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Market Update

U.S. Movers: Cognizant, CVS Caremark, DISH Network, Emerson, Regeneron


Author: Mukesh Buch
ticker.com
Last Update: 8:12 AM ET August 06 2013

11:40 AM New York Cognizant revenue and net jumped. CVS Caremark net climbed 16%. DISH Network second quarter net swung to a loss. Emerson Electric net tumbled 75%. Regeneron Pharmaceuticals profit jumped 14%. Unum net rose 1% to $218.6 million.

Aecom Technology Corporation (ACM) plunged 13.9% or $4.91 to $30.29 after the architectural services provider reported revenue in the third quarter ending in June fell 1% to $2.08 billion. Net income in the quarter rose 2% to $70.6 million or 70 cents a diluted share compared to $69.4 million or 63 cents.

For the year, AECOM expects diluted earnings per share in the range of $2.30 to $2.40.

Amtrust Financial Services, Inc (AFSI) rose 9 cents to $41.62 after the property insurer stated total revenue in the second quarter ending in June surged 66% to $716.5 million. Net income in the quarter doubled to $80.1 million or $1.14 a diluted share compared to $40.4 million or 59 cents.

Cognizant Technology Solutions Corporation (CTSH) jumped 2.3% or $1.70 to $75.11 after the outsourcing service provider said revenue in the second quarter ending in June climbed 20% to $2.16 billion. Net income in the quarter jumped 19% to $300.4 million or 99 cents a diluted share compared to $251.9 million or 82 cents.

For the third quarter, the company expects revenues to be at least $2.25 billion and GAAP basis diluted earnings per share to be $1 and non-GAAP basis to be $1.09.

For the year, the company expects revenue to be up at least 19% or $8.74 billion and diluted earnings per share to nearly $3.96 and non-GAAP basis to be at least $4.32.

CVS Caremark Corporation (CVS) dropped 2.9% or $1.79 to $59.83 after the pharmacy retailer reported revenue in the second quarter ending in June rose 1.6% to $31.25 billion. Net income in the quarter climbed 16% to $1.12 billion or 91 cents a diluted share compared to $966 million or 75 cents.

Revenues in the pharmacy services segment increased 2% to $377 million and retail pharmacy Segment revenues jumped 1.9%.

Operating profit climbed 15.2% to $2 billion. Retail pharmacy same store prescription volumes increased 1.8% and retail pharmacy same store sales grew 0.8% and total same store sales rose 0.4%.

DISH Network Corporation (DISH) gained 25 cents to $44.96 after the pay-television provider reported sales in the second quarter ending in June increased 1% to $3.6 billion. Net in the quarter swung to a loss $11 million or 2 cents a diluted share compared to net profit of $226 million or 50 cents.

Emerson Electric Co. (EMR) slipped 57 cents to $61.77 after the electronics equipment maker stated sales in the second quarter ending in June fell 2% to $6.3 billion. Net income in the quarter tumbled 75% to $194 million or 27 cents a diluted share compared to $770 million or $1.04.

For the year, the company expects diluted earnings per share in the range of $3.48 to $3.55.

Regeneron Pharmaceuticals, Inc (REGN) declined 5.2% or $14.19 to $256.80 after the biopharmaceutical said total revenue in the second quarter ending in June surged 51% to $458 million. Net income in the quarter jumped 14% to $87.4 million or 79 cents a diluted share compared to $76.7 million or 70 cents.

The Washington Post Company (WPO) climbed 4.4% or $25.20 to $593.90 after the media company signed a contract to sell its newspaper publishing businesses including The Washington Post newspaper to Jeffrey P. Bezos, the founder of Amazon.com, Inc. for $250 million.

The transaction covers, The Washington Post, include the Express newspaper The Gazette, Southern Maryland, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing.

Unum Group (UNM) declined 4.3% or $1.40 to $30.95 after the insurance company sales in the second quarter ending in June were nearly flat at $2.6 billion. Net income in the quarter grew 1% to $218.6 million or 82 cents a diluted share compared to $216.4 million or 76 cents.

Zebra Technologies Corporation (ZBRA) slumped 3.1% or $1.48 to $46.64 after the printing devices maker net sales in the second quarter ending in June rose 3% to $253.2 million. Net income in the quarter edged up 0.3% to $30.6 million or 60 cents a diluted share compared to $30.7 million or 59 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