U.S. Movers: AOL, DISH Network, EchoStar, Ralcorp, Sempra Energy

Mukesh Buch
09 Aug, 2011
New York City

AOL reported second quarter net loss shrank 99% to $11.8 million. DISH Network second quarter net income increased 30% to $335 million. EchoStar second quarter net income swung to $18 million. Sempra Energy second quarter net income rose to $511 million.

[R]11:50 AM New York – AOL reported second quarter net loss of 99% to $11.8 million. DISH Network second quarter net income increased 30% to $335 million. EchoStar second quarter net income swung to $18 million. Sempra Energy second quarter net income rose to $511 million.[/R]

Of 30 the stocks in the Dow, 27 increased and 2 decreased and 1 unchanged.

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 7.60% followed by increase in Alcoa Inc. of 5.47%, in Caterpillar Inc. of 4.72%, in JPMorgan Chase & Co. of 4.23%, in Pfizer Inc. of 3.90%.

United Technologies Corporation led the decliners with a fall of 0.19%, followed by decline in Verizon Communications Inc. of 0.15%.

Other Movers

AOL Inc. ((AOL)) slumped 16% or $2.42 to $12.65 after the web services provider said second quarter total revenues fell 6% to $542.2 million from $592.2 million in the same quarter last year. Net loss in the quarter shrank 99% to $11.8 million or $0.11 per diluted share compared to $1,055.0 million or $9.89 per share a year ago.

Booz Allen Hamilton Holding Corporation ((BAH)) increased 7.7% or $1.17 to $16.20 after the holding company first second quarter revenue increased 7.8% to $1.45 billion from $1.34 billion in the same quarter last year. Net income in the quarter increased to $51.1 million or 37 cents per diluted share compared to $28.2 million or 23 cents per share a year ago.

Cablevision Systems Corporation ((CVC)) decreased 9.9% or $1.95 to $17.57 after the cable operator reported second quarter net revenues increased 9.1% to $1.69 billion from $1.5 billion in the same quarter last year. Net income in the quarter increased to $87.8 million or 31 cents per diluted share compared to $60.8 million or 20 cents per share a year ago.

Carrizo Oil & Gas, Inc. ((CRZO)) gained 3.4% or 94 cents to $27.97 after the independent energy company said second quarter total revenues increased to $50.7 million from $32.9 million in the same quarter last year. Net income in the quarter increased to $7.74 million or 20 cents per diluted share compared to $1.78 million or 5 cents per share a year ago period.

DISH Network Corporation ((DISH)) slipped 3.3% or 75 cents to $21.89 after the pay television services provider reported second quarter revenue increased 13.3% to $3.59 billion from $3.17 billion in the same quarter last year. Net income in the quarter increased 30.3% to $335 million or 75 cents per diluted share compared to $257 million or 57 cents per share a year earlier.

Duncan Energy Partners L.P. ((DEP)) advanced 6.6% or $2.48 to $40.03 after the natural gas company reported second quarter revenue increased to $302.8 million from $265.2 million in the same quarter last year. Net income in the quarter fell to $22.5 million or 39 cents per diluted share compared to $23.3 million or 40 cents per share in the prior-year quarter.

Enterprise Products Partners L.P. ((EPD)) increased 6.6% or $2.48 to $39.98 after the energy company reported second quarter revenue increased to $11.2 billion from $7.5 billion in the same quarter last year. Net income in the quarter increased to $433.7 million or 51 cents per diluted share compared to $54.1 million or 26 cents per share a year earlier.

EchoStar Corporation ((SATS)) increased 4.3% or $1.09 to $26.35 after the digital set-top box maker reported second quarter total revenues fell 3.1% to $584 million from $603 million in the same quarter last year. Net income in the quarter swung to $18 million or 21 cents per diluted share compared to net loss of $41 million or 49 cents per share a year ago period.

Endo Pharmaceuticals Holdings Inc. ((ENDP)) increased 3.8% or $1.22 to $32.80 after the healthcare company reported second quarter total revenues soared 53% to $607.6 million from $396.5 million in the same quarter last year. Net income in the quarter rose 6% to $54.6 million or 44 cents per diluted share compared to $51.5 million or 44 cents per share a year ago.

Fossil, Inc. ((FOSL)) slumped 18.8% or $17.67 to $76.21 after the fashion accessories designer reported second quarter net sales soared 35% to $556.7 million from $412.6 million in the same quarter last year. Net income in the quarter fell 5.7% to $51.4 million or 80 cents per diluted share compared to $54.5 million or 80 cents per share in the prior-year quarter.

International Flavors & Fragrances Inc. ((IFF)) increased 5.5% or $2.94 to $55.76 after the fragrance products maker reported second quarter revenue increased 7% to $716 million from $666 million in the same quarter last year. Net income in the quarter increased 13% to $76.2 million or 93 cents per diluted share compared to $67.1 million or 83 cents per share a year ago.

Nuance Communications, Inc ((NUAN)) gained 4.4% or 69 cents to $16.28 after the voice and language solution provider reported third quarter revenue increased 16.8% to $319 million from $273 million in the same quarter last year. Net income in the quarter was $1.7 million or 1 cent per diluted share compared to net loss $15.4 million or 5 cents per share a year earlier.

Northern Oil & Gas, Inc. ((NOG)) increased 33.9% or $4.50 to $17.75 after the energy company reported second quarter total revenues rose to $50.8 million from $16.2 million in the same quarter last year. Net income in the quarter increased to $20 million or 33 cents per diluted share compared to $6.12 million or 12 cents per share a year ago.

Ralcorp Holdings, Inc. ((RAH)) decreased 2.1% or $1.82 to $72.47 after the food products maker reported third quarter net sales increased 22% to $1,171.9 million from $962.4 million in the same quarter last year. Net income in the quarter declined to $28.3 million or 50 cents per diluted share compared to $53.0 million or 95 cents per share a year ago.

Ralcorp today announced it has agreed to acquire North American private brand refrigerated dough business of Sara Lee Corp. ((SLE)) for $545 million. Ralcorp intends to fund the transaction through short term debt and expects acquisition to be completed in 60 days to 90 days.

Sempra Energy ((SRE)) fell 0.1% or 7 cents to $45.52 after the holding company reported second quarter revenue increased to $2.42 billion from $2.01 billion in the same quarter last year. Net earnings in the quarter increased to $511 million or $2.12 per diluted share compared to $222 million or $0.89 per share a year earlier.

Snyder’s-Lance, Inc ((LNCE)) fell 0.2% or 4 cents to $19.67 after the snack and food products maker said second quarter net revenue soared 75% to $413 million from $235 million in the same quarter last year. Net loss in the quarter was $3.8 million or 6 cents per diluted share compared to net income of $12.4 million or 38 cents per share in the prior-year quarter.

The company also announced to acquire all the shares of George Greer Company, Inc., a snack food distributor serving Rhode Island.

TransDigm Group Inc ((TDG)) increased 9.7% or $7.26 to $81.09 after the aircraft components maker reported third quarter net sales surged 51.8% to $325.2 million from $214.2 million in the same quarter last year. Net income in the quarter increased 27.9% to $56.3 million or $1.06 per diluted share compared to $44.0 million or 83 cents per share a year earlier.