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Market Update

U.S. Movers: Apache, Dell, Dish Network, Priceline, Telus


Author: Mukesh Buch
ticker.com
Last Update: 12:49 PM ET May 10 2013

ArcelorMittal (MT) advanced 3.6% or 46 cents to $13.05 after the largest steel maker in Europe reported operating earnings declined to $1.57 billion in March quarter compared to $2.12 billion in the period a year ago.

Air Lease Corp (AL) dropped 3.8% or $1.18 to $29.40 after the aircraft leasing company reporting first quarter revenue of $192 million, lower than expected by analysts.

Apache Corporation (APA) rose 8 cents to $81.56 after the energy company reported revenues in the first quarter ending in March declined 10% to $4.08 billion. Net income in the quarter dropped 9% to $698 million or $1.76 a diluted share compared to $778 million or $2.

BCE Inc. (BCE) slid 3 cents to $47.27 after the Canada based communications service provider stated revenue in the second quarter ending in March grew 0.2% to $4.92 billion. Net earnings in the quarter advanced 7% to $566 million or 73 cents a diluted share compared to $531 million or 69 cents.

Operating revenues of the Bell increased 0.3% to $4.35 billion.

For the year, the BCE expects adjusted diluted earnings per share in the range of $2.97 to $3.03.

CareFusion Corporation (CFN) dropped 4.6% or $1.62 to $33.03 after the medical technology provider said revenue in the third quarter ending in March decreased 2% to $901 million. Net income in the quarter surged 163% to $84 million or 37 cents a diluted share compared to $32 million or 14 cents.

The company added operating income in the quarter plunged 16% to $135 million and operating margin climbed 15%.

For the year, the CareFusion expects revenue will be flat compared to $3.6 billion a year ago and adjusted diluted earnings per share from continuing operations between $2.11 and $2.21.

Dell, Inc. (DELL) rose 0.7% to $13.41 after the information technology was in focus after hostile investor Carl Icahn controlled company is partnership with Seacoast plan to conduct a proxy fight for the pc maker.

DISH Network Corporation (DISH) gained 37 cents to $39.16 after the pay-television provider reported revenues in the first quarter ending in March slid 0.5% to $3.56 billion. Net income in the quarter declined 40% to $216 million or 47 cents a diluted share compared to $360 million or 80 cents.

In the first quarter the DISH added about 654,000 gross new pay-TV subscribers and net subscribers rose 36,000 and closed with 14.092, with average revenue per account was $78.54. Pay-TV subscriber churn rate increased 1.47% and the DISH also increased approx 66,000 net broadband subscribers.

EV Energy Partners, L.P (EVEP) slipped 2.3% or $1.05 to $43.80 after the oil and natural gas explorer said revenues in the first quarter ending in March declined 5% to $73.7 million. In the quarter net loss swung to $46.6 million or $1.08 a diluted share compared to net income $28.6 million or 69 cents.

Loral Space & Communications Inc (LORL) fell 23 cents to $64.35 after the satellite communication service provider reported sales in the first quarter ending in March climbed 11% to $217.5 million. In the quarter, net loss swung to $13.5 million or 44 cents a diluted share compared to net income $7.63 million or 25 cents.

Lexicon Pharmaceuticals, Inc. (LXRX) slid 1.5% or 3 cents to $1.95 after the biopharmaceutical company said operating revenues in the first quarter ending in March surgeed 20% to $360 million. Net loss in the quarter narrowed to $26 million or 5 cents a diluted share compared to $30 million or 6 cents.

Nvidia Corp (NVDA) jumped 4% or 56 cents to $14.47 after the graphic processor reported net income increased $77.9 million or 13 cents a share and sales increased 3.2% to $954.7 million.

Priceline Com Inc (PCLN) jumped 3.7% or $27.42 to $764.42 after the online traveler reported total revenue in the first quarter jumped $1.30 billion. Net income in the quarter climbed 40% to $244.3 million or $4.76 a diluted share compared to $182 million or $3.65.

The online traveler added gross profit for group in the first quarter climbed 35.8% to $1.01 billion and international operations contributed gross profit soared 45.1% to $894 million from the prior year.

Sotheby’s (BID) dropped 2.4% or 90 cents to $35.41 after the auctioneer is expected to be in focus after reporting a loss of 33 cents a share in the March quarter, wider than expected by analysts.

Telus Corporation (TU) rose 7 cents to $37 after the Canada based telecommunications services provider stated operating revenues in the first quarter ending in March advanced 5% to $2.76 billion. Net income in the quarter jumped 14% to $362 million or 56 cents a diluted share compared to $319 million or 59 cents.

Ubiquiti Networks, Inc. (UBNT) surged 23% or $3.71 to $19.82 after the communications network operator reported revenue in the third quarter ending in March declined 9% to $83.2 million. Net income in the quarter plunged 26% to $20.7 million or 23 cents a diluted share compared to $27.9 million or 30 cents.

The company said this is second consecutive quarter to achieve double-digit sequential growth in total and airMAX revenues.

The company expects fourth quarter revenues of between $90 million and $96 million and diluted earnings per share in the range of 25 cents to 28 cents.

Unilife Corporation soared 31.1% or 58 cents to $2.43 after the injectable drug maker said revenue in the fourth quarter dropped $0.7 million. Net loss in the quarter narrowed $14.1 million or 17 cents a diluted share compared to $14.9 million or 21 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