US Auto Sales in July Decline; Pfizer Net Surges, Thomson Reuters Net Falls

Mukesh Buch
01 Aug, 2017
New York City

Archer Daniels sales fell. Ecolab net soared and raise fiscal outlook. Fiat Chrysler, Ford, GM July auto sales declined on weak passenger cars demand. Pfizer net surged and reaffirmed fiscal 2017 outlook. Thomson Reuters net plunged 41% on flat revenues.

[R]2:10 PM New York – Archer Daniels sales fell. Ecolab net soared and raise fiscal outlook. Fiat Chrysler, Ford, GM July auto sales declined on weak passenger cars demand. Pfizer net surged and reaffirmed fiscal 2017 outlook. Thomson Reuters net plunged 41% on flat revenues.[/R]


Tollbooth Index increased 54.34 or 0.4% to 12,338.43.

Earnings Review

Archer Daniels Midland Company ((ADM)) jumped 3.1% or $1.31 to $43.49 after the food processor said revenues in the second-quarter ending in June declined 4.5% from a year ago to $14.9 billion.

Net income in the quarter fell 2.8% to $276 million from $284 million and diluted earnings per share were flat at or 48 cents in the same quarter last year.

Ecolab Inc ((ECL)) slumped 1.3% or $1.74 to $129.93 after the hygiene and energy technologies provider reported net sales in the second-quarter ending in June increased 4% from a year ago to $3.5 billion.

Net income in the quarter soared 15% to $296.6 million or $1.01 per diluted share from $258.4 million or 87 cents in the same quarter last year.

Ecolab forecasted fiscal 2017 diluted earnings per share to jump between 8% and 12% or in the range of $4.70 to $4.9.

Fiat Chrysler Automobiles NV ((FCAU)) slid 1 cent to $12.08 after the vehicle maker said U.S. auto sales in July plunged 10% to 161,477 units compared to 180,389 units in a year ago month and retail sales declined 6% to 145,391 units.

Jeep brand sales in the month plunged 12% to 69,351 units and Chrysler brand sales slumped 30% to 13,303 units. Dodge brand sales plummeted 12% to 31,264 units. Wrangler sales were flat at 18,698 units.

Fiat brand sales tumbled 18% to 2,244 vehicles while RAM pickup vehicles sales were flat at 39,708 vehicles.

Ford Motor Company ((F)) dropped 2.5% or 28 cents to $10.94 after the automaker reported total U.S. sales in July plunged 7.5% to 200,212 units and retail sales fell 1% to 159,492 units.

Passenger car sales in the month tumbled 19.4% to 48,259 units while fleet sales plummeted 26.4% to 40,720 units and trucks sales fell 7.1% to 80,886 units while Lincoln brand unit sales increased 2.6% to 3,366 units.

Ford Escape sales in the month jumped 5.5% to 27,716 units but F-Series truck retail sales soared 5.8% to 69,467 units from a year ago month. Sales in Ford SUVs rose 2.9% to 65,558 units.

Fusion sales plummeted 42.2% to 13,886 units but Focus sales surged 18% to 16,505 units. Mustang sales declined 35.1% to 6,206 vehicles. Ford Explorer sales surged 12.9% to 18,763.

Ford’s average transaction prices increased 2.4% to $38,445 from a year ago.

General Motors Company ((GM)) slumped 3.6% or $1.29 to $34.69 after the automaker reported total sales in July declined 15.4% to 226,107 vehicles and retail sales in the month plunged 14.4% to 202,220 units.

GM said July sales in Chevrolet segment slumped 15.3% to 151,502 units and sales in Cadillac unit plunged 21.7% to 11,227 units while sales in Buick segment tumbled 30.5% to 15,966 units from a year ago month.

The automaker said average transaction price after sales incentives was $36,000, an increase of nearly $1,000 from July 2016.

HCP, Inc ((HCP)) dropped 3.9% or $1.25 to $30.40 after the real estate developer said total revenues in the second-quarter ending in June plunged 14.7% from a year ago to $458.9 million.

Net income in the quarter tumbled 93.6% to $19.3 million or 4 cents per diluted share from $301.4 million or 64 cents in the same quarter last year.

The real estate developer estimated fiscal 2017 diluted earnings per share in the range of $1.18 and $1.24.

Pfizer Inc ((PFE)) fell 19 cents to $32.99 after the healthcare products maker reported revenues in the second-quarter ending in June fell 2% from a year ago to $12.9 billion.

Net income in the quarter surged 50% to $3.1 billion or 52 cents per diluted share from $2.1 billion or 34 cents in the same quarter last year.

Pfizer said sales in Enbrel declined 19.5% to $617 million and sales of Prevnar slumped 8.2% to $1.15 billion and revenues were unfavorably impacted by divestment of Hospira Infusion Systems.

Pfizer reaffirmed 2017 revenue forecast between $52 billion​ and $54 billion​ and the drug maker lifted diluted earnings per share between $2.40 and $2.45 from the earlier estimate of $2.35.

Thomson Reuters Corp ((TRI)) soared 4.9% or $2.26 to $48.15 after the professional financial information provider said revenues in the second-quarter ending in June were flat from a year ago to $2.8 billion.

Net income in the quarter plunged 41.1% to $206 million or 27 cents per diluted share from $350 million or 45 cents in the same quarter last year.