Dick Clark in $1 B Deal; Duke Energy, Humana Net Jump

Mukesh Buch
04 Nov, 2016
New York City

Ameren net jumped 8%. AES Corp net fell 3% on flat revenues. Duke Energy net soared 29%. Dick Clark Productions agreed to be acquired by China-based conglomerate Wanda Group. Humana net surged 43%. NRG Energy net surged five-fold but sales plunged. Revlon net swung to a loss.

[R]12:40 PM New York – Ameren net jumped 8%. AES Corp net fell 3% on flat revenues. Duke Energy net soared 29%. Dick Clark Productions agreed to be acquired by China-based conglomerate Wanda Group. Humana net surged 43%. NRG Energy net surged five-fold but sales plunged. Revlon net swung to a loss.[/R]

Tollbooth Index increased 44.42 or 0.4% to 10,639.20.

Earnings Review

Ameren Corp ((AEE)) rose 33 cents to $49.40 after the power and gas provider said revenues in the third-quarter ending in September increased 1.6% from a year ago to $1.9 billion.

Net income in the quarter jumped 7.6% to $369 million or $1.52 per diluted share compared to $343 million or $1.41 per share in the same quarter last year.

The utility provider lifted earnings per share forecast in the year to between $2.65 and $2.75 per share from the earlier estimated range of $2.45 to $2.65.

AES Corporation ((AES)) jumped 4.6% or 54 cents to $12.29 after the renewable energy provider stated total revenues in the third-quarter ending in September was nearly flat from a year ago to $3.54 billion.

Net income in the quarter slumped 2.8% to $175 million compared to $180 million and diluted earnings per share were flat at 26 cents from the same quarter last year.

Duke Energy Corp ((DUK)) fell 17 cents to $77.81 after the power producer and supplier reported revenues in the third-quarter ending in September advanced 5.2% from a year ago to $6.82 billion.

Net income in the quarter soared 28.7% to $1.2 billion or $1.70 per diluted share compared to $932 million or $1.35 per share in the same quarter last year.

Dick Clark Productions, Inc, the privately held TV celebrity awards shows producer agreed to be acquired by China-based conglomerates and property developer Dalian Wanda Group for about $1 billion.

“We are excited to partner with an iconic company and look forward to supporting the management team as they continue to build and expand its enormous legacy,” chief executive officer Xiaoma Lu of Wanda Investment said.

Humana Inc ((HUM)) advanced 2% or $3.36 to $168.67 after the health insurance provider reported total revenues in the third-quarter ending in September increased 2.5% from a year ago to $13.7 billion.

Net income in the quarter surged 43.3% to $450 million or $2.98 per diluted share compared to $314 million or $2.09 per share in the same quarter last year.

NRG Energy Inc ((NRG)) surged 10.1% or $1.02 to $11.15 after the integrated power supplier said revenues in the third-quarter ending in September plunged 10.8% from a year ago to $3.9 billion.

Net income in the quarter surged five-fold to $402 million or $1.27 per diluted share compared to the $61 million or 18 cents per share from the same quarter last year.

Revlon Inc ((REV)) declined 3.4% or $1.10 to $31 after the beauty and personal care products maker stated net sales in the third-quarter ending in September soared 28.3% from a year ago to $604.8 million.

Net in the quarter swung to a loss of $4.7 million or 9 cents per diluted share compared to the profit of $4.9 million or 12 cents per share from the same quarter last year.