Becton Dickinson, Kellogg Net Jump; Duke Energy, Sempra, Viacom Net Drop

Mukesh Buch
04 Aug, 2016
New York City

Apache net loss narrowed and sales plummeted 39%. Becton Dickinson net soared. Duke Energy net fell. First Solar net declined. Icahn Enterprise net swung to a loss after revenues slumped 13%. Kellogg net soared but sales fell. Parker-Hannifin net surged. Sempra net tumbled.

[R]2:00 PM New York – Apache net loss narrowed and sales plummeted 39%. Becton Dickinson net soared. Duke Energy net fell. First Solar net declined. Icahn Enterprise net swung to a loss after revenues slumped 13%. Kellogg net soared but sales fell. Parker-Hannifin net surged. Sempra net tumbled.[/R]

Tollbooth Index edged up 1.91 to 11,078.29.

Earnings Review

Apache Corporation ((APA)) fell 5 cents to $51.68 after the oil and gas explorer said total revenues in the second-quarter ending in June plummeted 38.7% from a year ago to $1.38 billion.

Net loss in the quarter narrowed to $244 million or 65 cents per diluted share compared to the $860 million or $2.28 per share from the same quarter last year.

Becton Dickinson and Co ((BDX)) dropped 4.3% or $7.63 to $168.15 after the medical devices maker reported revenues in the third-quarter ending in June rose 2.5% from a year ago to $3.20 billion.

Net income in the quarter soared to $390 million or $1.80 per diluted share compared to the $62 million or 29 cents per share from the same quarter last year.

Duke Energy Corp ((DUK)) rose 1 cent to $85.16 after the utility provider said revenues in the second-quarter ending in June slipped 1.9% from a year ago to $5.48 billion.

Net income in the quarter dropped 6.3% to $509 million or 74 cents per diluted share compared to the $543 million or 87 cents per share from the same quarter last year.

First Solar, Inc ((FSLR)) tumbled 11.6% or $5.71 to $43.53 after the photovoltaic solar energy provider stated net sales in the fourth-quarter ending in June rose 4.3% from a year ago to $934.4 million.

Net income in the quarter slumped 85.7% to $13.4 million or 13 cents per diluted share compared to the $93.9 million or 92 cents per share from the same quarter last year.

Icahn Enterprises LP ((IEP)) declined 4.7% or $2.62 to $53.60 after the diversified investment group stated revenues in the second-quarter ending in June slumped 12.7% from a year ago to $4.35 billion.

Net in the quarter swung to a loss $69 million or 50 cents per diluted share compared to the profit of $212 million or $1.68 per share from the same quarter last year.

Kellogg Company ((K)) gained 1.9% or $1.51 to $82.59 after the ready-to-eat cereal maker reported revenues in the fourth-quarter ending in June slumped 6.6% from a year ago to $3.27 billion.

Net income in the quarter soared 26% to $280 million or 79 cents per diluted share compared to the $223 million or 63 cents per share from the same quarter last year.

Kellogg lifted earnings per share forecast in the year between $4.11 and $4.18 from earlier estimated range of $4 to $4.07.

Parker-Hannifin Corp ((PH)) jumped 5.4% or $6.12 to $119.90 after the industrial and aerospace products maker said revenues in the fourth-quarter ending in June declined 6% from a year ago to $2.96 billion.

Net income in the quarter surged 35% to $241.8 million or $1.77 per diluted share compared to the $179.5 million or $1.27 per share from the same quarter last year.

Sempra Energy ((SRE)) gained 89 cents to $111.24 after the utility provider said revenues in the second-quarter ending in June declined 8.9% from a year ago to $2.16 billion.

Net income in the quarter tumbled 91.6% to $27 million or 6 cents per diluted share compared to the $320 million or $1.17 per share from the same quarter last year.

Twenty-First Century Fox Inc ((FOX)) slumped 3.1% or 86 cents to $26.56 after the media and entertainment services provider reported revenues in the fourth-quarter ending in June jumped 7.1% from a year ago to $6.65 billion.

Net income in the quarter surged to $567 million or 30 cents per diluted share compared to the $87 million or 4 cents per share from the same quarter last year.

Viacom, Inc ((VIAB)) rose 24 cents to $44.23 after the television program and motion picture maker said revenues in the third-quarter ending in June grew 1.6% from a year ago to $3.11 billion.

Net income in the quarter plunged 26.9% to $432 million or $1.09 per diluted share compared to the $591 million or $1.47 per share from the same quarter last year.