Earnings Stories Moving the Markets: WLP, BCS, ERIC, CS

PUBLISHED: Apr 24 2013 @ 10:31 | Comments (0) | More info about Ed Liston

Wellpoint Inc. (NYSE:WLP): The company reported 3 percent increase in its profits for the first quarter of the year. Wellpoint also augmented its forecast for its income in 2013. The company earned $885.2 million in the first quarter of the year, up from $856.5 million it had earned for the corresponding quarter of the year. On per share basis, its adjusted net income stood at $2.94 per share.

Its operating revenue stood at $17.55 billion, up 16 percent. The company lagged behind consensus estimate of $17.86 billion. The stock is currently trading at $73.65, up 6.23 percent. It is trading above its 20 days moving average price of $73.29. The stock oscillated in the range of $71.39 and $74.43 in the current trading session, creating its new 52 weeks high. The company stock’s beta stands at 0.92, implying low volatility. Wellpoint commands the market capitalization of $22.40 billion. The stock gained 4.15 percent of its value in the past 52 weeks, while it has gained 23.06 percent in 2013 so far. It has traded in the range of $52.51 and $74.43 in the past 52 weeks and is currently in the bullish mode. The stock is likely to touch $74.10 in the coming trading sessions. Wellpoint expects to earn $7.80 per share in fiscal year 2013. The company’s earlier forecast stood at $7.60 per share.

Barclays Plc (NYSE:BCS): Its stock traded in the range of $* and $* in the current trading session and at this point is at $18.12, down 1.09 percent. Barclays stock is down after reporting its latest quarterly results. The banking company’s adjusted profit for the quarter stood at $1.3 billion. It had incurred 589 million pound worth of losses in the corresponding quarter of the previous year. Barclays traded 1.66 million shares in this session so far, in comparison to its regular trading volume of 2.93 million. The stock’s highest price point of 52 weeks stands at $20.60 while its lowest price point is at $9.23. Barclays stock is up 33.33 percent in the past 52 weeks while it is up 8.18 percent in 2013 so far. Its stock is trading at beta of 2.69. The company’s dividend yield stands at 2.20 percent. Barclays also incurred 514 million pounds on organizational restructuring. The company’s “Project Transform” is designed to slash 3,700 jobs. The banking company is also looking to trim its investment banking arm.

Ericsson (NASDAQ:ERIC): The wireless equipment company reported 2 percent higher sales for its first quarter. Its revenue for the quarter stood at $7.8 billion. However, its quarterly net income declined 86 percent to 1.2 billion Kronor. The net income was hurt by extra costs incurred in the quarter. The company is currently reorganizing its business and the associated costs also slashed its quarterly net income. The stock is trading at $12.04, 4.33 percent higher than its previous close. The company stock has traded in the range of $11.66 and $12.05 in the current trading session. It has traded 4.11 million shares so far, in comparison to its daily average trading volume of 4.31 million shares. Ericsson stock is currently trading above its 20 days moving average price of $11.93. The stock has traded in the range of $8.23 and $13.46 in the past 52 weeks and gained 27.3 percent of its value in the same time period. The company stock trades at beta of 1.09, implying mild volatility. Ericsson’s current market capitalization stands at $39.79 billion.

Credit Suisse Group AG (NYSE:CS): The Swiss banking company reported its first quarter profits at $1.37 billion or 1.3 billion Swiss francs, up from 44 million francs it had earned in the first quarter of the previous year. Credit Suisse also reported 6 percent increase in its revenue for the quarter to 7.2 billion francs. The company CEO Brady Dougan said, “The first quarter of 2013 shows that the strategic measures we have successfully implemented since mid-2011 are effective in bringing results to the bottom line on a consistent basis.” The stock is trading 1.07 percent higher, at $28.43. The company has traded 206,795 in the current trading sessions so far and its stock has traded in the range of $16.09 and $30.40 in the past 52 weeks. The stock is up 17.49 percent in the year 2013 so far. The company stock’s beta is 1.42, while its P/E ratio stands at 32.81.

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