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Market Update : 
Hartford, Met Life, Washington Post Drop
Author: Mayank Mehta
123jump.com
Last Update: 12:35 PM ET May 01 2009


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MasterCard Incorporated (MA) declined 4.6% or $8.51 to $174.94 after the global payment solutions company reported first quarter revenues fell 1.7% to $1.16 billion from $1.18 billion a year ago. Net income in the quarter fell 18% to $367.2 million or $2.80 per diluted share compared to net income of $446.9 million or $3.37 per share a year ago.

The Manitowoc Company, Inc (MTW) rose 14.6% or $1.22 to $7.20 after a multi-industry reported a first quarter loss of $656.3 million or $5.04 per share but the stock rose after the adjusted net was 18 cents beating the expectations of the market.

MetLife, Inc (MET) plunged 3.7% or $1.12 to $28.63 after the provider of insurance and other financial services said first quarter sales fell 12% $10.2 billion from $11.6 billion a year ago. Net loss in the quarter was $574 million or 71 cents per diluted share compared to net income of $615 million or 84 cents per share a year ago.

Marsh & McLennan Companies, Inc (MMC) a global professional services firm providing advice and solutions in the areas of risk management lost 6.3% or $1.33 to $19.76.

PPL Corporation (PPL) surged 3.5% or $1.05 to $30.96 after the electricity generator reported first quarter revenues rose 55% to $2.36 billion from $1.53 billion a year ago. Net income in the quarter fell 7.3% to $241 million or 64 cents per diluted share compared to net income of $260 million or 69 cents per share a year ago.

PerkinElmer, Inc (PKI) climbed 14.1% or $2.06 to $16.63 after the health and industrial sciences company reported quarterly sales declined to $431 million from $458 million and net income fell from $10.5 million from $20.13 million. Earnings per share declined to 9 cents from 17 cents.

QLogic Corporation (QLGC) dropped 3.2% or 46 cents to $13.72 after the network-equipment maker said fourth quarter revenues fell 18% $130.5 million from $159.7 million a year ago. Net income in the quarter fell 16% to $19.2 million or 16 cents per diluted share compared to net income of $22.8 million or 17 cents per share a year ago.

The Washington Post Company (WPO) declined 9.1% or $49.47 to $369.16 after the diversified education and media publisher reported a loss for the first quarter on hefty impairment and restructuring costs and a 33% decline in ad sales at its namesake newspaper.


$396.65
0.13%
$20.23
1.66%
$12.86
-0.08%
$9.50
3.26%
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