JPMorgan Chase, Intel and CSX Rise

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

W.W. Grainger, Inc led the decliners in the S&P 500 index with a loss of 3.0%. CSX Corp first quarter net rises 24% to $306 million. Intel Corp gains after it estimated higher sales in the second quarter. JPMorgan Chase first quarter net surged 55.6% on 11% rise in revenues.

[R]12:10 PM New York - W.W. Grainger, Inc led the decliners in the S&P 500 index with a loss of 3.0%. CSX Corp first quarter net rises 24% to $306 million. Intel Corp gains after it estimated higher sales in the second quarter. JPMorgan Chase first quarter net surged 55.6% on 11% rise in revenues.[/R]

Of the stocks in S&P 500 index, 324 increased, 170 declined and 6 were unchanged.

W.W. Grainger, Inc led the decliners in the S&P 500 index with a loss of 3.0% followed by losses in Philip Morris International Inc of 2.5% and in Apollo Group, Inc of 2.2%, in The Bank of New York Mellon Corporation of 1.9% and in The Goodyear Tire & Rubber Company of 1.5%.

SanDisk Corporation led gainers in the S&P 500 index with a rise of 5.9% followed by gains in Teradyne, Inc 4.9%, in Tellabs, Inc of 4.7% and in Omnicom Group Inc 4.3%.

Other Movers

Adtran, Inc. ((ADTN)) rose 0.6% or 18 cents to $27.50 after the manufacturer of communications networks said first quarter sales rose 15% to $127.0 million from $110.4 million a year ago. Net income in the quarter rose 19.7% to $18.2 million or 29 cents per diluted share compared to net income of $15.2 million or 24 cents per share a year ago.

Ameris Bancorp ((ABCB)) declined 5.1% or 50 cents to $9.14 after the finance company said first quarter net interest income rose 20% to $20.4 million from $17.0 million a year ago. Net loss in the quarter was $2.3 million or 17 cents per diluted share compared to net loss of $1.3 million or 10 cents per share a year ago.

Acergy S.A ((ACGY)) gained 3.8% or 73 cents to $19.73 after the seabed-to-surface engineering and construction contractor reported first quarter revenues rose 14.5% to $575.8 million from $503.1 million a year ago. Net income in the quarter rose 40.5% to $57.6 million or 26 cents per diluted share compared to net income of $41.0 million or 20 cents per share a year ago.

ASML Holding N.V ((ASML)) declined 1.3% or 50 cents to $35.49 after the chip equipment maker said first quarter revenues rose 304% to €741.8 million from €183.6 million a year ago. Net profit for the quarter was €107.3 million or €0.25 per diluted share compared to net loss of €117.2 million or €0.27 per share a year ago.

Century Bancorp, Inc ((CNBKA)) decreased 2.6% or 52 cents to $19.13 after the bank said first quarter net interest income rose 17.5% to $12.7 million from $10.8 million a year ago. Net income in the quarter rose 70% to $3.4 million or 62 cents per diluted share compared to net income of $2.0 million or 34 cents per share a year ago.

Cloud Peak Energy Inc ((CLD)) rose 1.2% or 20 cents to $16.75 after the mining company said coal production for the first quarter 21.7 million short tons compared to 22.7 million a year ago.

Corus Entertainment Inc ((CJR)) fell 2.8% or 56 cents to $19.23 after the media and entertainment company reported second quarter revenues rose 6% to $192.7 million from $181.4 million a year ago. Net income in the quarter fell 49.7% to $14.6 million or 18 cents per diluted share compared to net income of $29.0 million or 36 cents per share a year ago.

Cree, Inc ((CREE)) increased 4.3% or $3.34 to $82.58 after the maker of energy-efficient lighting products was upgraded to “buy” from “hold” at Morgan Joseph & Co.

CSX Corporation ((CSX)) advanced 1.2% or 67 cents to $53.95 after the railroad operator said first quarter revenues rose 11% to $2.5 billion from $2.25 billion a year ago. Net income in the quarter rose 24.4% to $306 million or 78 cents per diluted share compared to net income of $246 million or 62 cents per share a year ago.

Dendreon Corporation ((DNDN)) fell 1.3% or 30 cents to $38.83 after the company seeking U.S. regulatory approval for its prostate cancer drug Provenge was downgraded to “hold” from “buy” at Citigroup Inc.

Healthcare Services Group, Inc ((HCSG)) declined 7.9% or $1.86 to $21.46 after the provider of healthcare services said first quarter revenues rose 14.5% to $183.8 million from $160.4 million a year ago. Net income in the quarter fell 4% to $7.4 million or 17 cents per diluted share compared to net income of $7.7 million or 18 cents per share a year ago.

Hooker Furniture Corporation ((HOFT)) climbed 2.3% or 39 cents to $17.05 after the furniture maker said fourth quarter sales fell 6.7% to $52.7 million from $56.5 million a year ago. Net income in the quarter was $3.0 million or 28 cents per diluted share compared to net loss of $719,000 or 7 cents per share a year ago.

Intel Corporation ((INTC)) rose 4.4% or $1.02 to $23.79 after the semiconductor chipmaker said first quarter revenues rose 44.2% to $10.3 billion from $7.14 billion a year ago. Net income in the quarter rose 288% to $2.44 billion or 43 cents per diluted share compared to net income of $629 million or 11 cents per share a year ago.

iGATE Corporation ((IGTE)) gained 6.3% or 73 cents to $12.25 after the provider of information technology services reported first quarter revenues rose 29% to $57.9 million from $44.8 million a year ago. Net income in the quarter rose 132% to $11.6 million or 20 cents per diluted share compared to net income of $5.0 million or 9 cents per share a year ago.

JPMorgan Chase & Co ((JPM)) increased 3.3% or $1.52 to $47.39 after the finance company reported first quarter revenues rose 11% to $27.7 billion from $25 billion a year ago. Net income in the quarter rose 55.6% to $3.33 billion or 74 cents per diluted share compared to net income of $2.14 billion or 40 cents per share a year ago.

Kulicke & Soffa Industries, Inc ((KLIC)) surged 17.1% or $1.35 to $9.22 after the maker of semiconductor assembly equipment announced revenue of approximately $153 million for its second fiscal quarter, ended April 3, and revenue guidance for its June quarter of approximately $205 million.

Linear Technology Corporation ((LLTC)) increased 2.8% or 85 cents to $30.50 after the chip maker said third quarter revenues rose 55% to $311.3 million from $200.9 million a year ago. Net income in the quarter rose 104% to $100.6 million or 44 cents per diluted share compared to net income of $49.3 million or 22 cents per share a year ago.

The Mosaic Company ((MOS)) fell 2.0% or $1.17 to $55.61 after the crop-nutrient producer was downgraded to “neutral” from “buy” at Goldman Sachs Group Inc.

The Progressive Corporation ((PGR)) added 4.0% or 78 cents to $20.25 after the auto insurer reported first quarter revenues rose 6% to $3.67 billion from $3.47 billion a year ago. Net income in the quarter rose 27% to $295.6 million or 44 cents per diluted share compared to net income of $232.5 million or 35 cents per share a year ago.

Salix Pharmaceuticals, Ltd ((SLXP)) fell 0.4% or 19 cents to $38.93 after the drugmaker was upgraded to “overweight” at Thomas Weisel Partners.

Weis Markets, Inc ((WMK)) rose 0.38% or 14 cents to $36.85 after the grocery store operator said first quarter sales rose 9.5% to $664.3 million from $606.4 million a year ago. Net income in the quarter rose 5.4% to $17.4 million or 65 cents per diluted share compared to net income of $16.5 million or 61 cents per share a year ago.

Westamerica Bancorporation ((WABC)) rose 0.91% or 53 cents to $58.67 after the bank said first quarter net interest income fell 4% to $57.0 million from $59.4 million a year ago. Net income in the quarter fell 55% to $23.6 million or 80 cents per diluted share compared to net income of $52.2 million or $1.80 per share a year ago.

W.W. Grainger, Inc ((GWW)) fell 3.4% or $3.97 to $111.67 after the distributor of facilities maintenance products reported first quarter sales rose 13.6% to $1.67 billion from $1.47 billion a year ago. Net income in the quarter rose 3% to $99.2 million or $1.31 per diluted share compared to net income of $96.4 million or $1.25 per share a year ago.