Halliburton and Kodak make big market moves

AP News
Posted: Oct 28, 2010 4:37 PM
Halliburton and Kodak make big market moves

Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:


Halliburton Co., down $2.74, at $31.68.

The oilfield services company has blamed BP for oil well disaster in the Gulf of Mexico. According to investigators, it appears tests should have raised doubts about cement used to seal the well but work went ahead anyway. That appears to conflict with statements made by Halliburton.

Las Vegas Sands Corp., up $3.57, at $44.63.

Sands, based in Las Vegas, is seeing tremendous growth in Macau and Singapore. The company reported that it earned 34 cents per share on an adjusted basis on a record $1.91 billion in revenue as its business in Asia grew.

Eastman Kodak Co., up 61 cents, at $4.58

Vigorous inkjet printer sales, lower costs and a big licensing gain from a rich array of digital-imaging inventions narrowed the photography and printing company's third-quarter loss and its adjusted results beat Wall Street estimates

Goodyear Tire & Rubber Co., down $1.05, at $10.56

The tire company was hurt by spiraling rubber expenses and reported a $20 million third-quarter loss despite solid sales increases.

Allstate Corp., down $2.05 at $30.43

The life insurer reported third-quarter earnings that fell short of Wall Street expectations. Allstate said premiums earned in the quarter slipped to $6.5 million, from $6.54 million. Auto premiums, which account for the lion's share of the company's business, slipped as retention fell.


Akamai Technologies Inc., up 72 cents, at $51.11

The provider of technology for managing Web traffic posted a 21 percent increase in third-quarter earnings and its CEO said momentum is solid as it heads into its seasonally strongest quarter of the year.

Celgene Corp., up $1.80, at $61.20

The biotech drugmaker reported that its third-quarter net income jumped 30 percent on higher sales of cancer drugs and boost its full-year guidance. Sales of its cancer drug Revlimid rose 43 percent to $641 million, while sales of the cancer drug Vidaza rose 37 percent to $141 million. Sales of Thalomid totaled $94 million.

O'Reilly Automotive Inc., up $2.72, at $57.12

The auto parts retailer said third-quarter net income rose 34 percent as sales in stores open at least a year rose 11 percent. Bad weather is good for O'Reilly because it means more car maintenance.

(This version Corrects companies and day in headlines)