BNY Mellon, BB&T, Check Point, M&T Bank, PPG Net Soar

Mukesh Buch
19 Jan, 2017
New York City

BNY Mellon net surged 29%. BB&T net soared 18% Check Point Software net jumped 14%. J B Hunt profit edged up but revenues soared 6%. M&T Bank net advanced 22% after loan portfolios grew 15%. PPG net increased 10%. Union Pacific net rose 2%.

[R]2:10 PM New York – BNY Mellon net surged 29%. BB&T net soared 18% Check Point Software net jumped 14%. J B Hunt profit edged up but revenues soared 6%. M&T Bank net advanced 22% after loan portfolios grew 15%. PPG net increased 10%. Union Pacific net rose 2%.[/R]

Tollbooth Index gained 14.88 to 11,381.26.

Earnings Review

Bank of New York Mellon Corp ((BK)) slumped 2.7% or $1.25 to $44.98 after the banking and investments group said total revenues in the fourth-quarter ending in December rose 2% from a year ago to $3.8 billion.

Net income in the quarter surged 29% to $822 million or 77 cents per diluted share compared to the $637 million or 57 cents per share in the same quarter last year.

The investments group said assets under administration increased 3% to $29.9 trillion and assets under management rose 1% to $1.65 trillion.

The bank said in the quarter, it had repurchased 18.4 million shares for $848 million and in the full-year repurchased 58.6 million shares for $2.4 billion and return on common equity was 9% in the fourth-quarter and 10% in the year.

BB&T Corporation ((BBT)) dropped 2.3% or $1.04 to $45.17 after the banking and financial services provider stated revenues in the fourth-quarter ending in December increased 3.1% from a year ago to $1.8 billion.

Net income in the quarter soared 17.9% to $592 million or 72 cents per diluted share compared to the $502 million or 64 cents per share in the same quarter last year.

Check Point Software Technologies Ltd ((CHKP)) soared 6.8% or $6.11 to $95.67 after the application software developer said revenues in the fourth-quarter ending in December advanced 6% from a year ago to $487 million.

Net income in the quarter jumped 13.8% to $222 million or $1.31 per diluted share compared to the $195 million or $1.08 per share in the same quarter last year.

J B Hunt Transport Services Inc ((JBHT)) slipped 1.3% or $1.28 to $96.71 after the surface transportation services provider reported revenues in the fourth-quarter ending in December soared 6% from a year ago to $1.72 billion.

Net income in the quarter added 0.8% to $117.6 million or $1.05 per diluted share compared to the $116.7 million or $1.01 per share in the same quarter last year.

M&T Bank Corporation ((MTB)) slid 22 cents to $154.42 after the retail and commercial banking services provider reported revenues in the fourth-quarter ending in December jumped 6.8% from a year ago to $1.4 billion.

Net income in the quarter advanced 22% to $330.6 million or $1.98 per diluted share compared to the $271 million or $1.65 per share in the same quarter last year.

The lender said its commercial loan portfolios grew 15%.

PPG Industries, Inc ((PPG)) gained 75 cents to $97.43 after the coatings, paintings and glass products maker said revenues in the fourth-quarter ending in December slid 1.4% from a year ago to $3.5 billion.

Net income in the quarter increased 9.5% to $344 million or $1.30 per diluted share compared to the $314 million or $1.16 per share in the same quarter last year.

Union Pacific Corporation ((UNP)) advanced 3% or $3.16 to $106.95 after the freight and logistics services provider reported revenues in the fourth-quarter ending in December fell 1% from a year ago to $5.2 billion.

Net income in the quarter rose 2% to $1.14 billion or $1.39 per diluted share compared to the $1.12 million or $1.31 per share in the same quarter last year.