Jan 29- Hess Corp on Wednesday reported a quarterly profit well below Wall Street expectations as oil and natural gas production lagged due to instability in Libya and maintenance in the U.S. For the fourth quarter, Hess reported net income of $1.93 billion, or $5.76 per share, compared with $374 million, or $1.10 per share, a year earlier.
The company also took a charge for the recently announced sale of its contact lens business, 1-800 Contacts, to private equity firm Thomas H. Lee Partners, which caused a sharp decline in net profit. Competitor Aetna Inc is in about 16 states while UnitedHealth Group Inc, the largest insurer, has only offered plans in a few states.
Some of the names on the move ahead of the open.
Howard Rubel, Jefferies & Co., shares his thoughts on Boeing's fourth quarter results and the outlook for the company.
Jan 29- Canadian Pacific Railway, Canada's second largest railway, reported a five-fold jump in fourth-quarter profit, as freight revenue rose 7 percent. Net profit rose C $82 million, or 47 Canadian cents per share, in the fourth quarter, from C $15 million, or 8 Canadian cents, a year earlier. Revenue was up 7 percent to C $1.6 billion.
Thomas Fanning, chairman, president & CEO of Southern Company, breaks down his company's fourth quarter numbers and weighs in on how this winter's extremely cold weather is impacting the energy industry.
Jan 29- Biogen Idec Inc said on Wednesday its new, high-profile oral multiple sclerosis drug Tecfidera had sales of $398 million in the fourth quarter, easily exceeding estimates for a third successive quarter and keeping it on track to top $1 billion in its first year on the market.
Boeing posted quarterly results Wednesday that exceeded expectations, but share prices dropped sharply on its 2014 revenue and profit projections.
Jan 29- Oil and natural gas producer Hess Corp posted a jump in quarterly profit on Wednesday due in part to one-time gains from the sale of energy terminals and other assets, but production fell. For the fourth quarter, Hess reported net income of $1.93 billion, or $5.76 per share, compared with $374 million, or $1.10 per share, a year earlier.
Jan 29- Food storage maker Tupperware Brands Corp reported lower-than-expected quarterly results, hurt by weak sales in established markets such as Germany, Canada and the United States. Net income rose to $89.7 million, or $1.74 per share, for the fourth quarter ended Dec. 28 from $74.5 million, or $1.34 per share, a year earlier.
Jan 29- Dow Chemical Co reported a better-than-expected quarterly profit and tripled its share buyback program to $4.5 billion, joining rival DuPont in increasing shareholder returns amid investor activism.
Jan 29- Marathon Petroleum Corp, the third-largest stand-alone U.S. refining company, posted a 17 percent drop in quarterly profit on Wednesday due to shrinking crude discounts and rising maintenance costs.
CNBC's Phil LeBeau breaks down Boeing's quarterly numbers, and provides a look at its guidance.
Jan 29- Rockwell Automation Inc, which makes systems that help factories run smoothly, posted a 23 percent rise in quarterly profit, partly due to sales increases in the United States and Asia Pacific. Net income rose to $198.1 million, or $1.41 per share, in the first quarter ended Dec. 31 from $161.4 million, or $1.14 per share, a year earlier.
WellPoint, which sells Empire and Anthem Blue Cross Blue Shield plans, said its costs went up as it prepared for the rollout of Obamacare and an expected increase in new members this year. Competitor Aetna Inc is in about 16 states while UnitedHealth Group Inc, the largest insurer, has only offered plans in a few states.
Jan 29- Dow Chemical Co raised its dividend 15 percent and expanded its share buyback program to $4.5 billion from $1.5 billion after posting a fourth-quarter profit. Net income available for common stockholders was $963 million, or 79 cents per share, in the quarter ended Dec. 31.
Andrew Liveris, President, Chairman & CEO of Dow Chemical, breaks down the chemical company's fourth quarter results and shares his thoughts on Dan Loeb's call to spin-off its petrochemical business.
Jan 29- Biogen Idec Inc on Wednesday said fourth-quarter profit soared 57 percent, helped by strong sales of its new multiple sclerosis drug, Tecfidera. The U.S. biotechnology company's net profit rose to $457.3 million, or $1.92 per share, in the quarter ended Dec. 31, from $292.1 million, or $1.23 per share, a year earlier.
Jan 29- WellPoint, the second-largest U.S. health insurer, on Wednesday reported a lower quarterly profit as it took a charge for the sale of its contact lens business, and it said 2014 earnings would also decline. The company forecast earnings of at least $8 per share in 2014, representing a likely drop from the $8.52 it earned in 2013 before special items.
Shebly Seyrafi, FBN Securities, breaks down Yahoo's earnings and provides perspective on the company's value, CEO Mayer's management style, and the outlook on Alibaba.