Ford, GM July Sales Fall; P&G Profit Surges, Pfizer Net Plunges

Mukesh Buch
02 Aug, 2016
New York City

Aetna net income and revenues rose. Archer Daniels net plunged. CVS Health net income declined but revenues jumped. Ford and GM sales in July dropped but Fiat Chrysler sales edged up. Molson Coors net slumped. P&G profit surged nearly four-fold. Pfizer profit tumbled 23% but revenues jumped 11%.

[R]4:00 PM New York – Aetna net income and revenues rose. Archer Daniels net plunged. CVS Health net income declined but revenues jumped. Ford and GM sales in July dropped but Fiat Chrysler sales edged up. Molson Coors net slumped. P&G profit surged nearly four-fold. Pfizer profit tumbled 23% but revenues jumped 11%.[/R]

Tollbooth Index slipped 62.32 or 0.6% to 11,064.22.

Earnings Review

Aetna Inc ((AET)) gained 1.1% or $1.26 to $115.71 after the healthcare services provider said reported revenues in the second-quarter ending in June jumped 4.7% from a year ago to $15.9 billion.

Net income in the quarter soared 8.1% to $790.8 million or $2.23 per diluted share compared to $731.8 million or $2.08 per share from the same quarter last year.

Archer Daniels Midland Company ((ADM)) slumped 2.7% or $1.18 to $43.04 after the food processor said revenues in the second-quarter ending in June declined 9.1% from a year ago to $15.6 billion.

Net income in the quarter plunged 26.4% to $284 million or 48 cents per diluted share compared to $386 million or 62 cents per share from the same quarter last year.

CVS Health Corp ((CVS)) jumped 4.1% or $3.85 to $97.37 after the drug retailer stated revenues in the second-quarter ending in June advanced 17.6% from a year ago to $43.7 billion.

Net income in the quarter declined 27.3% to $924 million or 86 cents per diluted share compared to $1.3 billion or $1.12 per share from the same quarter last year.

Eaton Corporation, Plc ((ETN)) rose 34 cents to $64.26 after the diversified industrial products maker said revenues in the second-quarter ending in June dropped 5.4% from a year ago to $5.1 billion.

Net income in the quarter slumped 8.2% to $491 million or $1.08 per diluted share compared to $535 million or $1.14 per share from the same quarter last year.

Ford Motor Company ((F)) declined 3.3% or 41 cents to $12.07 after the vehicle maker said sales in July dropped 2.8% to 215,268 vehicles from 222,014 a year ago while truck sales in the month jumped 5% to 87,104 vehicles and van sales surged 26% to 20,236 units.

F-Series trucks sales fell 1% to 65,657 units and overall retail sales slumped 6% to 161,158 units.

Fiat Chrysler Automobiles NV plunged 4.1% or 26 cents to $6.07 after the vehicles maker said total July sales in the U.S. edged up 0.3% to 180,727 units from 180,124 units in a year ago month.

Total trucks sales in the month jumped 5% to 44,069 units and RAM pickup segment sales increased 2% to 39,827 units.

Chrysler brand sales dropped 4% to 19,095 units and Dodge Brand sales declined 10% to 35,520 units. Jeep Brand sales increased 5% to 79,246 units.

General Motors Company ((GM)) slumped 3.9% or $1.24 to $30.07 after the automobiles maker reported total sales in July fell 2% to 267,258 vehicles but retail sales jumped 5%.

GM added Chevrolet, GMC, Buick and Cadillac brands collectively recorded the best July retail sales since 2007.

GM said average retail transaction price after sales incentives were $34,887, an increase of more than $1,100.

Molson Coors Brewing Company ((TAP)) fell 89 cents to $99.96 after the brewer said net sales in the second-quarter ending in June decreased 2.3% from a year ago to $986.2 million.

Net income in the quarter slumped 24.8% to $172.3 million or 80 cents per diluted share compared to $229 million or $1.23 per share from the same quarter last year.

The Procter & Gamble Company ((PG)) slid 54 cents to $86.95 after the consumer goods maker reported net sales in the fourth-quarter ending in June slumped 3% from a year ago to $16.1 billion.

Net income in the quarter surged nearly four-fold to $1.95 billion or 69 cents per diluted share compared to $521 million or 18 cents per share from the same quarter last year.

Pfizer Inc ((PFE)) dropped 2.4% or 88 cents to $36.42 after the biopharmaceutical products maker revenues in the second-quarter ending in June soared 11% from a year ago to $13.2 billion.

Net income in the quarter tumbled 23% to $2.02 billion or 33 cents per diluted share compared to $2.63 billion or 42 cents per share from the same quarter last year.