U.S. Movers: Aflac, DeVry, F5 Networks, Whirlpool

Bikram Pandey
27 Oct, 2010
New York City

Aflac Inc reported quarterly earnings nearly doubled helped by favorable exchange rate in Japan. DeVry Inc and F5 Networks Inc gained after companies reported better than expected earnings. Whirlpool Corp declined after weaker earnings in the U.S. and Europe.

[R]2:10 PM New York – Aflac Inc reported quarterly earnings nearly doubled helped by favorable exchange rate in Japan. DeVry Inc and F5 Networks Inc gained after companies reported better than expected earnings. Whirlpool Corp declined after weaker earnings in the U.S. and Europe.[/R]

Of the stocks in the Dow, 4 increased, 26 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 2.83% followed by increase in American Express Company of 1.25%, in JPMorgan Chase & Co. of 0.30%, in The Procter & Gamble Company of 0.10%.

The Home Depot, Inc. led the decliners with a fall of 2.27% followed by decline in Merck & Co., Inc. of 2.17%, in Alcoa Inc. of 2.10%, in Hewlett-Packard Company of 1.89, Exxon Mobil Corporation of 1.80%.

Other Movers

AFLAC Incorporated ((AFL)) gained 2.3% or $1.28 to $56.47 after the health and life insurance service provider said third quarter total revenues increased 19.2% to $5.4 billion from $4.5 billion in the same quarter last year. Net earnings in the quarter soared 90% to $690 million or $1.46 per diluted share, compared to $363 million or 77 cents per share in the prior-year quarter,

Allegheny Technologies Incorporated ((ATI)) rose 0.1% or 7 cent to $49.03 after the specialty metals producer reported third quarter sales grew 52% to $1.06 billion from $697.6 million last year, reflecting higher demand from aero-engine market. Net income in the quarter declined 29% to $1.0 million or 1 cent per diluted share, compared to $1.4 million or 1 cent per diluted share in the same quarter of last year.

CB Richard Ellis Group Inc ((CBG)) plunged as much as 9% after cautious comment on the outlook for the real estate broker.

Canadian Pacific Railway Limited ((CP)) declined 2.9% or $1.95 to $63.38 after the Canada based railway operator said third quarter total revenue increased 15% to $1.3 billion from $1.1 billion a year ago period. Net income in the quarter fell 6% to $197.3 million or $1.17 per diluted share compared to $209.3 million or $1.24 per share same quarter a year ago period.

ConocoPhillips ((COP)) decreased 1.4% or 90 cent to $59.92 after the integrated energy company reported third quarter revenue increased to $49.55 billion from $41.27 billion in the same quarter last year. Net income in the quarter surged $3.06 billion or $2.05 per diluted share, compared to $1.47 billion or $0.97 per share in the prior-year quarter.

DeVry Inc ((DV)) surged more than 6% after the vocational training and education company reported fiscal first quarter earnings of $1.03 a share.

DreamWorks Animation SKG, Inc. ((DWA)) soared 3.4% or $1.18 to $35.54 after the animation film maker said third quarter total revenues rose 39% to $188.88 million from $135.45 million in the same quarter last year. Net income in the quarter soared 103% to $39.8 million or 47 cents per diluted share, compared to $19.6 million or 23 cents per share for the year-ago quarter.

F5 Networks Inc ((FFIV)) soared more than 10% after the networking software developer reported better than expected fourth quarter earnings and also initiated a program to buy back $200 million of its shares.

General Dynamics Corporation ((GD)) rose 1.2% or 81 cent to $64.89 the aviation and defense products maker reported third quarter revenue increased 3.8% to $8.01 billion from $7.72 billion for the same quarter a year ago period. Net earnings in the quarter gained 13.6% to $650 million or $1.70 per diluted share compared to $572 million or $1.47 per share same quarter a year ago period.

Hess Corporation ((HES)) fell 1.1% or 69 cent to $61.82 after the global integrated energy company said third quarter revenue gained to $8.95 billion from $7.38 billion in the same quarter last year. Net income in the quarter surged to $1.15 billion or $3.52 per diluted share, compared to $341 million or $1.05 per share for the year-ago

Jones Lang LaSalle Inc ((JLL)) plunged 9% after it reported adjusted earnings of 86 cents a share, lower than expected earnings of at least 93 cents according to a survey conducted by Ticker.com.

Office Depot, Inc. ((ODP)) declined 2.5% or 12 cent to $4.65 after the supplier of office products and services reported third quarter sales declined 4.3% to $2.9 billion from $3.03 billion in the same period last year. Net income generated in the quarter was $54.29 million or 18 cents per diluted share, compared to a net loss of $412.97 million or $1.51 per share last year.

Praxair Inc. ((PX)) slumped 3.1% or $2.95 to $90.55 after the industrial gas supplier reported third quarter net sales increased 11% to $2.5 billion from $2.3 billion a year ago period. Net income in the quarter surged 19% of $377 million or $1.21 per diluted share compared to $325 million or $1.04 per share same quarter a year ago period.

Public Service Enterprise Group Incorporated ((PEG)) slipped 2.8% or 94 cent to $32.46 after the holding company said third quarter net revenues increased to $3.3 billion from $3.0 billion a year ago period. Net income in the quarter increased was $567 million or $1.12 per diluted share compared to $488 million or $0.96 per share same quarter a year ago period.

Northrop Grumman Corporation ((NOC)) rose 0.1% or 9 cent to $61.44 after the defense contractor reported third quarter sales increased 4% to $8.7 billion from $8.3 billion a year ago period. Net earnings in the quarter increased was $497 million or $1.67 per diluted share compared to $490 million or $1.53 per share same quarter previous year.

Sprint Nextel Corporation ((S)) plunged 8.2% or 39 cent to $4.38 after the holding company reported third quarter net revenue rose 1% to $8.2 billion from $8.0 billion a year ago period. Net loss in the quarter increased 91% to $911 million or 30 cent per diluted share compared to $478 million or 17 cent per share same quarter a year ago period.

The Southern Company ((SO)) fell 0.4% or 18 cent to $38.10 after the public utility company reported third quarter net revenues increased 13.6% to $5.32 billion from $4.68 billion a year ago period. Net earnings in the quarter increased was $1.82 billion or $2.20 per diluted share compared to $1.39 billion or $1.77 per share same quarter a year ago period.

TD Ameritrade Holding Corp. ((AMTD)) fell 0.1% or 2 cent to $16.77 after the online broker reported fourth quarter net revenues declined 7.5% to $608.84 million from $657.93 million in the year-ago quarter. Net income in the quarter declined 27.3% to $113.96 million or 20 cents per diluted share, compared to $156.74 million or 26 cents per share in the same period a year ago.

Tellabs, Inc. ((TLAB)) plunged 3.5% or 25 cent to $6.75 after the telecommunications equipment maker reported third quarter total revenue for the quarter grew 10.2% to $429.2 million from $389.3 million in the same quarter last year. Net earnings for the quarter soared 93% to $56.5 million or 15 cents per diluted share, compared to $29.3 million or 7 cents per share in the previous year.

The Procter & Gamble Company ((PG)) fell 0.08% or 5 cent to $62.81 after the provider of consumer packaged goods reported first quarter net sales rose 1.6% to $20.12 billion from $19.81 billion in the prior-year quarter. Net earnings in the quarter declined 6.8% to $3.081 billion or $1.02 per share, compared to $3.307 billion or $1.06 per share in the same quarter last year.

Whirlpool Corporation ((WHR)) declined 4.6% or $3.90 to $80.57 after the home appliance maker stated third quarter sales edged higher 0.5% to $4.52 billion from the previous year''s $4.50 billion. Net income in the quarter declined 9.2% to $79 million or $1.02 per share, compared to $87 million or $1.15 per share in the year-ago quarter.