Visa reported a 26 percent jump in profit. Higher operating revenue and payments volume helped up the credit card company’s bottom line. Revenue came in just about where the Street was expecting. Shares fell initially after the close, the stock was up slightly in the regular session to $209.40.
Starbucks also reported a higher quarterly profit that matched Wall Street expectations. Revenue rose, but it came in lighter than estimates. The coffee chain also raised its outlook for the year. Shares were initially up after the bell, the stock ended the regular day up about one percent to $71.09.
Aetna posted record first-quarter results helped by a surge in profits from its commercial businesses and adding new customers. Medical membership rose by more than half a million new subscribers in the quarter, not only on the new government health care exchanges, but Aetna also added clients in its traditional large corporation business. The insurer also raised its forecast for the year. Shares climbed nearly six percent to $72.96.
United Continental said its first quarter widened and that sent shares way down in today’s session. The airline saw expenses increase and revenue fall. It blamed flight cancellations from the harsh winter weather for the disappointing earnings. Those cancellations cost the company $200 million. Shares tumbled almost ten percent to $41.53.
American Airlines shares rose after the company reported a record first-quarter profit. The company got a boost from the sale of takeoff and landing slots at Washington’s Reagan National Airport. Also operating expenses fell slightly, but revenue came in lighter than estimates. Still, shares rose slightly to $37.26.
Johnson & Johnson
Johnson & Johnson announced it will raise its quarterly dividend by more than six percent to 70 cents a share. This is the 52nd straight year that the company has hiked its dividend. Still, shares were off slightly to about $100 a share.
Shares of Elizabeth Arden surged today on reports it’s hired Goldman Sachs to explore a sale of its business. The cosmetics company has reportedly reached out to a small group of potential buyers. The stock jumped 13 percent to $36.
Zimmer Holdings & Biomet
A lot of health care deals this week and here’s another one to tell you about. Zimmer Holdings said it would buy rival Biomet in a deal valued at more than $13 billion dollars. The combination is expected to make Zimmer the second-largest seller of orthopedics products behind Johnson & Johnson. Share of Zimmer jumped 11.5 percent to $101.97.