What’s Moving These Shares February 7th?
With the Dow Jones (NYSE:DIA) firmly above 12,100, the S&P 500 (NYSE:SPY) above 1320 and the Nasdaq (NASDAQ:QQQQ) above 2,790 on the 25th trading day of 2011, here is a group of stocks making moves on our radar and the reasons why:
2) Danaher Corporation (NYSE:DHR): Shares are up 3% to $49.43 per share today. This morning the stock hit a 52-week high of $50.29 per share. Danaher announced it will buy biomedical-equipment maker Beckman Coulter (NYSE:BEC) in a deal worth $6.8 billion.
3) Beckman Coulter, Inc. (NYSE:BEC): Shares are up 9.74% to $82.49 per share today on news the company is being acquired by Danaher (NYSE:DHR). Investors are seeing a significant rise is in the value of shares due to the announced offer today.
4) Loews Corporation (NYSE:L): Shares are up 4.4% to $43.22 per share today after reporting quarterly results that falling costs helped earnings rise 16% even as revenue slipped slightly. The results were higher than analysts were expecting.
5) Humana, Inc. (NYSE:HUM): Shares are down 1.78% to $59.46 per share on news of a disappointing quarter. The company’s 4th quarter earnings fell 57%. Humana said its net income fell to $107.3 million, or $.63 cents per share, for the three months ended Dec. 31, down from $250.7 million, or $1.48 per share, a year earlier. Meanwhile, revenue rose 9.4 percent to $8.35 billion, not enough to satisfy shareholders.
6) SYSCO Corporation (NYSE:SYY): The stock is down over 6% to $28.05 per share today following its quarterly earnings report. Net income dropped 4% on higher food and fuel costs. The company reported that it earned $258.2 million, or $.44 cents a share, for the quarter ended Jan. 1. That’s down from $268.3 million, or $.45 cents per share, in the same quarter a year earlier. Meanwhile, revenue rose nearly 6 percent to $9.38 billion.
7) Lorillard Inc (NYSE:LO): The third largest tobacco company in the U.S. said it earned $259 million, or $1.74 per share, for the period ended Dec. 31, compared with $242 million, or $1.52 per share, a year earlier.
8) ENSCO PLC (NYSE:ESV): Shares are down 4.5% to $51.91 per share today following the acquisition buyout offer of Pride International (NYSE:PDE). Generally, the company doing the buying of the other company sees a short-term decline in their stock price. However, successful acquisitions that are integrating smoothly can yield long-term shareholder value. Time will tell how this deal unfolds for investors…
9) Cognizant Technology Solutions (NASDAQ:CTSH): This Wall St. Cheat Sheet Premium Selection is flat today at $75 per share. The company sees a strong 2011 and plans to invest $500 million in the expansion of its India operations. Q4 revenue was up 45%, year over year, and up 8%, quarter to quarter, at $1.31 billion, ahead of the average $1.28 billion estimate. Earnings of $.66 cents was better than expected.
10) AOL, Inc. (NYSE:AOL): The major media news hitting headlines today is a revival of readership coming from AOL after announcing the acquisition of The Huffington Post. For the latest breakdown, read more here…
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