Market Focus


LinkedIn turned in a strong quarter the social network for professionals saw its revenue pop more than 30 percent and earnings grew faster than expected. Its best performing division was its recruiting unit. Shares popped in initial after-hours trading, before falling back. Before the close the stock was off two percent to $227.15.


Sales of an arthritis drug and cost-cutting helped Amgen post an earnings beat. The biotech company also hiking its full-year earnings and revenue forecast. Shares rose right after the close. The stock finished the regular session up a fraction to $171.69.


Cigna, which just agreed to sell itself to Anthem, reported better-than-expected second quarter earnings. Medical services use was low, which helped the insurer keep costs down and the firm saw customer growth. The company’s deal with anthem would combine two of the largest insurers, and as the CEO explains, expand its offerings. Shares were off one percent to $143.90.


Another company pointing fingers at the stronger dollar. Colgate Palmolive saw its profit slip, but it managed to meet expectations. This is the toothpaste maker’s fourth straight quarter of sales declines. Shares fell one percent to $68.02.


Mondelez hiked its revenue target as its results came in strong. The Oreo cookie maker said its ability to hike prices helped bolster its top line, despite currency headwinds. Shares popped five percent to $45.27.


Some good news for Avon. The beauty products firm reported another quarter of sales declines, but it managed to turn a profit for the first time in years. Also, Avon declared a dividend of six cents a share. The stock rose about 2.5 percent to $5.51.

Starwood Hotels 

Starwood beat consensus on both fronts. The hotel chain says a revamping of its cost structure helped results. Separately, according to press reports, the company is in talks with potential bidders including Intercontinental Hotels and Wyndham about a possible sale. Shares slipped five percent to $78.20.


Truck company OshKosh reported a double-digit drop in quarterly profit, blaming, what else, the U.S. dollar. On that, the firm cut its full year earnings forecast. Shares tumbled more than seven percent to $36.05.

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