U.S. Movers: ACE, Cigna, GM, iGATE, Kendle, MetLife, Siemens

Mukesh Buch
05 May, 2011
New York City

ACE first quarter net income declined 66% to $259 million. General Motors first quarter net income rose to $3.2 billion. Kendle International will acquire by INC Research $232 million. Siemens second quarter net income surged 89% to

[R]10:30 AM New York – ACE first quarter net income declined 66% to $259 million. General Motors first quarter net income rose to $3.2 billion. Kendle International will acquire by INC Research $232 million. Siemens second quarter net income surged 89% to €2.8 billion. Timberland first quarter net income fell $17.9 million.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Cisco Systems, Inc. led the gainers with a rise of 0.43% followed by increase in Hewlett-Packard Company of 0.17%.

Chevron Corporation led the decliners with a fall of 1.33%, followed by decline in Verizon Communications Inc. of 1.27%, in Bank of America Corporation of 1.20%, in General Electric Company of 1.07%, in Exxon Mobil Corporation of 1.05%.

Other Movers

ACE Limited ((ACE)) increased 1.5% or $1.04 to $67.51 after the Switzerland based insurance company reported first quarter total gross premiums written declined to $4.64 billion compared to $4.79 billion in the same period last year. Net income in the quarter decreased 66% to $259 million or $0.76 per diluted share compared to $755 million or $2.22 per share a year ago.

Atmos Energy Corporation ((ATO)) fell 0.2% or 8 cents to $34.14 after the natural gas storage and distributor reported second quarter natural gas distribution gross profit soared 2% to $464.8 million compared to $454.3 million in the same period last year. Net income in the quarter increased 16% to $1.32 billion or $1.45 per diluted share compared to $1.14 billion or $1.22 per share a year ago.

Agrium Inc. ((AGU)) increased 2% or $1.69 to $85.70 after the agricultural product maker reported first quarter sales surged 60% to $2.95 billion compared to $1.85 billion in the same period last year. Net earnings in the quarter increased to $171 million or $1.09 per diluted share compared to net loss $1 million or $0.01 per share a year ago.

Cigna Corporation ((CI)) gained 2.7% or $1.26 to $47.18 after the holding company reported first quarter revenues surged 8% to $5.4 billion compared to $5.2 billion in the same period last year. Net income in the quarter increased to $429 million or $1.57 per diluted share compared to $283 million or $1.02 per share a year ago.

CVS Caremark Corporation ((CVS)) rose 0.6% or 25 cents to $36.37 after the healthcare provider reported first quarter net revenues surged 8.9% to $25.9 billion compared to $23.8 billion in the same period last year. Net income in the quarter decreased to $713 million or 52 cents diluted share compared to $771 million or 55 cents per share a year ago.

General Motors Company ((GM)) declined 3.7% or $1.24 to $31.80 after the automotive company reported first quarter revenues surged to $36.2 billion compared to $31.5 billion in the same period last year. Net income in the quarter increased to $3.2 billion or $1.77 per diluted share compared to $0.9 billion or $0.55 per share a year ago.

Gartner, Inc. ((IT)) tumbled 7.2% or $3.07 to $39.05 after the information technology research and advisory company reported first quarter total revenues surged 11% to $329.57 million compared to $295.83 million in the same period last year. Net income in the quarter increased 50% to $29.2 million or 29 cents diluted share compared to $19.4 million or 19 cents per share a year ago.

Goldcorp Inc. ((GG)) slumped 1.5% or 79 cents to $49.99 after the Canada based gold producer reported first quarter revenues surged 69% to $1.2 billion compared to $0.72 billion in the same period last year. Net earnings in the quarter increased to $651 million or 81 cents diluted share compared to $247 million or 29 cents per share a year ago.

iGATE Corporation ((IGTE)) surged 7% or $1.16 to $17.97 after the outsource service provider reported first quarter revenues surged 31% to $75.8 million compared to $57.9 million in the same period last year. Net income in the quarter increased 54% to $17.9 million or 22 cents diluted share compared to $11.6 million or 20 cents per share a year ago.

Icahn Enterprises L.P. ((IEP)) rose 0.5% or 20 cents to $38.60 after the diversified holding company reported fourth quarter revenues surged to $3.10 billion compared to $1.92 billion in the same period last year. Net income in the quarter increased to $240 million or $2.68 per diluted share compared to net loss $65 million or $0.80 cents per share a year ago.

IntercontinentalExchange, Inc. ((ICE)) rose 0.2% or 26 cents to $115.11 after the over-the-counter futures exchange reported first quarter revenues soared 19% to $334.2 million from $281.6 million last year. Net income in the quarter surged 27% to $128.9 million or $1.74 per diluted share compared with $101.1 million or $1.36 per share in the prior year.

Kendle International Inc. ((KNDL)) soared 57.8% or $5.49 to $14.99 after the clinical research organization reported INC Research a therapeutic company held by Avista Capital Partners and Ontario Teachers'' Pension Plan will acquire Kendle in an all cash transaction with total equity value of approximately $232 million.

Murphy Oil Corporation ((MUR)) plunged 4.2% or $3.14 to $70.10 after the oil and gas exploration company reported first quarter revenues surged to $7.35 billion from $5.18 billion last year. Net income in the quarter soared to $268.9 million or $1.38 per diluted share compared with $148.9 million or $0.77 per share in the prior year.

MetLife, Inc. ((MET)) slipped 2.4% or $1.15 to $44.99 after the insurance company reported fourth quarter revenue soared 22% to $15.8 billion from $12.9 billion in the same quarter last year. Net income in the quarter rose 3% to $830 million or 78 cents per diluted share compared to $805 million or 97 cents per share a year ago.

Magna International Inc. ((MGA)) decreased 1% or 55 cents to $50.84 after the automotive system maker reported first quarter revenue surged 34% to $7.2 billion from $5.3 billion in the same quarter last year. Net income in the quarter grew to $322 million or $1.30 per diluted share compared to $224 million or $0.99 per share a year ago.

PPL Corporation ((PPL)) decreased 1.3% or 38 cents to $27.18 after the energy and utility holding company reported first quarter revenues fell to $2.9 billion from $3.0 billion last year. Net earnings in the quarter soared 60% to $401 million or 82 cents per diluted share compared with $250 million or 66 cents per share in the prior year.

Petrohawk Energy Corporation ((HK)) rose 0.2% or 9 cents to $24.13 after the oil and natural gas company reported first quarter revenues increased 12% to $491.7 million from $437.8 million last year. Net loss in the quarter was $1.2 million or break even per diluted share compared to net income of $156.1 million or 52 cents per share in the prior year.

Prudential Financial, Inc. ((PRU)) decreased 1.4% or 88 cents to $61.56 after the financial services company reported first quarter revenue soared to $9.2 billion from $7.2 billion in the same quarter last year. Net income in the quarter grew to $589 million or $1.20 per diluted share compared to $536 million or $1.15 per share a year ago.

Siemens AG ((SI)) slumped 1.8% or $2.58 to $138.02 after Germany based the electronics and electrical technology company reported second quarter revenue soared 7% to €17.7 billion from €16.5 billion in the same quarter last year. Net income in the quarter surged 89% to €2.8 billion or €3.20 per basic earnings per share compared to €1.5 billion or €1.70 per share a year ago.

Teradata Corporation ((TDC)) fell 0.8% or 46 cents to $53.53 after the enterprise data warehousing company reported first quarter revenues increased 18% to $506 million from $429 million last year. Net income in the quarter fell $65 million or 38 cents per diluted share compared to $67 million or 39 cents per share in the prior year.

The Timberland Company ((TBL)) surged 28.2% or $11.76 to $29.81 after the footwear, apparel and accessories product maker reported first quarter revenues increased 10.1% to $349 million from $317 million last year. Net income in the quarter fell $17.9 million or 35 cents per diluted share compared to $25.7 million or 47 cents per share a year ago.

Ventas, Inc. ((VTR)) slumped 1.6% or 97 cents to $55.10 after the real estate investment trust reported first quarter revenues increased to $270.4 million from $240.9 million last year. Net income in the quarter fell $49.0 million or 30 cents per diluted share compared to $52.6 million or 34 cents per share a year ago.