Cooper Tire, Mercury General, Tower Intl Surge; First Data Tumbles

Mukesh Buch
29 Oct, 2018
New York City

Booz Allen reaffirmed fiscal outlook after net income soared. Cooper Tire surged despite net plunged. Dana beats profit estimates. First Data lowered fiscal outlook. Mercury General net soared 26%. Tower Intl reported strong results.

[R]12:35 PM New York City, New York – Booz Allen reaffirmed fiscal outlook after net income soared. Cooper Tire surged despite net plunged. Dana beats profit estimates. First Data lowered fiscal outlook. Mercury General net soared 26%. Tower Intl reported strong results.[/R]

Tollbooth Index surged 236.36 or 1.6% to 15,314.99 but for the year-to-date soared 11.3%.

Earnings Review

Affiliated Managers Group Inc ((AMG)) increased 1.4% or $1.60 to $117.13 after the boutique asset manager said revenues in the third-quarter ending in September rose 2.7% from a year ago to $601.3 million.

Net income in the quarter declined 6.9% to $201.9 million or $2.34 per diluted share from $216.8 million or $2.22 in the same quarter last year.

Booz Allen Hamilton Holding Corp ((BAH)) soared 5.1% or $2.40 to $49.22 after the consulting services provider reported revenues in the second-quarter ending in September advanced 4.6% from a year ago to $1.6 billion.

Net income in the quarter surged 25.9% to $92.7 million or 64 cents per diluted share from $73.6 million or 49 cents in the same quarter last year.

Booz Allen reaffirmed fiscal 2018 revenues growth in the range of 6% to 8% and diluted earnings per share between $2.55 and $2.65.

Cooper Tire & Rubber Company ((CTB)) surged 18% or $4.57 to $29.99 after the tire maker said net sales in the third-quarter ending in September grew 0.5% from a year ago to $737.7 million.

Net income in the quarter plunged 12.9% to $53.7 million or $1.07 per diluted share from $61.7 million or $1.18 in the same quarter last year.

Dana Inc ((DAN)) slumped 2.4% or 40 cents to $16.23 after the automobile parts supplier said sales in the third-quarter ending in September soared 8% from a year ago to $1.9 billion.

Net income in the quarter surged 25.9% to $95 million or 65 cents per diluted share from $69 million or 46 cents in the same quarter last year.

Dana reaffirmed fiscal 2018 revenues growth of 12% or between $7.75 billion to $8.05 billion and operating profit in the range of $950 million to $1.01 billion and diluted earnings per share in the range of $2.75 to $3.05.

First Data Corp ((FDC)) tumbled 12.7% or $2.75 to $18.85 after the financial services provider reported total revenues in the third-quarter ending in September plunged 22.6% from a year ago to $2.4 billion.

Net income in the quarter surged 35.5% to $401 million or 42 cents per diluted share from $296 million or 31 cents in the same quarter last year.

First Data lowered fiscal 2018 revenues growth forecast in the range of 5% to 6% from the earlier estimate of 7% to 8% and operating margin growth to between 6.5% to 8.5% from the earlier estimate of 8% to 10% and diluted earnings per share in the range of $1.38 to $1.40 from the earlier estimate of $1.42 to $1.47.

Mercury General Corp ((MCY)) soared 12.3% or $6.22 to $56.85 after the property-casualty insurance provider said total revenues in the third-quarter ending in September increased 4.2% from a year ago to $894.8 million.

Net income in the quarter jumped 26% to $58.6 million or $1.06 per diluted share from $46.5 million or 84 cents in the same quarter last year.

Tower International Inc ((TOWR)) jumped 15.6% or $3.85 to $28.57 after the automobile structural metal components maker stated revenues in the third-quarter ending in September soared 14% from a year ago to $525 million.

Net income in the quarter surged 51.7% to $22.6 million or $1.07 per diluted share from $14.9 million or 72 cents in the same quarter last year.

Tower International forecasted fiscal 2018 revenues of about $2.17 billion and operating profit of about of $230 million and diluted earnings per share to increase 10 cents to $4.20.