Massey, CA, Bally Decline; Amazon Rises

123jump.com Staff
06 Apr, 2010
New York City

Massey Energy Company led the decliners in the S&P 500 index with a loss of 9.2%. Teekay Tankers Ltd announces public offering. CA Inc plans to cut 1,000 jobs. El Paso Corp receives FERC approval for Ruby Pipeline.

[R]12:30 PM New York – Massey Energy Company led the decliners in the S&P 500 index with a loss of 9.2%. Teekay Tankers Ltd announces public offering. CA Inc plans to cut 1,000 jobs. El Paso Corp receives FERC approval for Ruby Pipeline.[/R]

Of the stocks in S&P 500 index, 98 increased, 393 declined and 9 were unchanged.

Massey Energy Company led the decliners in the S&P 500 index with a loss of 9.2% followed by losses in CA, Inc of 3.8% and in Pulte Homes, Inc of 3.4%, in IntercontinentalExchange, Inc of 3.3% and in Nvidia Corporation of 3.1%.

AutoNation, Inc led gainers in the S&P 500 index with a rise of 2.6% followed by gains in Amazon.com, Inc 2.2%, in American International Group, Inc of 2.2% and in El Paso Corporation 2.1%.

Other Movers

Bally Technologies, Inc ((BYI)) fell 5.5% or $2.36 to $39.97 after the gaming-technology company signed a definitive agreement for the sale of its Rainbow Casino in Vicksburg, Miss. to Isle of Capri Casinos, Inc.

Brigham Exploration Company ((BEXP)) dropped 3.4% or 61 cents to $17.35 after the energy company commenced underwritten public offering of 13 million shares of common stock.

CA, Inc ((CA)) decreased 4.1% or $1.00 to $22.85 after the developer of software for mainframe computers said in a regulatory filing that it will cut 1,000 jobs, or 7.5% of its workforce.

The Dress Barn, Inc ((DBRN)), the apparel retailer rose 2.8% or 76 cents to $27.43.

Electro Rent Corporation. ((ELRC)) decreased 1.8% or 26 cents to $13.74 an electronic test equipment provider said third quarter revenues rose 9.6% to $33.0 million from $30.1 million a year ago. Net income in the quarter rose 16% to $2.2 million or 9 cents per diluted share compared to net income of $1.9 million or 8 cents per share a year ago.

El Paso Corporation ((EP)) rose 3.1% or 36 cents to $11.83 after the natural-gas pipeline network announced that it has received federal energy regulatory commission approval for its Ruby Pipeline project.

Gray Television, Inc ((GTN)) closed unchanged at $2.50 after the television broadcast company reported fourth quarter revenues fell 18% to $77.5 million from $94.8 million a year ago. Net loss in the quarter was $6.5 million or 13 cents per diluted share compared to net loss of $209.4 million or $4.32 per share a year ago.

KB Home ((KBH)) fell 1.5% or 26 cents to $16.73 after homebuilder that sells to first-time buyers was downgraded to “neutral” from “outperform” at Credit Suisse Group AG.

Massey Energy Company ((MEE)) fell 6.9% or $3.79 to $50.95 after the company confirmed twenty-five fatalities at its coal mine in West Virginia. Additionally, four miners are still missing at this time.

NorthWestern Corporation ((NEW)) climbed 3.5% or 97 cents to $27.97.

Rogers Corporation ((ROG)) gained 6.2% or $1.89 to $32.23 after the maker of components used by telephone, technology and defense companies announced revised guidance for its first quarter ended March 31. Rogers lifted first quarter net sales to be approximately $83 million compared to the February 18, guidance of $75 to $80 million.

Schlumberger Limited ((SLB)) rose 1.8% or $1.20 to $65.77 after the oil services company announced today that it has received a request for additional information, commonly known as a “second request,” from the Antitrust Division of the United States Department of Justice in connection with the proposed merger with Smith International, Inc.

Sinovac Biotech Ltd ((SVA)) dropped 2.5% or 15 cents to $5.78 after the vaccine manufacturer reported fourth quarter sales rose 194% to $36.4 million from $12.4 million a year ago. Net income in the quarter rose 271% to $8.9 million or 21 cents per diluted share compared to net income of $2.4 million or 6 cents per share a year ago.

Teekay Tankers Ltd ((TNK)) slipped 7.1% or 93 cents to $12.11 after the owner of crude-oil tankers announced today that it plans to offer 7 million shares of Class A common stock of the Company in a public offering.

TiVo Inc ((TIVO)) the company provider of technology and services for digital video recorders rose 3.7% or 63 cents to $17.49.