News Corp Rises; Walgreen, Ralph Lauren Fall

Mayank Mehta
03 Feb, 2010
New York City

The Western Union Company led the decliners in the S&P 500 index with a loss of 9.2%. Fiserv, Inc fourth quarter net income rises 90%. News Corp lifts 2010 outlook. Comcast Corp fourth quarter profit rises as the revenues gain. Pfizer Inc fourth quarter profit misses expectations.

[R]1:30 PM New York – The Western Union Company led the decliners in the S&P 500 index with a loss of 9.2%. Fiserv, Inc fourth quarter net income rises 90%. BDK News Corp lifts 2010 outlook. Comcast Corp fourth quarter profit rises as the revenues gain. Pfizer Inc fourth quarter profit misses expectations.[/R]

Of the stocks in S&P 500 index, 154 increased, 335 declined and 11 were unchanged.

The Western Union Company led the decliners in the S&P 500 index with a loss of 9.2% followed by losses in Ryder System, Inc of 8.6% and in C.H. Robinson Worldwide, Inc of 8.5%, in VeriSign, Inc of 6.3% and in Polo Ralph Lauren Corporation of 6.1%.

News Corporation led gainers in the S&P 500 index with a rise of 5.7% followed by gains in The Stanley Works 5.4%, in Roper Industries, Inc of 5.0% and in The Black and Decker Corporation 4.7%.

Other Movers

ACE Limited ((ACE)) added 1.9% or 94 cents to $50.50 after the property and casualty insurer said fourth quarter net premiums written rose 8.5% to $3.31 billion from $3.05 billion a year ago. Net income in the quarter was $953 million or $2.81 per diluted share compared to net income of $20 million or 6 cents per share a year ago.

Alliance Data Systems Corporation ((ADS)) decreased 4.0% or $2.46 to $59.00 after the provider of card services to retailers and wholesalers said fourth quarter revenues rose 7.5% to $545.9 million from $507.6 million a year ago. Net income in the quarter fell 10% to $40.7 million or 73 cents per diluted share compared to net income of $45.3 million or 68 cents per share a year ago.

Acme Packet, Inc ((APKT)) surged 27.5% or $2.94 to $13.59 after the maker of devices to transmit phone calls and video said fourth quarter revenues rose to $41.3 million from $30.6 million a year ago. The company also forecasted 2010 adjusted earnings per share of 44 cents.

Arthur J. Gallagher & Co ((AJG)) dropped 0.2% or 5 cents to $22.65 after the insurance broker said fourth quarter revenues rose 5.6% to $435.1 million from $412.1 million a year ago. Net income in the quarter rose 257.4% to $16.8 million or 16 cents per diluted share compared to net income of $4.7 million or 5 cents per share a year ago.

ATMI, Inc ((ATMI)) added 1.8% or 30 cents to $16.80 after the supplier of high performance materials reported fourth quarter revenues rose 20.7% to $84.6 million from $70.1 million a year ago. Net income in the quarter rose 118.7% to $7.0 million or 22 cents per diluted share compared to net income of $3.2 million or 10 cents per share a year ago.

The Black and Decker Corporation ((BDK)) rose 3.9% or $2.64 to $68.75 after the manufacturer of power tools and accessories reported fourth quarter sales fell 7% to $1.3 billion from $1.4 billion a year ago. Net income in the quarter fell 22.4% to $33.9 million or 55 cents per diluted share compared to net income of $43.7 million or 72 cents per share a year ago.

BRE Properties, Inc ((BRE)) rose 2.4% or 79 cents to $33.11 after the real estate investment trust said fourth quarter revenues fell 1.6% to $85.5 million from $86.9 million a year ago. Net loss in the quarter was $7.2 million or 13 cents per diluted share compared to net income of $55.7 million or $1.08 per share a year ago.

C.H. Robinson Worldwide, Inc ((CHRW)) dropped 6.9% or $3.97 to $53.47 after the freight shipments organizer said fourth quarter adjusted earnings were 52 cents a share, lower than expected by some analysts.

Comcast Corporation ((CMCSA)) fell 0.5% or 9 cents to $16.20 after the provider of cable services reported fourth quarter revenues rose 3% to $9.06 billion from $8.81 billion a year ago. Net income in the quarter rose 132% to $955 million or 33 cents per diluted share compared to net income of $412 million or 14 cents per share a year ago.

Ctrip.com International, Ltd ((CTRP)) slipped 5.4% or $1.81 to $31.42 after the travel service provider said fourth quarter revenues rose 42.7% to Rmb 565.7 million from Rmb 396.3 million a year ago. Net income in the quarter rose 56.6% to Rmb 190.2 million or Rmb 1.32 per ADS compared to net income of Rmb 121.4 million or Rmb 0.89 per ADS a year ago.

Diebold, Incorporated ((DBD)) rose 5.6% or $1.51 to $28.46 after the provider of self-service transaction systems reported fourth quarter sales fell 8.3% to $724.9 million from $791.1 million a year ago. Net income in the quarter was $16.7 million or 25 cents per diluted share compared to net income of $1.1 million or 1 cent per share a year ago.

Exide Technologies ((XIDE)) plunged 26.4% to $5.83 after the automotive battery maker said that the largest retailer Wal-Mart Stores Inc may drop the company from its suppliers list.

Fiserv, Inc ((FISV)) climbed 2.1% or $1.00 to $47.40 after the provider of information management and electronic commerce systems and services said fourth quarter revenues rose 2% to $1.06 billion from $1.04 billion a year ago. Net income in the quarter rose 90.3% to $118 million or 76 cents per diluted share compared to net income of $62 million or 39 cents per share a year ago.

GT Solar International, Inc ((SPLR)) gained 5.3% or 32 cents to $6.36 after the supplier of equipment to solar-cell manufacturers said third quarter revenues rose to $173.6 million from $205.2 million a year ago.

Honda Motor Co., Ltd ((HMC)) increased 3.9% or $1.34 to $35.60 after the manufacturer of motorcycles, automobiles and power products reported third quarter sales fell 11.5% to ¥2.24 trillion from ¥2.53 trillion a year ago. Net profit in the quarter rose 566% to ¥134.6 billion or ¥74.19 per diluted share compared to net profit of ¥20.2 billion or ¥11.16 per share a year ago.

Investment Technology Group ((ITG)) dropped 11.9% to $18.35 after it reported fourth quarter earnings of 19 cents compared to a range of estimates between 33 cents and 47 cents per share as published by Zacks.com.

JDS Uniphase Corporation ((JDSU)) rose 3.2% or 27 cents to $8.64 after the maker of optical communications equipment and testing gear said second quarter revenues fell 3% to $342.9 million from $353.8 million a year ago. Net loss in the quarter was $19.5 million or 9 cents per diluted share compared to net loss of $722.9 million or $3.36 per share a year ago.

Lowe’s Companies, Inc ((LOW)) dropped 3.2% or 73 cents to $21.85 after the home-improvement retailer was downgraded to “neutral” from “buy” at Goldman Sachs.

MetLife, Inc ((MET)) slipped 2.9% or $1.08 to $35.29 after the life insurance company said fourth quarter revenues fell 12% to $12.3 billion from $14.0 billion a year ago. Net income in the quarter fell 70% to $289 million or 35 cents per diluted share compared to net income of $954 million or $1.20 per share a year ago.

Mueller Water Products, Inc ((MWA)) gained 3.5% or 16 cents to $4.68 after the manufacturer of a range of water infrastructure said first quarter sales fell 15% to $313.1 million from $367.7 million a year ago. Net loss in the quarter was $10.7 million or 7 cents per diluted share compared to net loss of $400.0 million or $3.47 per share a year ago.

National Oilwell Varco, Inc ((NOV)) rose 1.9% or 85 cents to $43.50 after the oilfield equipment and services company reported fourth quarter revenues fell 18% to $3.13 billion from $3.81 billion a year ago. Net income in the quarter fell 33% to $394 million or 94 cents per diluted share compared to net income of $585 million or $1.40 per share a year ago.

Navios Maritime Partners L.P ((NMM)) slipped 6.2% or $1.02 to $15.38 after the maritime freight transportation operator announced that it plans to offer 3.5 million common units representing limited partnership interests in a public offering.

News Corp ((NSWA)) jumped more than 6% to $13.54 after the entertainment and publishing conglomerate reported quarterly earnings ahead of expectations and lifted its 2010 estimates.

Pfizer Inc ((PFE)) dropped 2.6% or 50 cents to $18.74 after the pharmaceutical company reported fourth quarter revenues rose 34% to $16.5 billion from $12.3 billion a year ago. Net income in the quarter rose 188.3% to $767 million or 10 cents per diluted share compared to net income of $266 million or 4 cents per share a year ago.

Polo Ralph Lauren Corporation ((RL)) fell 6.6% or $5.67 to $80.00 after the fashion company reported third quarter revenues fell 1% to $1.24 billion from $1.25 billion a year ago. Net income in the quarter rose 5.5% to $111.1 million or $1.10 per diluted share compared to net income of $105.3 million or $1.05 per share a year ago.
The stock declined as much as 9% after the sales missed some analysts estimate of as much as $1.26 billion.

The PNC Financial Services Group, Inc ((PNC)) dropped 0.4% or 27 cents to $54.38 after the bank today announced that it priced a $3.0 billion offering of 55.6 million shares of its common stock at $54.00 per share.

Quest Software, Inc ((QSFT)) fell 2.0% or 36 cents to $17.00 after the software company said fourth quarter revenues fell 3.5% to $194.5 million from $201.6 million a year ago. Net income in the quarter rose 26.7% to $37.0 million or 40 cents per diluted share compared to net income of $29.2 million or 28 cents per share a year ago.

Tesoro Corporation ((TSO)) dropped 3.0% or 39 cents to $12.59 after the petroleum refiner said fourth quarter sales rose 12% to $4.7 billion from $4.2 billion a year ago. Net loss in the quarter was $179 million or $1.30 per diluted share compared to net income of $97 million or 70 cents per share a year ago.

Time Warner Inc ((TWX)) fell 1.7% or 51 cents to $28.00 after the media and entertainment company reported fourth quarter revenues rose 1.4% to $7.3 billion from $7.2 billion a year ago. Net income in the quarter was $627 million or 53 cents per diluted share compared to net loss of $16.0 billion or $13.41 per share a year ago.

The Western Union Company ((WU)) plunged 9.8% or $1.85 to $17.00 after the payment-services company reported fourth quarter revenues rose 1.6% to $1.31 billion from $1.29 billion a year ago. Net income in the quarter fell 6.6% to $223.7 million or 32 cents per diluted share compared to net income of $239.6 million or 34 cents per share a year ago.

Wolverine World Wide, Inc ((WWW)) fell 6.8% or $1.84 to $25.31 after the manufacturer of a range of casual shoes, rugged outdoor and work footwear reported fourth quarter revenues fell 9.7% to $312.5 million from $346.1 million a year ago. Net income in the quarter fell 30.7% to $16.7 million or 33 cents per diluted share compared to net income of $24.1 million or 49 cents per share a year ago.