U.S. Movers: Alcatel Lucent, Chesapeake, iGATE, LinkedIn, Starbucks

Mukesh Buch
04 Nov, 2011
New York City

Abercrombie third quarter net sales soared 21% to $1.1 billion. Chesapeake third quarter net increased to $879 million. LinkedIn reported third quarter net loss of $1.6 million and raise $100 million. Starbucks fourth quarter net increased 28.5% to $358.5 million.

[R]11:40 AM New York – Abercrombie third quarter net sales soared 21% to $1.1 billion. Chesapeake third quarter net increased to $879 million. LinkedIn reported third quarter net loss of $1.6 million and raise $100 million. Starbucks fourth quarter net increased 28.5% to $358.5 million.[/R]

Alcatel Lucent ((ALU)) dropped 16.6% or 46 cents to $2.30 after the France based mobile, fixed, Interne services provider reported third quarter revenue fell 6.8% to €3.8 billion from €4.1 billion in the year-ago quarter. Net income in the quarter surged to €194 million or 10 cents per ADS diluted share compared to €25 million or 2 cents per share in the year ago.

Ameren Corporation ((AEE)) rose 0.6% or 21 cents to $32.16 after the electric utility holding company reported third quarter total revenues flat to $2.27 billion. Net income in the quarter swung to $285 million or $1.18 per diluted share compared to net loss of $167 million or $0.70 per share in the year ago period.

Abercrombie & Fitch Co. ((ANF)) decreased 2.5% or $1.52 to $57.74 after the specialty apparel retailer reported third quarter net sales soared 21% to $1.1 billion from $0.9 billion in the year-ago quarter. Total comparable store sales for the quarter increased 7% and direct-to-consumer sales increased 41% to $132.4 million.

Chesapeake Energy Corporation ((CHK)) slipped 5.3% or $1.57 to $27.44 after the oil and natural gas producer reported third quarter total revenues soared to $4.0 billion from $2.6 billion in the year-ago quarter. Net income in the quarter increased to $879 million or $1.23 per diluted share compared to $515 million or $0.75 per share in the year ago.

Chesapeake reported two transactions to monetize a portion of 1.5 million net acres of leasehold in the Utica Shale play primarily in eastern Ohio. The transactions would be of approximately $3.4 billion.

Chesapeake Granite Wash Trust commenced initial public offering of 23.375 million common units represents an approximate 50% beneficial interest to the Trust.

CBS Corporation ((CBS)) increased 1.5% or 38 cents to $24.91 after the media company reported third quarter revenue rose 2% to $3.37 billion from $3.30 billion in the year-ago quarter. Net earnings in the quarter rose to $338 million or 50 cents per diluted share compared to $317 million or 46 cents per share in the year ago earlier.

Genpact Limited ((G)) increased 2.8% or 47 cents to $16.78 after the Bermuda based business service provider reported third quarter revenue surged 33.6% to $429.6 million from $321.6 million in the year-ago quarter. Net income in the quarter increased 19.7% to $48.0 million or 21 cents per diluted share compared to $40.1 million or 18 cents per share in the year ago quarter.

iGATE Corporation ((IGTE)) fell 0.4% or 7 cents to $14.34 after the outsource services provider reported third quarter net revenue soared 255.2% to $265.7 million from $74.8 million in the year-ago quarter. Net income in the quarter was flat to $14.3 million or 10 cents per diluted share compared to $14.3 million or 25 cents per share in the year ago earlier.

KKR & Co. ((KKR)) decreased 2.8% or 38 cents to $13.14 after the investment company reported third quarter revenue grew to $164.9 million from $96.0 million in the year-ago quarter. Net loss in the quarter swung to $243.4 million or $1.09 per diluted share compared to net income of $8.9 million or $0.04 per share in the year ago period.

LinkedIn Corporation ((LNKD)) slumped 11.4% or $9.81 to $77.69 after the professional network site operator reported third quarter revenue surged 126% to $139.5 million from $61.8 million in the year-ago quarter. Net loss in the quarter was to $1.6 million or 2 cents per diluted share compared to net income of $4.0 million or 2 cents per share in the year ago quarter.

The company today filed a registration statement with the SEC for proposed public offering of shares of Class A common stock to raise $100 million shares.

NextEra Energy, Inc. ((NEE)) decreased 3.1% or $1.80 to $55.81 after the electric power company reported third quarter net revenue fell to $4.4 billion from $4.7 billion in the year-ago quarter. Net income in the quarter declined to $407 million or $0.97 per diluted share compared to $720 million or $1.74 per share in the year ago earlier.

Smith & Nephew plc ((SNN)) decreased 2.6% or $1.19 to $44.08 after the UK based medical equipments maker reported third quarter revenue grew 5% to $1.0 billion from $0.9 billion in the year-ago quarter. Net profit in the quarter fell to $133 million or $14.9 per diluted share compared to net income of $137 million or $15.4 per share in the year ago period.

Starbucks Corporation ((SBUX)) advanced 7.1% or $2.95 to $44.35 after the specialty coffee retailer reported fourth quarter total revenues increased 7% to $3.0 billion from $2.8 billion in the year-ago quarter. U.S. comparable store sales increase 10% and global comparable store sales increase 9%.

Net earnings in the quarter increased 28.5% to $358.5 million or 47 cents per diluted share compared to $278.9 million or 37 cents per share in the year ago.

Telus Corporation ((TU)) decreased 1% or 55 cents to $50.25 after the Canada based communication service provider reported third quarter revenue rose 6.5% to $2.6 billion from $2.4 billion in the year-ago quarter. Net income in the quarter soared 30% to $326 million or $1.00 per diluted share compared to $251 million or $0.78 per share in the year ago quarter.

The Washington Post Company ((WPO)) decreased 2.3% or $7.81 to $327.89 afterthe education and media company reported third quarter revenue fell 13% to $1.03 billion from $1.18 billion in the year-ago quarter. Net loss in the quarter swung to $6.2 million or $0.82 per diluted share compared to net income of $60.9 million or $6.84 per share in the year ago earlier.

The Estee Lauder Companies Inc ((EL)) decreased 1.7% or $2.08 to $116.84 after the skin and hair care products maker reported first quarter net sales increased 18% to $2.48 billion from $2.09 billion in the year-ago quarter. Net earnings in the quarter surged 46% to $278.6 million or $1.40 per diluted share compared to $191.1 million or $0.95 per share in the year ago quarter.

Ultra Petroleum Corp. ((UPL)) rose 0.5% or 18 cents to $33.45 after the oil and gas company reported third quarter total revenues grew to $293.1 million from $240.4 million in the year-ago quarter. Net income in the quarter decreased to $149.1 million or $0.97 per diluted share compared to $162.6 million or $1.05 per share in the year ago.

United States Cellular Corporation ((USM)) decreased 2.8% or $1.15 to $39.66 afterthe communications service provider reported third quarter total revenues rose to $1.11 billion from $1.06 billion in the year-ago quarter. Net income in the quarter increased to $62.1 million or 73 cents per diluted share compared to $38.3 million or 44 cents per share in the year ago period.

Ventas, Inc ((VTR)) decreased 1.9% or $1.08 to $53.89 after the real estate investment reported third quarter total revenues surged to $566.0 million from $264.7 million in the year-ago quarter. Net income in the quarter increased to $102.9 million or 35 cents per diluted share compared to $57.9 million or 37 cents per share in the year ago earlier.