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Market Update

Caterpillar Climbs, Liberty Global Acquires Remaining Ziggo Stake


Author: Mukesh Buch
ticker.com
Last Update: 11:32 AM ET January 27 2014

11:15 AM New York AT&T said no stake offer to Vodafone for next six months. Caterpillar net soared 44% and sales climbed 10%. KKR agreed to acquire Sedgwick for approx $2.4 billion. Liberty Global acquired the remaining stake of Ziggo for $13.7 billion. Roper net climbed 15%.

AT&T Inc (T) rose 4 cents to $33.46 after the communication services provider confirmed that it does not intend to make an offer for Vodafone for a stake of 30% or more for the next six months, said on recent speculation to U.K. takeover panel.

American Electric Power Company, Inc. (AEP) increased 43 cents to $47.20 after the electric utility provider reported total revenues in the fourth-quarter ending in December advanced 7% to $3.08 billion.

Net earnings in the quarter surged to $346 million or 71 cents a diluted share compared to $21 million or 5 cents.

Caterpillar Inc. (CAT) surged 6.4% or $5.51 to $91.68 after the mining equipment maker said net sales in the first-quarter ending in December increased 10% to $14.4 billion.

Net income in the quarter soared 44% to $1.03 billion or $1.54 a diluted share compared to $647 million or $1.04.

Haemonetics Corporation (HAE) declined 4.3% or $1.73 to $38.31 after the healthcare company stated sales in the third-quarter ending in December down 2.1% to $242.1 million.

Net income in the quarter surged 64.5% to $16.3 million or 31 cents a diluted share compared to $9.9 million or 19 cents.

KKR & Co. L.P (KKR) gained 12 cents to $24.68 after the investment company agreed to acquire majority ownership of Sedgwick Claims Management Services, Inc., technology and productivity solutions provider for approx $2.4 billion.

The transaction is expected to close during the first quarter of 2014.

Liberty Global Inc, the cable TV content developer agreed to buy Netherlands-based Ziggo NV in cash and share valued at $13.7 billion.

The company also approved authorization of a $1 billion increase to its two-year $3.5 billion stock repurchase program.

Roper Industries, Inc (ROP) increased 40 cents to $136.07 after the industrial technology products maker reported revenue in the fourth-quarter jumped 10% to $889.2 million.

Net earnings in the quarter climbed 15.5% to $165.7 million or $1.65 a diluted share compared to $143.5 million or $1.44.

The company said orders in the quarter jumped 16% to $900 million.

Roper expects diluted earnings per share for the year in the range of $6.05 to $6.25 and for the first quarter between $1.30 and $1.35.

Rayonier Inc (RYN) climbed 8.6% or $3.53 to $44.71 the real estate developer stated sales in the fourth-quarter ending in December climbed 35% to $520.2 million.

Net earnings in the quarter advanced 5% to $80 million or 62 cents a diluted share compared to $76 million or 59 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