Photo: US Coastguard
The Dow, Nasdaq and S&P 500 have been hit hard today, with four of every five companies on the S&P 500 in the red.Good news was able to send Humana up above the pack. Take a look to see who you have stock in:
Humana (HUM): Up 7.8% — The company beat earnings consensus this morning when it reported 13% net income growth on strong Medicare Advantage enrollments. Humana’s generally conservative guidance also topped analyst expectations, sending the stock up.
ITT Corporation (ITT): Up 3.2% — ITT officially completed its split into three formal businesses this morning. Management hopes the spin-off of ITT’s water-management and defence units will allow it to focus on areas of growth.
MEMC Electronics (WFR): Down 8.9% — Equity research firm Auriga downgraded MEMC to hold this morning and cut its target price to $7.00. The wafer manufacturer will report earnings this Wednesday.
Valero Energy (VLO): Down 7.8% — Valero shares fell after Reliance Industries announced it would not make a bid on the refiner. rumours had been swirling that the Indian firm planned to take over Valero. Reuters’ Anna Driver reports that Shell is an unlikely buyer as well, leaving the company without a suitor.
First Solar (FSLR): Down 7.5% — Joining the bandwagon of downgrades, Bank of America Merrill Lynch’s Joe Osha dropped First Solar from his buy list, now assigning the firm a sell rating. ThinkEquity also lowered its price target this morning to $57. The sharp decline follows CEO Rob Gillette’s unexpected dismissal.