Cognizant Beats Estimates, Humana Net Swings to Profit

Mukesh Buch
07 Feb, 2018
New York City

Ball Corp net soared on 10% jump in revenues. Cognizant reported higher than expected earnings on rising outsourcing revenues. Exelon reported strong results. Hasbro net swung to a loss and revenues dropped. Humana net swung to profit.

[R]1:45 PM New York City, New York – Ball Corp net soared on 10% jump in revenues. Cognizant reported higher than expected earnings on rising outsourcing revenues. Exelon reported strong results. Hasbro net swung to a loss and revenues dropped. Humana net swung to profit.[/R]

Tollbooth Index advanced 58.80 or 0.4% to 14,089.41.

Earnings Review

Ball Corporation ((BALL)) soared 8.5% or $3.13 to $40.05 after the metal packaging products supplier said revenues in the fourth-quarter ending in December jumped 10% from a year ago to $2.8 billion.

Net income in the quarter surged to $184 million or 52 cents per diluted share from $52 million or 15 cents in the same quarter last year.

Cognizant Technology Solutions Corp ((CTSH)) jumped 5.8% or $4.29 to $78.14 after the professional services provider reported revenues in the fourth-quarter ending in December advanced 10.6% from a year ago to $3.8 billion.

Net in the quarter swung to a loss of $18 million or 3 cents per diluted share from profit of $416 million or 68 cents in the same quarter last year.

The professional services provider forecasted first-quarter revenue growth in the range of $3.88 billion to $3.92 billion and diluted earnings per share of about $1.04.

In fiscal 2018, Cognizant estimated revenues between $16 billion and $16.30 billion and diluted earnings per share of about $4.53.

Exelon Corporation ((EXC)) increased 33 cents to $36.80 after the energy producer and distributor said revenues in the fourth-quarter ending in December rose 6.3% from a year ago to $8.4 billion.

Net income in the quarter soared to $1.9 billion or $1.94 per diluted share from $204 million or 22 cents in the same quarter last year.

Hasbro, Inc ((HAS)) jumped 6.3% or $5.94 to $99.87 after the entertainment products maker stated revenues in the fourth-quarter ending in December fell 1.8% from a year ago to $1.6 billion.

Net in the quarter swung to a loss of $5.3 million or 4 cents per diluted share from profit of $192.7 million or $1.52 in the same quarter last year.

Humana Inc ((HUM)) slipped 1.4% or $3.81 to $265.31 after the health insurance provider reported total revenues in the fourth-quarter ending in December grew 2.1% from a year ago to $13.2 billion.

Net in the quarter swung to profit $184 million or $1.29 per diluted share from a loss of $401 million or $2.68 in the same quarter last year.

Performance Food Group Co ((PFGC)) slid 5 cents to $31.90 after the food retailer said net sales in the second-quarter ending in December advanced 6.4% from a year ago to $4.3 billion.

Net income in the quarter jumped 240.6% to $78 million or 75 cents per diluted share from $22.9 million or 22 cents in the same quarter last year.

Performance Food Group forecasted fiscal 2018 diluted earnings per share in the range of $1.54 to 1.61.