Intel Lifted Forecast; Twitter Tumbles, Exxon Net Soars on Oil Price Surge

Mukesh Buch
27 Jul, 2018
New York City

Exxon Mobil net and revenues surged. Intel lifted fiscal outlook on strong earnings. Merck profit disappointed but revenues jumped.Rockwell revenues jumped on higher government supply. Twitter tumbled on lower monthly users.

[R]12:30 PM New York City, New York – Exxon Mobil net and revenues surged. Intel lifted fiscal outlook on strong earnings. Merck profit disappointed but revenues jumped.Rockwell revenues jumped on higher government supply. Twitter tumbled on lower monthly users.[/R]

Tollbooth Index declined 117.24 or 0.7% to 15,835.19 but for the year-to-date soared 15.1%.

Earnings Review

Colgate-Palmolive Co ((CL)) fell 53 cents to $66.41 after the consumer product maker said net sales in the second-quarter ending in June rose 1.5% from a year ago to $3.9 billion.

Net income in the quarter soared 21.6% to $637 million or 73 cents per diluted share from $524 million or 59 cents in the same quarter last year.

The consumer product maker reaffirmed fiscal 2018 net sales to increase in low-single-digit and earnings per share to grow in double digit percentage.

Exxon Mobil Corp ((XOM)) declined 3.5% or $2.93 to $81.31 after the oil and gas explorer and refiner said total revenues in the second-quarter ending in June soared 26.5% from a year ago to $73.5 billion.

Net income in the quarter surged 17.9% to $3.9 billion or 92 cents per diluted share from $3.4 billion or 78 cents in the same quarter last year.

Intel Corporation ((INTC)) tumbled 8.7% or $4.52 to $47.64 after the chip and microprocessors maker reported total revenues in the second-quarter ending in June surged 15% from a year ago to $17 billion.

Net income in the quarter jumped 78% to $5 billion or $1.05 per diluted share from $2.8 billion or 58 cents in the same quarter last year.

Intel lifted fiscal 2018 revenues forecast to about $70.5 billion from $68.5 billion and diluted earnings per share to $4.36 from the earlier estimate of $3.94

Merck & Company Inc ((MRK)) slipped 1.1% or 71 cents to $63.31 after the pharmaceutical products maker said total sales in the second-quarter ending in June jumped 5% from a year ago to $10.5 billion.

Net income in the quarter declined 10.5% to $1.7 billion or 63 cents per diluted share from $1.9 billion or 71 cents in the same quarter last year.

Merck forecasted fiscal 2018 revenues in the range of $42 billion to $42.8 billion and diluted earnings per share in the range of $2.51 to $2.59.

Moody''s Corporation ((MCO)) slumped 3.3% or $6.08 to $179.64 after the credit and ratings services provider said revenues in the second-quarter ending in June jumped 17% from a year ago to $1.2 billion.

Net income in the quarter soared 20.5% to $376.2 million or $1.94 per diluted share from $312.2 million or $1.61 in the same quarter last year.

Rockwell Collins, Inc ((COL)) rose 39 cents to $138.64 after the communications, aviation and military products maker reported revenues in the third-quarter ending in June advanced 5% from a year ago to $2.2 billion.

Net income in the quarter surged 53.6% to $275 million or $1.66 per diluted share from $179 million or $1.12 in the same quarter last year.

Rockwell said avionics division in government systems soared 15% and navigation and communication business sales jumped 9%.

Twitter Inc ((TWTR)) tumbled 19.4% or $8.32 to $34.62 after the social networks platform provider said revenues in the second-quarter ending in June soared 24% from a year ago to $711 million.

Net in the quarter swung to profit $100.1 million or 17 cents per diluted share from a loss of $116.5 million or 8 cents in the same quarter last year.

Twitter said advertising revenue in the quarter jumped 23% to $601 million and revenues in the data licensing and other segment soared 29% to $109 million.

Twitter said average monthly active users in the quarter were 335 million from 326 million in the same period a year ago and 336 million in the previous quarter.