MasterCard, Cigna, Cabela, Expedia Surge

Mayank Mehta
30 Jul, 2009
New York City

Expedia, Inc led gainers in the S&P 500 index with a rise of 13.4%. Amkor Technology, Inc beats second quarter estimates. BorgWarner Inc posts another quarterly loss on charges, the stock plunges 60%. MasterCard surged after quarterly profit. Cigna gained on revised earnings outlook.

[R]11:00AM New York – Expedia, Inc led gainers in the S&P 500 index with a rise of 13.4%. Amkor Technology, Inc second quarter profit beats estimates. BorgWarner Inc posts another quarterly loss on charges.[/R]

Of the stocks in S&P 500 index, 455 increased, 45 declined and none were unchanged.

Akamai Technologies, Inc led the decliners in the S&P 500 index with a loss of 20.8% followed by losses in Symantec Corporation of 10.5%, in Iron Mountain Incorporated of 6.0%, in Eastman Kodak Company of 5.1% and in MetroPCS Communications, Inc of 4.9%.

Expedia, Inc led gainers in the S&P 500 index with a rise of 13.4% followed by gains in Wynn Resorts, Limited 11.9%, in Motorola, Inc of 11.8% and DENTSPLY International Inc of 11.3%.

Other Movers

Akamai Technologies, Inc ((AKAM)) decreased 11.2% or $2.30 to $18.10 after the internet caching services said second quarter revenues rose 5.7% to $205 million from $194 million a year ago. Net income in the quarter rose 5% to $36 million or 19 cents per diluted share compared to net income of $34.3 million or 19 cents per share a year ago.

Alcatel Lucent ((ALU)) rose 7.8% or 20 cents to $2.75 after the telecom gear maker said second quarter revenues fell 4.6% to €3.91 billion from €4.10 billion a year ago. Net profit in the quarter was €14 million or €0.01 per diluted share compared to net loss of €1.10 billion or €0.49 per share a year ago.

Amkor Technology, Inc ((AMKR)) rose 9.6% or 54 cents to $6.14 after the microchip assembly and test company said second quarter sales fell 27% to $507 million from $690.7 million a year ago. Net income in the quarter fell 86% to $9 million or 5 cents per diluted share compared to net income of $65 million or 33 cents per share a year ago.

Aon Corporation ((AOC)) climbed 0.7% or 30 cents to $39.99 after the largest global insurance broker reported second quarter revenues fell 3.6% to $1.89 billion from $1.96 billion a year ago. Net income for the quarter fell 86.8% to $149 million or 52 cents per diluted share compared to net income of $1.1 billion or $3.71 per share a year ago.

ASM International N.V ((ASMI)) dropped 2.0% or 28 cents to $5.59 after the semiconductor equipment maker said second quarter sales fell 43% to €119.5 million. Net loss in the quarter was €55.7 million or €1.08 per diluted share compared to net loss of €23.3 million or €0.45 per share a year ago.

AstraZeneca PLC ((AZN)) rose 2.5% or $1.20 to $47.17 after the withdrawal of two generic competitors to heart drug Toprol XL helped boost second quarter sales and raise full-year earnings targets.

Avon Products, Inc ((AVP)) surged 7.0% or $2.09 to $31.83 after the cosmetics company reported second quarter revenues fell 10% to $2.47 billion from $2.74 billion a year ago. Net income for the quarter fell 65% to $82.9 million or 19 cents per diluted share compared to net income of $235.6 million or 55 cents per share a year ago.

Automatic Data Processing, Inc ((ADP)) fell 2.7% or $1.07 to $36.74 after the provider of payroll and other benefits services reported fourth quarter revenues fell 4.5% to $2.11 billion from $2.21 billion a year ago. Net income for the quarter rose 51% to $352.8 million or 70 cents per diluted share compared to net income of $233.5 million or 45 cents per share a year ago.

Banco Santander, S.A ((STD)) sank 2.0% or 23 cents to $13.86 after the bank said first-half net interest income rose 24.2% to €12.7 million from €10.2 billion a year ago. Net income in the first-half fell 4.3% to €4.5 billion or €0.53 per diluted share compared to net income of €4.7 billion or €0.66 per share a year ago.

BioScrip, Inc ((BIOS)) rose 9.5% or 59 cents to $6.72 after the specialty pharmaceutical healthcare organization reported second quarter revenues fell 5.7% to $328.7 million from $348.4 million a year ago. Net income for the quarter rose 175% to $4.4 million or 11 cents per diluted share compared to net income of $1.6 million or 4 cents per share a year ago.

BorgWarner Inc ((BWA)) fell 62.2% or $53.95 to $32.20 an auto parts maker said second quarter sales fell 40% to $916.2 million from $1.52 billion a year ago. Net loss in the quarter was $35.9 million or 31 cents per diluted share compared to net loss of $87.5 million or 74 cents per share a year ago.

Cabot Corporation ((CBT)) jumped 6.4% or $1.00 to $16.43 after the specialty chemicals and performance Materials Company said third quarter sales fell 39% to $511 million from $840 million a year ago. Net loss in the quarter was $12 million or 20 cents per diluted share compared to net income of $27 million or 43 cents per share a year ago.

Cabela''s Incorporated ((CAB)) climbed 18.9% or $2.78 to $17.46 after the seller of outdoor gear reported second quarter revenues rose 4.4% to $549.2 million from $526 million a year ago. Net income for the quarter rose 25% to $9.12 million or 14 cents per diluted share compared to net income of $7.28 million or 11 cents per share a year ago.

Canadian Pacific Railway Limited ((CP)) gained 9.7% or $3.89 to $43.71 after the safest, most fluid railway reported second quarter revenues fell 16.7% to $1.0 billion from $1.2 billion a year ago. Net income for the quarter fell 1.7% to $157.3 million or 93 cents per diluted share compared to net income of $154.7 million or $1.00 per share a year ago.

Cal Dive International, Inc ((DVR)) plunged 2.0% or 16 cents to $8.79 after the marine contractor said second quarter revenues rose 51% to $260.3 million from $172 million a year ago. Net income in the quarter rose 69% to $28.6 million or 30 cents per diluted share compared to net income of $16.9 million or 16 cents per share a year ago.

CARBO Ceramics Inc ((CRR)) dropped 2.6% or $1.01 to $39.40 an oilfield services company reported second quarter revenues fell 22.4% to $69.3 million from $89.3 million a year ago. Net income for the quarter fell 30.4% to $9.4 million or 41 cents per diluted share compared to net income of $13.5 million or 55 cents per share a year ago.

California Water Service Group ((CWT)) lost 2.0% or 68 cents to $37.30 after the provider of regulated and non-regulated water service said second quarter revenues rose 11% to $116.7 million from $105.6 million a year ago. Net income in the quarter rose 20% to $12.1 million or 58 cents per diluted share compared to net income of $10.1 million or 48 cents per share a year ago.

Churchill Downs Incorporated ((CHDN)) slipped 3.6% or $1.32 to $35.11 an owner and operator of pari-mutuel wagering properties and businesses said second quarter revenues rose 0.4% to $180.0 million from $179.3 million a year ago. Net income in the quarter rose 5% to $30.9 million or $2.20 per diluted share compared to net income of $29.4 million or $2.10 per share a year ago.

CIGNA Corporation ((CI)) the health insurer advanced 9.3% or $2.48 to $29.06 after the company raised full year earnings estimates.

Covance Inc ((CVD)) added 3.4% or $1.75 to $51.90 after the drug development services company said second quarter revenues rose 6% to $489.3 million from $461.8 million a year ago. Net income in the quarter fell 15% to $43 million or 67 cents per diluted share compared to net income of $50.9 million or 80 cents per share a year ago.

Dresser-Rand Group Inc ((DRC)) fell 2.0% or 57 cents to $27.99 after the maker of equipment for the oil and gas industry said second quarter revenues rose 12% to $606.1 million from $541.2 million a year ago. Net income in the quarter rose 29% to $60.3 million or 74 cents per diluted share compared to net income of $46.7 million or 55 cents per share a year ago.

Express Scripts, Inc ((ESRX)) rose 2.0% or $1.30 to $73.06 after the pharmacy benefits manager said second quarter revenues fell 0.5% to $5.5 billion from $5.53 billion a year ago. Net income in the quarter rose 1% to $192.3 million or 74 cents per diluted share compared to net income of $190.2 million or 75 cents per share a year ago.

Exxon Mobil Corporation ((XOM)) the U.S. oil company fell 0.9% or 65 cents to $70.78.

Genco Shipping & Trading Limited ((GNK)) plunged 3.0% or 71 cents to $24.56 after the shipping industry said second quarter revenues fell 10% to $93.7 million from $104.6 million a year ago. Net income in the quarter fell 38.3% to $37.6 million or $1.20 per diluted share compared to net income of $60.9 million or $2.03 per share a year ago.

International Paper Company ((IP)) surged 5.5% or $1.03 to $19.42 after the maker of office paper reported earnings from continuing operations and before special items in the 2009 second quarter totaled $86 million 20 cents compared with $34 million 8 cents in the first quarter of 2009 and $235 million 56 cents in the second quarter of 2008.

LoopNet, Inc ((LOOP)) surged 2.2% or 18 cents to $8.12 an online marketplace for commercial real estate and businesses said second quarter revenues fell 12.7% to $19.2 million from $22.0 million a year ago. Net income in the quarter fell 60% to $1.8 million or 4 cents per diluted share compared to net income of $4.5 million or 12 cents per share a year ago.

MasterCard Incorporated ((MA)) increased 6.7% or $12.66 to $201.21 after the world’s payment card network reported a profit of $349 million or $2.67 a share compared to a loss of $747 million or $5.70 a share in the year ago period. Net revenues rose to $1.28 billion, from $1.25 billion.

Owens-Illinois, Inc ((OI)) dropped 3.5% or $1.05 to $28.94 after the manufacturer of glass containers said second quarter sales fell 18.2% to $1.81 billion from $2.21 billion a year ago. Net income in the quarter fell 35.5% to $149.3 million or 88 cents per diluted share compared to net income of $231.3 million or $1.35 per share a year ago.

Tesoro Corporation ((TSO)) fell 2.2% or 29 cents to $12.80 after an oil refiner said second quarter revenues fell 52.8% to $4.2 billion from $8.9 billion a year ago. Net loss in the quarter was $45 million or 33 cents per diluted share compared to net income of $4 million or 3 cents per share a year ago.

The Timberland Company ((TBL)) slipped 14.6% or $2.17 to $12.65 a casual footwear and apparel business said second quarter revenues fell 14.4% to $179.7 million from $209.9 million a year ago. Net loss in the quarter was $19.2 million or 34 cents per diluted share compared to net loss of $18.9 million or 32 cents per share a year ago.

Visa Inc ((V)) fell 2.0% or $1.01 to $65.77 after the world''s largest credit card network said third quarter revenues rose 2% to $1.64 billion from $1.61 billion a year ago. Net income in the quarter rose 73% to $729 million or 97 cents per diluted share compared to net income of $422 million or 51 cents per share a year ago.

Wyndham Worldwide Corporation ((WYN)) gained 2.6% or 34 cents to $13.01 after the hotel operator said third quarter revenues fell 19% to $920 million from $1.13 billion a year ago. Net income in the quarter fell 28% to $71 million or 39 cents per diluted share compared to net income of $98 million or 55 cents per share a year ago.