XL Capital Surges 61%, Nvidia Drops 13%

123jump.com Staff
11 Feb, 2009
New York City

XL capital surges 61%. Applied Materials plunges on first quarter earnings. ArcelorMittal declined on fourth quarter loss. Choice Hotels International, Computer Sciences Corporation, Level 3 Communications Surge.

[R]3:45 PM New York – XL capital surges 61%. Applied Materials plunges on first quarter earnings. ArcelorMittal declined on fourth quarter loss. Choice Hotels International, Computer Sciences Corporation, Level 3 Communications Surge.[/R]

Of the stocks in S&P 500 index, 319 increased, 174 declined and 7 were unchanged.

Nvidia Corp led the decliners in the S&P 500 index with a loss of 12.6% followed by losses in Allegheny Energy with a loss of 10.1%, in International Paper Company of 7.2%, in Devon Energy of 6.4%, in Qwest Communication of 5.2%.

XL Capital Ltd led gainers in the S&P 500 index with a surge of 61.4% followed by gains in Marsh & McLennan of 14.4%, in Regions Financial of 14%, in Marshall & Ilsley of 13% and in Ingersoll Rand of 12.6%.

Other Movers

Agrium Inc ((AGU)) fell 5.0% or $1.95 to $36.95 after the retailer of agricultural products and services in North and South America reported fourth quarter sales rose 36% to $1.9 billion from $1.4 billion a year ago. Net income in the quarter fell 28% to $124 million or 79 cents per diluted share compared to net income of $172 million or $1.24 per share a year ago.

Applied Materials, Inc ((AMAT)) decreased 4.4% or 45 cents to $9.69 after the chip manufacturing equipment maker said first quarter sales fell 36% to $1.33 billion from $2.09 billion a year ago. Net loss in the quarter was $132.9 million or 10 cents per diluted share compared to net income of $262.4 million or 19 cents per share a year ago.

ArcelorMittal ((MT)) dropped 11.6% or $3.27 to $24.80 after the global steel producer reported fourth quarter sales fell 21% to $22.1 billion from $28 billion a year ago. Net loss in the quarter was $2.6 billion or $1.93 per diluted share compared to net income of $2.4 billion or $1.71 per share a year ago.

Atmel Corporation ((ATML)) fell 6.2% or 23 cents to $3.46. The company today issued the statement in response to the announcement that Microchip Technology Inc. is terminating its consideration of a potential transaction with Atmel and is withdrawing the slate of directors it had previously nominated for election at Atmel''s next annual meeting of shareholders:

Bob Evans Farms, Inc ((BOBE)) declined 5.5% or $1.13 to $19.08 after the pork sausage producer and restaurant owner said third quarter revenues fell 1.3% to $443.8 million from $449.7 million a year ago. Net loss in the quarter was $51.4 million or $1.67 per diluted share compared to net income of $20 million or 61 cents per share a year ago.

CB Richard Ellis Group, Inc ((CBG)) gained 15.3% or 64 cents to $4.41 after the largest commercial-property broker reported quarterly earnings of 37 cents a share excluding one-time charges. Analysts had forecast profit of 27 cents a share on average, according to FactSet Research.

Choice Hotels International, Inc ((CHH)) fell 5.6% or $1.45 to $24.36 after the hotel franchisor said fourth quarter revenues fell 9% to $154.5 million from $169 million a year ago. Net income in the quarter fell 33% to $18.7 million or 30 cents per diluted share compared to net income of $27.9 million or 44 cents per share a year ago.

Computer Sciences Corporation ((CSC)) lost 3.6% or $1.45 to $38.82 after it provides information-technology services said third quarter revenues fell 5% to $3.95 billion from $4.16 billion a year ago. Net income in the quarter fell 10% to $160.6 million or $1.06 per diluted share compared to net income of $179 million or $1.05 per share a year ago.

Dean Foods Company ((DF)) added 5.5% or $1.01 to $19.32 after the biggest U.S. milk processor said fourth quarter net income more than doubled despite declining revenue and faster fall in energy and dairy costs.

An adjusted basis fourth quarter diluted earnings per share were 46 cents, a 70% increase over the 27 cents per adjusted diluted share earned in the prior year''s fourth quarter.

Douglas Emmett Inc ((DEI)) slid 10.2% or $1.14 to $10.00 after the fully integrated, self-administered and self-managed real estate investment trust said fourth quarter revenues rose 11.9% to $155.6 million from $139.1 million a year ago. Net loss in the quarter was $6.4 million or 5 cents per diluted share compared to net loss of $5.7 million or 5 cents per share a year ago.

Fidelity National Information Services, Inc ((FIS)) plunged 6.3% or $1.12 to $16.54 after the processes financial transactions for banks and financial services companies said fourth quarter revenues rose 0.8% to $862.0 million from $855.3 million a year ago. Net income in the quarter fell 73% to $28.8 million or 15 cents per diluted share compared to net income of $108.4 million or 55 cents per share a year ago.

Forrester Research, Inc ((FORR)) fell 6.0% or $1.13 to $17.70 an independent research company reported fourth quarter sales rose 7.7% to $62.9 million from $58.4 million a year ago. Net income in the quarter rose 64.3% to $9.2 million or 39 cents per diluted share compared to net income of $5.6 million or 24 cents per share a year ago.

Given Imaging Ltd ((GIVN)) dropped 3.0% or 24 cents to $7.90 after maker of products for detecting gastrointestinal disorders said fourth quarter revenues fell 1.5% to $33.8 million from $34.3 million a year ago. Net loss in the quarter was $2.0 million or 7 cents per diluted share compared to net income of $12.8 million or 41 cents per share a year ago.

HealthSpring, Inc ((HS)) slipped 3.2% or 62 cents to $18.74 after the managed care company said fourth quarter revenues rose 15.4% to $540.8 million from $468.6 million a year ago. Net income in the quarter rose 8% to $28.3 million or 51 cents per diluted share compared to net income of $26.2 million or 46 cents per share a year ago.

Ingersoll-Rand Company Limited ((IR)) plunged 8.2% or $1.40 to $15.59 after the global diversified industrial firm providing products, services and solutions reported fourth quarter revenues rose 58% to $3.67 billion from $2.32 billion a year ago. Net loss in the quarter was $3.3 billion or $10.27 per diluted share compared to net income of $2.5 billion or $9.06 per share a year ago.

KB Financial Group Inc ((KB)) slipped 3.0% or 71 cents to $23.31 after the commercial bank in Korea reported fourth quarter sales was $18 trillion won. Net income in the quarter was $43.9 billion won.

Level 3 Communications, Inc ((LVLT)) rose 16.0% or 16 cents to $1.16 after the communications business reported fourth quarter revenues fell 4.5% to $1.05 billion from $1.10 billion a year ago. Net income in the quarter was $44 million or 3 cents per diluted share compared to net loss of $91 million or 6 cents per share a year ago.

Marsh & McLennan Companies, Inc ((MMC)) rose 15.6% or $2.93 to $21.64 after the second-biggest insurance broker said it earned 37 cents per share up 54% from the year ago period. Total revenue fell 8.7% to $2.66 billion.

NICE-Systems Ltd ((NICE)) slipped 4.0% or 83 cents to $19.77 after the interactive solutions provider reported fourth quarter revenues rose 13.6% to $163.1 million from $143.6 million a year ago. Net income in the quarter rose 125% to $18.7 million or 31 cents per diluted share compared to net income of $8.3 million or 13 cents per share a year ago.

NVIDIA Corporation ((NVDA)) fell 13.2% or $1.23 to $8.09 after the second-largest maker of graphics chips reported a fourth quarter loss that exceeded analysts’ estimates.

Research In Motion Limited ((RIMM)) fell 16.9% or $9.65 to $47.39 after the maker of the BlackBerry mobile phone said that earnings in the fourth quarter would be at the low end of its earlier target of 83 cents to 91 cents a share. Analysts had been expecting 86 cents a share according to the consensus compiled by FactSet Research.

V.F.Corporation ((VFC)) fell 4.9% or $2.83 to $54.24 after the apparel maker said fourth quarter sales fell 2% to $1.89 billion from $1.93 billion a year ago. Net income in the quarter fell 30% to $115.9 million or $1.05 per diluted share compared to net income of $164.4 million or $1.46 per share a year ago.

XL Capital ((XL)) surged 61% or $1.78 to $4.68 after it reported its second quarterly loss in a row and cut its dividend. The company also plans to cut nearly 10% of its staff.