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Market Update

U.S. Movers: B/E Aerospace, Caterpillar, Halliburton, Hasbro, Netflix


Author: Mukesh Buch
ticker.com
Last Update: 11:37 AM ET April 22 2013

11:25 AM New York BE Aerospace first quarter net soared 31% and Caterpillar net plunged 45%. Halliburton net swung to $18 million loss and Hasbro first quarter loss widened. Netflix surged after net swung to profit and added more than estimated net new subscribers.

B/E Aerospace, Inc. (BEAV) jumped 3.4% or $2 to $60.88 after the aerospace products maker reported revenue in the first quarter ending in March surged 13% to $842.2 million. Net earnings in the quarter soared 31% to $89.9 million or 87 cents a diluted share compared to $68.8 million or 67 cents.

Commercial aircraft and consumable management and business jet sales increased 12% to $420 million and 14% to $326.7 million and 11% to $95.5 respectively.

The company added operating earnings in the quarter advanced 18% to $153.6 million.

For the year, the company expects 2013 diluted earnings per share to increase 22% to $3.45.

Bank of Hawaii Corporation (BOH) dropped 3.1% or $1.53 to $46.55 after the holding company stated revenue in the first quarter ending in March declined 9% to $88.6 million. Net income in the quarter dropped 18% to $36 million or 81 cents a diluted share compared to $44 million or 95 cents.

Caterpillar Inc. (CAT) gained 2.8% or $2.28 to $82.71 after the engine maker said revenue in the first quarter ending in March tumbled 17% to $13.2 billion. Net earnings in the quarter plunged 45% to $880 million or $1.31 a diluted share compared to $1.59 billion or $2.37.

For the year, Caterpillar expects sales and revenues in the range of $57 billion to $61 billion.

Halliburton Company (HAL) climbed 5.5% or $2.08 to $39.29 after the oilfield service provider stated total revenue in the first quarter ending in March rose 1.5% to $6.97 billion. In the quarter net loss swung to $18 million or 2 cents a diluted share compared to net income of $627 million or 68 cents.

Hasbro, Inc. (HAS) increased 3.4% or $1.53 to $46.55 after the entertainment company reported net revenue in the first quarter ending in March rose 2% to $663.7 million. Net loss in the quarter widened to $6.67 million or 5 cents a diluted share compared to $2.58 million or 2 cents.

Revenue in the games segment surged 26% $230.9 million and U.S. and Canada segment net revenues increased 4% to $342.1 million.

Lennox International Inc (LII) rose 39 cents to $62.22 after the climate control solution provider said revenue in the first quarter ending in March jumped 9% to $668 million. Net income in the quarter swung to $8 million or 16 cents a diluted share compared to net loss of $6.1 million or 12 cents.

Residential heating & cooling business segment revenue soared 15% to $315 million and commercial heating & cooling revenue advanced 4% to $163 million. Refrigeration business segment revenue rose 3% to $191 million.

The company lifted revenue guidance for the fiscal 2013 revenue from 2% to 6% to a range of 3% to 6% but earnings per share from continuing operations in the range of $3.15 to $3.55.

Netflix, Inc. (NFLX) surged 6.7% or $11 to $174.37 after the subscription television service provider reported net revenue in the first quarter ending in March soared 17.7% to $1.02 billion. In the quarter net income swung to $2.69 million or 5 cents a diluted share compared to net loss of $5.58 million or 8 cents.

The company said U.S. subscribers added new customers for the first quarter above 2 million and international subscribers gained to 1.02 million and reached to 7.14 million.

The company expects net income for the second quarter between $14 million and $29 million and earnings per share in the range of 23 cents to 48 cents. Revenue for the second quarter is expected between $665 million and $673 million.

Shares after the trading surged 22.7% $214.05.

Six Flags Entertainment Corporation (SIX) soared 8.2% or $5.86 to $77.11 after the theme parks operator stated total revenue in the first quarter ending in March rose 1.5% to $87.5 million. Net loss in the quarter narrowed to $62.5 million or $1.23 a diluted share compared to $115.1 million or $2.11.

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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