U.S. Movers: American Water Works, El Paso, Lowe

Mukesh Buch
27 Feb, 2012
New York City

American Water Works fourth quarter net increased to $64.8 million. El Paso fourth quarter net surged to $185 million. HSBC Holdings annual net soared 27% to $16.2 billion. Lowe

[R]10:45 AM New York – American Water Works fourth quarter net increased to $64.8 million. El Paso fourth quarter net surged to $185 million. HSBC Holdings annual net soared 27% to $16.2 billion. Lowe’s fourth quarter net increased 13% to $322 million.[/R]

American Water Works Company, Inc. ((AWK)) fell 8 cents to $33.84 after the water utility company reported fourth quarter revenue rose 2.2% to $639.8 million from $625.8 million in the same quarter last year. Net income in the quarter increased to $64.8 million or 37 cents per diluted share compared to $40.1 million or 23 cents per diluted share in the year ago earlier.

For 2011 revenue grew 4.4% to $2.7 billion from $2.5 billion in last year. Comparable store sales for the year were flat. Net income for the year increased to $309.6 million or $1.75 a diluted share compared to $267.8 million or $1.53 a share in the prior year.

Dendreon Corporation ((DNDN)) dropped 16.7% or $2.49 to $12.37 after the biotechnology company reported fourth quarter total revenue surged to $202.1 million from $25.0 million in the same quarter last year. Net income in the quarter swung to $38.1 million or 26 cents per diluted share compared to net loss of $91.8 million or 64 cents per diluted share in the year ago period.

El Paso Corporation ((EP)) rose 10 cents to $27.26 after the energy company reported fourth quarter revenue grew to $1.23 billion from $0.98 billion in the same quarter last year. Net income in the quarter surged to $185 million or 24 cents per diluted share compared to $62 million or 9 cents per diluted share in the year ago quarter.

For 2011 revenue increased to $4.86 billion from $4.62 billion in last year. Net income for the year declined to $141 million or $0.18 per diluted share compared to $721 million or $1.00 per share in the prior year.

HSBC Holdings plc ((HBC)) decreased 4.5% or $2.06 to $43.54 after the UK based bank reported annual net interest income for 2011 increased 3% to $40.66 billion from $39.44 billion in last year. Net income for the year soared 27% to $16.2 billion or 91 cents per diluted share compared to $12.7 billion or 72 cents per share in the prior year.

Lowe’s Companies, Inc ((LOW)) gained 3% or 82 cents to $27.98 after the home improvement retailer reported fourth quarter sale increased 11% to $11.6 billion from $10.5 billion in the same quarter last year.

Comparable store sales for the fourth quarter increased 3.4%. Net income in the quarter increased 13% to $322 million or 26 cents per diluted share compared to $285 million or 21 cents per diluted share in the year ago.

For 2011 sales rose 2.9% to $50.2 billion from $48.8 billion in last year. Comparable store sales for the year were flat. Net income for the year decreased 9% to $1.84 billion or $1.43 per diluted share compared to $2.01 billion or $1.42 per share in the prior year.

PPL Corporation ((PPL)) fell 10 cents to $28.75 after the energy and utility holding company announced increased fourth-quarter and year-end 2011 earnings compared with the results previously reported on February 10, due to a favorable U.S. Supreme Court decision affecting the company''s hydroelectric generation operations in Montana.

For the 2011 fourth quarter, PPL''s revised reported earnings were $454 million or 78 cents per diluted share as compared with the already announced totals of $401 million or 69 cents per share.

PPL''s revised 2011 reported earnings were $1.495 billion or $2.70 per share as compared with the previously announced totals of $1.442 billion, or $2.61 per share.

Separately, PPL Corp. agreed to acquire AES Ironwood, L.L.C. and AES Prescott, L.L.C., which together own and operate the 705-megawatt AES Ironwood combined-cycle natural gas-fired power plant in Lebanon, Pennsylvania for approximately $304 million.

The AES Corporation ((AES)) fell 8 cents to $13.72 after the power company reported fourth quarter total revenue nearly flat to $4.27 billion from $4.23 billion in the same quarter last year. Net loss in the quarter narrowed to $209 million or 27 cents per diluted share compared to $436 million or 55 cents per diluted share in the year ago quarter.

For 2011 total revenue grew to $17.3 billion from $15.8 billion in last year. Net income for the year surged to $58 million or 7 cents per diluted share compared to $9 million or 1 cent per share in the prior year.

Valeant Pharmaceuticals International, Inc. ((VRX)) rose 21 cents to $48.14 after the pharmaceutical company reported fourth quarter sale soared 34% to $688.4 million from $514.6 million in the same quarter last year. Net income in the quarter swung to $55.8 million or 18 cents per diluted share compared net loss of $31.1 million or 10 cents per diluted share in the year ago.

Visteon Corporation ((VC)) fell 36 cents to $53.20 after the automotive components supplier reported fourth quarter sale fell to $1.86 billion from $1.89 billion in the same quarter last year. Net loss in the quarter swung to $26 million or $0.51 per diluted share compared net income of $1,134 million or $1.66 per diluted share in the year ago period.