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Market Update

CNA, Dick’ Sporting, Hasbro Rise, McDonald's Global Sales Advance


Author: Mukesh Buch
ticker.com
Last Update: 12:05 PM ET February 10 2014

12:00 PM New York – CNA Financial net swung to a profit after sales jumped 4%. Dick’s Sporting rose on revised fiscal outlook. Hasbro net declined 10% on flat sales. Loews said loss in the quarter widened. McDonald''s global sales rose but U.S. sales dropped.]

CNA Financial Corp (CNA) climbed 6% or $2.38 to $42.05 after the insurance company said net written premiums in the fourth-quarter ending in December jumped 4.3% to $1.68 billion.

Net in the quarter swung to a profit of $221 million or 82 cents a diluted share compared to a loss of $9 million or 3 cents.

Dick’s Sporting Goods Inc (DKS) jumped 2.8% or $1.44 to $52.54 after the sports and fitness goods retailer said fourth-quarter sales are ahead of expectations and same-store sales jumped 7%, ahead of company''s estimate between 3% and 4% increase.

Dick''s raised quarterly earnings per share forecast in the range between $1.10 and $1.11 from earlier estimate range between $1.04 and $1.07.

For fiscal 2014, the company expects per-share earnings in the range of $3.03 to $3.08 from the earlier estimate between $2.68 and $2.69.

Hasbro, Inc (HAS) soared 6.2% or $3.07 to $53.16 after the entertainment products provider reported revenue in the fourth-quarter ending in December $1.28 billion, flat from a year ago.

Net earnings in the quarter declined 10% to $129.8 million or 98 cents a diluted share compared to $130.3 million or 99 cents.

Loews Corporation (L) declined 4.4% or $2.01 to $43.17 after the property and casualty insurance provider reported revenues in the fourth-quarter ending in December climbed 4.6% to $3.88 billion.

Net loss in the quarter widened to $198 million or 51 cents a diluted share compared to $32 million or 8 cents.

LinkedIn Corp (LNKD) fell 28 cents to $209.31 after the professional network services provider agreed to acquire Bright, a San Francisco-based data-driven job search startup for $120 million. The acquisition is expected to close during the first quarter of this year.

McDonald''s Corporation (MCD) fell 1% or $1.01 to $94.91 after the fast food restaurants operator said global comparable sales in January increased 1.2% but U.S. comparable sales dropped 3.3%.

Comparable sales in Europe jumped 2% and sales in Asia Pacific climbed 5.4% in January.

Mercury General Corporation (MCY) plunged 5.2% or $2.37 to $43.11 after the insurance company stated net premiums written in the fourth-quarter ending in December grew 2% to $668.1 million.

Net in the quarter swung to a profit $15.4 million or 28 cents a diluted share compared to a loss of $17.4 million or 32 cents.

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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