U.S. Movers: Atlas Energy, Akamai, McDermott, priceline.com, Yahoo

Bikram Pandey
09 Nov, 2010
New York City

U.S. stocks traded mixed. Akamai Technologies plunged 4% after Netflix Inc dropped the company as its service provider. Atlas Energy Inc soared 35% after Chevron offered $3.2 billion for the company. Priceline.com and McDermott International surged after posting better than expected earnings.

[R]1:10 PM New York – U.S. stocks traded mixed. Akamai Technologies plunged 4% after Netflix Inc dropped the company as its service provider. Atlas Energy Inc soared 35% after Chevron offered $3.2 billion for the company. Priceline.com and McDermott International surged after posting better than expected earnings.[/R]

Of the 30 stocks in the Dow, 10 increased, 20 decreased and none were unchanged.

Of the stocks in the Dow Jones Industrial Average, Exxon Mobil Corporation led the gainers with a rise of 0.92% followed by increase in Microsoft Corporation of 0.76%, in Alcoa, Inc. of 0.69%, in Wal-Mart Stores, Inc. of 0.24% and in International Business Machines Corporation 0.2%.

Kraft Foods Inc. led the decliners with a fall of 1.54%, followed by decline in Merck & Co., Inc. of 1.21%, in Chevron Corporation of 1.01%, in 3M Company of 0.94%, in Bank of America Corporation of 0.91%.

Other Movers

Akamai Technologies, Inc. ((AKAM)) plunged 4% or $2.20 to $51.94 after Netflix Inc dropped the company as its Internet services provider.

BlackRock, Inc. ((BLK)) decreased 1.3% or $2.24 to $166.85 after the investment manager announced that it has priced the secondary offering of 51,075,758 shares of its common stock, which includes 43.6 million shares of its common stock offered by Bank of America Corporation and 7.5 million shares by The PNC Financial Services Group, Inc. at a price per share of $163.00.

Carrizo Oil & Gas, Inc. ((CRZO)) surged 9.6% or $2.38 to $27.03 after the energy company reported third quarter revenue rose to $30.5 million from $27.3 million in the same quarter last year. Net income in the quarter was $24.3 million or 69 cents per diluted share compared to net loss of $4.79 million or 15 cents per share in the prior-year quarter.

Dean Foods Company ((DF)) declined 15.8% or $1.64 to $8.72 after the food and beverage company reported third quarter sales increased to $3.05 billion from $2.76 billion in the prior year. Net income in the quarter plunged to $24.30 million or 13 cents per diluted share compared to net income of $49.65 million or 27 cents per share a year ago.

McDermott International, Inc. ((MDR)) soared 9.3% or $1.50 to $17.47 after the engineering construction company said third quarter revenue decreased to $732.1 million from $1,012.5 million a year ago period. Net income in the quarter was $20.8 million or 9 cent per diluted share compared to $118.1 million or 50 cent share same quarter a prior year period.

priceline.com Inc ((PCLN)) gained 9.2% or $35.81 to $424.02 after the online travel company reported third quarter net sales increased 37.1% to $1.0 billion from $0.73 million a year ago period. Net income in the quarter decreased to $222.98 million or $4.41 per diluted share compared to $318.98 million or $6.42 per share same quarter a year ago.

Rockwell Automation, Inc. ((ROK)) slumped 1% or 68 cent to $65.65 after the industrial automation provider reported fourth quarter revenue increased 25% to $1,356.9 million from $1,074.4 million a year ago period. Net income in the quarter increased to $131.3 million or 91 per diluted share compared to $28.9 million or 20 cent per share same quarter a year ago period.

For the fiscal year net revenue rose 12% to $4,857.0 million compared to $4,332.5 million for the same period a year ago. Net income $464.3 million or $3.22 per diluted share compared to $220.7 million or $1.55 per diluted share same period a year ago.

Tyco International Ltd. ((TYC)) fell 0.4% or 17 cent to $38.94 after the fire and security product maker reported fiscal fourth quarter revenue rose 4% to $4.49 billion compared to $4.32 billion for the same period a year ago. Net income was $266 million or 53 cent per diluted share compared to $205 million or 43 cent per diluted share in the same quarter a year ago.

For the fiscal year net revenue rose 1% to $17.02 billion compared to $16.88 billion for the same period a year ago. Net income was $1.3 billion or $2.32 per diluted share compared to net loss of $1.80 billion or $3.80 per diluted share same period a year ago.

Yahoo! Inc ((YHOO)) gained more than 5% on media speculation that private equity firm KKR & Co may look to take company to take private. Alibaba.com, Hong Kong based ecommerce platform operator said that it may buy back Yahoo stake in the company that may cost as much as $5 billion.