Cognizant to Return $3.4 B to Shareholders, Disney Misses Revenue Target

Mukesh Buch
08 Feb, 2017
New York City

Allergan net loss narrowed. Cognizant net fell 2%. Exelon net plunged 34%. Humana net swung to a loss and the company plans to offer more . Jacobs Engineering net soared 30%. Owens Corning net slumped 21%. Disney net declined 14%. Time Warner net tumbled 66%.

[R]11:45 AM New York – Allergan net loss narrowed. Cognizant net fell 2%. Exelon net plunged 34%. Humana net swung to a loss and the company plans to offer more . Jacobs Engineering net soared 30%. Owens Corning net slumped 21%. Disney net declined 14%. Time Warner net tumbled 66%.[/R]

Tollbooth Index gained 15.74 to 11,379.08.

Earnings Review

Allergan Plc ((AGN)) gained 1.7% or $4.02 to $236.63 after the Ireland-based biopharmaceutical products maker said total revenues in the fourth-quarter ending in December jumped 7.1% from a year ago to $3.9 billion.

Net loss in the quarter narrowed to $70.2 million or 20 cents per diluted share compared to the $700.5 million or $1.78 per share in the same quarter last year.

Allergan forecasted revenues in the first-quarter of about $3.5 billion.

In fiscal 2017, revenues estimated between $15.5 billion and $15.8 billion and net loss per share in the range of $1.80 to $1.30.

Cognizant Technology Solutions Corp ((CTSH)) jumped 3.9% or $2.08 to $55.89 after the consulting and business services provider reported revenues in the fourth-quarter ending in December soared 7.1% from a year ago to $3.5 billion.

Net income in the quarter slipped 1.9% to $416 million or 68 cents per diluted share compared to the $424 million or 69 cents per share in the same quarter last year.

Exelon Corporation ((EXC)) rose 9 cents to $36.10 after the utility services provider stated revenues in the fourth-quarter ending in December jumped 17.6% from a year ago to $7.9 billion.

Net income in the quarter plunged 34% to $204 million or 22 cents per diluted share compared to $309 million or 33 cents per share in the same quarter last year.

Humana Inc ((HUM)) increased 66 cents to $195.90 after the health insurance services provider said revenues in the fourth-quarter ending in December declined 4.9% from a year ago to $12.9 billion.

Net in the quarter swung to a loss of $401 million or $2.68 per diluted share compared to $101 million of profit or 67 cents per share in the same quarter last year.

The health insurance services provider said medicare advantage membership as of December 31 fell 27% to 355,400 and also continues to evaluate contract structures for rationalization to mitigate negative impact on revenues for 2018.

Humana said it is reviewing court''s ruling related to Aetna transaction and it expects to provide financial guidance no later than February 16.

Jacobs Engineering Group Inc ((JEC)) dropped 2.7% or $1.59 to $57.21 after the construction services provider stated revenues in the first-quarter ending in December plummeted 10.7% from a year ago to $2.5 billion.

Net income in the quarter soared 30.1% to $60.5 million or 50 cents per diluted share compared to the $46.5 million or 38 cents per share in the same quarter last year.

Owens Corning ((OC)) decreased 1.9% or $1.06 to $54.20 after the building materials supplier said revenues in the fourth-quarter ending in December advanced 6.2% from a year ago to $1.4 billion.

Net income in the quarter slumped 21.1% to $86 million or 76 cents per diluted share compared to the $109 million or 92 cents per share in the same quarter last year.

The Walt Disney Company ((DIS)) gained 1.3% or $1.45 to $110.48 after the broadcasting and entertainment group reported revenues in the fourth-quarter ending in December fell 3% from a year ago to $14.8 billion.

Net income in the quarter declined 14% to $2.5 billion or $1.55 per diluted share compared to the $2.9 million or $1.73 per share in the same quarter last year.

The media company said revenues in media networks unit fell 2% to $6.2 billion, due to higher programming costs and lower advertising revenue at ESPN segment.

Disney said revenue in parks and resorts business jumped 6% to $4.6 billion but revenues in studio segment dropped 7% to $2.5 billion and revenues in cable network fell 2% to $4.4 billion while revenues in broadcasting segment were flat at $1.8 billion from a year ago period.

Time Warner Inc ((TWX)) rose 9 cents to $96.31 after the media and entertainment group said revenues in the fourth-quarter ending in December increased 11% from a year ago to $7.9 billion.

Net income in the quarter tumbled 65.8% to $293 million or 37 cents per diluted share compared to the $857 million or $1.06 per share in the same quarter last year.

The group discontinued repurchase of its share due to pending merger with AT&T Inc but the board approved regular quarterly dividend of $0.4025 per share.