Colgate, Dow Chemical, Facebook, MasterCard, Reuters Net Jump

Mukesh Buch
28 Jul, 2016
New York City

Baker Hughes net loss narrowed. ConocoPhillips net loss widened. Colgate-Palmolive net rose 5%. Dow Chemical net surged nearly tripled. Facebook profit and revenues soared. MasterCard net grew 7%. Oracle agreed to buy NetSuite for $9.3 billion. Thomson Reuters net surged 25%.

[R]2:00 PM New York – Baker Hughes net loss narrowed. ConocoPhillips net loss widened. Colgate-Palmolive net rose 5%. Dow Chemical net surged nearly tripled. Facebook profit and revenues soared. MasterCard net grew 7%. Oracle agreed to buy NetSuite for $9.3 billion. Thomson Reuters net surged 25%.[/R]

Tollbooth Index gained 45.81 or 0.4% to 11,059.48.

Earnings Review

Baker Hughes Inc ((BHI)) increased 2.2% or 99 cents to $45.52 after the oilfield services provider said revenues in the second-quarter ending in June declined 10% from a year ago to $2.4 billion.

Net loss in the quarter narrowed to $911 million or $2.08 per diluted share compared to $981 million or $2.22 per share from the same quarter last year.

ConocoPhillips ((COP)) slid 3 cents to $40.05 after the oil and gas explorer stated revenues in the second-quarter ending in June plunged 35.6% from a year ago to $5.58 billion.

Net loss in the quarter widened to $1.07 billion or 86 cents per diluted share compared to $179 million or 15 cents per share from the same quarter last year.

Colgate-Palmolive Company ((CL)) fell 3 cents to $73.25 after the consumer products maker reported net sales in the second-quarter ending in June slumped 5.5% from a year ago to $3.85 billion.

Net income in the quarter jumped 4.5% to $600 million or 67 cents per diluted share compared to $574 million or 63 cents per share from the same quarter last year.

Dow Chemical Co ((DOW)) rose 16 cents to $53.79 after the diversified chemicals maker said sales in the second-quarter ending in June dropped 7% from a year ago to $11.95 billion.

Net income in the quarter surged 173.7% to $3.12 billion or $2.61 per diluted share compared to $1.14 billion or 97 cents per share from the same quarter last year.

Facebook Inc ((FB)) gained 1.5% or $1.92 to $125.26 after the social networking platform operator said revenues in the second-quarter ending in June jumped 59.4% from a year ago to $6.44 billion.

Net income in the quarter soared 186.7% to $2.05 billion or 71 cents per diluted share compared to $715 million or 25 cents per share from the same quarter last year.

MasterCard Inc ((MA)) increased 1.4% or $1.29 to $95.04 after the credit, debit and prepaid card provider reported revenues in the second-quarter ending in June advanced 13% from a year ago to $2.7 billion.

Net income in the quarter jumped 6.7% to $983 million or 89 cents per diluted share compared to $921 million or 81 cents per share from the same quarter last year.

MasterCard said processed transactions in the quarter surged 14% to 13.7 billion and gross dollar volume jumped 11% on a local currency basis to $1.2 trillion while cross-border volumes soared 10%.

In the quarter, worldwide purchase volume jumped 9% to $897 billion from a year ago period and as of June 30, company’s customers had issued 2.3 billion MasterCard and Maestro-branded cards.

NetSuite Inc ((N)) soared 18% or $16.48 to $108.04 after the cloud-based financials software provider said revenues in the in the second-quarter ending in June jumped 30% from a year ago to $230.8 million.

Net loss in the quarter widened to $37.7 million or 47 cents per diluted share compared to $32.3 million or 41 cents per share from the same quarter last year.

Oracle Corporation ((ORCL)) fell 12 cents to $40.81 after the corporate software developer agreed to acquire NetSuite Inc for about $109 per share in cash or approx $9.3 billion.

The transaction is expected to close before the close of the year.

Thomson Reuters Corp ((TRI)) slipped 2.6% or $1.14 to $42.20 after the news and professional information provider reported revenues in the second-quarter ending in June fell 1% from a year ago to $2.77 billion.

Net income in the quarter surged 24.5% to $350 million or 45 cents per diluted share compared to $281 million or 33 cents per share from the same quarter last year.