U.S. Movers: CNA Financial, Humana, Hologic, Loews, NYSE, Barnes & Noble

Mukesh Buch
30 Apr, 2012
New York City

CNA Financial first quarter net slumped 3% to $367 million. Energy Transfer agreed to acquire Sunoco for $5.3 billion. Barnes & Noble soared on Microsoft investment. Humana first quarter net declined 21% to $248 million. Hologic acquired Gen-Probe for about $3.7 billion.

[R]11:25 AM New York – CNA Financial first quarter net slumped 3% to $367 million. Energy Transfer agreed to acquire Sunoco for $5.3 billion. Barnes & Noble soared on Microsoft investment. Humana first quarter net declined 21% to $248 million. Hologic acquired Gen-Probe for about $3.7 billion.[/R]

Books-A-Million, Inc. ((BAMM)) surged 21.9% or 56 cents to $3.11 after the bookstores operator said Anderson family has made a non binding proposal to acquire all publicly held shares of the company. According to the proposal shareholders will receive $3.05 per share in cash. The proposal values the total equity approx of $48.8 million.

CNA Financial Corporation ((CNA)) gained 2.1% or 65 cents to $30.81 after the insurance company reported first quarter total revenues rose 2% to $3.74 billion from $3.67 billion in the same quarter last year. Net income in the quarter slumped 3.2% to $367 million or 92 cents per diluted share compared to $379 million or 92 cents per share in the year ago earlier.

Energy Transfer Partners, L.P. ((ETP)) increased 2.4% or $1.17 to $49.09 after the propane gas retailer agreed to acquire Sunoco, Inc. ((SUN)), a petroleum refiner in cash valued $50.13 per share or total of about $5.3 billion. The merger consideration consists of $25 in cash and 0.5245 of an ETP common share. However, Sunoco Logistics Partners will continue to trade as separate company.

Humana Inc. ((HUM)) dropped 7.3% or $6.31 to $81.51 after the health care company reported first quarter total revenues increased 11% to $10.22 billion from $9.19 billion in the same quarter last year. Net income in the quarter declined 21.3% to $248 million or $1.49 per diluted share compared to $315 million or $1.86 per share in the year ago period.

Humana lifted full year outlook for revenue between of $39 billion and $39.5 billion and diluted earnings per share would be in the range of $7.55 to $7.75 and second quarter diluted earnings per share would be $2.15 to $2.25.

Hologic, Inc. ((HOLX)) plunged 9.5% or $2.02 to $19.21 after the medical equipments maker reported second quarter revenue rose 7.4% to $471.2 million from $438.7 million in the same quarter last year. Net loss in the quarter swung to $40.3 million or 15 cents per diluted share compared to net income of $82.4 million or 31 cents per share in the year ago earlier.

The Company expects third quarter revenues of $475 million to $480 million and reaffirms full year revenue guidance of $1.9 billion to $1.925 billion.

Hologic added today that the company will acquired all outstanding shares of Gen-Probe for $82.75 per share in cash or total enterprise value for $3.7 billion. The transaction is expected to be completed in the second half of this year.

Loews Corporation ((L)) rose 24 cents to $41.25 after the insurance company reported first quarter total revenues grew 4% to $2.40 billion from $2.31 billion in the same quarter last year. Net income in the quarter increased 14% to $250 million or 93 cents per diluted share compared to $220 million or 82 cents per share in the year ago.

Microsoft Corporation ((MSFT)) added 1 cent to $31.99 after the software maker made strategic partnership with Barnes & Noble Inc. ((BKS)) will formed new subsidiary which bring together digital and College businesses of Barnes & Noble and Microsoft will invest $300 million to develop digital reading technology for catalogues, e-Books, magazines and newspapers.

NYSE Euronext ((NYX)) slumped 5.2% or $1.42 to $25.65 after the trading solution provider reported first quarter total revenues dropped 17% to $952 million from $1.15 billion in the same quarter last year. Net income in the quarter plunged 32% to $121 million or 47 cents per diluted share compared to $177 million or 68 cents per share in the year ago period.

Watson Pharmaceuticals, Inc. ((WPI)) decreased 1.7% or $1.34 to $74.82 after the pharmaceutical company reported first quarter total revenues soared 74% to $1.52 billion from $876.5 million in the same quarter last year. Net income in the quarter surged 21% to $54.8 million or 43 cents per diluted share compared to $45.3 million or 36 cents per share in the year ago period.