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Market Update

DaVita, Owens Corning, Tripadvisor, Valspar Jump; Lorillard, Reuters Drop


Author: Mukesh Buch
ticker.com
Last Update: 11:13 AM ET February 12 2014

11:10 AM New York Deere & Co net rose 5%. DaVita net and sales climbed. Hospira profit surged. Lorillard declined 5%. Owens Corning net swung to profit on 10% rise in sales. Thomson Reuters net swung to a loss as revenue dropped. Valspar net fell 3% but sales soared 9%.

Deere & Company (DE) slipped 1% or 78 cents to $86.68 after the agricultural equipments maker reported revenue in the first-quarter ending in January grew 3% to $7.65 billion.

Net income in the quarter jumped 5% to $681 million or $1.81 a diluted share compared to $650 million or $1.65.

The company forecasted equipment sales for fiscal 2014 to fall about 3% and for the second-quarter to drop approx 6% compared to the same periods of 2013.

For the year, net income is anticipated at $3.3 billion.

DaVita HealthCare Partners Inc. (DVA) climbed 6.4% or $4.07 to $68.44 after the healthcare company reported total revenues in the fourth-quarter ending in December surged 24% to $3.1 billion.

Net income in the quarter soared 36% to $212.3 million or $1.01 a diluted share compared to $155.8 million or 77 cents.

Hospira, Inc (HSP) gained 1.5% or 67 cents to $44.90 after the generic drug maker said net sales in the fourth-quarter ending in December slid 1.3% to $1.08 billion.

Net income in the quarter surged to $33.5 million or 20 cents a diluted share compared to $5.3 million or 3 cents.

Lorillard Inc (LO) declined 5.5% or $2.75 to $47.21 after the cigarettes maker stated net sales in the fourth-quarter ending in December rose 2.3% to $1.74 billion.

Net income in the quarter declined 5.2% to $293 million or 80 cents a diluted share compared to $309 million or 80 cents.

Owens Corning (OC) surged 12.8% or $5.07 to $44.81 after the building materials supplier net sales in the fourth-quarter ending in December soared 10.3% to $1.28 billion.

Net in the quarter swung to a profit $82 million or 69 cents a diluted share compared to a loss of $56 million or 47 cents.

Thomson Reuters Corporation (TRI) declined 4.4% or $1.61 to $34.99 after the news and information service provider reported revenue in the fourth-quarter ending in December dropped 3% to $3.28 billion.

Net in the quarter swung to a loss $343 million or 43 cents a diluted share compared to a profit of $368 million or 42 cents.

Tripadvisor Inc (TRIP) soared 6.8% or $5.73 to $89.93 after the online travel review site operator said revenue in the fourth-quarter ending in December climbed 26% to $212.7 million.

Net income in the quarter plummeted 39.6% to $20.3 million or 14 cents a diluted share compared to $33.6 million or 23 cents.

The Valspar Corporation (VAL) surged 7.1% or $5.01 to $75.60 after the coating and paint maker stated net sales in the first-quarter ending on January 24 climbed 9% to $956.1 million.

Net income in the quarter dropped 2.5% to $53.6 million or 61 cents a diluted share compared to $55 million or 60 cents.

The company reaffirmed its full-year adjusted diluted earnings per share between $3.95 and $4.15.

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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