U.S. Movers: Chesapeake, General Mills, HP, Lowe's, Toll Brothers

Mukesh Buch
23 Feb, 2011
New York City

Chesapeake Energy reported fourth quarter net income of $180 million. DIRECTV said net income in the quarter of $618 million. HP first quarter net income soared 16% to $2.6 billion. Lowe''s fourth quarter net earnings surged 39% to $285 million. Westlake Chemical quarterly net rose to five-fold.

[R]11:00 AM New York – Chesapeake Energy reported fourth quarter net income of $180 million. DIRECTV said net income in the quarter of $618 million. Hewlett-Packard first quarter net income soared 16% to $2.6 billion. Lowe''s fourth quarter net earnings surged 39% to $285 million. Westlake Chemical quarterly net rose to five-fold.[/R]

Of 30 the stocks in the Dow, 18 increased and 10 decreased and 2 unchanged.

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 1.20% followed by increase in Exxon Mobil Corporation of 0.96%, in Chevron Corporation of 0.93%, in JPMorgan Chase & Co. of 0.85%, in The Walt Disney Company of 0.73%.

Hewlett-Packard Company led the decliners with a fall of 11.09%, followed by decline in Intel Corporation of 0.92%, in General Electric Company of 0.91%, in Alcoa Inc of 0.62%, in E. I. du Pont de Nemours and Company of 0.59%.

Other Movers

American National Insurance Company ((ANAT)) increased 1.6% or $1.39 to $83.60 after the insurance company reported fourth quarter revenue fell to $783.3 million from $786.6 million a prior year. Net income in the quarter increased to $35.5 million or $1.33 per diluted share compared to $34.9 million or $1.31 per share a year ago period.

For the full year net sales increased 4.4% to $3.06 billion from $2.94 billion a prior year. Net income surged to $144.0 million or $5.40 per diluted share compared to $15.6 million or $0.59 per share a year ago period.

Barnes & Noble, Inc. ((BKS)) rose 0.3% or 6 cents to $16.00 after the bookseller said third quarter total sale increased 7% to $2.3 billion from $2.1 million a prior year. Barnes & Noble.com comparable sales increased 64% and Barnes & Noble comparable store sales increased 7.3%. Net income in the quarter fell to $60.5 million or $1.00 per diluted share compared to $80.4 million or $1.38 per share a year ago.

Bruker Corporation ((BRKR)) declined 2.1% or 40 cents to $18.25 after the manufacturer of scientific instruments reported fourth quarter revenues grew 14% to $416.1 million from $366.4 million in the prior-year quarter. Net income in the quarter declined 33% to $29.3 million or 18 cents per diluted share compared to net income of $43.5 million or 26 cents per share last year.

Chesapeake Energy Corporation ((CHK)) rose 0.8% or 28 cents to $32.32 after the natural gas producer said fourth quarter revenue decreased 11% to $1.98 billion from $2.22 billion in the same quarter last year. Net income generated in the quarter was $180 million or 28 cents per diluted share compared to a loss of $530 million or 84 cents per share in the prior-year quarter.

Annual revenues increased 22% to $9.37 billion from $7.70 billion in the year-ago. For the full-year 2010, net income was $1.66 billion or $2.51 per share compared to a net loss of $5.85 billion or $9.57 per share in the previous year.

Cabot Oil & Gas Corporation ((COG)) surged 7.2% or $2.90 to $42.73 after the oil and gas company reported fourth quarter operating revenue decreased to $216.8 million from $233.5 million a prior year. Net income in the quarter increased to $49.1 million or 47 cents per diluted share compared to $36.3 million or 34 cents per share a year ago period.

Directv, Incorporated ((DTV)) gained 3.4% or $1.53 to $45.76 after the television entertainment company reported fourth quarter revenue increased 11% to $6.62 billion from $5.98 billion a prior year. Net income in the quarter was to $618 million or 74 cents per diluted share compared to net loss of $32 million or 3 cents per share a year ago period. Increase of revenue mainly due to growth of new subscribers.

For the full year net revenue increased 12% to $24.1 billion from $21.5 billion a prior year. Net income increased to $2.2 billion or $2.30 per diluted share compared to $0.942 billion or $0.95 per share a year ago.

Dollar Tree, Inc. ((DLTR)) decreased 1.5% or 77 cents to $51.40 after the discount variety store operator said fourth quarter net sales rose 10.7% to $1.72 billion from $1.56 billion a year earlier. Comparable store sales increased 3.9%. Net income in the quarter rose 9.4% $162.5 million or $1.29 per diluted share compared to $135.0 million or $1.01 per share for the year-ago quarter.

For the full year net sales increased 12.4% to $5.88 billion from $5.23 billion a prior year. Comparable store sales increased 6.3%. Net income surged 6.8% to $397.3 million or $3.10 per diluted share compared to $320.5 million or $2.37 per share a year ago period.

Dillard''s, Inc. ((DDS)) soared 5.5% or $2.22 to $42.67 after the apparel and home furnishing retailer said fourth quarter total revenue rose to $1.98 billion from $1.87 billion a prior year. Comparable stores sales increased 7% for the period and total merchandise sales increased 6%. Net income in the quarter increased to $109.6 million or $1.75 per diluted share compared to $79.5 million or $1.08 per share a year ago period.

For the full year total revenues edged up to $6.25 billion from $6.23 billion a prior year. Net income surged to $179.6 million or $2.67 per diluted share compared to $68.5 million or $0.93 per share a year ago period.

Frontier Communications Corporation ((FTR)) tumbled 6.8% or 62 cents to $8.59 after the communications company reported fourth quarter revenue surged to $1,358.7 million from $521.0 million a prior year. Net income in the quarter soared to $45.99 million or 5 cents per diluted share compared to $4.4 million or 1 cent per share a year ago period.

For the full year net revenue increased to $3.8 billion from $2.1 billion a prior year. Net income increased to $152.6 million or 23 cents per diluted share compared to $120.7 million or 38 cents per share a year ago.

General Mills, Inc. ((GIS)) rose 0.4% or 15 cents to $36.91 after the packaged food supplier said that it is on-track to achieve the sales and earnings growth targets it set for 2011. The company said it continues to anticipate low single-digit growth in net sales, a mid single-digit increase in segment operating profit, and adjusted earnings between $2.46 and $2.48 per share.

Herbalife Ltd. ((HLF)) advanced 3.8% or $2.72 to $72.57 after the global network marketing company reported fourth quarter sales increased 17% to $738.3 million from $630.8 million a prior year. Net income in the quarter increased to $81.0 million or $1.31 per diluted share compared to $55.6 million or $0.88 per share a year ago period.

For the full year sales increased to $2.73 billion from $2.32 billion a prior year. Net income increased to $290.5 million or $4.67 per diluted share compared to $203.3 million or $3.22 per share a year ago.

Hertz Global Holdings, Inc ((HTZ)) rose 0.5% or 10 cents to $15.25 after the car and equipment rental company reported fourth quarter total revenues increased 5.5% to $1.83 billion from $1.74 billion last year. Net loss in the quarter narrowed 5.5% to $29.2 million or 7 cents per diluted share compared to a loss of $30.9 million or 8 cents per share in the previous year, primarily reflecting higher car rental revenues on an increase in the number of transactions.

Hewlett-Packard Company ((HPQ)) tumbled 11% or $5.32 to $42.91 after the technologies, software solutions and service provider reported first quarter net revenue increased 4% to $32.3 billion from $1.68 billion a prior year. Net income in the quarter soared 16% to $2.6 billion or $1.17 per diluted share compared to $2.3 million or $0.93 per share a year ago period amid strong demand from commercial customers.

For the second quarter, the company estimates revenue in the range of $31.4 billion to $31.6 billion and GAAP diluted earnings per share in the range of $0.99 to $1.01. For the full year fiscal 2011 revenue expects in the range $130 billion to $131.5 billion and GAAP diluted earnings per share in the range of $4.46 to $4.54.

ITC Holdings Corp. ((ITC)) slipped 1.8% or $1.22 to $66.46 after the electricity transmission company said fourth quarter revenue rose to $189.0 million from $156.5 million a prior year. Net income in the quarter increased to $36.78 million or 71 cents per diluted share compared to $33.5 million or 66 cents per share a year ago period.

Lowe''s Companies, Inc ((LOW)) rose 0.6% or 16 cents to $26.15 after the home improvement retailer stated fourth quarter sales increased 3.1% to $10.48 billion from $10.17 billion in the fourth quarter of 2009 on comparable store sales rise of 1.1%. Net earnings in the quarter grew 39% to $285 million or 21 cents per diluted share compared to net income of $205 million or 14 cents per share last year.

Mohawk Industries, Inc. ((MHK)) fell 0.9% or 57 cents to $56.77 after the floor covering products maker reported fourth quarter net sales decreased 6% to $1.26 billion from $1.35 billion a prior year. Net earnings in the quarter soared to $45.76 million or 66 cents per diluted share compared to $19.78 million or 29 cents per share a year ago period.

For the full year net sales fell to $5.32 billion from $5.34 billion a prior year. Net earnings were $185.47 million or $2.65 per diluted share compared to net loss of $5.5 million or $0.08 per share a year ago.

Nordson Corporation ((NDSN)) surged 15.3% or $14.85 to $111.35 after the technology-based systems maker reported first quarter net revenue increased 23% to $271.0 million from $220.6 million a prior year. Net income in the quarter increased to $45.9 million or $1.33 per diluted share compared to $26.7 million or $0.78 per share a year ago period.

Papa John’s International, Inc ((PZZA)) increased 1.7% or 49 cents to $28.96 after the restaurant operator said fourth quarter net revenue increased 5.2% to $286.8 million from $272.8 million a prior year. Net income in the quarter increased to $14 million or 55 cents per diluted share compared to $13.7 million or 49 cents per share a year ago period.

For the full year net revenue increased 4.4% to $1.13 billion from $1.08 billion a prior year. Net income decreased to $51.9 million or $1.96 per diluted share compared to $57.5 million or $2.06 per share a year ago.

Quanta Services, Inc. ((PWR)) plunged 5.9% or $1.35 to $21.28 after the specialty contracting services provider reported fourth quarter revenue increased to $1.11 billion from $0.98 billion a prior year. Net income in the quarter decreased to $33.7 million or 16 cents per diluted share compared to $43.9 million or 21 cents per share a year ago period.

For the full year net revenue increased to $3.93 billion from $3.32 billion a prior year. Net income decreased to $153.2 million or 72 cents per diluted share compared to $162.2 million or 81 cents per share a year ago.

Toll Brothers, Inc. ((TOL)) gained 2.7% o 58 cents to $21.34 after the luxury home builder reported first quarter revenues increased 2.3% to $334.12 million from $326.70 million in the comparable period. Net income generated in the quarter was $3.42 million or 2 cents per diluted share compared with a loss of $40.75 million or 25 cents per share last year.

Westlake Chemical Corporation ((WLK)) rose 0.5% or 28 cents to $48.57 after the consumer and industrial chemicals maker reported fourth quarter revenue increased to $795.4 million from $630.0 million a prior year. Net income in the quarter increased 500% to $84.1 million or $1.26 per diluted share compared to $12.5 million or $0.19 per share a year ago.

For the full year net revenue increased to $3.17 billion from $2.33 billion a prior year. Net income increased to $221.4 million or $3.34 per diluted share compared to $53.0 million or $0.80 per share a year ago.