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Market Update

U.S. Movers: Comcast, Cliffs, Duke Energy, Deere & Co, Thomson Reuters


Author: Mukesh Buch
ticker.com
Last Update: 11:02 AM ET February 13 2013

10:10 AM New York Comcast fourth quarter net surged 18% and buy rest of NBC 49% stake from GE for $16.7 billion. Cliffs net to $1.62 billion loss and Duke Energy net jumped 51%. Deere & Co net surged 22%. Dean Foods net swung to profit. Thomson Reuters net swung to profit.

Comcast Corporation (CMCSA) climbed 6.1% or $2.41 to $41.38 after the communications service provider reported revenue in the fourth quarter ending in December climbed 6% to $15.94 billion from $15.04 billion in the same period of last year. Net income in the quarter surged 18% to $1.52 billion or 56 cents per diluted share compared to $1.29 billion or 47 cents a share a year ago.

The entertainment company said NBCUniversal segment revenue for the quarter jumped 4.8% to $6 billion and cable networks revenue rose 0.6% to $2.2 billion. Broadcast segment revenue soared 7.9% to $2 billion and revenue from film entertainment climbed 9% to $1.4 billion. Theme Parks segment revenue increased 4.5% to $520 million.

In the fourth quarter, combined video, high-speed internet and voice customers increased 8% to 503,000 from a year ago.

In a separate press note, the Comcast said it will acquire General Electric Co.'s entire 49% stake in the NBCUniversal joint venture for approximately $16.7 billion and will take full control of a media conglomerate including NBC network, Universal Studios etc.

The transaction is expected to close by the end of the first quarter.

Cliffs Natural Resources Inc. (CLF) plunged 17.2% or $6.32 to $30.32 after the mining company said revenue in the fourth quarter ending in December slipped 4% to $1.54 billion from $1.60 billion in the same period of last year. Net loss in the quarter swung to $1.62 billion or $11.36 per diluted share compared to net income of $185.4 million or $1.30 a share a year ago period.

Cliffs'' expects full year 2013 North American coal revenue per ton between $110 million and $115 million.

Duke Energy Corporation (DUK) rose 39 cents to $69.12 after the electric utility provider reported revenue in the fourth quarter ending in December surged 98% to $4.87 billion from $2.46 billion in the same period of last year. Net income in the quarter jumped 51% to $435 million or 62 cents per diluted share compared to $288 million or 65 cents a share a year ago earlier.

Deere & Company (DE) slipped 1.4% or $1.34 to $92.60 after the agricultural and turf equipments maker said total revenues in the first quarter ending in December soared 10% to $7.42 billion from $6.77 billion in the same period of last year. Net income in the quarter surged 22% to $649.7 million or $1.65 per diluted share compared to $532.9 million or $1.30 a share a year ago period.

Deere said net sales for the quarter of the equipment operations were $6.793 billion and operating profit of $837 million.

The company expects equipment sales to increase about 6% for fiscal 2013 and rose about 4% for the second quarter from same periods of 2012. For the full year, net income is anticipated nearly $3.3 billion.

Dean Foods Company (DF) declined 8.7% or $1.59 to $16.80 after the food and beverage company stated net sales in the fourth quarter ending in December grew 4% to $3.04 billion from $2.93 billion in the same period of last year. Net income in the quarter swung to $37 million or 20 cents per diluted share compared to net loss of $9.87 million or 5 cents a share a year ago quarter.

The company affirms to spin-off of the majority of equity interest in WhiteWave and expected to take place in May 2013.

On December 3, 2012, Dean Foods agreed to sell its Morningstar division to Saputo for $1.45 billion in gross proceeds and the transaction was closed on January 3.

Dean Foods expects adjusted diluted earnings per share for the full year between 45 cents and 55 cents and for the first quarter, earnings per share in the range of 10 cents to 15 cents.

Henry Schein, Inc. (HSIC) fell 28 cents to $90.09 after the health care products provider said net sales in the fourth quarter ending in December grew 3% to $2.41 billion from $2.34 billion in the same period of last year. Net income in the quarter jumped 7% to $112.5 million or $1.26 per diluted share compared to $104.7 million or $1.15 a share a year ago quarter.

Henry Schein said global dental sales for the quarter slipped 2.4% to $1.3 billion and animal health sales jumped 16.1% to $611.2 million. Global medical sales rose 1.1% to $402.4 million.

For 2013, the company expects diluted earnings per share in the range of $4.81 to $4.91.

Lorillard, Inc. (LO) climbed 3.9% or $1.49 to $41.21 after the cigarettes maker said net sales in the fourth quarter ending in December increased 5% to $1.70 billion from $1.62 billion in the same period of last year. Net income in the quarter slid 0.3% to $309 million or 80 cents per diluted share compared to $310 million or 77 cents a share a year ago.

Thomson Reuters Corporation (TRI) dropped 3.2% or 98 cents to $29.67 after the financial media company reported revenue in the fourth quarter ending in December dropped 4% to $3.40 billion from $3.58 billion in the same period of last year. Net income in the quarter swung to $388 million or 45 cents per diluted share compared to net loss of $2.60 billion or $3.11 a share a year ago.

WellCare Health Plans, Inc. (WCG) surged 11.4% or $6.22 to $60.20 after the healthcare service provider stated total revenues in the fourth quarter ending in December climbed 24% to $1.99 billion from $1.60 billion in the same period of last year. Net income in the quarter plunged 43% to $48.8 million or $1.11 per diluted share compared to $85.1 million or $1.96 a share a year ago period.

The company expects premium revenue for the year between $8.7 and $8.8 billion and adjusted net income per diluted share between $4.50 and $4.85.

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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