TD Ameritrade, Kraft Fall; Citi, Brink's Rise

Mayank Mehta
19 Jan, 2010
New York City

Kraft edged lower after Cadbury accepted its revised offer that valued the company at $19.5 billion. Tyco TD Ameritrade profit falls. Tyco agreed to pay $2 billion for Brink

[R]11:30 AM New York – Kraft edged lower after Cadbury accepted its revised offer that valued the company at $19.5 billion. Tyco TD Ameritrade profit falls. Tyco agreed to pay $2 billion for Brink’s Home Security. Citigroup recovered from earlier loss after it reported quarter loss that exceeded some estimates. TD Ameritrade fell on lower earnings.[/R]

Of the stocks in S&P 500 index, 294 increased, 197 declined and 9 were unchanged.

Sprint Nextel Corporation led the decliners in the S&P 500 index with a loss of 4.9% followed by losses in Fastenal Company of 4.8% and in E*Trade Financial Corporation of 3.8%, in AK Steel Holding Corporation of 3.3% and in Quanta Services, Inc of 2.9%.

The Williams Companies, Inc led gainers in the S&P 500 index with a rise of 9.9% followed by gains in JDS Uniphase Corporation 5.9%, in Humana Inc of 5.7% and in Cigna Corporation 4.9%.

Other Movers

Avago Technologies Limited ((AVGO)) decreased 1.3% or 24 cents to $18.00 after the Singapore-based manufacturer of semiconductor products today announced an integrated magnetic encoder for speed detection.

CardioNet, Inc ((BEAT)) the maker of wireless heart- monitoring devices rose 1.4% or 9 cents to $6.39.

Central Vermont Public Service Corporation ((CV)) the electricity producer dropped 0.8% or 17 cents to $20.49.

Citigroup Inc ((C)) fell 3.5% or 12 cents to $3.30 after the bank reported fourth quarter revenues fell 3.6% to $5.4 billion from $5.6 billion a year ago. Net loss in the quarter was $7.6 billion or 33 cents per diluted share compared to net loss of $17.3 billion or $3.40 per share a year ago.

Craftmade International, Inc ((CRFT)) gained 4.3% or 12 cents to $2.88 after the maker of Durocraft clocks and lights said that it recently received an unsolicited and conditional proposal from Litex Industries, Limited to acquire the company for $3.25 a share in cash. The company rejected the offer.

First Defiance Financial Corp ((FDEF)) added 6.2% or 68 cents to $11.47 after the finance company said fourth quarter net interest income rose 9.3% to $17.5 million from $16 million a year ago. Net income in the quarter rose 49.6% to $1.1 million or 14 cents per diluted share compared to net income of $735,000 or 9 cents per share a year ago.


Kraft Foods Inc ((KFT)) decreased 2.3% to $28.92 after it revised its offer that was accepted by the UK based chocolate maker Cadbury Plc for $19.5 billion. The revised offer consists 60% in cash and requires only 50% and one vote of shareholder approval for the deal which is scheduled in the first week in February. The deal values the company at 840 pence a share.

Cadbury Plc in London trading closed up 3.6% to 836.50 pence.

McDonald’s Corporation ((MCD)) added 1.3% or 85 cents to $63.13 after the restaurant company was upgraded to “outperform” from “neutral” at Credit Suisse Group.

Omnova Solutions Inc ((OMN)) gained 5.1% or 31 cents to $6.35 after the provider of chemicals and decorative products said fourth quarter sales fell 14% to $188.8 million from $219.6 million a year ago. Net income in the quarter was $11.1 million or 25 cents per diluted share compared to net income of $0.8 million or 2 cents per share a year ago.

Parker-Hannifin Corporation ((PH)) added 2.5% or $1.51 to $60.07 after the maker of motion control technology and systems reported second quarter sales fell 12.6% to $2.35 billion from $2.69 billion a year ago. Net income in the quarter fell 32.7% to $104.5 million or 64 cents per diluted share compared to net income of $155.4 million or 96 cents per share a year ago

Posco ((PKX)) an integrated steel producer in Korea increased 3.4% or $4.45 to $135.49 after the company said that Warren E. Buffett controlled conglomerate Berkshire Hathaway may increase stake in the company.

TD Ameritrade Holding Corporation ((AMTD)) fell 2.0% or 38 cents to $17.95 after the online brokerage company reported first quarter revenues rose 2% to $624.6 million from $610.7 million a year ago. Net income in the quarter fell 26% to $136.2 million or 23 cents per diluted share compared to net income of $184.4 million or 31 cents per share a year ago.

Tyco International Ltd ((TYC)) rose 1.2% or 45 cents to $37.99 after the maker of security systems today announced a definitive agreement to acquire Brink''s Home Security Holdings for $2 billion. Tyco intends to combine the company with its ADT security unit. The cash and stock transaction is valued at $42.50 per share or approximately $2.0 billion. Brink’s surged 32% to $41.37.