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Earnings Analysis: 
Agilent Net Soars; Hilton Net Swing to Loss and Pepsi Net Falls 18%
Author: Mukesh Buch
123jump.com
Last Update: 2:36 AM ET February 15 2017



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12:00 PM New York AIG fourth-quarter net loss widened to $3.04 billion. Analog Devices fourth-quarter net surged 32% to $217 million. Agilent Technologies first-quarter net soared 39% to $168 million. Hilton Worldwide fourth-quarter net swung to a loss of $387 million. PepsiCo fourth-quarter net plunged 18% to $1.4 billion.

Tollbooth Index rose 17.75 or 0.2% to 11,666.58.

Earnings Review

American International Group Inc (AIG), the insurance services provider reported net loss in the fourth-quarter ending in December widened to $3.04 billion or $2.96 per diluted share compared to $1.84 billion or $1.50 per share in the same quarter last year.

The insurer said results includes $5.6 billion or $3.56 per share impact from prior-year adverse reserve charge to cover possible future claims.

Most of loss in the quarter was for long-term risks on U.S. commercial insurance policies that are already written.

However, in January, the insurer agreed to pay about $10.2 billion to a subsidiary of Berkshire Hathaway Inc to take on the risk associated with those policies.

Analog Devices, Inc (ADI), the integrated circuits maker said revenues in the fourth-quarter ending in December soared 28% from a year ago to $984.4 million.

Net income in the quarter surged 32% to $217.2 million or 69 cents per diluted share compared to $164.5 million or 52 cents per share in the same quarter last year.

The chip maker forecasted revenues in the year between $870 million and $950 million and earnings per share in the range of 84 cents to 86 cents.

Agilent Technologies Inc (A), the medical diagnostics equipment maker said revenues in the first-quarter ending in December advanced 4% from a year ago to $1.07 billion.

Net income in the quarter soared 39% to $168 million or 52 cents per diluted share compared to $121 million or 36 cents per share in the same quarter last year.

Fossil Group Inc (FOSL), the watches and accessories maker stated net sales in the fourth-quarter ending in December slipped 3.3% from a year ago to $959.2 million.

Net income in the quarter declined 29.4% to $49.7 million or $1.03 per diluted share compared to $70.4 million or $1.46 per share in the same quarter last year.

Hilton Worldwide Holdings Inc (HLT), the hotels, motels and cruise operator said sales in the fourth-quarter ending in December rose 2.2% from a year ago to $2.92 billion.

Net in the quarter swung to a loss of $387 million or $1.17 per diluted share compared to profit of $814 million or $2.47 per share in the same quarter last year.

Hilton reaffirmed revenue per available room in fiscal 2017 to grow between 1% and 3% and earnings per share to increase between $1.65 and $1.75.

PepsiCo, Inc (PEP), the food and beverage maker reported revenues in the fourth-quarter ending in December jumped 5% from a year ago to $19.52 billion.

Net income in the quarter plunged 18% to $1.4 billion or 97 cents per diluted share compared to profit of $1.7 billion or $1.17 per share in the same quarter last year.

The beverage maker said revenues in Frito-Lay North America soared 10% to $4.9 billion while North America beverage sales jumped 8% to $6.3 billion.
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