CYH, GTI, KDN, MYL, RYL, WLL, AKAM Popular Stocks
U.S. stocks climbed Thursday, as the Dow Jones Industrial Average rose 1.98% to 9956, the S&P 500 gained 2.22% to 1066 and the Nasdaq Composite increased 1.89% to 2098.
Community Health Systems Inc.’s (NYSE:CYH, $33.67, +$3.08, 10.07%) third-quarter profit climbed 18% as the hospital owner continued to reap the benefits of margin expansion at the hospital level and acquisitions. The company also raised hopes with new 2009 projections.
GrafTech International Ltd.’s (NYSE:GTI, $14.26, +$1.59, 12.55%) third-quarter earnings excluding items came in at 15 cents per share, more than double the 6-cent profit analysts were expecting despite a 48% slump in sales for the manufacturer of graphite and carbon products. The company said European steel operations helped drive the beat, and raised its full-year guidance.
Kaydon Corp. (NYSE:KDN, $33.78, +$2.75, 8.86%) posted a blow-out fiscal third quarter for earnings and revenue, driven by a 90% increase in its wind energy sales. The manufacturer of custom-engineered parts also said its industrial end markets have stabilized.
Mylan Inc. (NASDAQ:MYL, $16.47, +$0.70, 4.44%) swung to a third-quarter loss due to its $121 million settlement of a Medicaid-rebate case, masking higher generic drug revenue. But core results beat Wall Street estimates, prompting Mylan to again boost its full-year earnings target.
Ryland Group Inc.’s (NYSE:RYL, $19.57, +$0.91, 4.88%) third-quarter loss narrowed as the home builder and mortgage-finance company posted fewer write-offs and valuation adjustments and orders posted a small decline.
Whiting Petroleum Corp.’s (NYSE:WLL, $59.28, +$2.90, 5.14%) third-quarter earnings fell 72% on a bigger-than-expected drop in revenue, though the oil-and-gas explorer’s total production in the period topped its forecast. The company also raised its 2009 production forecast.
Akamai Technologies Inc.’s (NASDAQ:AKAM, $22.79, +$2.63, 13.05%) third-quarter profit slipped 1.8% on falling margins as the Internet content-delivery company beat its forecasts.
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