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Market Update

Dean Foods Swings to Loss; CVS, Markel Jump


Author: Mukesh Buch
ticker.com
Last Update: 11:40 AM ET February 11 2014

11:35 PM New York CVS Caremark net surged 13%. Dean Foods net swung to a loss. Entergy net plummeted 50%. HCP profit jumped 13% but revenue fell 5%. IntercontinentalExchange net swung to a loss. Ingersoll-Rand net tumbled 80%. Markel profit soared 168%.

CVS Caremark Corporation (CVS) gained 2.3% or $1.51 to $68.46 after the health care provider reported net revenue in the fourth-quarter ending in December climbed 4.6% to $32.8 billion.

Net income in the quarter surged 12.5% to $1.26 billion or $1.05 a diluted share compared to $1.12 billion or 90 cents.

Retail pharmacy segment same store sales jumped 4% and pharmacy services soared 5.2% and retail pharmacy climbed 5.6%.

The company forecasted diluted earnings per share for the year in the range of $4.09 to $4.23.

Dean Foods Co (DF) plunged 9.7% or $1.47 to $13.73 after the food and beverage company stated net sales in the fourth-quarter ending in December dropped 6.5% to $2.30 billion.

Net in the quarter swung to a loss $37.7 million or 40 cents a diluted share compared to a profit of $28.1 million or 30 cents.

Entergy Corporation fell 59 cents to $62.18 after the electric utility provider stated total revenue in the fourth-quarter ending in December soared 10.7% to $2.69 billion.

Net income in the quarter plummeted 50.4% to $146.9 million or 82 cents a diluted share compared to $296.3 million or $1.66.

HCP, Inc (HCP) dropped 2.5% or 99 cents to $37.83 after the real estate developer reported revenue in the fourth-quarter ending in December slumped 5.4% to $530.3 million.

Net income in the quarter jumped 12.5% to $292.6 million or 64 cents a diluted share compared to $239.9 million or 53 cents.

IntercontinentalExchange Group, Inc. (ICE) rose 81 cents to $212.92 after the trading services provider said total revenue in the fourth-quarter ending in December soared $733 million.

Net in the quarter swung to a loss $176 million or $1.83 a diluted share compared to a profit of $130 million or $1.76.

Ingersoll-Rand Plc (IR) rose 4 cents to $59.12 after the machinery and equipment provider reported revenue in the fourth-quarter ending in December jumped 6% to $3.1 billion.

Net earnings in the quarter tumbled 79.8% to $47.6 million or 16 cents a diluted share compared to $235.6 million or 78 cents.

First-quarter 2014, revenues are expected to grow between 2% and 3% compared with 2013.

The company expects revenues for the year to increase in the range of 3% to 4% and adjusted earnings per share from continuing operations between of $3.05 and $3.20.

Markel Corporation (MKL) gained 2.3% or $12.63 to $554.88 after the specialty insurance company said total revenue in the fourth-quarter ending in December surged 58.4% to $1.28 billion.

Net income in the quarter soared 168% to $206.4 million or $6.95 a diluted share compared to $77 million or $6.23.

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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