U.S. Movers: Acorda, Allstate, Humana, Loews, Sohu.com

Mukesh Buch
01 Aug, 2011
New York City

Acorda reported second quarter net loss narrowed. CNA Financial second quarter net income fell to $126 million. Allstate reported second quarter net loss of $620 million. Humana second quarter net income increased 35.3% to $460.3 million. Loews second quarter net income decreased to $252 million.

[R]11:40 AM New York – Acorda reported second quarter net loss narrowed. CNA Financial second quarter net income fell to $126 million. Allstate reported second quarter net loss of $620 million. Humana second quarter net income increased 35.3% to $460.3 million. Loews second quarter net income decreased to $252 million.[/R]

Of 30 the stocks in the Dow, 8 increased and 22 decreased.

Of the stocks in the Dow Jones Industrial Average, Caterpillar Inc. led the gainers with a rise of 2.4% followed by increase in Bank of America Corporation of 1.18%, in E. I. du Pont de Nemours and Company of 1.09%, in Chevron Corporation of 1.03%, in Alcoa Inc. of 0.85%.

Merck & Co., Inc. led the decliners with a fall of 2.49%, followed by decline in The Home Depot, Inc. of 1.83%, in Johnson & Johnson of 1.48%, in Pfizer Inc. of 1.24%, in Microsoft Corporation of 1.16%.

Other Movers

Acorda Therapeutics, Inc. ((ACOR)) slumped 4.5% or $1.29 to $27.11 after the biopharmaceutical company said second quarter revenue rose to $65.3 million from $42.8 million in the same quarter last year. Net loss in the quarter decreased to $0.3 million or 1 cent per diluted share compared to $6.8 million or 18 cents per share a year earlier.

CNA Financial Corporation ((CNA)) decreased 3.2% or 89 cents to $26.65 after the insurance holding company reported second quarter net written premiums rose to $1.56 billion from $1.48 billion in the same quarter last year. Net income in the quarter decreased to $126 million or 47 cent per diluted share compared to $283 million or 96 cents per share a year ago.

Changyou.com Limited ((CYOU)) slipped 13.1% or $6.83 to $45.00 after the China based online game developer said second quarter total revenue increased 35% to $105 million from $77.7 million in the same quarter last year. Net income in the quarter increased 29% to $54.2 million or $1.02 per diluted ADS share compared to $42.1 million or $0.79per share a year earlier.

The Allstate Corporation ((ALL)) increased 1.6% or 45 cents to $28.17 after the property and casualty insurer reported second quarter revenues increased 5.6% to $8.1 billion from $7.6 billion in the same quarter last year. Net loss in the quarter was $620 million or $1.19 per diluted share compared to net income of $145 million or $0.27 per share a year ago.

Humana Inc. ((HUM)) decreased 3.6% or $2.74 to $71.84 after the health and supplemental benefits company reported second quarter revenue rose 8% to $9.28 billion from $8.59 billion in the same quarter last year. Net income in the quarter increased 35.3% to $460.3 million or $2.17 per diluted share compared to $340.1 million or $2.00 per share in the prior-year quarter.

Haemonetics Corporation ((HAE)) slumped 7.3% or $4.83 to $60.67 after the medical device maker said first quarter revenue increased 5% to $170.6 million from $163 million in the same quarter last year. Net income in the quarter decreased 5% to $16.9 million or 65 cents per diluted share compared to $17.9 million or 70 cents per share a year earlier.

Loews Corporation ((L)) fell 0.8% or 36 cents to $39.51 after the commercial property and casualty insurance company reported second quarter revenue rose to $3.54 billion from $3.49 billion in the same quarter last year. Net income in the quarter decreased to $252 million or 62 cents per diluted share compared to $366 million or 87 cents per sharein the prior-year quarter.

Sohu.com Inc. ((SOHU)) decreased 8.3% or $7.56 to $82.57 after the Chinese online media company reported second quarter total revenue increased 36% to $198.7 million from $146.1 million in the same quarter last year. Net income in the quarter increased 37% to $44.3 million or $1.10 per diluted share compared to $33.4 million or $0.82 per share a year earlier.