Comcast Lifts Sky Offer to $31B, Twitter Swing to Profit

Mukesh Buch
25 Apr, 2018
New York City

Anthem net jumped on lower medical expenses. Boeing lifted forecast on higher defense and aviation revenues. General Dynamics delivered solid first-quarter results. Nasdaq lowered its full-year operating expenses guidance. Twitter first quarter swung to profit.

[R]12:50 PM New York City, New York – Anthem net jumped on lower medical expenses. Boeing lifted forecast on higher defense and aviation revenues. General Dynamics delivered solid first-quarter results. Nasdaq lowered its full-year operating expenses guidance. Twitter first quarter swung to profit.[/R]

Tollbooth Index dropped 101.47 or 0.7% to 14,442.58 and for the year-to-date increased 4.8%.

Earnings Review

Anthem, Inc ((ANTM)) gained $2.20 to $227.20 after the health insurance services provider reported total revenues in the first-quarter ending in March rose 0.1% from a year ago to $22.3 billion.

Net income in the quarter soared 30% to $1.3 billion or $4.99 per diluted share from $1 billion or $3.73 in the same quarter last year.

The insurer said as of March 31, medical enrollment declined 2.5% to 39.6 million members but the company estimated medical enrollment in the fiscal 2018 may be in the range of 40.1 million members to 40.3 million.

Anthem lifted fiscal 2018 earnings per share forecast to about $15.30 from the earlier estimate of $15 per share.

The Boeing Company ((BA)) advanced 2.8% or $8.94 to $338 after the airplane maker and defense contractor reported revenues in the first-quarter ending in March jumped 6% from a year ago to $23.4 billion.

Net income in the quarter surged 57% to $2.5 billion or $4.15 per diluted share from $1.6 billion or $2.54 in the same quarter last year.

Boeing lifted full-year earnings per share forecast to between $16.40 and $16.60 from the earlier estimate to between $15.90 and 16.10 and operating cash flow in the range of $15 billion to $15.5 billion from the earlier estimate of $15 billion.

Comcast Corporation ((CMCSA)) jumped 3.9% or $1.31 to $34.66 after the cable operator said total revenues in the first-quarter ending in March surged 10.7% from a year ago to $22.8 billion.

Net income in the quarter jumped 21.2% to $3.1 billion or 66 cents per diluted share from $2.6 billion or 53 cents in the same quarter last year.

Comcast said revenues in the Cable Communications increased 3.6% to $13.5 billion, primarily driven by increases in high-speed internet and business services revenue.

Total customer in the quarter increased by 273,000 to 29.6 million and net total high-speed internet customer additions were 379,000 and net total video customer net losses were 96,000.

Separately today, Comcast announced its conditional cash offer for the U.K.-based Sky Plc, representing 16% premium to the existing Twenty-First Century Fox, Inc offer with the implied value of $31 billion or £22 billion.

Under the terms of acquisition, Sky shareholders will receive £12.50 in cash for each of Sky share.

General Dynamics Corporation ((GD)) declined 4.1% or $9.17 to $212.85 after the submarines, armored vehicles maker reported revenues in the first-quarter ending in March increased 1.3% from a year ago to $7.5 billion.

Net income in the quarter rose 4.7% to $799 million or $2.65 per diluted share from $763 million or $2.48 in the same quarter last year.

General Dynamics said total backlog at the end of quarter was $62.1 billion and the sum of all backlog components was $87.6 billion.

Nasdaq, Inc ((NDAQ)) edged up 1 cents to $86.34 after the stock exchanges operator stated net revenues in the first-quarter ending in March soared 15% to $666 million.

Net income in the quarter jumped 5.4% to $177 million or $1.05 per diluted share from $168 million or 99 cents in the same quarter last year.

The trading services provider lowered operating expense guidance to between $1.30 billion to $1.34 billion from the earlier estimate of $1.38 billion to $1.42 billion after the closing of the sale of Public Relations Solutions and Digital Media Services businesses in April.

Rockwell Automation, Inc ((ROK)) soared 4.3% or $6.96 to $168.97 after the process-control equipment maker reported sales in the second-quarter ending in March jumped 6.2% from a year ago to $1.7 billion.

Net income in the quarter soared 20% to $227.4 million or $1.77 per diluted share from $189.5 million or $1.45 in the same quarter last year.

Rockwell forecasted fiscal 2018 revenues growth in the range of 4.5% to 7.5% and diluted earnings per shared between $3.65 and $3.95.

Twitter Inc ((TWTR)) declined 4.3% or $1.31 to $29.17 after the social network services provider said revenues in the first-quarter ending in March surged 21% to $665 million.

Net in the quarter swung to profit $61 million or 8 cents per diluted share from a loss of $62 million or 9 cents in the same quarter last year.