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Market Update

U.S. Movers: CareFusion, NRG Energy, Nvidia, Priceline, Progressive


Author: Mukesh Buch
ticker.com
Last Update: 11:03 AM ET August 09 2013

10:55 AM New York CareFusion sales dropped but net climbed 14%. NRG Energy net plunged 48% and Nvidia net declined 19%. Priceline.com profit soared 24% as revenue surged 27%. Progressive net soared to 174%.

BlackBerry Limited (BBRY) surged 7% or 65 cents to $9.88 on rumors that the company may go private.

Brookfield Asset Management Inc. (BAM) slid 3 cents to $37.33 after the Canada-based asset manager said total revenue in the second quarter ending in June climbed 17% to $5.17 billion. Net income in the quarter surged 112% to $802 million or 31 cents a diluted share compared to $379 million or 17 cents.

CareFusion Corporation (CFN) slipped 21 cents to $37.11 after the medical technology company reported total revenue in the fourth quarter ending in June dropped 6% to $903 million. Net income in the quarter climbed 14% to $109 million or 49 cents a diluted share compared to $96 million or 43 cents.

The company added operating income jumped 10% to $170 million and gross margin fell 2% to $467 million.

J. C. Penney Company, Inc. (JCP) declined 3.7% or 51 cents to $13.15 after activist shareholder of department store chain Bill Ackman pressured the retailer to appoint a permanent chief executive in the next 30 to 45 days.

NRG Energy, Inc. (NRG) fell 16 cents to $26.74 after the electric utility stated total operating revenue in the second quarter ending in June surged 35% to $2.93 billion. Net income in the quarter plunged 48% to $130 million or 39 cents a diluted share compared to $251 million or $1.08.

Nvidia Corporation (NVDA) dropped 1.9% or 28 cents to $14.42 after the graphics chips maker said total revenue in the second quarter ending in June declined 6% to $977.2 million. Net income in the quarter declined 19% to $96.4 million or 16 cents a diluted share compared to $119 million or 19 cents.

Priceline Com Incorporated (PCLN) climbed 5.2% or $48.51 to $982.26 after the online travel company stated net sales in the second quarter ending in June surged 27% to $1.68 billion. Net income in the quarter soared 24% to $437.3 million or 46 cents a diluted share compared to $352.3 million or 62 cents.

Gross profit in the second quarter jumped 38% to $1.38 billion and operating income climbed 21% to $554.8 million.

For the third, the company expects GAAP diluted earnings per share between $13.75 and $14.75 and GAAP net income increase approx $273 million.

The Progressive Corporation (PGR) rose 6 cents to $25.72 after the insurance company said revenues in the second quarter ending in June surged 26% to $4.28 billion. Net income in the quarter soared to 174% to $324.6 million or 54 cents a diluted share compared to $118.6 million or 19 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