Bristol-Myers Squibb's income rises 76%
(8:09 AM ET) LONDON (MarketWatch) -- Bristol-Myers Squibb Co.
BMY
+0.31%
Thursday reported fourth-quarter earnings of $852 million, or 50 cents a
share, up from $483 million, or 28 cents, in the year-ago period. The
drug maker saw revenue rise 7% to $5.5 billion from $5.1 billion in the
year-ago period. Adjusted earnings came in at 53 cents a share, compared
to 47 cents a share on a year-ago basis. Analysts surveyed by FactSet
Research expected earnings of 55 cents a share on revenue of 5.5
billion. The New York-based company said it expects earnings for 2012 to
range between $1.90 and $2.00 for the full year. Shares of
Bristol-Myers Squibb were down 0.1% in pre-market trade.
3M 4th-period net up 2.8%; outlook affirmed
(8:02 AM ET) NEW YORK (MarketWatch) -- 3M Corp.,
MMM
+1.64%
the St. Paul, Minn., technology company, reported on Thursday that
fourth-quarter net income rose 2.8% on 5.7% higher sales and it affirmed
its outlook for the year. Earnings were $954 million, or $1.35 a share,
versus $928 million, or $1.28, in the year-earlier quarter. Shares
outstanding fell 2.8% to 707.5 million. Sales reached $7.09 billion from
$6.71 billion. A survey of analysts by FactSet Research produced a
consensus estimates of $1.31 a share of profit on $7.09 billion of
revenue. For the year, 3M estimated earnings would range $6.25 to $6.50 a
share. That compares with the FactSet estimate of $6.33 a share.
United Continental narrows loss, revenue up 5.5%
(8:00 AM ET) NEW YORK (MarketWatch) -- United Continental Holdings Inc.
UAL
+2.74%
said Thursday its fourth-quarter loss narrowed to $138 million, or 42
cents a share, from $325 million, or $1.01 a share, in the year-ago
period. Excluding $247 million in special items, the Chicago-based
airline earned 30 cents a share, in the latest period. Revenue increased
by 5.5% to $8.93 billion. Wall Street analysts expected United
Continental to earn 13 cents a share on revenue of $8.93 billion,
according to a survey by FactSet Research. UAL ended the year with $8.3
billion in cash and undrawn lines of credit.
Caterpillar profit up 60% on record sales
(7:54 AM ET) NEW YORK (MarketWatch) -- Caterpillar Inc.
CAT
+2.71%
said Thursday its fourth-quarter profit jumped 60% to $1.55 billion, or
$2.25 a share, from $968 million, or $1.47 a share, in the year-ago
period. Breaking out the impact of its Bucyrus acquisition, Caterpillar
earned $2.32 a share. Revenue increased 35% to $17.24 billion, an
all-time quarterly record. The Peoria, Ill.-based maker of bulldozers
was expected to earn $1.76 a share on revenue of $15.95 billion,
according to a survey by FactSet Research. Looking ahead, Caterpillar
expects 2012 earnings of about $9.25 a share, ahead of the analyst
estimate of $9.07 a share.
(7:45 AM ET) LONDON (MarketWatch) -- Automotive retailer AutoNation, Inc.
AN
+4.71%
Thursday reported fourth quarter net income of $69.4 million, or 49
cents per share, versus $67.3 million, or 45 cents per share, in the
year-ago period. Analysts polled by FactSet Research were forecasting
quarterly net profit of $69.1 million, or 49 cents per share. Total
revenue hit $3.67 billion from $3.24 billion in the year-ago period.
AutoNation's new vehicle unit sales advanced 10% on a same-store basis
and rose 13% overall. Mike Jackson, chairman and chief executive
officer, said: "We are pleased with our strong year-over-year growth
across all areas of our business." AutoNation said that it set a record
for adjusted EPS from continuing operations for the quarter, which hit
$0.51, a rise of 13% compared to the year-ago period.
Raytheon's earnings rise 18%
(7:42 AM ET) LONDON (MarketWatch) -- Raytheon Co.
RTN
+0.08%
Thursday reported fourth-quarter earnings of $543 million, or $1.58 a
share, compared with $459 million, or $1.26 a share, in the year-ago
period. Revenue declined 6% to $6.5 billion from $6.9 billion in the
fourth quarter last year. Adjusted earnings were $1.74 a share, up from
$1.55. Analysts surveyed by FactSet Research expected earnings of $1.34 a
share, on revenue of $6.7 billion. The Waltham, Mass.-based company
said it expects adjusted earnings for 2012 to come in between $5.45 and
$5.60 on revenue between $24.5 billion and $25 billion.
Nokia swings to loss on 21% lower sales
(7:41 AM ET) LONDON (MarketWatch) -- Finnish mobile-phone maker Nokia Corp.
NOK
+4.18%
FI:NOK1V
+3.21%
swung to a fourth-quarter net loss of 1.07 billion euros ($1.4 billion),
or 0.29 euro a share, compared with net income of 745 million euros, or
0.2 euro a share, in the year-earlier period. Adjusted net income was
0.06 euro a share versus 0.22 euro. Sales fell 21% to 10 billion euros
from 12.65 billion. Nokia did not provide targets for 2012, saying this
will be a transition year, "during which our devices-and-services
business will be subject to risks and uncertainties." Nokia sold 19.6
million units in the closely watched smartphone segment in the fourth
quarter of 2011, down 31% from the year-earlier quarter. Nokia launched
its first Windows smartphones in October and CEO Stephen Elop said in a
Thursday statement that the range accounted for "well over 1 million" of
the units sold in the fourth quarter. Analysts polled by Bloomberg
estimated Nokia would sell 1.3 million Windows smartphones. While "we
progressed in the right direction in 2011, we still have a tremendous
amount to accomplish in 2012," Elop said.
McCormick & Co. profit dips, sales up 13%
(7:31 AM ET) NEW YORK (MarketWatch) -- McCormick & Co.
MKC
+1.53%
said Thursday its fourth-quarter profit fell to $131.7 million, or 98
cents a share, from $133.6 million, or 99 cents a share, in the year-ago
period. Breaking out a one-time charge of 5 cents a share for
transaction costs, McCormick earned $1.03 a share in the latest quarter.
Sales rose to $1.11 billion from $979.5 million. Wall Street analysts
expected McCormick to earn 98 cents a share on revenue of $1.08 billion,
according to a survey by FactSet Research. The Sparks, Md.-based spice
maker expects 2012 profit of $3.01 to $3.06 a share, compared to the
analyst estimate of $3.10 a share.
AmerisourceBergen profit rises
(7:27 AM ET) NEW YORK (MarketWatch) -- AmerisourceBergen Corp.
ABC
+0.43%
said on Thursday that its fiscal first-quarter profit rose to $116
million, or 62 cents a share compared to $160.5 million, or 57 cents a
share a year ago. Revenue for the quarter came in at $20.36 billion,
compared to $19.89 billion a year ago. Analysts polled by FactSet
Research had expected the firm to earn 63 cents a share on revenue of
20.02 billion.
Baxter profit rises 9%, sales up
(7:17 AM ET) NEW YORK (MarketWatch) -- Baxter International Inc.
BAX
+0.28%
said Thursday its fourth-quarter profit rose 9% to $463 million, or 82
cents a share, from $423 million, or 72 cents a share, in the year-ago
period. Adjusted earnings totaled $1.17 a share in the latest quarter.
Revenue increased 3% to $3.59 billion. Wall Street analysts expected
Baxter to earn $1.17 a share on revenue of $3.58 billion, according to a
survey by FactSet Research. Baxter expects first-quarter earnings of 98
cents to $1 a share, before special items, compared to the analyst
estimate of $1.04 a share. For 2012, Baxter forecasts earnings of $4.47
to $4.57 a share, against the estimate of $4.62 a share.
Lockheed Martin net off 29% on 4.3% lower sales
(6:54 AM ET) NEW YORK (MarketWatch) -- Lockheed Martin Corp.,
LMT
-0.62%
the Bethesda, Md., aerospace-and-defense major, reported fourth-quarter
net income fell 29% on 4.3% lower sales. Net income fell to $683
million, or $2.09 a share, from $961 million, or $2.67, in the
year-earlier quarter. Continuing operations generated profit of $2.14 a
share against $2.28 a year earlier. Shares outstanding fell 9.2% to
326.7 million. Sales slipped to $12.21 billion from $12.76 billion. A
survey of analysts by FactSet Research produced consensus estimates of
$1.95 a share of profit on $12.3 billion of revenue. For 2012, LMT
expects to earn $7.70 to $7.90 a share from continuing operations on
revenue of $45 billion to $46 billion. FactSet's survey is looking for
$7.78 a share of profit on $46.2 billion of revenue.
Time Warner Cable net up: $4B buyback planned
(6:23 AM ET) NEW YORK (MarketWatch) -- Time Warner Cable Inc.,
TWC
+0.13%
the New York provider of cable-TV and other services, reported that
fourth-quarter net income rose 44% on 4% higher revenue, said it would
buy back as much as $4 billion of stock and lifted the quarterly
dividend 17%. Profit reached $564 million, or $1.75 a share, from $392
million, or $1.09, in the year-earlier quarter. Adjusted net was $1.39 a
share versus 99 cents. Revenue rose to $4.99 billion from $4.8 billion.
A survey of analysts by FactSet Ressearch produced consensus estimates
of $1.19 a share of profit on $4.97 billion of revenue. The new dividend
is 56 cents a share, up from 48 cents, payable March 15 to holders of
record Feb. 29.
Logitech shares off 10% after outlook cut
(3:37 AM ET) MADRID (MarketWatch) -- Shares of Logitech International SA
CH:LOGN
-12.95%
fell nearly 9% on Thursday in the wake of a fall in fiscal third-quarter
net profit and sales and a cut in its fiscal 2012 full-year outlook.
Reporting late Wednesday, the computer-mouse maker said net income fell
15% to $55.33 million against $65 million in the year-ago period, while
sales fell 5% to $715 million from $754 million in the year-ago period.
Guerrino De Luca, Logitech chairman and acting chief executive officer,
said since the company last provided its full-year at the end of
October, the euro has weakened considerably. "In addition, webcams and
remotes continue to be impacted more than expected by product portfolio
and market weakness. Consequently, we have lowered our outlook for
fiscal-year 2012 sales and operating income," he said in a statement.
For the fiscal year ending March 2012, the company now expects sales of
$2.3 billion and operating income of $60 million, with the gross margin
for the full year still seen at around 33%.
Hyundai Motor posts 38% rise in Q4 net profit
(2:03 AM ET) HONG KONG (MarketWatch) -- Hyundai Motor Co.
HYMLF
-7.42%
reported Thursday a 38% rise for its fourth-quarter net profit compared
to a year earlier, as stronger overseas sales were boosted by a slide in
the South Korean won. Manufacturing-related disruptions among Japanese
rivals also helped to offset weaker sales at home. Net profit for the
three months ended in December totaled 2.002 trillion won ($1.79
billion), compared to 1.451 trillion won a year earlier, the company
said in a statement. The result was below expectations of 2.24 trillion
won, according to a poll by Bloomberg News. Hyundai share were quoted
1.1% lower in late trading Thursday following the results' announcement.
Samsung F&M poised to rise, says Citi
(12:40 AM ET) HONG KONG (MarketWatch) -- Samsung Fire & Marine
Insurance Co. stands to benefit from new management, including the
appointment of a new chief executive last month and a chief financial
officer transferred recently from Samsung's life-insurance business,
Citigroup analysts said Wednesday. Management appears to be adopting a
strategy which is more about growth than risk-control and includes a
plan to add 30,000 salesmen, more than doubling the existing 27,000,
Citi said. Samsung F&M is due to release earnings Tuesday, though
Citi said the results are likely to disappoint because of claims related
to the Thailand floods last year and tax adjustments. Shares of Samsung
F&Mtraded 0.4% higher in Seoul early Thursday afternoon.
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