U.S. Movers: Chesapeake, Diebold, Regeneron Pharmaceuticals, Grainger

Mukesh Buch
13 Feb, 2012
New York City

Chesapeake Energy will raise $10 billion to $12 billion from asset sale. Diebold fourth quarter net income swung to $79.8 million and Regeneron Pharmaceuticals fourth quarter net loss widened to $53.4 million. W.W. Grainger said January sales increased 17%.

[R]11:40 AM New York – Chesapeake Energy will raise $10 billion to $12 billion from asset sale. Diebold fourth quarter net income swung to $79.8 million and Regeneron Pharmaceuticals fourth quarter net loss widened to $53.4 million. W.W. Grainger said January sales increased 17%.[/R]

Chesapeake Energy Corp ((CHK)) rose 18 cents to $22.31 after the oil and gas explorer said it plans to raise $10 billion to $12 billion from asset monetization this year to fully fund its 2012 capital expenditures to cover cash needs, drilling expenses and debt reduction.

Chesapeake plans to sell $2 billion pipeline services and may rise about $6 billion to $8 billion from joint venture for its Mississippi Lime acreage and sales of some other asset.

Diebold, Inc ((DBD)) increased 9% or $3.13 to $37.88 after the security system provider reported fourth quarter total revenue grew 7.5% to $850 million from $791 million in the same quarter last year.

Net income in the quarter swung to $79.8 million or $1.26 per diluted share compared to net loss of $120.0 million or $1.83 per diluted share in the year ago earlier.

For 2011, total revenue was flat to $2.83 billion from $2.82 billion in last year. Net income for the year swung to $144.8 million or $2.24 per diluted share compared to net loss of $20.3 million or $0.31 per share in the prior year.

Drew Industries Inc ((DW)) gained 4.5% or $1.21 to $27.75 after the recreational vehicles maker reported fourth quarter net sales soared 50% to $159.6 million from $106.2 million in the same quarter last year. Net income in the quarter increased to $4.1 million or 18 cents per diluted share compared to $3.1 million or 14 cents per diluted share in the year ago period.

Regeneron Pharmaceuticals, Inc. ((REGN)) soared 13.2% or $13.55 to $115.63 after the biopharmaceutical company reported fourth quarter revenue fell to $123 million from $133.7 million in the same quarter last year. Net loss in the quarter widened to $53.4 million or 58 cents per diluted share compared to $14.6 million or 17 cents per diluted share in the year ago earlier.

For 2011 revenue decreased to $445.8 million from $459.1 million in last year. Net loss for the year widened to $221.8 million or $2.45 per diluted share compared to $104.5 million or $1.26 per share in the prior year.

Stoneridge, Inc. ((SRI)) fell 3 cents to $10.27 after the auto and truck parts maker reported fourth quarter net sales increased 16% to $186.0 million from $160.5 million in the same quarter last year. Net income in the quarter increased to $38.6 million or $1.56 per diluted share compared to $4.5 million or $0.19 per diluted share in the year ago earlier.

W.W. Grainger, Inc. ((GWW)) increased 3.2% or $6.45 to $206.61 after the industrial maintenance said January sales increased 17% and excluding acquisitions organic sales increased 12% from a year ago.