Movers: Caterpillar, General Motors, J&J, McDonald's, UBS, UPS, Whirlpool

Scott Peters
31 Jan, 2023
New York City

Caterpillar Inc declined 3.3% to $253.01 after the company reported a rise in sales and earnings but missed analysts' expectations. 

Caterpillar said fourth quarter revenue increased 20% to $16.6 billion from $13.8 billion on higher sales volume and price increase. 

Net income in the quarter declined to $1.45 billion from $2.12 billion and diluted earnings per share fell to $2.79 from $3.91 a year ago. 

Construction machinery sales increased 34% in North America and soared 39% in Latin America. 

General Motors jumped 1.7% to $38.06 after the vehicle maker reported better-than-expected quarterly earnings. 

Fourth quarter revenue increased 28.4% to $43.1 billion after the company sold more vehicles in the U.S.

Net income in the quarter increased 14.8% to $1.99 billion from $1.74 billion and diluted earnings per share dropped to $1.39 from $1.10 a year ago. 

Johnson & Johnson declined 4% to $162.0 after a U.S. District Court in Philadelphia rejected the company's bankruptcy move and said it must face claims related to its talcum powder.  

The company is facing about 40,000 lawsuits filed by women who claimed to have developed ovarian cancer after using the company's talcum powder products laced with asbestos.  

McDonald's Corp declined 2.5% after the fast food chain operator reported a rise in sales driven by price increase and new stores. 

McDonald's reported a strong quarterly sales increase after global comparable sales increased 12.6% and in the U.S. rose 10.6%. 

Revenue in the fourth quarter declined 1% to $5.9 billion from $6.0 billion and net income increased 16% to $1.9 billion from $1.6 billion. 

Diluted earnings per share rose to $2.59 from $2.18 a year ago. 

Revenue in 2022 was flat at $23.2 billion and net income fell 18% to $6.2 billion from $7.5 billion a year ago. 

UBS Group AG declined 2% to $20.83 after the financial services provider said revenue declined but earnings rose in the fourth quarter. 

UBS said fourth quarter revenue declined 9% to $8.0 billion from $8.2 billion a year ago. 

Net income in the quarter rose to $1.65 billion from $1.34 billion and diluted earnings per share rose to 50 cents from 38 cents a year ago. 

In 2022, the Swiss bank repurchased $5.6 billion of its stock and the company said it plans to buy back $5 billion of its shares in 2023. 

The company also proposed a dividend of 55 cents to shareholders on record April 13 and payable on April 14, subject to the approval from the company's board at the shareholder meeting on April 5. 

United Parcel Service rose 1.7% to $179.90 after the company reported better-than-expected earnings. 

said fourth quarter consolidated revenue increased 2.7% to $27.0 billion.

Revenue in the U.S. rose 3.1% driven by price increase and higher revenues per piece of 7.2%. 

The parcel delivery service provider increased its quarterly dividend to $1.62 per share on all outstanding Class A and Class B shares payable on March 10 to shareowners of record on February 21.

The company board also approved a new stock repurchase program of $5.0 billion, replacing the existing plan. 

Whirlpool Corp rose 2.2% to $156.80 after the company reported mixed quarterly results but exceeded expectations set by analysts 

Whirlpool said fourth quarter net sales declined 15.3% to $4.3 billion and swung to a net loss of $1.6 billion from $300 million. 

Diluted loss per share was $29.35 compared to a profit per share of $4.90 a year ago.