U.S. Movers: General Dynamics, Gannett, Halliburton, Hertz, Charles Schwab

Mukesh Buch
18 Jul, 2011
New York City

General Dynamics acquired Network Connectivity. Gannett second quarter net income declined 22.5% and Halliburton second quarter net income soared to $739 million. Hertz agreed to acquire Donlen Corp. in $930 Million. WebMD revised expected revenue and net income.

[R]11:15 PM New York – General Dynamics acquired Network Connectivity. Gannett second quarter net income declined 22.5% and Halliburton second quarter net income soared to $739 million. Hertz agreed to acquire Donlen Corp. in $930 Million. WebMD revised expected revenue and net income.[/R]

All 30 stocks in the Dow index decreased.

Of the stocks in the Dow Jones Industrial Average, The Boeing Company led the gainers with a rise of 2.33% followed by increase in Bank of America Corporation of 2.10%, in Caterpillar Inc. of 1.80%, in The Travelers Companies, Inc. of 1.62%, in Alcoa Inc. of 1.61%.

Other Movers

Check Point Software Technologies Ltd. ((CHKP)) gained 2.4% o $1.36 to $57.94 after the Israel based software maker reported second quarter total revenues increased 15% to $300.6 million from $261.1 million in the same quarter last year. Net income in the quarter soared 24% to $128 million or 60 cents per diluted share compared to $102.9 million or 48 cents per share a year ago.

General Dynamics Corporation ((GD)) decreased 1.5% or $1.12 to $69.24 after the aerospace and defense product maker acquired Network Connectivity Solutions, Corp. The value of the cash transaction was not been disclosed.

Gannett Co., Inc. ((GCI)) slipped 1.7% or 22 cents to $13.27 after the media and marketing company reported second quarter total revenues fell 2.2% to $1.33 billion from $1.36 million in the same quarter last year. Net income in the quarter declined 22.5% to $151.5 million or 62 cents per diluted share compared to $195.5 million or 81 cents per share a year earlier.

Halliburton Company ((HAL)) rose 0.6% or 33 cents to $53.41 after the oilfield services company reported second quarter revenues rose to $5.9 billion from $4.4 billion in the same quarter last year.

Net income in the quarter soared to $739 million or 80 cents per diluted share compared to $480 million or 53 cents per share a year ago.

Hasbro, Inc. ((HAS)) decreased 1.2% or 54 cents to $40.82 after the entertainment products maker reported second quarter revenues increased to $908.5 million from $737.8 million in the same quarter last year. Net earnings in the quarter increased to $58.1 million or 42 cents per diluted share compared to $43.6 million or 29 cents per share a year ago.

Hertz Global Holdings, Inc. ((HTZ)) decreased 2.2% or 34 cents to $14.54 after the car rental agreed to acquire Donlen Corporation, provider of fleet leasing and management services for $930 Million. The transaction is expected to be completed in third quarter of 2011.

MGIC Investment Corporation ((MTG)) declined 19.1% or $1.15 to $4.85 after the mortgage insurance company said second quarter revenues decreased to $367 million from $406.4 million in the same quarter last year. Net loss in the quarter was $151.7 million or 75 cents per diluted share compared to $24.6 million or 13 cents per share a year earlier.

New Oriental Education & Technology Group Inc. ((EDU)) increased 5.1% or $6.28 to $129.30 after the China based educational service provider said fourth quarter net revenue surged 58.7% to $137.4 million from $86.6 million in the same quarter last year. Net income in the quarter soared 147.8% to $14.3 million or 37 cents per diluted share compared to $5.8 million or 15 cents per share a year earlier.

PacWest Bancorp ((PACW)) rose 0.4% or 9 cents to $19.61 after the bank holding company said second quarter net interest income rose to $77.2 million from $68.3 million in the same quarter last year. Net earnings in the quarter swing to $12.8 million or 35 cents per diluted share compared to $2.7 million or 7 cents per share a year ago.

PetMed Express, Inc. ((PETS)) slumped 5.9% or 69 cents to $10.89 after the health product for pets’ said second quarter net sales fell 1.1% to $73.6 million from $74.4 million in the same quarter last year. Net income in the quarter decreased to $4.8 million or 22 cents per diluted share compared to $7.2 million or 32 cents per share a year earlier.

The Charles Schwab Corporation ((SCHW)) decreased 2.1% or 32 cents to $14.69 after the broker reported second quarter net revenue increased 10% to $1.19 billion from $1.08 billion in the same quarter last year. Net income in the quarter increased 16% to $238 million or 20 cents per diluted share compared to $205 million or 17 cents per share a year ago.

WebMD Health Corp. ((WBMD)) declined 30.5% or $14.18 to $33.30 after the health information service provider’s revenue for the June quarter is expected to increase 15% to $141 million. Net income is expected to be approximately $21.4 million or $0.35 per diluted.