MasterCard Rises on Transaction Volumes, Pfizer Profit Doubled

Mukesh Buch
31 Oct, 2017
New York City

Aetna lifted fiscal outlook. Archer Daniels net tumbled on weak export. American Tower net soared 26%. Cummins dropped on weaker margins despite profit surged. Kellogg beat third-quarter results. MasterCard net grew on higher transaction volumes. Pfizer net doubled.

[R]11:45 PM New York – Aetna lifted fiscal outlook. Archer Daniels net tumbled on weak export. American Tower net soared 26%. Cummins dropped on weaker margins despite profit surged. Kellogg beat third-quarter results. MasterCard net grew on higher transaction volumes. Pfizer net doubled.[/R]

Tollbooth Index edged down 4.11 to 13,066.31.

Earnings Review

Aetna Inc ((AET)) slipped 95 cents to $170.28 after the diversified healthcare services provider reported revenues in the third-quarter ending in September declined 5% from a year ago to $15 billion.

Net income in the quarter surged 38.7% to $838 million from $604 million in the same quarter last year.

Aetna lifted full-year earnings per share estimate to $9.75 from the earlier forecast of $9.45 to $9.55 per share.

Archer Daniels Midland Company ((ADM)) declined 5.1% or $2.19 to $40.62 after the food processing services provider said revenues in the third-quarter ending in September slumped 6.3% from a year ago to $14.8 billion.

Net income in the quarter tumbled 43.7% to $192 million or 34 cents per diluted share from $341 million or 58 cents in the same quarter last year.

American Tower Corp ((AMT)) fell $1.37 to $141.50 after the communications towers developer stated total revenues in the third-quarter ending in September jumped 11% from a year ago to $1.7 billion.

Net income in the quarter soared 25.5% to $298.4 million or 69 cents per diluted share from $237.7 million or 55 cents in the same quarter last year.

Cummins Inc ((CMI)) slumped 2.9% or $5.20 to $175.15 after the diesel and natural gas engines maker reported revenues in the third-quarter ending in September jumped 26% from a year ago to $5.3 billion.

Net income in the quarter soared 56.7% to $453 million or $2.71 per diluted share from $289 million or $1.72 in the same quarter last year.

Cummins lifted full-year 2017 revenues estimate to jump between 14% and 15% from the earlier estimate of 9% to 11% increase.

Kellogg Company ((K)) jumped 6.1% or $3.56 to $62.43 after the ready-to-eat cereal and convenience foods maker said revenues in the third-quarter ending in September grew 0.6% from a year ago to $3.3 billion.

Net income in the quarter rose 1.7%% to $297 million or 85 cents per diluted share from $292 million or 82 cents in the same quarter last year.

MasterCard Inc ((M)) fell 1.3% or $1.95 to $147 after the electronic payment solution provider reported revenues in the third-quarter ending in September soared 18% from a year ago to $3.4 billion.

Net income in the quarter rose 1.7% to $1.4 billion or $1.34 per diluted share from $1.2 billion or $1.08 in the same quarter last year.

Pfizer Inc ((PFE)) fell 26 cents to $34.89 after the healthcare products maker said revenues in the third-quarter ending in September rose 1% from a year ago to $13.2 billion.

Net income in the quarter doubled to $2.8 billion or 47 cents per diluted share from $1.4 billion or 22 cents in the same quarter last year.