Whirlpool, NYSE Drop; Hartford, GE Surge

Mayank Mehta
09 Feb, 2009
New York City

Whirlpool Corporation plunges on fourth quarter earnings. Administaff, British bank Barclays and China based travel agency Ctrip.com Surge. CNA Financial Corporation plunged on fourth quarter loss.

[R]3:30PM New York – Whirlpool Corporation plunges on fourth quarter earnings. Administaff, British bank Barclays and China based travel agency Ctrip.com Surge. CNA Financial Corporation plunged on fourth quarter loss.[/R]

Of the stocks in S&P 500 index, 219 increased, 276 declined and 5 were unchanged.

Pulte Homes Inc led the decliners in the S&P 500 index with a loss of 7.9% followed by losses in King Pharmaceuticals with a loss of 7%, in New York Times of 6.5%, in Lennar Corp of 6.4%, in Lincoln Nasdaq OMX Group of 6.3%.

American Capital led gainers in the S&P 500 index with a rise of 22% followed by gains in Hartford Financial Services of 18.5%, in Genworth Financial of 15.5%, in General Electric of 13.8% and Bank of America of 12.4%.

Other Movers

Administaff, Inc ((ASF)) fell 4.7% or $1.13 to $22.53 after the provider of human resources services for small and medium-sized businesses reported fourth quarter revenues rose 6% to $426.0 million from $402 million a year ago. Net income in the quarter fell 27% to $9.7 million or 39 cents per diluted share compared to net income of $13.3 million or 50 cents per share a year ago.

Barclays PLC ((BCS)) gained 10.4% or 73 cents to $7.02 after the UK based third-biggest U.K. bank by assets said second-half net profit increased 49% to £2.66 billion or £31.3 pence per diluted share compared to net profit of £1.78 billion or £26.6 pence per share , a year earlier.

Chindex International, Inc ((CHDX)) dropped 6.0% or 46 cents to $7.11 after the healthcare services provider in China reported third quarter revenues rose 16% to $41.6 million from $36 million a year ago. Net income in the quarter fell 78% to $846,000 or 5 cents per diluted share compared to net income of $3.9 million or 28 cents per share a year ago.

Ctrip.com International, Ltd ((CTRP)) added 8.1% or $1.75 to $23.25 after the travel service provider in China reported fourth quarter revenues rose 11% to Rmb 396 million from Rmb 356 million a year ago. Net income in the quarter fell 10% to Rmb 121 million or Rmb 1.78 per ADS compared to net income of Rmb 135.5 million or Rmb 1.96 per ADS a year ago.

CNA Financial Corporation ((CNA)) slid 4.4% or 56 cents to $11.95 after the insurance company reported fourth quarter net loss in the quarter was $336 million or $1.31 per diluted share compared to net income of $164 million or 60 cents per share a year ago.

Hasbro, Inc ((HAS)) decreased 3.3% or 79 cents to $22.75 after the toy maker reported fourth quarter revenues fell 5% to $1.2 billion from $1.3 billion a year ago. Net income in the quarter fell 30% to $93.6 million or 62 cents per diluted share compared to net income of $133.7 million or 84 cents per share a year ago.

The Hartford Financial Services Group, Inc ((HIG)) gained 20.4% or $2.59 to $15.27 on speculation that the government bank bailout will release more funds for insurance companies and regulators will provide relief from regulatory capital requirements.

Loews Corporation ((L)) declined 6.7% or $1.68 to $23.30 after the largest diversified corporations in the United States reported fourth quarter revenues fell 24% to $2.74 billion from $3.59 billion a year ago. Net loss in the quarter was $958 million or $2.20 per diluted share compared to net income of $512 million or 72 cents per share a year ago.

Lorillard, Inc ((LO)) rose 4.0% or $2.50 to $64.76 after the cigarette maker reported fourth quarter sales rose 24% to $1.01 billion from $957 million a year ago. Net income in the quarter rose 21% to $258 million or $1.53 per diluted share compared to net income of $213 million or $1.23 per share a year ago.

Motorola, Inc ((MOT)) rose 5.1% or 20 cents to $4.08 on no apparent news.

Nam Tai Electronics, Inc ((NTE)) fell 16.0% or 90 cents to $4.75 after the electronics manufacturing and design services provider reported fourth quarter sales fell 9.6% to $169.0 million from $186.9 million a year ago. Net loss in the quarter was $14.4 million or 32 cents per diluted share compared to net income of $9.6 million or 21 cents per share a year ago.

NYSE Euronext ((NYX)) lost 7.9% or $1.82 to $21.08 after the operator of exchanges in New York and in group reported fourth quarter revenues rose 9% to $1.2 billion from $1.1 billion a year ago. Net loss in the quarter was $1.34 billion or $5.06 per diluted share compared to net income of $156 million or 59 cents per share a year ago.

Rio Tinto plc ((RTP)) lost 4.3% or $5.30 to $116.81 after the mining company Corus chairman Jim Leng has resigned as non-executive director of Rio Tinto. He was appointed to the job less than a month ago.

Sohu.com Inc ((SOHU)) gained 9.6% or $4.39 to $50.00 after china''s Internet media company reported fourth quarter revenues rose 86% to $121.6 million from $65.3 million a year ago. Net income in the quarter rose 275% to $56.6 million or $1.45 per diluted share compared to net income of $15.1 million or 39 cents per share a year ago.

Whirlpool Corporation ((WHR)) lost 9.9% or $3.63 to $32.66 after the home appliance maker reported fourth quarter revenues fell 19% to $4.32 billion from $5.32 billion a year ago. Net income in the quarter fell 76% to $44 million or 60 cents per diluted share compared to net income of $187 million or $2.38 per share a year ago.