Wednesday Market Movers
As the S&P 500 Index traded approximately 0.1 percent higher Wednesday, the following three stocks saw significant price increases.
Dean Foods Company (NYSE: DF): Dean Foods traded up after the company reported strong second-quarter earnings on Tuesday. The company posted earnings of $0.30 per share on revenue of $3.1 billion, down from $3.3 billion a year before. The second-quarter revenue decline was due to a reduction in commodity costs, according to the company. Dean also announced Tuesday that The WhiteWave Foods Company, a full subsidiary of Dean Foods, filed a registration for an IPO.
Gregg Engles, Chairman and CEO, stated, "We continued to build on our momentum in the second quarter, delivering strong growth across all of our operating segments. In addition to each of our businesses executing well against their stated plans, we also continued to benefit from disciplined expense control across the organization."
Dean Foods traded up about 37 percent on Wednesday.
SkyWest (NASDAQ: SKYW): SkyWest traded up after reporting strong second-quarter earnings. The airline company posted earnings of $0.33 per share and revenues of $937.2 million. On average, analyst estimated that the company would report earnings of $0.14 per share on revenues of $940.99 million. The company saw improved result that reflected the cost reduction program that the company implemented during 2011.
Jerry C. Atkin, SkyWest's Chairman and CEO, said, "We are very pleased with the significantly improved results, quarter over quarter, and especially pleased to report a net profit." He continued, "Our cost reduction efforts are ongoing and we see additional results of these efforts from the quarter ended June 30, 2012 that are resulting in lower crew and maintenance costs."
SkyWest traded up about 23.5 percent on Wednesday.
Gulfport Energy (NASDAQ: GPOR): Gulfport Energy traded up on Wednesday after the oil and natural gas company reported second-quarter revenue that beat analyst expectations and earnings per share that missed analyst expectations. The company reported earnings of $0.45 per share on revenues of $66.3 million and experienced a 17 percent year-over-year increase in oil and gas production.
Gulfport Energy Corp traded up about 17 percent on Wednesday.
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