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Market Update

Agrium, DISH, Priceline.com Rise; Donaldson, Echostar, HP Fall


Author: Mukesh Buch
ticker.com
Last Update: 11:49 AM ET February 21 2014

11:40 AM New York Agrium net tumbled 72%. DISH net climbed 38% and revenue jumped 7%. Donaldson profit soared 15%. Ecolab net surged 24%. HP net soared 16%. Priceline.com profit surged 31%.

Agrium Inc (AGU) increased 2.4% or $2.13 to $90.96 after the agricultural products maker said sales in the fourth-quarter ending in December dropped 7% to $2.87 billion.

Net income in the quarter tumbled 72% to $99 million or 66 cents a diluted share compared to $354 million or $2.34.

The company said whole sale sales in the quarter declined 24% to $963 million and retail sales jumped 6% to $2.1billion.

DISH Network Corp (DISH) gained 1.9% or $1.09 to $58.16 after the pay-television service provider reported total revenue in the fourth-quarter ending in December jumped 6.6% to $3.54 billion.

Net income in the quarter climbed 37.7% to $288 million or 63 cents a diluted share compared to $209.1 million or 46 cents.

For the full year, Dish activated about 2.666 million gross new pay-TV subscribers, decline from 2.739 million in 2012. Dish ended 2013 with approximately 14.057 million pay-TV subscribers and added approx 253,000 net broadband subscribers in 2013.

The company said average monthly revenue per subscriber for the Pay-TV increased to $80.37 from $76.98 a year earlier.

Donaldson Company, Inc (DCI) declined 4.5% or $1.94 to $40.72 after the purification systems maker said revenue in the second-quarter ending in January fell 2% to $582 million.

Net earnings in the quarter soared 15% to $58 million or 39 cents a diluted share compared to $51 million or 34 cents.

For the year, the company expects sales to be between $2.45 billion and $2.55 billion, an increase of 1% to 5% and earnings per share in the range of $1.65 to $1.85.

Ecolab Inc (ECL) rose 42 cents to $102.29 after the sanitizing products maker reported net sales in the fourth-quarter ending in December soared 17% to $3.56 billion.

Net income in the quarter surged 24% to $287.1 million or 93 cents a diluted share compared to $231.4 million or 77 cents.

Ecolab expects adjusted earnings per share for the year in the range of $4.10 to $4.20 range, representing increase between 16% and 19% a year ago period.

Echostar Corporation (SATS) plunged 6.7% or $3.23 to $44.68 after the set-top boxes maker stated total revenue in the fourth-quarter ending in December grew 2.8% to $808 million.

Net income in the quarter surged 24% to $4.5 million or 5 cents a diluted share compared to $26.2 million or 28 cents.

Hewlett-Packard Company (HPQ) slipped 1.5% or 45 cents to $29.74 after the PC maker stated revenue in the first-quarter ending in January slid 1% to $28.2 billion.

Net earnings in the quarter soared 16% to $1.4 billion or 74 cents a diluted share compared to $1.2 billion or 63 cents.

The company added revenue from the personal systems segment climbed 4% and printing revenue fell 2%. Revenue in the enterprise services business declined 7% and revenue from the software segment dropped 4%.

HP forecasted diluted earnings per share in the second-quarter in the range of 62 cents to 65 cents and for the year diluted earnings per share between $2.85 and $3.

Priceline.com Inc (PCLN) jumped 3.6% or $46.67 to $1,329 after the online travel company reported total revenue in the fourth-quarter ending in December climbed 29.4% to $1.54 billion.

Net income in the quarter surged 30.9% to $378.08 million or $7.14 a diluted share compared to $288.7 million or $5.63.

The travel company revised and corrected its mobile bookings growth from 260% to 160% and said total transaction value of mobile accommodation bookings in 2013 more than doubled to $8 billion from above $3 billion in 2012.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc