Intel Lifts Revenue Outlook, ExxonMobil Production Slumps as Profit Gains

Mukesh Buch
27 Apr, 2018
New York City

Colgate-Palmolive net soared on improved pricing. Dover formally approved separation of Apergy Corporation. Exxon Mobil profit and revenues soared. Intel lifted revenues forecast and the chipmaker reported a profit surge. Moody

[R]12:25 PM New York City, New York – Colgate-Palmolive net soared on improved pricing. Dover formally approved separation of Apergy Corporation. Exxon Mobil profit and revenues soared. Intel lifted revenues forecast and the chipmaker reported a profit surge. Moody’s net jumped. Phillips 66 net fell 2%.[/R]

Tollbooth Index jumped 129.15 or 0.9% to 14,666.55 but for the year-to-date jumped 6.5%.

Earnings Review

Colgate-Palmolive Company ((CL)) rose 40 cents to $66.99 after the consumer product maker reported net sales in the first-quarter ending in March jumped 6.5% from a year ago to $4 billion.

Net income in the quarter soared 11.2% to $634 million or 72 cents per diluted share from $570 million or 64 cents in the same quarter last year.

Dover Corporation ((DOV)) dropped 2.6% or $2.48 to $91.66 after the industrial conglomerate said revenue in the first-quarter ending in March advanced 6.1% from a year ago to $1.9 billion.

Net income in the quarter plunged 24% to $131.4 million or 84 cents per diluted share from $172.2 million or $1.09 in the same quarter last year.

Dover forecasted fiscal 2018 diluted earnings per share to jump 15% or in the range of $4.70 to $4.85 and revenue growth of 4% to 5%.

Separately today, Dover said that board of directors formally approved the separation of Apergy Corporation commencing from May 9.

Exxon Mobil Corporation ((XOM)) declined 3.3% or $2.69 to $78.17 after the oil and gas explorer reported total revenue in the first-quarter ending in March soared 16.2% from a year ago to $68.2 billion.

Net income in the quarter surged 16% to $4.6 billion or $1.09 per diluted share from $4 billion or 95 cents in the same quarter last year.

Exxon Mobil said oil equivalent production slumped 6% to 3.9 million barrels per day and divestments oil-equivalent production dropped 3% from a year ago period.

Intel Corporation ((INTC)) rose 7 cents to $53.12 after the chips and microprocessors makers reported revenue in the first-quarter ending in March surged 9% from a year ago to $16.1 billion.

Net income in the quarter jumped 50% to $4.5 billion or 93 cents per diluted share from $3 million or 61 cents in the same quarter last year.

Intel lifted fiscal 2018 revenues forecast of $67.5 billion, increase of $2.5 billion from prior guidance and earnings per share plus/minus 5% to $3.79.

Moody’s Corporation ((MCO)) decreased 1.2% or $1.89 to $162.79 after the credit ratings provider said revenues in the first-quarter ending in March soared 16% from a year ago to $1.1 billion.

Net income in the quarter jumped 7.9% to $372.9 million or $1.92 per diluted share from $345.6 million or $1.78 in the same quarter last year.

Moody’s said revenue in the U.S. increased 3% to $597.7 million and non-U.S. revenue surged 33% to $529 million.

Phillips 66 ((PSX)) fell 1.3% or $1.47 to $111.05 after the oil refiner reported revenues in the first-quarter ending in March increased 1.4% from a year ago to $24 billion.

Net income in the quarter fell 2% to $524 million or $1.07 per diluted share from $535 million or $1.02 in the same quarter last year.