CBRE Soars on Earnings Surprise, Expedia Focuses on Recent Acquisitions

Mukesh Buch
10 Feb, 2017
New York City

ArcelorMittal net tumbled 41%. Activision Blizzard net surged 60%. CBRE profit jumped 47%. Expedia net swung to profit. Mohawk Ind net soared 22% and the flooring maker lifted earnings forecast. NVIDIA net more than tripled. Reynolds American net surged three-fold. Ventas beats estimates.

[R]11:45 AM New York – ArcelorMittal net tumbled 41%. Activision Blizzard net surged 60%. CBRE profit jumped 47%. Expedia net swung to profit. Mohawk Ind net soared 22% and the flooring maker lifted earnings forecast. NVIDIA net more than tripled. Reynolds American net surged three-fold. Ventas beats estimates.[/R]

Tollbooth Index increased 26.09 or 0.2% to 11,541.89.

Earnings Review

ArcelorMittal SA ((MT)) soared 5% or 41 cents to $8.65 after the Luxembourg-based steel producer reported revenues in the fourth-quarter ending in December rose 1% from a year ago to $14.1 billion.

Net income in the quarter tumbled 40.7% to $403 million or 13 cents per diluted share compared to $680 million or 22 cents per share in the same quarter last year.

ArcelorMittal received anti-trust approval from the European Commission to form a joint venture STEELCAME with the Cellino Group.

Activision Blizzard, Inc. ((ATVI)) surged 14.5% or $5.74 to $45.47 after the mobile and videogame publisher stated revenues in the fourth-quarter ending in December soared 42.9% from a year ago to $2.1 billion.

Net income in the quarter surged 59.7% to $254 million or 33 cents per diluted share compared to $159 million or 21 cents per share in the same quarter last year.

The videogame maker forecasted revenue in the first-quarter of about $1.55 billion and earnings per share of 25 cents.

Aon Plc ((AON)) slid 9 cents to $115.05 after the U.K.-focused insurance brokerage services provider said total revenues in the fourth-quarter ending in December rose 1% from a year ago to $3.3 billion.

Net income in the quarter declined 14% to $502 million or $1.87 per diluted share compared to $584 million or $2.09 per share in the same quarter last year.

Aon said operating margin decreased 290 basis points to 18.9%.

CBRE Group Inc ((CBG)) soared 8.8% or $2.77 to $34.34 after the real estate services provider stated revenues in the fourth-quarter ending in December increased 3% from a year ago to $3.8 billion.

Net income in the quarter jumped 46.6% to $263.9 million or 78 cents per diluted share compared to $180 million or 53 cents per share in the same quarter last year.

CBRE estimated earnings per share in 2017 in the range of $2.35 to $2.45.

Expedia Inc ((EXPE)) slipped 1.2% or $1.51 to $121.74 after the online travel service provider said revenues in the fourth-quarter ending in December jumped 23% from a year ago to $2.1 billion.

Net in the quarter swung to profit $79.5 million or 51 cents per diluted share compared to a loss of $12.5 million or 9 cents per share in the same quarter last year.

Mohawk Industries, Inc ((MHK)) increased 1.1% or $2.35 to $217.12 after the carpets and curtains maker reported revenues in the fourth-quarter ending in December advanced 9% from a year ago to $2.2 billion.

Net income in the quarter soared 21.9% to $233.7 million or $3.13 per diluted share compared to $191.6 million or $2.57 per share in the same quarter last year.

Mohawk forecasted earnings per share in the first-quarter in the range of $2.64 to $2.73, representing increase between 11% and 15% from first-quarter 2016.

NVIDIA Corporation ((NVDA)) dropped 1.9% or $2.28 to $114.10 after the video editing devices maker reported revenues in the fourth-quarter ending in December surged 57.1% from a year ago to $2.2 billion.

Net income in the quarter advanced 216.4% to $655 million or 99 cents per diluted share compared to $207 million or 35 cents per share in the same quarter last year.

Reynolds American, Inc ((RAI)) slid 8 cents to $60.46 after the cigarettes and tobacco products maker said revenues in the fourth-quarter ending in December advanced 3.2% from a year ago to $3.2 billion.

Net income in the quarter surged 205% to $851 million or 60 cents per diluted share compared to $279 million or 19 cents per share in the same quarter last year.

Ventas, Inc ((VTR)) slipped 38 cents to $61.42 after the housing and healthcare properties developer reported revenues in the fourth-quarter ending in December increased 4.1% from a year ago to $875.7 million.

Net income in the quarter jumped 66.5% to $207.6 million or 58 cents per diluted share compared to $124.7 million or 37 cents per share in the same quarter last year.