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Market Update

Berkshire Net Soars 41%; CAN and Loews Struggle with Revenues


Author: Mukesh Buch
ticker.com
Last Update: 12:30 PM ET August 04 2014

12:15 PM New York BroadSoft profit plunged 43%. Cardinal Health net swung to a profit but revenue declined 10%. CNA Financial net soared 38%. Loews net tumbled 57%. L.B. Foster net climbed 6% on 11% increase of revenue.

Tollbooth Index gained 0.3% or 24.59 to 9,297.53.

Earnings Review

Alexander''s, Inc (ALX) fell $3.31 to $363.45 after the real estate developer said revenue in the second-quarter ending in June jumped 5.7% to $50 million from a year ago period.

Net income in the quarter climbed 5.8% to $16.8 million or $3.29 a diluted share compared to $13.1 million or $2.57 from a same quarter last year.

Alere Inc (ALR) tumbled 11.1% or $4.45 to $35.50 after the diagnostics service provider reported revenue in the second-quarter ending in June dropped 3.4% to $737.9 million from a year ago period.

Net loss in the quarter narrowed to $55 million or 67 cents a diluted share compared to $65.9 million or 81 cents from a same quarter last year.

Berkshire Hathaway Inc ((BRK.A)) jumped 1.9% or $3,670 to $192,949 after the insurance company said total revenue in the second-quarter ending in June climbed 11.3% to $49.76 billion from a year ago period.

Net income in the quarter surged 40.9% to $3.89 billion compared to $2.76 billion from a same quarter last year.

BroadSoft Inc (BSFT) surged 8.3% or $1.98 to $25.70 after the communication software services provider said revenue in the second-quarter ending in June soared 19% to $52.5 million from a year ago period.

Net income in the quarter plunged 43.3% to $1.7 million or 6 cents a diluted share compared to $3 million or 11 cents from a same quarter last year.

Cardinal Health Inc (CAH) dropped 3.7% or $2.71 to $69.65 after the healthcare service provider reported revenue in the fourth-quarter ending in June declined 10% to $22.9 billion from a year ago period.

Net in the quarter swung to a profit $234 million or 68 cents a diluted share compared to a loss of $586 million or $1.72 from a same quarter last year.

CNA Financial Corp (CNA) decreased 25 cents to $37.81 after the insurance company said revenue in the second-quarter ending in June slumped 4% to $1.65 billion from a year ago period.

Net income in the quarter soared 37.6% to $267 million or 98 cents a diluted share compared to $194 million or 72 cents from a same quarter last year.

Loews Corporation (L) fell 22 cents to $42.03 after the property and insurance conglomerate reported total revenue in the second-quarter ending in June slid 0.5% to $3.59 billion from a year ago period.

Net income in the quarter tumbled 56.9% to $116 million or 30 cents a diluted share compared to $269 million or 69 cents from a same quarter last year.

L.B. Foster Company (FSTR) slipped 33 cents to $46.57 after the rail products maker stated net sales in the second-quarter ending in June climbed 11.3% to $166.8 million from a year ago period.

Net income in the quarter climbed 5.8% to $6.86 million or 67 cents a diluted share compared to $7.29 million or 71 cents from a same quarter last year.

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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