3M, Kimberly Clark, J&J Net Surge; Verizon Net Plunges 17%

Mukesh Buch
24 Jan, 2017
New York City

3M net soared 11.5% and reaffirmed earnings guidance. Alibaba net jumped 38% and revenues advanced 54%. Du Pont net swung to profit. Kimberly Clark net surged 52%. J&J profit jumped 21%. Verizon net plunged 17%. Yahoo! net swung to a loss of $4.4 billion.

[R]12:20 PM New York – 3M net soared 11.5% and reaffirmed earnings guidance. Alibaba net jumped 38% and revenues advanced 54%. Du Pont net swung to profit. Kimberly Clark net surged 52%. J&J profit jumped 21%. Verizon net plunged 17%. Yahoo! net swung to a loss of $4.4 billion.[/R]

Tollbooth Index gained 19.41 or 0.2% to 11,300.46.

Earnings Review

3M Company ((MMM)) slipped 1.8% or $3.21 to $175.30 after the industrial conglomerate reported total revenues in the fourth-quarter ending in December rose 0.4% from a year ago to $7.3 billion.

Net income in the quarter soared 11.5% to $1.16 billion or $1.88 per diluted share compared to the $1.04 billion or $1.66 per share in the same quarter last year.

3M reaffirmed earnings per share in fiscal 2017 in the range of $8.45 to $8.80.

Alibaba Group Holding Ltd ((BABA)) advanced 2.4% or $2.23 to $100.67 after the marketplace operator said revenues in the third-quarter ending in December advanced 54% from a year ago to $7.67 billion.

Net income in the quarter jumped 38% from a year ago period and diluted earnings per share increased to $1.

E I Du Pont De Nemours And Co ((DD)) advanced 3.7% or $2.71 to $75.36 after the industrial conglomerate reported total revenues in the fourth-quarter ending in December fell 2% from a year ago to $5.2 billion.

Net in the quarter swung to profit $265 million or 30 cents per diluted share compared to the loss of $253 million or 29 cents per share in the same quarter last year.

Du Pont forecasted earnings per share in the first-quarter to decrease about 18% from prior year.

Kimberly Clark Corp ((KMB)) jumped 3.5% or $4.11 to $121.09 after the sanitary products maker said net sales in the fourth-quarter ending in December slid 0.1% from a year ago to $4.54 billion.

Net income in the quarter surged 51.6% to $505 million or $1.40 per diluted share compared to the $333 million or 91 cents per share in the same quarter last year.

Johnson & Johnson ((JNJ)) dropped 2.1% or $2.40 to $111.55 after the healthcare products maker reported revenues in the fourth-quarter ending in December rose 1.7% from a year ago to $18.1 billion.

Net income in the quarter jumped 21.1% to $3.8 billion or $1.38 per diluted share compared to the $3.2 billion or $1.15 per share in the same quarter last year.

The healthcare group forecasted sales in fiscal year 2017 to grow 4% to 5% or between $74.1 billion and $74.8 billion and earnings per share in the range of $6.93 to $7.08.

Verizon Communications Inc ((VZ)) declined 4.7% or $2.45 to $49.96 after the communications and entertainment services provider stated revenues in the fourth-quarter ending in December declined 5.6% from a year ago to $32.3 billion.

Net income in the quarter plunged 16.6% to $4.6 billion or $1.10 per diluted share compared to the $5.5 billion or $1.32 per share in the same quarter last year.

In 2016, Verizon invested in its networks with $17.1 billion in capital expenditure

Yahoo! Inc ((YHOO)) increased 2.9% or $1.26 to $43.67 after the internet content provider said revenues in the fourth-quarter ending in December jumped 15.7% from a year ago to $1.5 billion.

Net in the quarter swung to a loss of $4.4 billion or $4.70 cents per diluted share compared to profit of $162 million or 17 cents per share in the same quarter last year.