Market Updates

U.S. Movers: Donaldson, LDK Solar

Mukesh Buch
29 Aug, 2011
New York City

    Donaldson fourth quarter net sales increased 21% to $625 million and earnings in the quarter soared 29% to $66 million. LDK Solar reported second quarter net loss of $87.7 million.

[R]11:15 AM New York – Donaldson fourth quarter net sales increased 21% to $625 million and earnings in the quarter soared 29% to $66 million. LDK Solar reported second quarter net loss of $87.7 million.[/R]

Of 30 the stocks in the Dow, all increased.

Of the stocks in the Dow Jones Industrial Average, The Travelers Companies, Inc. led the gainers with a rise of 3.5% followed by increase in Pfizer Inc. of 3.2%, in Bank of America Corporation of 3.1%, in The Boeing Company of 2%, in Alcoa Inc. of 2%.

Other Movers

Donaldson Company, Inc. ((DCI)) increased 9.5% or $5.11 to $58.72 after the filtration systems maker reported fourth quarter net sales increased 21% to $625 million from $515 million in the same quarter last year. Net earnings in the quarter soared 29% to $66 million or 84 cents per diluted share compared to $51 million or 65 cents per share a year ago.

LDK Solar Co., Ltd. ((LDK)) gained 1% or 6 cents to $5.90 after the China based solar wafer producer said second quarter net sales decreased 11.6% to $499.4 million from $565.3 million in the same quarter last year. Net loss in the quarter was $87.7 million or 62 cents per diluted share compared to net income of $45.0 million or 36 cents per share a year ago earlier.

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