Duke Energy Net Jumps on Rising Electricity Demand, JetBlue Traffic Jumps

Mukesh Buch
10 May, 2018
New York City

AMC Networks reported strong first-quarter results. Duke Energy reported higher demand in electric utilities business helped quarterly revenues. Enbridge net tumbled 30%. JetBlue Airways April passenger count jumped 5.7%. Revlon net loss widened.

[R]1:10 PM New York City, New York – AMC Networks reported strong first-quarter results. Duke Energy reported higher demand in electric utilities business helped quarterly revenues. Enbridge net tumbled 30%. JetBlue Airways April passenger count jumped 5.7%. Revlon net loss widened.[/R]

Tollbooth Index jumped 196.08 or 1.3% to 15,252.48 but for the year-to-date jumped 10.8%.

Earnings Review

AMC Networks Inc ((AMCX)) surged 9.3% or $4.92 to $58.05 after the pay-TV cable networks operator said net revenues in the first-quarter ending in March rose 2.9% from a year ago to $741 million.

Net income in the quarter soared 15.4% to $156.9 million or $2.54 per diluted share from $136.2 million or $1.98 in the same quarter last year.

The pay-TV services provider said revenues in the national networks segment increased 2.9% to $633 million and revenues in the international and other business jumped 4.3% to $111.4 million.

Brookfield Asset Management Inc ((BAM)) jumped 3.3% or $1.33 to $41.19 after the Canada-based asset manager reported revenues in the first-quarter ending in March more than doubled from a year ago to $12.6 billion.

Net income in the quarter surged to $1.9 billion or 85 cents per diluted share from $518 million or loss of 8 cents in the same quarter last year.

The asset manager said as of March 31, assets under management were about $285 billion and fee bearing capital soared 12% to $127 billion.

Duke Energy Corporation ((DUK)) gained 70 cents to $78.34 after the electricity and gas services provider said revenues in the first-quarter ending in March soared 7% from a year ago to $6.1 billion.

Net income in the quarter plunged 13.4% to $620 million or 88 cents per diluted share from $716 million or $1.02 in the same quarter last year.

The utility provider beat estimates on higher demand in electric utilities business.

Enbridge Inc ((ENB)) advanced 3.8% or $1.21 to $33.32 after the Canada-based renewable and alternative energy producer reported net income in the first-quarter ending in March tumbled 30.3% to $445 million from $638 million.

JetBlue Airways Corporation ((JBLU)) increased 1% or 19 cents to $18.90 after the airline operator said passenger numbers in April soared 5.7% to 4.3 million and capacity jumped of 5.3% and load factor for April 2018 increased 4 basis points to 85.7% from a year ago month.

Revlon, Inc ((REV)) declined 5% or $1 to $18.90 after the beauty and personal-care products maker said reported revenues in the first-quarter ending in March slumped 5.7% from a year ago to $560.7 million.

Net loss in the quarter widened to $90.3 million or $1.71 per diluted share from $37.4 million or 71 cents in the same quarter last year.