Tesla Revenues Jump as Loss Widens; Aetna and Cigna in Focus

Mukesh Buch
02 Aug, 2018
New York City

AmerisourceBergen quarterly results showed healthy growth and met market expectations. Aetna revenues were ahead of expectations. Becton Dickinson net swung to profit. Cigna lifted outlook. Duke Energy missed earnings estimates.Tesla net loss widened but revenues doubled.

[R]12:20 PM New York City, New York – AmerisourceBergen quarterly results showed healthy growth and met market expectations. Aetna revenues were ahead of expectations. Becton Dickinson net swung to profit. Cigna lifted outlook. Duke Energy missed earnings estimates.Tesla net loss widened but revenues doubled.[/R]

Tollbooth Index decreased 60.11 or 0.4% to 15,634.17 but for the year-to-date soared 13.6%.

Earnings Review

AmerisourceBergen Corporation ((ABC)) fell 57 cents to $78.92 after the drug distributors reported revenues in the third-quarter ending in June soared 11.5% from a year ago to $43.1 billion.

Net income in the quarter surged 32.1% to $275.8 million or $1.25 cents per diluted share from $50.4 million or 23 cents in the same quarter last year.

Aetna Inc ((AET)) rose 11 cents to $186.90 after the health insurance services provider said total revenues in the second-quarter ending in June edged up 0.3% from a year ago to $15.6 billion.

Net income in the quarter rose 1% to $1.21 billion or $3.43 cents per diluted share from $1.20 billion or $3.42 in the same quarter last year.

Becton Dickinson and Company ((BDX)) declined 3.2% or $7.99 to $242.02 after the medical surgical products maker reported revenues in the third-quarter ending in June surged 41% from a year ago to $4.3 billion.

Net in the quarter swung to profit $556 million or $2.03 cents per diluted share from a loss of $165 million or 75 cents in the same quarter last year.

The surgical products maker lifted fiscal 2018 revenues growth to exceed 31.5% from the earlier estimate of 31% to 31.5% and diluted earnings per share forecast in the range of $10.95to $11.05 from the earlier estimate of $10.90 to $11.05.

Cigna Corporation ((CI)) gained 1.3% or $2.34 to $185.27 after the health insurance services said total revenues in the second-quarter ending in June soared 10% from a year ago to $11.5 billion.

Net income in the quarter fell 0.9% to $806 million or $3.29 cents per diluted share from $813 million or $3.15 in the same quarter last year.

Cognizant Technology Solutions Corporation ((CTSH)) plunged 8.6% or $7.09 to $75 after the technology outsourcing services provider stated revenues in the second-quarter ending in June advanced 9.2% from a year ago to $4 billion.

Net income in the quarter slid 3% to $456 million or 78 cents per diluted share from $470 million or 80 cents in the same quarter last year.

Cognizant forecasted fiscal 2018 revenue in the range of $16.05 billion to $16.30 billion and diluted earnings per share of about $4.50.

Duke Energy Corp ((DUK)) slipped 67 cents to $80.38 after the electricity and gas provider said revenues in the second-quarter ending in June increased 1.4% from a year ago to $5.6 billion.

Net income in the quarter plunged 27.1% to $500 million or 71 cents per diluted share from $686 million or 98 cents in the same quarter last year.

Separately, Duke Energy filed request with the Florida Public Service Commission to recover investment costs associated with the building of new domestic solar plants.

Exelon Corp ((EXC)) increased 1.2% or 50 cents to $42.50 after the power and gas supplier reported revenues in the second-quarter ending in June advanced 5.2% from a year ago to $8.1 billion.

Net income in the quarter jumped to $539 million or 56 cents per diluted share from $95 million or 10 cents in the same quarter last year.

Tesla Inc ((TSLA)) surged 9.7% or $29.32 to $330.16 after the electric vehicles maker reported revenues in the third-quarter ending in June soared 42.9% from a year ago to $4 billion.

Net loss in the quarter widened to $717.5 million or $4.22 cents per diluted share from $336.4 million or $2.04 in the same quarter last year.