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Market Update

U.S. Movers: AOL, DaVita, Ralph Lauren, Walt Disney, Time Warner


Author: Mukesh Buch
ticker.com
Last Update: 10:27 AM ET August 07 2013

11:40 AM New York AOL net tumbled 97%. DaVita net climbed and EOG Resources net surged. Ralph Lauren dropped 6%. Sempra Energy net soared four-fold. Walt Disney increased 1% to $1.85 billion and Time Warner net surged 74% to $771 million.

AOL Inc. (AOL) gained 2% or 74 cents to $36.92 after the web portal agreed to buy online video provider Adap TV for $322 million in cash and about $83 million in stock.

AOL today reported revenue in the second quarter ending in June rose 2% to $541.3 million and net income in the quarter tumbled 97% to $28.5 million or 35 cents a diluted share compared to $970.8 million or $10.17.

Cimarex Energy Co. (XEC) slipped 2.2% or $1.75 to $77.72 after the oil and gas explorer reported total revenue in the second quarter ending in June soared 40% to $493.8 million. Net income in the quarter doubled to $129.6 million or $1.49 a diluted share compared to $64.3 million or 74 cents.

DaVita HealthCare Partners Inc. (DVA) fell 2.2% or $2.66 to $113.68 after the dialysis services provider said total revenue in the second quarter ending in June surged 50% to $2.87 billion. Net income in the quarter soared 167% to $254.4 million or $2.37 a diluted share compared to $95.3 million or 99 cents.

For the year, DaVita expects consolidated operating income in the range of $1.83 billion to $1.93 billion.

EOG Resources, Inc (EOG) rose 1.7% or $2.65 to $155.87 after the oil and gas explorer stated revenue in the second quarter ending in June climbed 32% to $3.84 billion. Net income in the quarter surged 66.7% to $659.7 million or $2.42 a diluted share compared to $395.8 million or $1.47.

HollyFrontier Corporation (HFC) slid 34 cents to $45.55 after the petroleum refiner reported sales in the second quarter ending in June jumped 10% to $5.30 billion. Net income in the quarter plunged 48% to $257 million or $1.27 a diluted share compared to $493.5 million or $2.39.

ING U.S., Inc. (VOYA) decreased 1.6% or 50 cents to $31.57 after the investment company stated sales in the second quarter ending in June tumbled 36% to $2.14 billion. Net income in the quarter swung to a loss $82.2 million or 33 cents a diluted share compared to a profit of $634.4 million or $2.76.

Ralph Lauren Corporation (RL) plunged 6.2% or $11.69 to $177.82 after the apparel designer reported net revenue in the first quarter ending on June 29 jumped 4% to $1.7 billion. Net income in the quarter dropped 6.2% to $181 million or $1.94 a diluted share compared to $193.5 million or $2.03.

In the first quarter, the retailer said sales in wholesale segment climbed 6% to $735 million and sales in the retail segment rose 3% to $879 million. Gross profit for the first quarter of Fiscal 2014 increased 1% to $1 billion.

For the fiscal 2014, the company expects growth in consolidated net revenues between 4% and 7% and for the second quarter consolidated net revenues to increase by a low-single-digit percentage.

Sempra Energy (SRE) fell 35 cents to $87.31 after the energy company stated total revenue in the second quarter ending in June jumped 27% to $2.65 billion. Net income in the quarter soared four-fold to $245 million or 98 cents a diluted share compared to $62 million or 25 cents.

For the year, Sempra Energy expects diluted earnings per share between $4.30 and $4.60.

The Walt Disney Company (DIS) declined 2.9% or $1.97 to $65.08 after the entertainment company said total revenue in the third quarter ending on June 29 grew 4% to $11.6 billion. Net income in the quarter increased 1% to $1.85 billion or $1.01 a diluted share compared to $1.83 billion or $1.01.

In the second quarter, segment wise media networks revenue advanced 5% to $5.35 billion and parks & resorts revenue jumped 7% to $3.68 billion and studio entertainment revenue fell 2% to $1.59 billion and consumer products revenue rose 4% to $775 million and interactive revenue declined 7% to $183 million.

Time Warner Inc. (TWX) increased 1.8% or $1.15 to $65.23 after the entertainment company reported total revenue in the second quarter ending in June advanced 10% to $7.4 billion. Net income in the quarter surged 74% to $771 million or 81 cents a diluted share compared to $443 million or 42 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