Colgate, First Solar, CVS Rise, Hartford Plunges

123jump.com Staff
30 Oct, 2008
New York City

Colgate Palmolive surged 8% after third quarter revenue rose 13%. CVS Caremark Corp gained 8% after third quarter net income surged 7%. Deutsche Bank surged 21% on quarterly revenue fell 14% and net income dropped 74%. First Solar surged 19% after third quarter net income increased 40%.

[R]11:30AM New York – Hartford Financial Services Group plunged 33% after it reported its first quarterly loss in five years. Elan plunges after a patient taking its brain cancer treatment drug developed life threatening illness.[/R]

Agnico-Eagle Mines Limited ((AEM)) fell 3.9% or $1.06 to $26.00 after the Canadian gold producer said third quarter revenues fell 13% to $91.2 million from $104.8 million a year ago. Net income in the quarter rose 21.7% to$14 million or 10 cents per diluted share compared to net income of $11.5 million or 8 cents per share, a year ago.

Amkor Technology, Inc ((AMKR)) dropped 3.0% or 0.09 cents to $3.15 after the subcontractor of semiconductor packaging and test services said third quarter sales rose 4% to $720 million from $689 million a year ago. Net income in the quarter fell 44% to $34 million or 18 cents per diluted share compared to net income of $60.6 million or 30 cents per share, a year ago.

Atmel Corporation ((ATML)) slid 11.0% or 44 cents to $3.53 after the manufacturer of microcontrollers said third quarter sales fell 0.43% to $400 million from $418.1 million a year ago. Net loss in the quarter was $4.7 million or 1 cent per diluted share compared to net income of $16.6 million or 3 cents per share, a year ago.

Allied Waste Industries, Inc ((AW)) rose 8.1% or 71 cents to $9.42 after it reported third quarter revenues rose 3% to $1.61 billion from $1.56 billion a year ago. Net income in the quarter rose 532% to $112.5 million or 26 cents per diluted share compared to net income of $17.8 million or 5 cents per share, a year ago.

Allied Waste and Republic Services also settled a class action lawsuits relating to the pending merger between Republic and Allied.

Assurant, Inc ((AIZ)) dropped 21.4% or $7.20 to $26.71 after the third-quarter loss on investment and catastrophe losses as the specialty insurer also was hurt by rising claims. The latest results include $194.5 million in net realized investment losses, including write-downs, compared with $8.5 million in losses in the prior year. Earnings excluding the losses fell to 70 cents a share from $1.63 a share.

AstraZeneca PLC ((AZN)) climbed 5.3% or $2.14 to $41.85 after the pharmaceutical company posted a 29% rise in third quarter net profit to $1.73 billion as strong sales in emerging markets helped offset flat demand for its products in the United States.

Blackboard Inc ((BBBB)) decreased 12.2% or $3.50 to $25.10 after the online learning-software company said third quarter revenues rose 35% to $83.1 million from $61.5 million a year ago. Net income in the quarter fell 36% to $2.1 million or 6 cents per diluted share compared to net income of $3.3 million or 11 cents per share, a year ago.

Colgate-Palmolive Company ((CL)) climbed 7.8% or $4.79 to $64.87 after the consumer products company reported third quarter revenues rose 13% to $3.99 billion from $3.53 billion a year ago. Net income in the quarter rose 19% to $499.9 million or 94 cents per diluted share compared to net income of $420.1 million or 77 cents per share, a year ago.

CVS Caremark Corporation ((CVS)) rose 8.4% or $2.21 to $28.52 after the provider of prescriptions and related healthcare services in the United States reported third quarter revenues rose 1.8% to $20.9 billion from $20.5 billion a year ago. Net income in the quarter rose 6.8% to $732.5 million or 50 cents per diluted share compared to net income of $686.1 million or 45 cents per share, a year ago.

Deutsche Bank AG ((DB)) increased 21.5% or $6.76 or $38.34 after the global investment bank reported third quarter revenues fell 14% to €4.4 billion from €5.1 billion a year ago. Net income in the quarter fell 74% to €414 million or 83 euros per diluted share compared to net income of €1.6 billion or €3.31 per share, a year ago.

Elan Corporation, plc ((ELN)) lost 16.2% or $1.24 to $6.42 after the U.S. partner Biogen Idec said that a patient taking Tysabris was diagnosed with fatal brain illness known as progressive multifocal leukoencephalopathy or PML. Elan and Biogen developed Tysabris in partnership.

First Solar, Inc ((FSLR)) rose 19.2% or $22.57 to $138.83 after it reported net income for third quarter 2008 of $99.3 million or $1.20 per share on a fully diluted basis, compared to net income of $69.7 million or $0.85 per share on a fully diluted basis for second quarter 2008.

The Hartford Financial Services Group, Inc ((HIG)) lost 33.3% or $6.66 to $13.19 after the insurer reported its first quarterly loss in five years. The third quarter net loss in the quarter was $2.6 billion or $8.74 per diluted share compared to net income of $851 million or $2.68 per share, a year ago.

IntercontinentalExchange, Inc ((ICE)) rose 15.1% or $9.24 to $71.00 after the exchange operator reported third quarter revenues rose 33% to $201.4 million from $151.7 million a year ago. Net income in the quarter rose 15% to $75 million or $1.04 per diluted share compared to net income of $66.7 million or 93 cents per share, a year ago.

The Lubrizol Corporation ((LZ)) gained 4.5% or $1.69 to $35.83 after the chemical company reported third quarter revenues rose 22% to $1.36 billion from $1.12 billion a year ago. Net income in the quarter fell 11% to $63.2 million or 92 cents per diluted share compared to net income of $71.4 million or $1.02 per share, a year ago.

Liberty Media Corporation ((LINTA)) slid 5.1% or 33 cents to $6.05 after the video and on-line commerce, media, communications and entertainment industries reported third quarter revenues fell 3% to $1.64 billion from $1.69 billion a year ago.

MetLife, Inc ((MET)) gained 3.8% or $1.13 to $30.68 after the New York-based life insurer said third quarter revenues rose 14.5% to $13.38 billion from $11.68 billion a year ago. Net income in the quarter fell 39% to $600 million or 83 cents per diluted share compared to net income of $985 million or $1.29 per share, a year ago.

Motorola, Inc ((MOT)) fell 5.8% or 32 cents to $5.14 after the maker of communications gear reported third quarter sales fell 15% to $7.48 billion from $8.8 billion a year ago. Net loss in the quarter was $397 million or 18 cents per diluted share compared to net income of $60 million or 3 cents per share, a year ago.

Republic Services, Inc ((RSG)) climbed 6.3% or $1.29 to $21.58 after the second largest garbage hauler and recycler reported net income of $112.5 million, or 26 cents a share, up from $27.2 million, or 5 cents a share, a year ago.

The Timberland Company ((TBL)) rose 4.6% or 52 cents to $11.64 after the footwear and apparel maker reported third quarter revenues fell 2.2% to $423.6 million from $433.3 million a year ago. Net income in the quarter rose 18.5% $30.7 million or 52 cents per diluted share compared to net income of $25.9 million or 42 cents per share, a year ago.

Wyndham Worldwide Corporation ((WYN)) surged 20% or $1.43 to $8.50 after the hotels and vacation rentals reported third quarter revenues rose 1% to $1.22 billion from $1.21 billion a year ago. Net income in the quarter rose 21% $142 million or 80 cents per diluted share compared to net income of $117 million or 65 cents per share, a year ago.