from a year ago to $1.30 billion.

Net income in the quarter slumped 9% to $185.7 million or 37 cents per diluted share compared to $203.9 million or 39 cents per share from the same quarter last year.