U.S. Movers: Apache, BCE, GM, Kraft Foods, Petrohawk, Sotheby

Mukesh Buch
04 Aug, 2011
New York City

Apache second quarter net income rose to $1.24 billion. BCE second quarter net income fell 2.5%. General Motors reported its profit for the sixth quarter in a row. Kraft Foods second quarter net earnings rose 4.2% and decided to split the company into two. Sotheby

[R]11:50 AM New York – Apache second quarter net income rose to $1.24 billion. BCE second quarter net income fell 2.5%. General Motors reported its profit for the sixth quarter in a row. Kraft Foods second quarter net earnings rose 4.2% and decided to split the company into two. Sotheby’s second quarter net income rose to $127.2 million.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Kraft Foods Inc. led the gainers with a rise of 3.35% followed by increase in McDonald’s Corporation of 0.04%.

Alcoa Inc. led the decliners with a fall of 4.07%, followed by decline in Caterpillar Inc. of 3.93%, in Chevron Corporation of 3.56%, in Bank of America Corporation of 3.46%, in JPMorgan Chase & Co. of 3.33%.

Other Movers

Apache Corporation ((APA)) slumped 5.1% or $6.15 to $112.26 after the independent energy company reported second quarter revenue increased to $4.34 billion from $2.97 billion in the same quarter last year. Net income in the quarter increased to $1,240 million or $3.17 per diluted share compared to $860 million or $2.53 per share a year ago.

BCE Inc. ((BCE)) decreased 3.1% or $1.21 to $36.88 after the Canada based communications company reported second quarter total revenue increased 11.6% to $4.96 billion from $4.44 billion in the same quarter last year. Net income in the quarter fell 2.5% to $590 million or 76 cents per diluted share compared to $605 million or 80 cents per share a year earlier.

Cimarex Energy Co. ((XEC)) slipped 8.7% or $7.07 to $73.73 after the oil and gas exploration company reported second quarter revenue rose to $467.2 million from $378.5 million in the same quarter last year. Net earnings in the quarter increased to $166.7 million or $1.94 per diluted share compared to $124.6 million or $1.46 per share in the prior-year quarter.

Cameco Corporation ((CCJ)) decreased 3.8% or 98 cents to $24.54 after the uranium producer reported second quarter revenue decreased 22% to $426 million from $546 million in the same quarter last year. Net earnings in the quarter slumped 23% to $54 million or 14 cents per diluted share compared to $70 million or 18 cents per share in the prior-year quarter.

Dean Foods Company ((DF)) slumped 7.8% or 81 cents to $9.55 after the food and beverage company reported second quarter sales rose to $3.3 billion from $3.0 billion in the same quarter last year. Net loss in the quarter was to $50.5 million or 28 cents per diluted share compared to net income of $44.8 million or 25 cents per share a year ago.

Denbury Resources Inc. ((DNR)) decreased 5.9% or $1.08 to $17.04 after the oil and natural gas company reported second quarter total revenue increased 21% to $601.4 million from $497.2 million in the same quarter last year. Net income in the quarter soared 92% to $259.2 million or 64 cents per diluted share compared to $135.4 million or 34 cents per share a year earlier.

DirecTV ((DTV)) decreased 6.9% or $3.46 to $46.01 after the digital television entertainment provider reported second quarter revenue rose 13% to $6.60 billion from $5.85 billion in the same quarter last year. Net earnings in the quarter increased 29% to $701 million or 91 cents per diluted share compared to $543 million or 60 cents per share in the prior-year quarter.

El Paso Corporation ((EP)) decreased 6.5% or $1.27 to $18.23 after the energy company reported second quarter revenue increased to $1.23 billion from $1.01 billion in the same quarter last year. Net income in the quarter increased to $262 million or 34 cents per diluted share compared to $147 million or 21 cents per share a year ago.

General Motors Company ((GM)) fell 3.1% or 85 cents to $26.31 after the auto and truck manufacturer reported second quarter revenues increased to $39.4 billion from $33.2 billion in the same quarter last year. Net income in the quarter increased to $2.5 billion or $1.54 per diluted share compared to $1.3 billion or $0.85 per share a year earlier

Health Care REIT, Inc. ((HCN)) fell 0.3% or 16 cents to $48.26 after the real estate investment trust revenue increased to $381.1 million from $153.7 million in the same quarter last year. Net income in the quarter rose to $69.8 million or 39 cents per diluted share compared to $45.6 million or 37 cents per share a year ago.

Kraft Foods Inc. ((KFT)) increased 2.8% or 99 cents to $35.29 after the packaged food products maker reported second quarter revenue increased 13.3% to $13.9 billion from $12.2 billion in the same quarter last year. Net earnings in the quarter increased 4.2% to $976 million or 55 cents per diluted share compared to $937 million or 53 cents per share a year ago.

The company also intends to separate into two, a high-growth global snacks business with estimated revenue approx of $32 billion and high-margin North American grocery business with estimated revenue approx of $16 billion.

Global snacks will consist of current Kraft Foods Europe and developing markets units as well as the North American snacks and confectionery businesses, with estimated revenue of approximately $32 billion.

The North American grocery business would consist of the current U.S. beverages, cheese, frozen foods and grocery segments and the non-snack categories in Canada and food service, with estimated revenue of approximately $16 billion.

Petrohawk Energy Corporation ((HK)) fell 0.3% or 12 cents to $38.14 after the oil and natural gas company reported second quarter revenue increased 69% to $595 million from $351 million in the same quarter last year. Net income in the quarter surged to $104.1 million or 34 cents per diluted share compared to $13.5 million or 4 cents per share a year earlier.

Sotheby’s ((BID)) decreased 1.3% or 54 cents to $39.40 after the auctioneer reported second quarter total revenue increased to $369.8 million from $281.4 million in the same quarter last year. Net income in the quarter increased to $127.2 million or $1.81 per diluted share compared to $86.2 million or $1.26 per share a year ago.

Southwest Airlines Co. ((LUV)) slipped 7.5% or 73 cents to $8.92 after the airline company reported second quarter revenue rose 30.6% to $4.14 billion from $3.17 billion in the same quarter last year. Net income in the quarter increased 43.8% to $161 million or 21 cents per diluted share compared to $112 million or 15 cents per share in the prior-year quarter.

TRW Automotive Holdings Corp. ((TRW)) decreased 4.2% or $2.07 to $46.46 after the automotive systems supplier reported second quarter sales increased 16% to $4.23 billion from $3.66 billion in the same quarter last year. Net earnings in the quarter increased 24% to $293 million or $2.21 per diluted share compared to $227 million or $1.78 per share a year earlier.