U.S. Movers: Dollar Thrifty, Quicksilver, Tyson Foods, United States Cellular

Mukesh Buch
08 Aug, 2011
New York City

BroadSoft reported second quarter net income of $15.8 million. Quicksilver second quarter net income rose to $109 million. Tyson Foods third quarter net income fell to $196 million. Transatlantic Holdings confirmed a bid from Berkshire Hathaway Inc. to acquire all outstanding shares for $52 each.

[R]11:40 AM New York – BroadSoft reported second quarter net income of $15.8 million. Quicksilver second quarter net income increased to $109 million. Tyson Foods third quarter net income decreased to $196 million. Transatlantic Holdings confirmed a bid from Berkshire Hathaway Inc. to acquire all outstanding shares for $52 each.[/R]

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

Of the stocks in the Dow Jones Industrial Average, The Procter & Gamble Company led the gainers with a rise of 0.46% followed by increase in The Coca-Cola Company of 0.10%, in 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 7.96%, followed by decline in Alcoa Inc. of 4.93%, in Caterpillar Inc. of 3.80%, in General Electric Company of 3.24%, in Cisco Systems, Inc. of 3.15%.

Other Movers

BroadSoft, Inc. ((BSFT)) plunged 19.8% or $4.70 to $28.40 after the voice and multimedia software provider reported second quarter revenue soared 63% to $32.2 million from $19.8 million in the same quarter last year. Net income in the quarter was $15.8 million or 57 cents per diluted share compared to net loss of $1.8 million or 20 cents per share a year ago.

DG FastChannel, Inc. ((DGIT)) slumped 25.9% or $6.20 to $17.69 after the digital technology service provider said second quarter revenue increased 17% to $67.9 million from $58.2 million in the same quarter last year. Net income in the quarter rose to $10.2 million or 37 cents per diluted share compared to $9.0 million or 32 cents per share in the prior-year quarter.

Dollar Thrifty Automotive Group, Inc. ((DTG)) decreased 7.4% or $5.03 to $62.35 after the rental of vehicle provider reported second quarter total revenues decreased to $395.1 million from $396.2 million in the same quarter last year. Net income in the quarter increased to $42.5 million or $1.36 per diluted share compared to $42.3 million or $1.40 per share a year ago period.

Quicksilver Resources Inc. ((KWK)) slipped 16.3% or $1.92 to $9.83 after the independent energy company said second quarter revenue increased to $248.4 million from $228.6 million in the same quarter last year. Net income in the quarter increased to $109 million or 61 cents per diluted share compared to $87 million or 49 cents per share a year ago.

Silver Wheaton Corp. ((SLW)) decreased 2.5% or 86 cents to $33.29 after the mining company reported second quarter sales increased 105% to $194.8 million from $95.0 million in the same quarter last year. Net earnings in the quarter increased to $148.1 million or 42 cents per diluted share compared to $15.3 million or 4 cents per share a year ago period.

Telephone and Data Systems, Inc. ((TDS)) decreased 7.7% or $1.97 to $23.50 after the telecommunications service reported second quarter revenue increased 4% to $1.28 billion from $1.23 billion in the same quarter last year. Net income in the quarter increased to $91.1 million or 87 cents per diluted share compared to $40.3 million or 38 cents per share a year ago.

Tyson Foods, Inc. ((TSN)) rose 0.8% or 13 cents to $16.44 after the food processing company reported third quarter sales increased 10.9% to $8.2 billion from $7.4 billion in the same quarter last year. Net income in the quarter decreased $196 million or 51 cents per diluted share compared to $248 million or 65 cents per share a year earlier.

The Scotts Miracle-Gro Company ((SMG)) slipped 8.7% or $4.03 to $41.82 after the lawn and garden care products maker reported third quarter net sales decreased 10% to $1.06 billion from $1.17 billion in the same quarter last year. Net income in the quarter slumped 37% to $111.6 million or $1.69 per diluted share compared to $175.9 million or $2.59 per share a year ago.

Transatlantic Holdings, Inc. ((TRH)) increased 5.7% or $2.60 to $47.84 after insurance company confirmed that Transatlantic has received a proposal from National Indemnity Company member of Berkshire Hathaway Inc. to acquire all outstanding shares of its common stock for $52 per share.

United States Cellular Corporation ((USM)) decreased 5.5% or $2.20 to $37.50 after the wireless communications service provider reported second quarter total revenues rose 4% to $1.08 billion from $1.03 billion in the same quarter last year. Net income in the quarter soared 74% to $79.9 million or 87 cents per diluted share compared to $45.9 million or 47 cents per share a year ago.