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Market Update

U.S. Movers: Ameren, J. C. Penney, Groupon, Priceline.com, Disney


Author: Mukesh Buch
ticker.com
Last Update: 10:31 AM ET November 09 2012

9:55 AM New York Array plans to raise $18.4 million in a secondary offering. J. C. Penney loss narrowed and comparable store sales plummeted 26.1%. Groupon third quarter loss narrowed. Priceline.com agreed to buy Kayak Software for $1.8 billion. Walt Disney fourth quarter net climbed 14%.

Alliant Energy Corporation (LNT) increased 1.4% or 61 cents to $43.38 after the public utility holding company reported revenue in the third quarter ending in September grew 2% to $887.6 million from $870.9 million in the same period of last year. Net income in the quarter jumped 24% to $150.7 million or $1.36 a diluted share compared to $122 million or $1.10 a share a year ago.

The company narrowed its fiscal earnings guidance to a revised range of $2.90 to $3.05 per share and for the fiscal 2013 between $2.95 and $3.25 per share.

Ameren Corporation (AEE) slipped 1.3% or 42 cents to $31.08 after the electric utility provider operation stated revenue in the third quarter ending in September slipped 12% to $2 billion from $2.27 billion in the same period of last year. Net income in the quarter soared 31% to $374 million or $1.54 a diluted share compared to $285 million or $1.18 a share a year ago period.

Ameren narrowed its guidance for fiscal non GAAP earnings in the range of $2.35 to $2.45 per share from prior guidance of $2.25 to $2.55.

Array BioPharma Inc. (ARRY) plunged 11.8% or 47 cents to $3.59 after the biopharmaceutical company announced proposed public offer of common stock of approximately $18 million at offering price of $3.65 per share.

Covidien Public Limited Company gained 3.4% or $1.82 to $55.18 after the Ireland based healthcare products maker said net sales in the third quarter ending in September slid 3% to $3 billion from $3.08 billion in the same period of last year. Net income in the quarter climbed 15% to $461 million or 95 cents a diluted share compared to $451 million or 92 cents a share a year ago quarter.

Enerplus Corporation (ERF) declined 10.5% or $1.59 to $13.42 after the oil and gas explorer stated revenue in the third quarter ending in September dropped 40% to $226.3 million from $378.8 million in the same period of last year. Net loss in the quarter swung to $63.5 million or 32 cents a diluted share compared to net income of $111.3 million or 62 cents a share a year ago.

Groupon, Inc. (GRPN) tumbled 23.9% or 94 cents to $2.97 after the daily deal site reported revenue in the third quarter ending in September jumped 32% to $568.6 million from $430.2 million in the same period of last year. Net loss in the quarter narrowed to $2.98 million or break even cents a diluted share compared to $54.2 million or 18 cents a share a year ago earlier.

The company said subscriber mark exceeded to 200 million and revenues climbed 81% in North American and reached an annual run rate of nearly $1.5 billion in global billings.

The Groupon expects revenue for the fourth quarter in the range of $625 million to $675 million a growth of between 27% and 37% from a year ago.

J. C. Penney Company, Inc. (JCP) declined 8.7% or $1.90 to $19.78 after the retailer said total sales in the third quarter ending in September dropped 27% to $2.93 billion from $3.99 billion in the same period of last year. Comparable store sales in the quarter plummeted 26.1% and internet sales of jcp.com declined 37.3% to $214 million from last year.

Net loss in the quarter narrowed to $123 million or 56 cents a diluted share compared to $143 million or 67 cents a share a year ago.

Priceline.com Inc. ((PCLN) slipped 1.4% or $9.12 to $618.75 after the online travel agent agreed to buy Kayak Software Corp. (KYAK) in a cash-and-stock deal that values it at $1.8 billion, 54% premium to its recent public offering price.

Penn Virginia Resource Partners, LP (PVR) dropped 5.5% or $1.29 to $22.70 after the coal and natural resource owner offer 6.5 million common shares to pay the debt.

The Walt Disney Company (DIS) slumped 5.4% or $2.71 to $47.33 after the entertainment company reported revenue in the fourth quarter ending in September grew 3% to $10.78 billion from $10.3 billion in the same period of last year. Net income in the quarter climbed 14% to $1.24 billion or 68 cents a diluted share compared to $1.09 billion or 58 cents a share a year ago.

The company added revenues for the quarter from parks and resorts jumped 9% to $3.42 billion and revenues from media network increased 2% to $4.88 billion from a year ago.

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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