Family Dollar, JA Solar, Monsanto, EOG Up

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

KeyCorp led gainers in the S&P 500 index with a rise of 4.7%. Family Dollar Stores, Inc guides above estimates. AMB Property Corp to offer 12 million shares of common stock. Family Dollar net up and outlook exceeds estimates. Massey drops for the second day after an explosion that killed 25 workers.

[R]11:45 AM New York – KeyCorp led gainers in the S&P 500 index with a rise of 4.7%. Family Dollar Stores, Inc guides above estimates. AMB Property Corp to offer 12 million shares of common stock. Family Dollar net up and outlook exceeds estimates. Massey drops for the second day after an explosion that killed 25 workers.[/R]

Of the stocks in S&P 500 index, 139 increased, 352 declined and 9 were unchanged.

Massey Energy Company led the decliners in the S&P 500 index with a loss of 5.1% followed by losses in Monsanto Company of 2.4% and in Verizon Communications Inc of 2.2%, in American Tower Corporation of 1.6% and in AT&T Inc of 1.5%.

KeyCorp led gainers in the S&P 500 index with a rise of 4.7% followed by gains in Family Dollar Stores, Inc 4.0%, in Regions Financial Corporation of 3.8% and in First Solar, Inc 3.5%.

Other Movers

Allete Inc ((ALE)) the provider of energy services fell 1.1% or 40 cents to $34.37 after the Midwest energy services provider said it plans to take 12 cents a share charge in the first quarter related to healthcare costs according to a regulatory filings.

AMB Property Corporation ((AMB)) fell 2.5% or 74 cents to $27.90 after the industrial real estate landlord announced it intends to offer 12 million shares of its common stock in a registered offering.

The Boeing Company ((BA)) fell 0.3% or 24 cents to $72.12 after the commercial-plane maker announced that it has completed the first maintenance training class for the 787 Dreamliner. The class consisted of 10 mechanics from 787 launch customer ANA (All Nippon Airways) and two regulators from the Japan Civil Aviation Bureau.

CKE Restaurants, Inc ((CKR)) increased 7.2% or 80 cents to $11.88 after the operator of the Carl’s Jr. and Hardee’s chains announced today that it has received an alternative takeover proposal. The restaurant operator in February accepted $619 million offer from Thomas H. Lee Partners LP.

Exeter Resource Corporation ((XRA)) the gold exploration company traded unchanged at $7.28.

EOG Resources, Inc ((EOG)) increased 4.0% or $4.44 to $101.75 after the oil and gas producer reaffirmed its total 2010 organic production growth target of 13%, 19% in 2011 and 21% in 2012.

Family Dollar Stores, Inc ((FDO)) added 4.5% or $1.71 to $39.50 after the discount retailer reported second quarter sales rose 5% to $2.09 billion from $1.99 billion a year ago. Net income in the quarter rose 33.4% to $112.2 million or 81 cents per diluted share compared to net income of $84.1 million or 60 cents per share a year ago.

Franklin Covey Co ((FC)) added 2.0% or 16 cents to $8.09 after the provider of training and consulting services said second quarter sales rose 6.3% to $31.8 million from $29.9 million a year ago. Net loss in the quarter was $381,000 or 3 cents per diluted share compared to net loss of $633,000 or 5 cents per share a year ago.

The Greenbrier Companies, Inc ((GBX)) rose 0.6% or 8 cents to $12.07 after the railroad equipment supplier reported second quarter revenues fell 30.3% to $200.0 million from $287.1 million a year ago. Net loss in the quarter was $4.4 million or 28 cents per diluted share compared to net loss of $7.8 million or 45 cents per share a year ago.

JA Solar Holdings Co., Ltd ((JASO)) surged 11.0% or 62 cents to $6.30 after the Chinese maker of solar cells and modules today announced revised shipment guidance for its first quarter ended March to exceed 265 megawatts, above the high-end of its previous guidance of 215 megawatts to 225 megawatts given on Feb. 11.

KeyCorp ((KEY)) gained 5.7% or 49 cents to $8.96 after the lender was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

Las Vegas Sands Corp ((LVS)) dropped 2.3% or 54 cents to $22.90 after the casino operator in Las Vegas, Macau and Singapore was downgraded to “neutral” from “buy” at UBS AG.

Massy Energy Co ((MEE)) declined 5% to $45.97 after losing 11% in the previous session. The company operated a coal mine in West Virginia suffered an explosion that killed 25 people and four miners are still missing. Massey has received at least 500 safety violations from regulators in the last ten years.

Monsanto Company ((MON)) dropped 4.1% or $2.88 to $66.92 after the seed maker reported second quarter sales fell 3.7% to $3.89 billion from $4.04 billion a year ago. Net income in the quarter fell 18.6% to $887 million or $1.60 per diluted share compared to net income of $1.09 billion or $1.97 per share a year ago.

MSC Industrial Direct Co. Inc ((MSM)) traded unchanged at 53.20 after the industrial supply company reported second quarter sales rose 12.4% to $395.5 million from $351.9 million a year ago. Net income in the quarter rose 16.3% to $30.6 million or 48 cents per diluted share compared to net income of $26.3 million or 42 cents per share a year ago.

Netflix, Inc ((NFLX)) dropped 2.8% or $2.38 to $81.00 after the mail-order movie-rental service was downgraded to “equalweight” from “overweight” at Barclays Capital.

Tractor Supply Company ((TSCO)) surged 10% or $6.19 to $67.66 after the operator of farm-equipment stores sales for the first quarter increased 9.3% to $710.9 million from $650.2 million a year ago. Same-store sales increased 2.8% compared with a same-store sales increase of 4.2% a year ago.