U.S. Movers: Coach, Regions Financial, Royal Caribbean

Bikram Pandey
26 Oct, 2010
New York City

Royal Caribbean Cruises Ltd surged after it lifted 2011 estimate. Capella Education Co declined after it estimated slower enrollment growth. Coach Inc soared on higher earnings. Cummins Inc declined after earnings were lower than expected.

[R]2:10 PM New York – Royal Caribbean Cruises Ltd surged after it lifted 2011 estimate. Capella Education Co declined after it estimated slower enrollment growth. Coach Inc soared on higher earnings. Cummins Inc declined after earnings were lower than expected.[/R]

Of the stocks in the Dow, 17 increased, 13 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 1.88% followed by increase in Microsoft Corporation of 1.39%, in Verizon Communications Inc. of 1.05%, in General Electric Company of 0.90%, American Express Company of 0.87%.

E. I. du Pont de Nemours and Company led the decliners with a fall of 2.04% followed by decline in The Travelers Companies, Inc. of 1.10%, in Merck & Co., Inc. of 0.88%, in The Procter & Gamble Company of 0.79, United Technologies Corporation of 0.67%.

Other Movers

Amgen, Inc. ((AMGN)) fell 1.6% or 93 cent to $57.02 after the biotechnology company said third quarter revenue edged higher 0.3% to $3.82 billion, compared to $3.81 billion in the same quarter last year. Net income in the quarter declined 11% to $1.24 billion or $1.28 per diluted share, compared to net income of $1.39 billion or $1.36 per share in the prior-year quarter. Earnings declined on higher R&D costs and flat sales.

Bristol-Myers Squibb Company] ((BMY)) declined 1.4% or 41 cent to $26.75 after the pharmaceutical company said third quarter net revenue was $4,798 million from $4,788 million for the same quarter a year ago period. Net income in the quarter was $949 million or 55 cent per diluted share compared to net income of $966 million or 45 cent a share same quarter a year ago period.

Capella Education Company ((CPLA)) plunged 17.8% or $12.02 to $55.32 after the online postsecondary education services provider said third quarter revenue increased 25.7% to $105.0 million from $83.6 million in the same quarter last year. Net income in the quarter was $13.5 million or 80 cent per diluted share compared to net income of $9.8 million or 57 cent per share for the year-ago quarter.

Cummins Inc. ((CMI)) slumped 5.4% or $5.10 to $89.39 after the engine-related component maker said third quarter net revenue increased 34% to $3.40 billion from $2.53 billion for the same quarter a year ago period. Net income in the quarter tripled to $283 million or $1.44 per diluted share compared to net income of $95 million or $0.48 per share same quarter a year ago period.

Edwards Lifesciences Corp. ((EW)) rose 0.4% or 30 cent to $65.08 after the medical devices and equipment maker reported third quarter sales rose 7.1% to $348.9 million, from $325.7 million last year. Net income in the quarter declined 35% to $48.0 million or 40 cents per diluted share, compared to net income of $73.5 million or 63 cents per share in the previous year.

E. I. du Pont de Nemours & Company ((DD)) slipped 1.7% or 82 cent to $46.88 after the chemical maker reported third quarter total sales grew 17% to $7 billion from $5.96 billion in the same period last year. Net earnings in the quarter declined 10% to $367 million or 40 cents per diluted share compared to $409 million or 45 cents per share last year, reflecting higher expenses and lower pharmaceuticals income.

Ford Motor Company ((F)) gained 1.7% or 24 cent to $14.39 after the auto maker reported third quarter revenues fell 1.3% to $29.9 billion versus $30.3 billion in the comparable period last year. Net income in the quarter surged 70% to $1.69 billion or 43 cents per diluted share compared to net income of $997 million or 29 cents per share last year.

Harris Corporation ((HRS)) increased 2.6% or $1.17 to $46.00 after the communications and information technology company stated first quarter revenue grew 17% to $1.40 billion from $1.20 billion in the prior-year quarter. Net income in the quarter soared 57% to $163.9 million or $1.27 per diluted share, compared to net income of $104.5 million or 79 cents per share in the year-ago quarter. Revenues from the RF Communications segment surged 34% on strong demand for its Tactical Radio Communications offerings.

Kimberly-Clark Corporation ((KMB)) declined 5.5% or $3.71 to $62.76 after the health and hygiene company reported third quarter net sales increased 1.3% to $5.0 billion from $4.9 billion for the same quarter a year ago period. Net income in the quarter plunged 19.4% to $469 million or $1.14 per diluted share compared to net income of $582 million or $1.40 per share same quarter a year ago period.

Plum Creek Timber Co. Inc. ((PCL)) fell 1.4% or 52 cent to $36.49 after the timberland owner reported third quarter revenues fell 12% to $259 million versus $294 million last year. Net income in the quarter soared 68% to $32 million or 20 cents per diluted, compared to net income of $19 million or 12 cents per share last year.

ProLogis ((PLD)) decreased 2.6% or 34 cent to $12.54 after the real estate investment trust stated third quarter revenues grew slightly 0.3% to $270.1 million from $269.3 million a year earlier. Net loss in the quarter widened 28% to $15.1 million or 3 cents per diluted share, compared to a net loss of $11.8 million or 3 cents per share in the year-ago quarter.

Royal Caribbean Cruises Ltd. ((RCL)) surged 15.7% or $5.53 to $40.68 after the cruise company reported third quarter total revenue was $2.1 billion from $1.8 billion for the same quarter a year ago period. Net income in the quarter rose 55% to $356.8 million or $1.64 per diluted share compared to net income of $230.4 million or $1.07 per share in the same quarter a year ago.

Regions Financial Corporation ((RF)) declined 6.4% or 45 cent to $6.58 after the financial holding company reported third quarter net interest income increased $8.7 billion from $8.5 billion for the same quarter a year ago period. Net loss in the quarter was $209 million or 17 cent per diluted share compared to net loss of $437 million or 37 cent per share a year ago period.

The Sherwin-Williams Company ((SHW)) plunged 3.7% or $2.82 to $71.75 after the paint maker reported net sales was $2.172 billion from $1.997 billion for the same quarter a year ago period. Net income in the quarter was $175.3 million or $1.60 per diluted share compared to net income of $175.2 million or $1.51 per share a year ago period.

Staples, Inc. ((SPLS)) fell 0.9% or 20 cent to $20.80 after the office products company estimated GAAP quarterly earnings in the range of $0.38 to $0.40 per share and for fiscal year 2011 earnings in the range of $1.50 to $1.60 per share.

Texas Instruments Incorporated ((TXN)) fell 0.7% or 21 cent to $28.77 after the designer and supplier of digital signal processors said third quarter revenue rose 30% to $3.74 billion from $2.88 billion in the same quarter last year. Net income in the quarter surged 60% to $859 million or 71 cents per diluted share compared to net income of $538 million or 42 cents per share for the year-ago quarter helped by higher revenue and improved margins amid growth in every business segments.