Market Updates
Hasbro, CVS, Home Depot, Lorillard Rise
Mayank Mehta
08 Feb, 2010
New York City
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Hasbro, Inc led gainers in the S&P 500 index with a rise of 14% after sales increased 12% and guided higher earnings in the year. CVS Caremark gained on the quarterly earnings increase. Loews Corp and CNA Financial Corp swing to the fourth quarter profit.
[R]11:40 AM New York – Hasbro, Inc led gainers in the S&P 500 index with a rise of 14% after sales increased 12% and guided higher earnings in the year. CVS Caremark gained on the quarterly earnings increase. Loews Corp and CNA Financial Corp swing to the fourth quarter profit.[/R]
Of the stocks in S&P 500 index, 162 increased, 321 declined and 17 were unchanged.
SunTrust Banks, Inc led the decliners in the S&P 500 index with a loss of 2.7% followed by losses in CBS Corporation of 2.6% and in Marshall & Ilsley Corporation of 2.5%, in The Dun & Bradstreet Corporation of 2.4% and in KeyCorp of 2.4%.
Hasbro, Inc led gainers in the S&P 500 index with a rise of 11.1% followed by gains in CVS Caremark Corporation 6.0%, in Motorola, Inc of 3.2% and in The Home Depot, Inc 3.0%.
Other Movers
Aaron's Inc ((AAN)) added 1.7% or 49 cents to $29.03 and the office and residential furniture leasing company may increase its sales by 23% according to a note in Barron’s. Separately, the company will donate two solar-powered electric systems to Haiti.
AMAG Pharmaceuticals, Inc ((AMAG)) fell 0.5% or 22 cents to $37.51 and the drugmaker provided a safety update on Feraheme(R) (ferumoxytol) injection for intravenous use.
Amazon.com, Inc ((AMZN)) rose 1.2% or $1.41 to $118.80 after the Internet retailer was upgraded to “buy” from “hold” by Collins Stewart Plc.
Athenahealth, Inc ((ATHN)) the provider of Internet-based services for medical practices fell 3.7% or $1.52 to $39.09.
Boardwalk Pipeline Partners, LP ((BWP)) fell 2.8% or 86 cents to $28.99 after the natural gas transportation and storage network operator reported fourth quarter revenues rose 35.7% to $279 million from $205.6 million a year ago. Net income in the quarter rose 6% to $71.6 million or 37 cents per diluted share compared to net income of $67.6 million or 46 cents per share a year ago.
Chindex International, Inc ((CHDX)) added 3.4% or 43 cents to $13.00 after the provider of healthcare products and services reported third quarter sales rose 12% to $46.5 million from $41.6 million a year ago. Net income in the quarter rose 361% to $3.9 million or 24 cents per diluted share compared to net income of $846,000 or 5 cents per share a year ago.
CVS Caremark Corp ((CVS)) increased 6% to $33.00 after it reported fourth quarter adjusted earnings of 79 cents a share. Net earnings increased 10% on higher pharmacy sales and front-of-store-sales edged up a fraction.
E*Trade Financial Corporation ((ETFC)) rose 3.4% or 5 cents to $1.51 after the online broker lowered the trading cost to $9.99 from $12.99 and charges to frequent trades were left at $7.99.
Hasbro, Inc ((HAS)) surged 13.6% or $4.19 cents to $34.99 after the toymaker reported fourth quarter revenues increased 12% to $1.38 billion from $1.23 billion a year ago. Net income in the quarter rose 77% to $165.6 million or 1.09 per diluted share compared to net income of $93.6 million or 62 cents per share a year ago.
The Home Depot, Inc ((HD)) gained 3.0% or 84 cents to $28.83 after the home-improvement retailer was upgraded to “overweight” from “equal-weight” at Morgan Stanley.
Loews Corporation ((L)) rose 0.1% or 4 cents to $35.37 after the home improvement retailer fourth quarter revenues rose 39.4% to $3.82 billion from $2.74 billion a year ago. Net income in the quarter was $403 million or 94 cents per diluted share compared to net loss of $958 million or $2.20 per share a year ago.
Lorillard, Inc ((LO)) rose 0.3% or 26 cents to $74.50 after the cigarette maker reported fourth quarter sales rose 26.6% to $1.38 billion from $1.09 billion a year ago. Net income in the quarter fell 6% to $242 million or $1.52 per diluted share compared to net income of $258 million or $1.53 per share a year ago.
Motorola, Inc ((MOT)) increased 3.1% or 19 cents to $6.59 on the media speculation that the company’s revenues will increase after it separates its mobile phone division.
The NASDAQ OMX Group, Inc ((NDAQ)) the owner of equity exchange decreased 2.3% or 43 cents to $18.37. Fourth quarter earnings decreased 28% on lower revenues.
Priceline.com Incorporated ((PCLN)) climbed 2.7% or $5.34 to $202.30 after the online travel agency was upgraded to “positive” from “neutral” at Susquehanna Financial Group.
Quest Diagnostics Incorporated ((DGX)) fell 1.5% or 85 cents to $54.74 after the provider of medical diagnostic estimated 2010 revenue growth between 3% an 4%, operating income to approach 19% of revenues, and diluted earnings per share of between $4.10 and $4.30.
Voltaire Ltd ((VOLT)) rose 0.3% or 2 cents to $6.72 after the provider of scale-out data center fabrics reported fourth quarter revenues rose 32% to $17.4 million from $13.2 million a year ago. Net loss in the quarter was $468,000 or 2 cents per diluted share compared to net loss of $2.4 million or 12 cents per share a year ago.
The Walt Disney Company ((DIS)) rose 0.8% or 26 cents to $29.80 after the media company was upgraded to “neutral” from “underweight at JPMorgan Chase & Co.
Weyerhaeuser Company ((WY)) advanced 1.4% or 57 cents to $40.02 after the lumber producer was upgraded to “neutral” from “underperform” at Credit Suisse Group AG.
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