U.S. Movers: AOL, Cognizant, Humana, Loews, Sysco

Mukesh Buch
07 Feb, 2011
New York City

AOL acquire The Huffington Post for $315 million. Cognizant quarterly revenue surged 45% and net income surged 30% to $206.2 million. Humana revenue rose 9% and net income declined 57% to $107.32 million.

[R]11:30 AM New York – AOL acquire The Huffington Post for $315 million. Cognizant quarterly revenue surged 45% and net income surged 30% to $206.2 million. Humana revenue rose 9% and net income declined 57% to $107.32 million.[/R]

Of 30 the stocks in the Dow, 21 increased and 9 decreased.

Of the stocks in the Dow Jones Industrial Average, American Express Company led the gainers with a rise of 2.51% followed by increase in Bank of America Corporation of 2.38%, in General Electric Company of 1.95%, in Hewlett-Packard Company of 1.94%, in Microsoft Corporation of 1.64%.

Pfizer Inc. led the decliners with a fall of 0.98%, followed by decline in AT&T Inc. of 0.79%, in McDonald’s Corporation of 0.73%, in Kraft Foods Inc. of 0.61%, in The Home Depot, Inc. of 0.27%.

Other Movers

AOL Inc. ((AOL)) rose 0.7% or 16 cents to $22.10 after the Internet access and media company agreed to acquire The Huffington Post for $315 million of which $300 million in cash. The newly created content group that will merge MapQuest and MovieFone will have combined of 117 million unique visitors a month in the United States and 270 million around the world, the company press release said.

Cognizant Technology Solutions Corporation ((CTSH)) rose 1 cents to $75.43 after the outsource service provider reported fourth quarter revenue surged 45.2% to $1.31 billion from $8.75 billion last year. Net income in the quarter surged 30% to $206.2 million or 66 cents per diluted share compared to $144.0 million or 47 cents per share in the prior year.

Hasbro, Inc. ((HAS)) gained 1.5% or 68 cents to $45.50 after the toys, games and entertainment company reported fourth quarter revenues fell to $1.28 billion from $1.38 million a prior year. Net earnings in the quarter declined to $140.0 million or $0.99 per diluted share compared to $165.6 million or $1.09 cents per share a year ago.

Humana Inc. ((HUM)) declined 1.8% or $1.11 to $59.43 after the health and supplemental benefits company said fourth quarter revenue increased 9% to $8.35 billion from $7.63 million a prior year. Net income in the quarter declined 57% to $107.32 million or $0.63 per diluted share compared to $2505.65 million or $1.48 cents per share a year ago.

Revenue for the full year 2010 increased 9% to $33.87 billion from $30.96 billion a year ago. For the full year, the company''s net income rose 5.7% to $1.01 billion or $6.47 per diluted share from $1.04 billion or $6.15 per share in the prior year.

Loews Corporation ((L)) surged 5.1% or $2.11 to $43.51 after the holding company reported fourth quarter revenue fell to $3.71 billion from $3.82 million a prior year. Net income in the quarter soared to $466 million or $1.12 per diluted share compared to $403 million or $0.94 cents per share a year ago.

Revenue for the full year 2010 decreased to $14.61 billion from $14.12 billion a year ago. For the full year, net income was $1.29 billion or $3.07 per diluted share compared to $0.56 million or $1.30 per share in the prior year.

Lorillard, Inc. ((LO)) gained 2.7% or $2.04 to $77.04 after the tobacco products maker said fourth quarter net sales increased 7.8% to $1.49 billion from $1.38 million a prior year. Net income in the quarter surged to $259 million or $1.74 per diluted share compared to $242 million or $1.52 cents per share a year ago.

Revenue for the full year 2010 increased 13.4% to $5.93 billion from $5.23 billion a year ago. For the full year, the company''s Net income rose to $1,029 million or $6.78 per diluted share from $948 million or $5.76 per share in the prior year.

Sysco Corporation ((SYY)) plunged 5.6% or $1.68 to $28.20 after the food related products distributor reported second quarter sales increased 5.8% to $9.4 billion from $8.9 million a prior year. Net earnings in the quarter decreased to $557.2 million or $0.95 per diluted share compared to $594.5 million or $1.00 per share a year ago.