Anadarko Petroleum Corp. (APC) gained 0.48 percent to $80.89. The company swung to a profit in its fourth quarter and its adjusted earnings per share were above Wall Street view. Total revenues declined from the year-ago quarter, but managed to surpass the consensus estimate.
Cigna Corp. (CI) rose nearly 3 percent to $60.00. Berkshire Hathaway, Inc. (BRKa) will reinsure the company's Run-off Guaranteed Minimum Death Benefits and Guaranteed Minimum Income Benefits businesses. Cigna will fund this transaction with an incremental $100 million of parent company cash, along with assets supporting the business and the related tax benefit.
Thor Industries Inc. (THO) rose over 4 percent to $41.50. The company reported second quarter preliminary consolidated sales that rose 24.2 percent from the year-ago quarter and topped the consensus estimate.
Yum! Brands, Inc. (YUM) declined over 5 percent to $41.50. The company's fourth quarter earnings declined 5 percent from the same period a year earlier. The company's KFC sales in the last two weeks of the quarter were significantly impacted due to consumer perceptions on poultry safety over usage of excessive levels of antibiotics in chicken. The company said it is difficult to confidently forecast its overall financial performance, given current uncertainties related to KFC sales in China. The company estimates a mid-single digit earnings per share decline in 2013 versus prior year, excluding special items.
Baidu, Inc. (BIDU) fell more than 6 percent to $100.58. The company's fourth quarter profit rose 36 percent from the year-ago quarter. Total revenues for the quarter improved 41.6 percent and were marginally above the consensus estimate. The company forecast its first quarter revenues in-line with market view.
Idenix Pharmaceuticals Inc. (IDIX) declined 3 percent to $4.59. The company noted that it has elected not to continue its clinical development program for IDX184, a nucleotide polymerase inhibitor in phase IIb testing for hepatitis C virus infection treatment, or to continue its development of IDX19368, an HCV nucleotide polymerase inhibitor, as the FDA communicated that the IDX184 and IDX19368 programs would remain on clinical hold.
by RTT Staff Writer
For comments and feedback: email@example.com