Blackstone, Genuine Parts, Nucor, Philip Morris, Travelers Shine with Earnings

12:40 PM New York City, New York – Alcoa swung to profitability supported by tariffs. The Blackstone revenues soared 11%. Genuine Parts lifted fiscal outlook. Philip Morris beat earnings estimates. Travelers Co reported strong results.

Tollbooth Index fell 31.08 or 0.2% to 15,868.76 but for the year-to-date soared 13.9%.

Earnings Review

Alcoa Corporation (AA) surged 8.4% or $3.09 to $39.79 after the aluminum producer said revenues in the third-quarter ending in September soared 14.5% from a year ago to $3.4 billion.

Net in the quarter swung to a loss of $41 million or 22 cents per diluted share from profit of $113 million or 60 cents in the same quarter last year.

The Blackstone Group L.P. (BX) fell 26 cents to $35.83 after the asset manager and financial service provider reported revenues in the third-quarter ending in September soared 11% from a year ago to $1.9 billion.

Net income in the quarter jumped 14% to $949 million or 64 cents per diluted share from $834.8 million or 55 cents in the same quarter last year.

Genuine Parts Company (GPC) advanced 2.4% or $2.33 to $97.47 after the automobile replacement parts distributor said sales in the third-quarter ending in September jumped 15% from a year ago to $4.7 billion.

Net income in the quarter soared 39% to $220.2 million or $1.49 per diluted share from $158.4 million or $1.08 in the same quarter last year.

Genuine Parts lifted fiscal 2018 sales growth forecast to between 14% and 15% from the earlier estimate of 13% to 14% and diluted earnings per share in the range of $5.50 to $5.60.

Nucor Corporation (NUE) fell 57 cents to $58.52 after the steel products producer stated net sales in the third-quarter ending in September rose 4% from a year ago to $6.7 billion.

Net income in the quarter surged to $676.7 million or $2.13 per diluted share from $254.9 million or 79 cents in the same quarter last year.

Nucor forecasted fiscal fourth-quarter earnings will be remarkably higher than the year ago period.

Philip Morris International Inc (PM) jumped 3.6% or $3.08 to $87.64 after the cigarette and tobacco products maker reported net revenues in the third-quarter ending in September grew 0.4% from a year ago to $7.5 billion.

Net income in the quarter jumped 14.1% to $2.2 billion or $1.44 per diluted share from $1.9 billion or $1.27 in the same quarter last year.

Philip Morris reaffirmed fiscal 2018 diluted earnings per share forecast in the range of $4.97 to $5.02 from $3.88 in the same period a year ago.

The Travelers Companies Inc (TRV) slumped 1.7% or $2.13 to $124.31 after the property casualty insurance provider said total revenues in the third-quarter ending in September advanced 5% from a year ago to $7.7 billion.

Net income in the quarter soared to $709 million or $2.62 per diluted share from $293 million or $1.05 in the same quarter last year.

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