Goldman Sachs Beats Estimates, UnitedHealth Lifts Fiscal Outlook

Mukesh Buch
17 Apr, 2018
New York City

Comerica profit beats earnings estimates. Goldman Sachs reported strong quarterly profit and revenues. Johnson & Johnson profit fell but revenues jumped 13%. Northern Trust net surged. UnitedHealth lifted earnings outlook.

[R]11:55 AM New York City, New York – Comerica profit beats earnings estimates. Goldman Sachs reported strong quarterly profit and revenues. Johnson & Johnson profit fell but revenues jumped 13%. Northern Trust net surged. UnitedHealth lifted earnings outlook.[/R]

Tollbooth Index soared 231.10 or 1.6% to a new record high of 14,898.49 and for the year-to-date jumped 8.2%.

Earnings Review

Comerica Inc ((CMA)) dropped 2.7% or $2.63 to $93.48 after the financial services provider reported net interest income in the first-quarter ending in March soared 16% from a year ago to $549 million.

Net income in the quarter surged 39% to $281 million or $1.59 per diluted share from $202 million or 63 cents in the same quarter last year.

The lender said average loans in the quarter decreased $512 million to $48.4 billion and total deposits decreased $1.6 billion to $56.1 billion.

The Goldman Sachs Group Inc ((GS)) fell 35 cents to $257.53 after the investment banking services provider reported revenues in the first-quarter ending in March surged 25% from a year ago to $10 billion.

Net income in the quarter rose 1% to $2.8 billion or $6.95 per diluted share from $2.3 million or $5.15 in the same quarter last year.

Goldman Sachs said total assets as of end of March jumped 6.2% to $974 billion.

Johnson & Johnson ((JNJ)) slumped 1.5% or $2.02 to $129.74 after the drugs, medical devices and diagnostics products maker said revenues in the first-quarter ending in March jumped 12.6% from a year ago to $20 billion.

Net income in the quarter fell 1.1% to $4.37 billion or $1.60 per diluted share from $4.42 billion or $1.61 in the same quarter last year.

Sales in pharmaceutical business surged 19.4% to $9.8 billion and medical devices segment jumped 7.5% to $6.8 billion and in consumer products business advanced 5.3% to $3.4 billion.

Northern Trust Corporation ((NTRS)) increased 1.9% or $2.06 to $106.95 after the banking, wealth and asset management services provider reported revenues in the first-quarter ending in March advanced 15% from a year ago to $1.5 billion.

Net income in the quarter jumped 38.2% to $381.6 million or $1.58 per diluted share from $276.1 million or $1.09 in the same quarter last year.

Prologis Inc ((PLD)) jumped 4.7% or $2.97 to $65.57 after the logistics services provider said total revenues in the first-quarter ending in March increased 10.3% from a year ago to $694 million.

Net income in the quarter soared 80.3% to $366 million or 68 cents per diluted share from $203 million or 38 cents in the same quarter last year.

The logistics services provider forecasted fiscal 2018 diluted earnings per share in the range of $2.95 to $3.01.

UnitedHealth Group ((UNH)) advanced 3.1% or $7.07 to $237.39 after the health insurance services provider reported revenues in the first-quarter ending in March jumped 13.3% from a year ago to $55.2 billion.

Net income in the quarter surged 27.3% to $2.8 billion or $2.87 per diluted share from $2.2 billion or $2.23 in the same quarter last year.

The health insurer said net margin in the quarter increased to 5.1% from 4.1% in the same period a year ago.

The health insurer lifted fiscal 2018 diluted earnings per share forecast in the range of $12.40 to $12.65 from the earlier estimate of $12.30 to $12.60.