U.S. Movers: CommScope, RadioShack, Sykes, Value Line

Bikram Pandey
25 Oct, 2010
New York City

Sykes Enterprises Inc surged after it reported higher than expected earnings. Value Line Inc soared 18% after it declared a special dividend. Sohu.com Inc advanced more than 10% after quarterly net exceeded expectations. CommScope Inc soared more than 30% on the company plans to go private.

[R]12:35 AM New York – Sykes Enterprises Inc surged after it reported higher than expected earnings. Value Line Inc soared more than 18% after it declared a special dividend. Sohu.com Inc advanced more than 10% after quarterly net exceeded expectations. CommScope Inc soared more than 30% after the company plans to go private.[/R]

Of the stocks in the Dow, 27 increased, 2 decreased and 1 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Alcoa Inc. led the gainers with a rise of 2.44% followed by increase in E. I. du Pont de Nemours and Company of 2.24%, in Kraft Foods Inc. of 2.01%, in Caterpillar Inc of 1.81%, Cisco Systems, Inc of 1.75%.

Microsoft Corporation led the decliners with a fall of 0.34% followed by decline in Bank of America Corporation of 0.13%.

Other Movers

Assured Guaranty Corp ((AGO)) dropped as much as 10% after the S&P Rating Services lowered its financial strength rating to AA+ from AAA.

Boardwalk Pipeline Partners, LP ((BWP)) declined 1.2% or 42 cent to $33.51 after the natural gas pipeline company said third quarter revenue increased 25% to $257.6 million from $205.4 million in the same quarter last year. Net income in the quarter surged 197% to $55.8 million or 28 cent per diluted share, compared to net income of $18.8 million or 10 cent per share for the year-ago quarter.

Coca-Cola Enterprises Inc. ((CCE)) fell 0.08% or 2 cent to $24.61 after the marketer, producer and distributor of non-alcoholic beverages said its board of directors declared a regular quarterly dividend of 12 cents per common share.

CommScope Inc ((CTV)) soared more than 30% after the company is in talks to go private through Carlyle Group.

Pre-Paid Legal Services Inc ((PPD)) surged more than 13% above $64 after the company said it received an offer to be acquired at $60 a share.

Genzyme Corporation ((GENZ)) fell 0.2% or 18 cent to $72.27 after the biotechnology company affirmed its fourth quarter earnings outlook and initiated earnings guidance for the full year 2011. For 2011, the company expects revenue, excluding discontinued operations, to increase to $5 billion to $5.1 billion in 2011 from outlook of $4.1 billion for 2010 and non-GAAP earnings of $4.30 to $4.60 per share, much higher than its current guidance of $1.85 to $1.90 per share for 2010.

Invesco Ltd. ((IVZ)) slumped 0.7% or 17 cent to $22.15 after the global investment management company said third quarter net revenue increased 20.1% to $707.1 million from $589.0 million for the same quarter a year ago period. Net income in the quarter was $154.7 million or 32 cent per diluted share compared to net income of $105.2 million or 24 cent per share same quarter a year ago period.

KeyCorp ((KEY)) fell 1.2% or 10 cent to $8.20 after the holding company for KeyBank National Association reported third quarter total revenue, on a taxable equivalent basis, rose 15.2% to $1.13 billion from $981 million in the prior-year period. Net income generated in the quarter was $163 million or 19 cents per diluted share, compared to net loss of $422 million or 50 cents per share last year.

Kronos Worldwide, Inc. ((KRO)) decreased 1.8% or 65 cent to $35.50 after the titanium dioxide pigments maker said third quarter net sales increased 21% to $376.6 million from $310.1 million in the comparable quarter a year ago. Net income in the quarter surged 273% to $32.1 million or 66 cents per diluted share, compared to net income of $8.6 million or 17 cents per share last year driven mainly by higher revenues and improved margins.

Lorillard, Inc. ((LO)) gained 1.9% or $1.65 to $85.70 after the cigarette manufacturer reported third quarter net sales increased 10% to $1.57 billion from $1.42 billion in the same quarter last year. Net income in the quarter rose 16.6% to $274 million or $1.81 per diluted share, compared to net income of $235 million or $1.44 per share for the year-ago quarter.

NuStar Energy L.P. ((NS)) rose 0.4% or 30 cent to $63.25 after the storage and transportation of petroleum product said third quarter revenue was $1,138.4 million from $1,251.2 million in the same quarter last year. Net income in the quarter was $58.4 million or $0.90 per diluted share, compared to net income of $56.1 million or $1.03 per share for the year-ago quarter.

RadioShack Corporation ((RSH)) declined 7.1% or $1.64 to $21.16 after the specialty retailer of wireless communications, electronic parts, batteries and accessories reported third quarter net sales and operating revenues grew 6.2% to $1.05 billion from $990 million in the same period last year. Comparable store sales for company-operated stores and kiosks increased 6.2% during the 2010 third quarter, compared to the 2009 third quarter. Net income in the quarter rose 23% to $46 million or 37 cents per diluted share, compared to net income of $37.4 million or 30 cents per share last year.

Roper Industries, Inc. ((ROP)) gained 1.8% or $1.28 to $70.78 after the diversified growth company reported third quarter sales increased 25% to $605.1 million from $485.7 billion in the same quarter last year. Net earnings in the quarter soared 49% to $84.3 million or 87 cent per diluted share, compared to net earnings of $56.4 million or 61 cent per share for the year-ago quarter.

Shaw Communications Inc. ((SJR.B)) rose 0.7% or 16 cent to $22.28 after the Canada-based diversified communications company stated fourth quarter service revenue rose 8% to C$938.87 million from C$872.92 million in the same quarter of fiscal 2009, driven by customer growth including from acquisitions and rate increases. Net income in the quarter declined 2.2% to C$121.58 million or C$0.28 per diluted share, compared with net income of C$124.27 million or C$0.29 per share last year.

Sykes Enterprises Inc. ((SYKE)) surged as much as 10% after the largest call center operator reported adjusted third quarter net of 35 cents a share.

Value Line Inc ((VALU)) soared more than 20% after the investment research publisher declared a one-time dividend of $2 a share.