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Market Update

U.S. Movers: Alleghany, Cimarex, Directv, Fossil, Perrigo, Towers Watson


Author: Mukesh Buch
ticker.com
Last Update: 11:19 AM ET May 07 2013

11:30 AM New York – Alleghany first quarter net and Cimarex net declined 15%. Directv net slipped 6% and Fossil first quarter net soared 24%. Perrigo net fell 3% and Rosetta Resources net climbed 140%. Towers Watson jumped 40%.

Alleghany Corporation (Y) gained 77 cents to $392.56 after the insurance company reported total revenues in the first quarter ending in March climbed 16% to $1.22 billion. Net earnings in the quarter plunged 65% to $196 million or $11.67 a diluted share compared to $560.1 million or $51.06 cents.

Alexander’s, Inc. (ALX) slipped 1.3% or $4.14 to $303.33 after the real estate investment company stated total revenues in the first quarter ending in March grew 3% to $48.7 million. Net income in the quarter declined 27% to $14.2 million or $2.77 a diluted share compared to $19.5 million or $3.81.

Berry Petroleum Company (BRY) rose 16 cents to $46.57 after the energy company said revenues in the first quarter ending in March advanced 7% to $277.9 million. Net income in the quarter dropped 16% to $32.4 million or 58 cents a diluted share compared to $38.5 million or 69 cents.

Cimarex Energy Co. (XEC) increased 55 cents to $75.55 after the oil and gas explorer said stated revenues in the first quarter ending in March increased 0.7% to $426 million. Net income in the quarter declined 15% to $89.9 million or $1.04 a diluted share compared to $106.1 million or $1.23.

DirecTV (DTV) jumped 6% or $3.48 to $61.44 after the satellite-television provider reported revenues in the first quarter ending in March increased 8% to $7.58 billion. Net income in the quarter slipped 6% to $690 million or $1.20 a diluted share compared to $731 million or $1.07.

Operating profit for the quarter declined 5% to $1.24 billion.

DirecTV added revenues from the U.S. segment in the first quarter climbed 5.3% to $5.79 billion and net subscriber growth of 21,000 compared with 81,000 subscriber additions a year ago period. At the end of the quarter the company had 20.11 million subscribers in U.S.

Fossil, Inc. (FOSL) climbed 7.5% or $7.45 to $106.41 after the consumer fashion accessories distributor stated net sales in the first quarter ending in March climbed 16% to $680.9 million. Net income in the quarter soared 24% to $72.2 million or $1.21 a diluted share compared to $58.1 million or 93 cents.

Operating profit for the company advanced 14% to $11.5 million and gross profit added 15% to $378.5 million.

For the second quarter, the Fossil expects net sales increase approximately 8% to 9% and diluted earnings per share between 89 cents and 94 cents.

For the year, the company lifted net sales guidance and expects to increase between 10% and 11% and diluted earnings per share in a range of $6 to $6.26.

Perrigo Company (PRGO) dropped 3.2% or $3.85 to $114.99 after the healthcare supplier said net sales in the third quarter ending in March soared 18.2% to $919.8 million. Net income in the quarter fell 3% to $111.9 million or $1.18 a diluted share compared to $115.7 million or $1.23.

The Perrigo expects for the year diluted earnings per share between $4.67 and $4.87 and adjusted diluted earnings per share in the range of $5.53 and $5.73.

Plains All American Pipeline, L.P (PAA) gained 1% or 62 cents to $57.88 after the refined products reported revenues in the first quarter ending in March jumped 15% to $10.6 billion. Net income in the quarter surged 130% to $528 million or $1.27 a diluted share compared to $230 million or 51 cents.

Operating income for the company soared 109% to $655 million.

NRG Energy, Inc. (NRG) slid 24 cents to $27.40 after the electric power generator company said total operating revenue in the first quarter ending in March climbed 12% to $2.08 billion. Net loss in the quarter widened to $328 million or $1.02 a diluted share compared to $207 million or 92 cents.

ProAssurance Corporation (PRA) rose 46 cents to $49.64 after the holding company reported stated total revenue in the first quarter ending in March rose 8% to $195 million. Net income in the quarter soared more than doubled to $112.9 million or $1.82 a diluted share compared to $55.6 million or 90 cents.

The company added operating income in the quarter grew 8% to $60 million.

Rosetta Resources Inc. (ROSE) soared 6% or $2.63 to $45.98 after the exploration and production company stated total revenue in the first quarter ending in March surged 56% to $178 million. Net income in the quarter climbed 140% to $53.5 million or $1.01 a diluted share compared to $22.3 million or 42 cents.

Towers Watson & Co. (TW) fell 35 cents to $74.65 after the professional services company said total revenue in the third quarter ending in March increased 4% to $941 million. Net income in the quarter jumped 40% to $95 million or $1.34 a diluted share compared to $68 million or 95 cents.

For the year, the company expects revenues approximately $3.6 billion and adjusted diluted earnings per share in the range of $5.44 to $5.49.

For the fourth quarter, Towers Watson estimated revenues in the range of $870 million to $890 million and adjusted diluted earnings per share between $1.23 and $1.28.

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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