Philips, Liberty Global, Arcelor, AK Steel Rise

Mayank Mehta
25 Jan, 2010
New York City

AK Steel Holding Corporation led gainers in the S&P 500 index with a rise of 7.7%. Sealed Air''s adjusted net income hits target. Eaton Corp. fourth quarter net up 29.4% and sales off 10%. CNH Global net drops 75%.

[R]12:20 PM New York – AK Steel Holding Corporation led gainers in the S&P 500 index with a rise of 7.7%. Sealed Air''s adjusted net income hits target. Eaton Corp. fourth quarter net up 29.4% and sales off 10%. CNH Global net drops 75%.[/R]

Of the stocks in S&P 500 index, 447 increased, 50 declined and 3 were unchanged.

Quest Diagnostics Incorporated led the decliners in the S&P 500 index with a loss of 3.9% followed by losses in Halliburton Company of 2.1% and in Dean Foods Company of 2.0%, in Total System Services, Inc of 1.7% and in Starbucks Corporation of 1.5%.

AK Steel Holding Corporation led gainers in the S&P 500 index with a rise of 7.7% followed by gains in Massey Energy Company 4.2%, in Janus Capital Group Inc of 3.9% and in Gannett Co., Inc 3.7%.

Other Movers

AK Steel Holding Corporation ((AKS)) added 4.3% or 88 cents to $21.07 after the steel maker reported fourth quarter net income of $39.8 million or 36 cents per diluted share compared to a net loss of $430.6 million or $3.87 per share a year ago.

Bank of Hawaii Corporation ((BOH)) decreased 0.1% or 8 cents to $49.00 after the bank reported fourth quarter net interest income fell 2% to $103.5 million from $105.9 million a year ago. Net income in the quarter rose 3% to $40.5 million or 84 cents per diluted share compared to net income of $39.3 million or 82 cents per share a year ago.

CNH Global N.V ((CNH)) was unchanged at $25.48 after the manufacturer of agricultural and construction equipment said fourth quarter sales fell 12% to $3.21 billion from $3.66 billion a year ago. Net income for the quarter fell 75% to $28 million or 12 cents per diluted share compared to net income of $114 million or 48 cents per share a year ago.

Eaton Corporation ((ETN)) added 2.9% or $1.92 to $67.80 after the maker of hydraulics and electrical equipment reported fourth quarter sales fell 10.3% to $3.13 billion from $3.49 billion a year ago. Net income in the quarter rose 29.4% to $211 million or $1.25 per diluted share compared to net income of $163 million or 98 cents per share a year ago.

Forest Laboratories, Inc ((FRX)) the drugmaker rose 1% or 31 cents to $29.74.

GenCorp Inc ((GY)) the maker of spacecraft parts rose 0.1% or 1 cent to $5.97.

Halliburton Company ((HAL)) the oilfield-services provider fell 3.3% or $1.05 to $30.13.

Intel Corporation ((INTC)) rose 2.1% or 41 cents to $20.32 after the semiconductor makers said board of directors has declared 15.75 cents per share quarterly dividend 12.5% increase from the previous quarterly distribution.

Liberty Global Inc ((LBTYA)) increased 7.1% to $25.20 after it agreed to sell its 38% stake in the Japan based Jupiter Telecommunications Corp for $4 billion to KDDI Corp.

Medifast Inc ((MED)) surged 12.2% to $21.19 after the weight loss program manager estimated current fiscal year adjusted earnings per share between 17cents and 20 cents.

Quest Diagnostics Incorporated ((DGX)) rose 0.3% or 21 cents to $58.59 after the provider of medical testing services reported fourth quarter revenues rose 2.7% to $1.85 billion from $1.80 billion a year ago. Net income in the quarter rose 7% to $181.6 million or 97 cents per diluted share compared to net income of $169.8 million or 87 cents per share a year ago.

Royal Philips Electronics NV ((PHG)) soared 7% to $30.25 after it reported fourth quarterly net income in a row on better than expected performance at its medical devices unit.

Sara Lee Corporation ((SLE)) the food products maker increased 2.2% or 26 cents to $11.97.

Sealed Air Corporation ((SEE)) closed unchanged at $20.44 after the bubble wrap packaging maker reported fourth quarter sales fell 2% to $1.15 billion from $1.17 billion a year ago. Net income in the quarter rose 37.6% to $65.1 million or 37 cents per diluted share compared to net income of $47.3 million or 26 cents per share a year ago.

Telefonaktiebolaget LM Ericsson ((ERIC)) rose 0.2% or 2 cents to $9.85 after the consumer electronics maker said fourth quarter sales fell 13% to SEK58.3 billion from SEK67.0 billion a year ago. Net income for the quarter fell 83% to SEK0.7 billion or SEK0.10 per diluted share compared to net income of SEK4.1 billion or SEK 1.21 per share a year ago.

Texas Industries, Inc ((TXI)) the producer of cement advanced 2.1% or 80 cents to $38.04.