U.S. Movers: AIG, Domino

Mukesh Buch
06 May, 2011
New York City

American International Group reported first quarter net loss of $543 million. DIRECTV first quarter net income rose to $674 million. Kraft Foods first quarter net earnings in the quarter soared 58% to $799 million. Washington Post first quarter net income declined 67% to $15.1 million.

[R]10:30 AM New York – American International Group reported first quarter net loss of $543 million. DIRECTV first quarter net income rose to $674 million. Kraft Foods first quarter net earnings in the quarter soared 58% to $799 million. Washington Post first quarter net income declined 67% to $15.1 million.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Caterpillar Inc. led the gainers with a rise of 2.55% followed by increase in Kraft Foods Inc. of 2.07%, in United Technologies Corporation of 2.03%, in 3M company of 1.60, in American Express Company of 1.60%.

Intel Corporation led the decliners with a fall of 1.31%, followed by decline in Wal-Mart Stores, Inc. of 0.07%.

Other Movers

Alcatel Lucent ((ALU)) slumped 2.2% or 14 cents to $6.12 after the France based transformation products provider reported first quarter revenue soared 15.2% to €3.7 billion from €3.2 billion in the same quarter last year. Net loss in the quarter narrowed to €10 million or €0.00 per diluted share compared to €515 million or €0.23 per share a year ago.

American International Group, Inc. ((AIG)) rose 0.8% or 26 cents to $31.05 after the insurance company reported first quarter net premiums written surged 19.9% to $9.17 billion compared to $7.64 billion in the same period last year. Net loss in the quarter was $543 million or $0.35 per diluted share compared to net income of $359 million or $2.66 per share a year ago.

CF Industries Holdings, Inc. ((CF)) soared 8.2% or $10.65 to $139.86 after the fertilizer product maker said first quarter revenues increased to $196 million from $118.8 million last year. Net earnings in the quarter surged to $120.9 million or $3.60 per diluted share compared with $33.9 million or $1.78 per share in the prior year.

DIRECTV ((DTV)) increased 1.1% or 54 cents to $48.83 after the television entertainment provider reported first quarter revenues surged 13% to $6.32 billion compared to $5.61 billion in the same period last year. Net income in the quarter increased to $674 million or 85 cents per diluted share compared to $558 million or 59 cents per share a year ago.

Domino’s Pizza, Inc. ((DPZ)) gained 2.7% or 58 cents to $21.88 after the pizza delivery company said first quarter total revenues rose to $389.2 million from $381.1 million last year. The company''s domestic same store sales declined 1.4%. Net income in the quarter grew 7% to $27.1 million or 43 cents per diluted share compared with $24.5 million or 41 cents per share in the prior year.

Dolby Laboratories, Inc. ((DLB)) declined 4.7% or $2.40 to $48.37 after the entertainment technology provider reported second quarter revenues rose to $250 million from $243.4 million last year. Net income in the quarter fell to $82.1 million or 72 cents per diluted share compared with $85.9 million or 74 cents per share in the prior year.

EOG Resources, Inc. ((EOG)) surged 6.3% or $6.65 to $111.00 after the gas and crude oil explorer reported first quarter revenues increased to $1.89 billion compared to $1.37 billion in the same period last year. Net income in the quarter increased to $134 million or 52 cents per diluted share compared to $118 million or 46 cents per share a year ago.

Kraft Foods Inc. ((KFT)) gained 2.3% or 79 cents to $34.18 after the packaged food maker reported first quarter net revenues surged 11.1% to $12.6 billion compared to $11.3 billion in the same period last year. Net earnings in the quarter soared 57.6% to $799 million or $0.45 per diluted share compared to $1,883 million or $1.17 per share a year ago.

Mohawk Industries, Inc. ((MHK)) soared 7.6% or $4.80 to $67.97 after the floor covering products maker said first quarter net sales nearly flat to $1.34 billion compared to $1.35 billion in the same period last year. Net earnings in the quarter rose to $23.4 million or 34 cents per diluted share compared to $20.5 million or 30 cents per share a year ago.

National Fuel Gas Company ((NFG)) advanced 3.5% or $2.41 to $71.41 after the holding company reported second quarter revenues fell to $660.8 million compared to $667.9 million in the same period last year. Net income in the quarter increased to $115.6 million or $1.38 per diluted share compared to $80.4 million or $0.97 per share a year ago.

Pepco Holdings, Inc. ((POM)) increased 1.5% or 30 cents to $19.62 after the holding company reported first quarter revenues declined to $1.63 billion compared to $1.82 billion in the same period last year. Net income in the quarter increased to $64 million or 28 cents per diluted share compared to $36 million or 16 cents per share a year ago.

Public Storage ((PSA)) increased 1.6% or $1.91 to $117.87 after the real estate investment trust reported first quarter revenues declined to $419.8 million compared to $397.4 million in the same period last year. Net income in the quarter increased to $206.1 million or 87 cents per diluted share compared to $123.9 million or 21 cents per share a year ago.

The Washington Post Company ((WPO)) decreased 1.8% or $7.96 to $424.60 after the education and media company reported first quarter revenues decreased 7% to $1.06 billion compared to $1.14 million in the same period last year. Net income in the quarter declined 67% to $15.1 million or $1.87 per diluted share compared to $45.4 million or $4.91 per share a year ago.

United States Cellular Corporation ((USM)) increased 1.5% or 75 cents to $49.25 after the wireless telecommunication provider reported first quarter revenues increased to $985.1 million compared to $965.0 million in the same period last year. Net income in the quarter increased to $34.1 million or 40 cents per diluted share compared to $47.4 million or 54 cents per share a year ago.

Visa Inc. ((V)) rose 0.8% or 66 cents to $79.36 after the electronic payments processor reported second quarter revenues surged 15% to $2.2 billion compared to $1.9 billion in the same period last year. Net income in the quarter increased to $881 million or $1.23 per diluted share compared to $713 million or $0.96 per share a year ago.