EPR, LYV, TKTM, AIG, SDTH, FLR, ERTS, MR, TLCR Popular Stocks
U.S. stocks were mixed Tuesday as the Dow Jones Industrial Average rose 0.15% to 10243, the S&P 500 lost 0.04% to 1094 but the Nasdaq Composite fell 0.05% to 2153.
Entertainment Properties Trust (NYSE:EPR, $31.29, -$2.37, -7.04%), a real-estate investment trust, said it plans to offer 4.5 million shares of stock, diluting shares outstanding by about 12%. The real estate investment trust said it will use the proceeds for general corporate purposes, including acquisitions, development of properties or paying down debt.
Live Nation Inc.’s (NYSE:LYV, $7.82, +$0.50, 6.83%) third-quarter profit dropped while Ticketmaster Entertainment Inc.’s (NASDAQ:TKTM, $11.24, +$0.52, 4.85%) rose, and the ticket and concert promoter companies said they expect their merger to be completed in the first quarter.
Moody’s Investors Service said American International Group Inc. (NYSE:AIG, $38.24, +$2.06, 5.69%) should be able to repay the federal government’s senior secured loan and much or all of its preferred stock stake, assuming the giant insurer’s operations and the global financial markets stabilize further.
ShendgaTech Inc. (NASDAQ:SDTH, $5.80, -$0.85, -12.78%), a maker of specialty additives and chemicals, missed Wall Street’s expectations for third-quarter per-share earnings by a penny, reporting 9 cents when Wall Street was looking for 10 cents.
Fluor Corp.’s (NYSE:FLR, $44.29, -$3.72, -7.75%) third-quarter profit slid 11%, falling short of analysts’ estimates, as weakness in the oil-and-gas segment offset earnings growth in most of the company’s other divisions. The engineering and construction company, which works in the oil and gas sector, also lowered its earnings view for the year.
Electronic Arts Inc.’s (NASDAQ:ERTS, $18.26, -$1.27, -6.48%) fiscal second-quarter loss widened as the market for video games remained weak, prompting a fiscal-year outlook for earnings and revenue that missed expectations. The video-game company also will cut 1,500 jobs, of about 9,000, in a restructuring aimed at trimming at least $100 million in costs.
Mindray Medical International Ltd.’s (NYSE:MR, $32.08, -$2.01, -5.90%) third-quarter profit jumped 55% on higher sales and margins, and the medical-device maker raised its 2009 forecast. Still, revenue didn’t increase as much as Wall Street expected.
A wave of bullish notes on Talecris Biotherapeutics Holdings Corp. (NASDAQ:TLCR, $22.33, +$1.57, 7.56%) on Tuesday pushed the stock to its highest point since the company went public last month. Several of the analysts said the biopharmaceutical company has significant opportunity to expand its margins.
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