Photo: shyb via flickr
The Dow, Nasdaq and S&P 500 are basically flat right now.But there are some major movers in the markets that shouldn’t be overlooked. Here are a few.
Newell Rubbermaid (NWL): Up 12.6% — Newell announced plans to restructure its business lines to create synergies and cost savings. During its quarterly call, when it also posted earnings of $0.45, beating expectations, the company said it would layoff some 500 people.
CBRE Group (CBG): Up 12.2% — Even as real estate faces dramatic pressure, a continued pick up in the commercial market sent CBRE’s revenues up 21%, which it reported yesterday after the bell. The company beat consensus estimates handily and re-affirmed its yearly guidance.
Interpublic Group (IPG): Up 11.7% — The advertising agency reported quarterly results today, beating analysts expectations with net income of $211 million, or $0.40 a share. Part of that was driven by the company’s sale of half of its Facebook stake, but international and domestic revenue growth of 15% and 8.6%, respectively, helped too.
Advanced Micro Devices (AMD): Up 8.3% — AMD announced that notebook chip sales accelerated in the quarter, finally making some in roads against larger rival Intel. For the full quarter, AMD had profits of $110 million, or $0.15 per share, on revenue of $1.7 billion . Wells Fargo upgraded the stock on the news.
Whirlpool (WHR): Down 13.6% — The company missed earnings forecasts this morning and announced it would have to cut more than 5,000 jobs. Whirlpool also lowered full-year guidance by $3 a share.
Cablevision Systems (CVC): Down 13.3% —Cablevision’s third quarter profit fell 65% as TV subscribers continued to defect to Verizon Fios in key New York suburban markets.
Expedia (EXPE): Down 7.3% — Third quarter revenue at the travel site missed analyst expectations as airline bookings fell short. Some analysts view the slowdown, which did not impact airlines themselves, as the airline’s ability to shift sales to their own websites and away from third-party agencies. Expedia reported profits of $209.5 million, or $0.75 a share.