U.S. Movers: Berkshire Hathaway, Ebix, Lubrizol, Presstek, Seaspan

Mukesh Buch
14 Mar, 2011
New York City

Berkshire Hathaway agreed to buy Lubrizol Corp for $9.7 billion. Ebix fourth quarter net income increased 32% to $15.9 million. Gulfport Energy net income in the quarter rose 57.1% to $14.3 million. Seaspan fourth quarter net income increased 89.6% to $141.6 million.

[R]12:55 PM New York – Berkshire Hathaway agreed to buy Lubrizol Corp for $9.7 billion. Ebix fourth quarter net income increased 32% to $15.9 million. Gulfport Energy net income in the quarter rose 57.1% to $14.3 million. Seaspan fourth quarter net income increased 89.6% to $141.6 million. [/R]

Of 30 the stocks in the Dow, 2 increased and 28 decreased.

Of the stocks in the Dow Jones Industrial Average, Pfizer Inc. led the gainers with a rise of 2.57%, followed by increase in Caterpillar Inc. of 1.01%.

General Electric Company led the decliners with a fall of 3.03%, followed by decline in The Walt Disney Company of 2.70%, in JPMorgan Chase & Co. of 2.32%, in Verizon Communications Inc. of 2.25%, in The Boeing Company of 2.19%.

Other Movers

Berkshire Hathaway Inc ((BRK.A)) declined 1.6% or $2,115.00 to $125,885.00 after the holding company agreed to buy 100% outstanding shares for $135 per share of Lubrizol Corp., ((LZ)) the world''s largest producer of lubricant additives. The transaction valued at $9.7 billion is likely to be complete during the third quarter of 2011.

Ensign Energy Services Inc. ((ESI)) rose 0.3% or 5 cents to $16.10 after the oilfield services provider reported fourth quarter revenue rose 45% to C$404.0 million from C$278.7 million in the year-ago quarter. Net income in the quarter increased 83% to C$41.3 million or C$0.27 per share compared to net income of C$22.6 million or C$0.15 per share for the year-ago period.

Ebix, Inc. ((EBIX)) plunged 5.6% or $1.58 to $26.55 after the insurance software and e-commerce solution provider reported fourth quarter revenues grew 12% to $35.1 million from $31.3 million last year. Net income in the quarter rose 32% to $15.9 million or 42 cents per diluted share compared to $12.1 million or 31 cents per share for the year-ago quarter.

Family Dollar Stores, Inc. ((FDO)) rose 0.2% or 15 cents to $51.42 after the operator of self-service retail discount stores reported second quarter total sales rose 8.3% to $2.26 billion compared with $2.09 billion in the year-ago quarter as comparable store sales increased 5.1%.

Gulfport Energy Corporation ((GPOR)) surged 11.9% or $2.99 to $28.32 after the independent oil and natural gas exploration and production company reported fourth quarter revenues grew 51% to $37.5 million from $24.9 million last year. Net income in the quarter rose 57.1% to $14.3 million or 32 cents per diluted share compared to net income of $9.1 million or 21 cents per share for the year-ago quarter.

Neutral Tandem, Inc. ((TNDM)) tumbled 16.6% or $2.82 to $14.13 after the interconnection service provider said fourth quarter revenues surged 42.6% to $63.8 million from $44.7 million last year. Net income in the quarter decreased to $6.1 million or 18 cents per diluted share compared to $10.5 million or 31 cents per share for the year-ago quarter.

Presstek, Inc. ((PRST)) plunged 12.7% or 33 cents to $2.25 after the offset printing solution provider said fourth quarter total revenues fell to $31.1 million from $33.5 million in the same quarter last year. Net income increased to $6.67 million or 18 cents per diluted share compared to $1.27 million or 3 cents per share in the prior year period.

Seaspan Corporation ((SSW)) gained 1.9% or 30 cents to $15.71 after the Hong Kong based container-ships owner company reported fourth quarter revenues increased 50.1% to $117.9 million from $78.5 million in the same quarter last year. Net income increased 89.6% to $141.6 million or $1.60 per diluted share compared to $74.7 million or $0.78 per share in the prior year period.

Tsakos Energy Navigation Limited ((TNP)) soared 4.9% or 46 cents to $9.84 after the Greece based seaborne crude oil and petroleum service provider said fourth quarter revenue decreased to $94.9 million from $98.8 million in the prior year. Net loss in the quarter improved to $2.63 million or 6 cents per diluted share compared to $16.6 million or 45 cents per share year ago.