U.S. Movers: AIG, HollyFrontier, P&G, AES, Washington Post, Viacom

Mukesh Buch
05 Aug, 2011
New York City

AIG reported second quarter net income of $1.84 billion. HollyFrontier second quarter net income soared 191% to $192 million. Imperial Sugar third quarter net loss widened. Procter & Gamble fourth quarter net income increased 15% to $2.51 billion. Viacom third quarter net earnings rose to $574 mn.

[R]11:40 AM New York – AIG reported second quarter net income of $1.84 billion. HollyFrontier second quarter net income soared 191% to $192 million. Imperial Sugar third quarter net loss widened. Procter & Gamble fourth quarter net income increased 15% to $2.51 billion. Viacom third quarter net earnings rose to $574 million.[/R]

Of 30 the stocks in the Dow, 8 increased and 21 decreased and 1 unchanged.

Of the stocks in the Dow Jones Industrial Average, Kraft Foods Inc. led the gainers with a rise of 2.04% followed by increase in American Express Company of 0.27%, in General Electric Company of 0.18%, in Pfizer Inc. of 0.17%, in JPMorgan Chase & Co. of 0.16%.

Bank of America Corporation led the decliners with a fall of 2.38%, followed by decline in The Home Depot, Inc. of 1.70%, in Caterpillar Inc. of 1.40%, in Intel Corporation of 1.31%, in Microsoft Corporation of 1.15%.

Other Movers

American International Group, Inc. ((AIG)) decreased 5.8% or $1.56 to $24.84 after the insurance company reported second quarter net premiums written increased 17.6% to $9.2 billion from $7.8 billion in the same quarter last year. Net income in the quarter was $1.84 billion or $1.00 per diluted share compared to net loss of $2.66 billion or $19.57 per share a year ago.

Ameren Corporation ((AEE)) increased 1.4% or 39 cents to $27.38 after the power utility company reported second quarter revenue rose to $1.78 billion from $1.72 billion in the same quarter last year. Net income in the quarter fell to $139 million or 57 cents per diluted share compared to $155 million or 64 cents per share in the prior-year quarter.

Buckeye Partners, L.P. ((BPL)) decreased 2.5% or $1.54 to $60.12 after the oil well services and equipment company reported second quarter total revenue soared to $1.08 billion from $0.67 billion in the same quarter last year. Net income in the quarter surged to $92 million or $1.00 per diluted share compared to $11.5 million or $0.58 per share a year ago.

Cubic Corporation ((CUB)) slumped 7.5% or $3.26 to $40.02 after the defense technology products maker reported third quarter revenue fell to $331.3 million from $319.9 million in the same quarter last year. Net income in the quarter fell to $20.8 million or 78 cents per diluted share compared to $22.7 million or 85 cents per share in the prior-year quarter.

CF Industries Holdings, Inc. ((CF)) increased 1.3% or $1.94 to $143.53 after the fertilizer products maker reported second quarter net sales increased 38% to $1.8 billion from $1.31 billion in the same quarter last year. Net earnings in the quarter soared to $487.4 million or $6.75 per diluted share compared to $105.1 million or $1.54 per share a year earlier.

Dril-Quip, Inc. ((DRQ)) slumped 13.8% or $8.67 to $53.71 after the offshore drilling and production equipment maker reported second quarter revenue decreased to $137 million from $142 million in the same quarter last year. Net income in the quarter fell to $22.2 million or 55 cents per diluted share compared to $28.0 million or 70 cents per share in the prior-year quarter.

EDGAR Online, Inc. ((EDGR)) decreased 3.1% or 3 cents to $0.93 after the financial data and public filings distributor said total revenue rose to $6.5 million from $5 million in the same quarter last year. Net loss in the quarter narrowed to $1.7 million or 6 cents per diluted share compared to $4 million or 13 cents per share a year ago.

EOG Resources, Inc. ((EOG)) increased 3.9% or $3.66 to $95.79 after the natural gas and crude oil producer reported second quarter net revenues increased to $2.57 billion from $1.36 billion in the same quarter last year. Net income in the quarter surged to $295.6 million or $1.10 per diluted share compared to $59.9 million or $0.24 per share a year ago.

HollyFrontier Corporation ((HFC)) decreased 2.3% or $1.55 to $65.58 after the independent petroleum refiner reported second quarter sales and other revenue increased 38.3% to $2.97 billion from $2.14 billion in the same quarter last year. Net income in the quarter soared 190.6% to $192.2 million or $3.58 per diluted share compared to $66.2 million or $1.24 per share in the prior-year quarter.

Imperial Sugar Company ((IPSU)) tumbled 57.4% or $13.32 to $9.87 after the refined sugar maker said third quarter net sales fell to $197 million from $261 million in the same quarter last year. Net loss in the quarter widened to $16.1 million or $1.35 per diluted share compared to $5.7 million or $0.48 per share a year ago.

Magna International Inc. ((MGA)) slipped 13.7% or $6.06 to $38.18 after the automotive supplier reported second quarter revenues increased 24% to $7.3 billion from $5.6 billion in the same quarter last year. Net income in the quarter fell to $282 million or $1.15 per diluted share compared to $294 million or $1.30 per share a year ago.

The Procter & Gamble Company ((PG)) rose 0.1% or 10 cents to $59.70 the packaged goods provider reported fourth quarter net sales increased 10% to $20.9 billion from $18.9 billion in the same quarter last year. Net income in the quarter increased 15% to $2.51 billion or 84 cents per diluted share compared to $2.18 billion or 71 cents per share a year ago.

The AES Corporation ((AES)) fell 0.8% or 9 cents to $10.66 after the power company reported second quarter revenue increased 16% to $4.54 billion from $3.92 billion in the same quarter last year. Net income in the quarter rose to $427 million or 22 cents per diluted share compared to $429 million or 18 cents per share a year earlier.

The Washington Post Company ((WPO)) increased 2.1% or $7.73 to $375.95 after the education and media company reported second quarter revenue decreased 10% to $1.07 billion from $1.20 billion in the same quarter last year. Net income in the quarter decreased 50% to $45.6 million or $5.74 per diluted share compared to $91.9 million or $10.00 per share a year ago.

Viacom Inc. ((VIA)) decreased 1.1% or 59 cents to $50.76 after the entertainment content company reported third quarter net sales increased 15% to $3.77 billion from $3.27 billion in the same quarter last year. Net earnings in the quarter increased to $574 million or 97 cents per diluted share compared to $420 million or 69 cents per share a year earlier.