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Markets Watch: Anheuser Busch Inbev SA (ADR) (NYSE:BUD), Exxon Mobil Corporation (NYSE:XOM), Intermolecular Inc (NASDAQ:IMI)

Markets Watch: Anheuser Busch Inbev SA (ADR) (NYSE:BUD), Exxon Mobil Corporation (NYSE:XOM), Intermolecular Inc (NASDAQ:IMI)
Written by
Joel Najarian
Published on
October 31, 2014
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Anheuser Busch Inbev SA (ADR) (NYSE:BUD), the world's largest brewer reported Q3 earnings and sales below the consensus of analysts polled by Capital IQ. Anheuser Busch Inbev SA (ADR) (NYSE:BUD) said results were hurt by sharp declines in Russia and Ukraine and due to weakness in the U.S. Q3 net income rose to $2.31 billion, or $1.42 per share, from $2.21 billion, or $1.36 per share, yet below the Street forecast of $1.51 per share.Revenues rose 4.3% year-on-year to $12.24 billion, also missing the consensus of $12.46 billion. In Q3, total volume dropped 2.6% with beer volumes decreasing 2.7% and non-beer volumes falling 0.9%. U.S. beer sales to wholesalers fell 3.7% relative to Q3 2013. On a more positive note, the brewer noted that the low profit growth in the quarter was a one-off event and that it does not reflect anticipated future trends.Exxon Mobil Corporation (NYSE:XOM), the oil giant reported Q3 results above analysts' expectations, with its earnings climbing despite declines in revenue and oil-equivalent production, as margins improved in its downstream and chemical businesses. XOM is trading in a 52-week range of $86.91 to $104.76. Net income attributable to the company rose to $8.07 billion, or $1.89 per share, from $7.87 billion, or $1.79 per share. Analysts polled by Capital IQ were expecting $1.72.Total revenue and other income slipped to $107.49 billion from $112.37 billion but topped the $103.63 billion expected on average by the Street. Oil-equivalent production decreased 4.7%. Excluding the impact of the expiry of the Abu Dhabi onshore concession, production decreased 1%, with liquids up 0.6% and gas down 2.9%. Upstream earnings were $6.42 billion, down $297 million from Q3 2013, as lower realizations decreased earnings by $670 million. However, downstream earnings were $1.02 billion, up $432 million from Q3 2013, as stronger margins, primarily refining, increased earnings by $820 million. And the chemical segment's earnings of $1.20 billion were $175 million higher than in Q3 2013.Intermolecular Inc (NASDAQ:IMI), the company which is involved in research and development for semiconductor and clean energy industries, posted better-than-expected Q3 results, even though its loss widened and sales fell. On an adjusted basis, the net loss was $3.2 million, or $0.07 per share, compared to a net loss of $0.8 million, or $0.02 per share, in the third quarter of 2013. That's better than the loss of $0.09 that analysts had been expecting.For Q3, the company's net loss widened to $5.0 million, or $0.11 per share, compared to a net loss of $2.2 million, or $0.05 per share, a year ago. Analyst estimates weren't available. Intermolecular Inc (NASDAQ:IMI) revenue was $10.9 million, a decline of 39% from $17.7 million in the year-ago period, and slightly ahead of forecasts for $10.64 million.For Q4, the company projects revenue in the range of $10 to $11 million. It sees a Q4 non-GAAP net loss, excluding stock-based compensation expense, of $4.5 million and $5.5 million, or between $0.10 per share to $0.12 per share. Analysts are looking for a loss of $0.08 on revenue of $11.19 million. The stock recently traded at $2.35 with a 52-week range of $1.93 - $5.81.

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