There were several noteworthy movers on the market during Wednesday’s trading day. The majority of the biggest movers were on the positive side, but the headlines are for Dean Foods Company (NYSE:DF) on the up side and Priceline.com Inc. (NASDAQ:PCLN) as the most noteworthy downer. Also featured in this update are Computer Sciences Corporation (NYSE:CSC), Gulfport Energy Corporation (NASDAQ:GPOR) and International Flavors & Fragrances Inc. (NYSE:IFF).
Dean Foods Company (NYSE:DF) has taken off first due to a good earnings report, but then later the news that the company announced an IPO for its wholly owned subsidiary The WhiteWave Foods Company. But not only that, after came word from Dean Foods Company (NYSE:DF) that it was offering to sell a 20-percent stake in The WhiteWave IPO with an IPO of its own. This is likely meant to improve cash flow and reduce debt. Shares in Dean Foods Company (NYSE:DF) are up a whopping 39 percent to about $17.35 a share.
Gulfport Energy Corporation (NASDAQ:GPOR) has spiked more than 17 percent on the day to $26.35 a share despite missing estimates in its quarterly earnings report. Why? In the aftermath of the report, Gulfport Energy Corporation (NASDAQ:GPOR) announced its first well in the Utica Shale play in Ohio, which is described by some analysts as “a monster” that could pay off huge for the company if it hits. And if it hits on one well, it very well may invest in others.
Computer Sciences Corporation (NYSE:CSC) has been a big play for investors as its stock is up nearly 16 percent to north of $29.50 a share thanks to easily beating estimates in its quarterly report. Computer Sciences Corporation (NYSE:CSC) also gave fiscal-year EPS guidance of $2.10 to $2.30, which is above a $2.04 Street consensus. Computer Sciences Corporation (NYSE:CSC) is also planning to make $1 billion in cost savings over the next 18 months. All those factors play well for investors.
International Flavors & Fragrances Inc. (NYSE:IFF) has also had a good trading day, as its stock was up 10 percent to $62.20 a share after announcing its quarterly earnings. Though the company beat EPS estimates but missed on revenue, International Flavors & Fragrances Inc. (NYSE:IFF) is up when one looks in the details. The company’s profit increased 16 percent over a year ago, while sales only increased by 1 percent (foreign exchange rates were a 3-point negative effect), with the difference offset by reducing expenses in manufacturing. Net profit EPS was $1.08, up from 93 cents a year ago.
And on the negative side of the roller-coaster today is Priceline.com Inc. (NASDAQ:PCLN), which has seen its price fall off a cliff, down nearly 17 percent to $565 a share. Why such a drop? Clues come from the company’s earnings and guidance, when CEO Daniel Finnegan said the company expects 12-20 percent growth year-over-year with revenue growth of 9-15 percent, which are far below 33 percent growth in the last quarter and a consensus revenue growth estimate of 24 percent for the year. Finnegan’s words for Priceline.com Inc. (NASDAQ:PCLN) were a lead balloon to investors on this day.