U.S. Movers: Lennar, Netflix, Tyco International, United Technologies

Mukesh Buch
19 Sep, 2011
New York City

Lennar third quarter net income decreased to $20.7 million. Netflix expect to split its DVD-by-mail service. Tyco International plan to separate three independent publicly traded companies. United Technologies intended to acquire Goodrich.

[R]11:20 AM New York – Lennar third quarter net income decreased to $20.7 million. Netflix expect to split its DVD-by-mail service. Tyco International plan to separate three independent publicly traded companies. United Technologies intended to acquire Goodrich.[/R]

Lennar Corporation ((LEN)) gained 2.3% o 32 cents to $14.12 after the homebuilder and financial service provider reported third quarter revenues fell 1% to $820.2 million from $825 million in the same quarter last year. Net income in the quarter decreased to $20.7 million or 11 cents per diluted share compared to $30.0 million or 16 cents per share a year ago.

Netflix, Inc. ((NFLX)) increased 3.8% or $6.02 to $161.21 after the online television shows and movie provider plans to split its DVD-by-mail service from movie streaming. The streaming business will remain the brand name with ""Netflix"" and The DVD-only service will called as the “Qwikster”.

Tyco International Ltd. ((TYC)) increased 2.6% or $1.15 to $44.85 after the Switzerland based diversified company plan to separate into three independent, publicly traded companies consisting ADT North America residential security business, Flow Control will be as a standalone company will provides valves and controls for the energy market and Commercial Fire and Security Business will provide security, fire detection and fire suppression systems. The company expects to complete the transaction in 12 months

United Technologies Corporation ((UTX)) decreased 1.7% or $1.32 to $74.16 after on speculation aerospace and defense products provider, plan to acquired Goodrich Corporation ((GR)), the aerospace and components maker.

Shares of Goodrich Corporation soared 11.7% or $10.89 to $103.78.