Movers & Shakers: Tuesday’s biggest gaining and declining stocks

Feb.12, 2008 in Market Outlook

3M, GM, Nordic, RIMM, Yahoo, more

By MarketWatch

Last Update: 4:36 PM ET Feb 12, 2008

SAN FRANCISCO (MarketWatch) — Shares of the following companies were among those
making notable moves in the U.S. stock market Tuesday.

Advancers

Assured Guaranty Ltd. (AGO) shares gained 6.8%. It swung to a fourth-quarter loss
of $260.1 million, or $3.77 a share, from year-ago earnings of $42.4 million, or
58 cents a share, primarily due to an unrealized mark-to-market loss on
derivatives of $297.5 million, or $4.31 a share. Adjusted earnings were 53 cents
against 56 cents. The reinsurer’s revenue rose to $101.6 million from $88.4
million.

Coca-Cola Enterprises Inc. (CCE) shares rose. It swung to fourth-quarter profit
of $158 million, or 32 cents a share, from a year-earlier loss of $1.71 billion,
or $3.59 a share, when results were hurt by a franchise-impairment charge.
Adjusted earnings were 29 cents a share against 20 cents. A Thomson Financial
survey of analysts predicted earnings of 27 cents. The Atlanta beverage
marketer’s revenue grew 11% to $5.3 billion from $4.79 billion, helped in part by
European volume growth.

Ecolab Inc. (ECL) shares moved up. It said Tuesday its fourth-quarter net income
rose 30% on the back of improving overseas sales and greater productivity at its
cleaning and sanitizing operations in the U.S. See full story.
Click for Detail

Evercore Partners Inc.’s (EVR) shares jumped 9.2%. Fourth-quarter net income fell
10% to $3.1 million, or 25 cents a share, from $3.5 million, or 69 cents, a year
earlier, due in part to higher employee-compensation costs. Excluding financing
costs, amortization and stock-based compensation, earnings were 28 cents a share
against 45 cents. The New York investment firm’s revenue increased 19% to $93.8
million from $78.9 million.

General Growth Properties Inc. (GGP) shares added 3.7%. It reported
fourth-quarter net income of $58.7 million, or 24 cents a share, compared with
$70.2 million, or 29 cents, in the year-earlier quarter. Funds from operations
fell to 64 cents a share from $1.02. The Chicago real estate investment trust’s
core funds from operations were 92 cents against 99 cents. Revenue fell to $928.7
million from $971.8 million. See full story.
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Shares of GMH Communities Trust, (GCT) the Newtown Square, Pa., provider of
housing and other solutions for college students and members of the U.S.
military, surged 56%. It said it would sell itself in two transactions for a
total of about $9.61 a share. That’s a 72% premium to the company’s closing price
Monday of $5.59.

Imax (IMAX) shares gained. It said an arbitration panel from the International
Chamber of Commerce awarded the company $9.4 million, which with interest and
costs dould rise past $11 million. The award, Imax said, stems from a dispute
with the E-City affiliate of India’s Essel Group about a plan to develop Imax
theaters in India. The panel found that E-City had breached its obligations under
the companies’ agreement, Imax said.

IndyMac Bancorp (IMB) shares gained 8.4%. It on Tuesday reported its first annual
loss in its 23-year history, leading the company to suspend its dividend on
common shares as it attempts to ride out the mortgage crunch. See full story.
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Shares of Macerich Co., (MAC) the Santa Monica, Calif., real estate investment
trust, moved higher. It reported that fourth-quarter net income fell 74% and
funds from operations rose 7%.

Shares of Marsh & McLennan Cos., (MMC) the New York insurer and management
consultant, rose. It reported fourth-quarter net income fell 62% on 8.1% higher
revenue. Earnings fell to $85 million, or 16 cents a share, from $226 million, or
40 cents, in the year-earlier period.

Shares in Molson Coors Brewing Company (TAP) rallied 9.5% on Tuesday after the
brewer reported a stronger-than-forecast 74% rise in fourth-quarter profit,
helped by a much lower tax rate and a weak U.S. dollar. See full story.
Click for Detail

Monsanto Co. (MON) shares moved up. It raised its fiscal 2008 earnings forecast
on Tuesday because of solid early demand for its corn seed products in the U.S.
and global-wide market growth for its herbicide business. See full story.
Click for Detail

Nektar Therapeutics (NKTR) shares were higher. It said it would cut 150 jobs as
it completes its transition to a drug developer from a provider of drug-delivery
services.

99 Cents Only Stores’ (NDN) shares rallied 17%. Fiscal third-quarter net income
increased to $9.5 million, or 14 cents a share, from $8.9 million, or 13 cents a
share, a year earlier. The general store company’s total sales increased to $325
million from $302.1 million. Same-store sales increased 2.9%. Analysts had
expected earnings of 11 cents a share and revenue of $328 million.

Omnicom Group Inc.’s (OMC) shares added 3.6%. Fourth-quarter net income rose 13%
to $313.9 million, or 96 cents a share, from $277.2 million, or 81 cents a share,
a year earlier. The New York marketing company said revenue increased 13% to
$3.63 billion from $3.22 billion. See full story.
Click for Detail

Qwest Communications International Inc. (Q) shares rose. It nearly doubled its
fourth-quarter profit, helped by tight cost controls and a onetime tax benefit.
See full story.
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