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Market Update

U.S. Movers: Boardwalk, CAN, Chrysler, Conceptus, Loews, Sina


Author: Mukesh Buch
ticker.com
Last Update: 11:29 AM ET April 29 2013

11:25 AM New York – Boardwalk first quarter net climbed 10%. Chrysler first quarter net tumbled 65% on retooling costs. Conceptus agreed to be acquired by Germany based Bayer HealthCare for $1.1 billion. Loews net plunged 34%. Sina surged.

Boardwalk Pipeline Partners, LP (BWP) rose 13 cents to $30.35 after the natural gas pipeline and storage reported total revenue in the first quarter ending in March surged 5% to $328.5 million. Net income in the quarter climbed 10% to $101.4 million or 42 cents a diluted share compared to $92.6 million or 43 cents.

CNA Financial Corporation (CAN) slid 32 cents to $33.07 after the holding company stated net written premiums in the first quarter ending in March jumped 11% to $1.78 billion. Net income in the quarter flat at $250 million and diluted earnings per share was flat at 93 cents.

Chrysler Group LLC, the auto maker reported net revenue in the first quarter ending in March dropped 6% to $16.4 billion. Net income in the quarter tumbled 65% to $166 million compared to $473 million a year ago period.

The company said revised operating profit in the first quarter declined $435 million from $740 million a year earlier.

Chrysler confirmed its annual guidance and estimated worldwide shipments of 2.6 million to 2.7 million and net revenue between of $72 billion and $75 billion.

Conceptus, Inc. (CPTS) surged 19.4% or $5.04 to $30.94 after the women’s healthcare company agreed to be acquired by Germany based Bayer HealthCare LLC for approx. $1.1 billion or $31 per share in cash.

Transaction is subject to particularly in anti-trust approval in the U.S. and is expected by mid-year of this year.

Energen Corporation (EGN) jumped 3.2% or $1.49 to $47.29 after the energy holding company said total revenues in the first quarter ending in March climbed 18% to $492.7 million. Net income in the quarter decreased 1% to $56.7 million or 78 cents a diluted share compared to $57.4 million or 79 cents.

For the year, Energen expects net income remains unchanged and diluted earnings per share in the range of $3.34 to $3.74.

Health Net, Inc. (HNT) climbed 6.6% or $1.88 to $30.03 after the health care service provider said total revenues in the first quarter ending in March slid 1% to $2.80 billion. Net income in the quarter swung to $50.1 million or 62 cents a diluted share compared to net loss of $26.6 million or 32 cents.

Health Net lifted its full year earnings per diluted share guidance in the range of $2.20 to $2.30.

Loews Corporation (L) fell 19 cents to $44.25 after the holding company reported net sales in the first quarter ending in March were flat at $3.71 billion. Net income in the quarter plunged 34% to $242 million or 62 cents a diluted share compared to $367 million or 92 cents.

Roper Industries, Inc. (ROP) slipped 2.8% or $3.49 to $119.82 after the technology products maker stated net sales in the first quarter ending in March rose 4% to $737.1 million. Net earnings in the quarter climbed 15.3% to $124.9 million or $1.25 a diluted share compared to $108.3 million or $1.09.

Roper lifted full year non-GAAP diluted earnings per share guidance range between $5.60 and $5.82 to between $5.76 and $5.94.

Sina Corporation (SINA) soared 13.4% or $6.78 to $57.08 after the China based online media company form strategic alliance between several entities including Weibo Corporation and Alibaba e-commerce platforms to connect and build relationships with Weibo users. Alibaba invested 18% stake in its Weibo microblogging service for $586 million.

UNS Energy Corporation (UNS) gained 1.2% or 64 cents to $50.76 after the said total revenues in the first quarter ending in March advanced 5% to $332.14 million. Net income in the quarter surged 75% to $11.3 million or 27 cents a diluted share compared to $6.48 million or 17 cents.

The company added operating income in the quarter jumped 16% $39.9 million.

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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