Citigroup Rises; Goldman Sachs, Eli Lilly Fall

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

Citigroup Inc led gainers in the S&P 500 index with a rise of 4.3%. Citigroup Inc quarterly net tops $4 billion. Bank of Hawaii Corp first quarter profit tops street. M&T Bank first quarter profits more than doubles as provisions decline. Eli Lilly and Company quarterly net declined 4.6%.

[R]2:00 PM New York - Citigroup Inc led gainers in the S&P 500 index with a rise of 4.3%. Citigroup Inc quarterly net tops $4 billion. Bank of Hawaii Corp first quarter profit tops street. M&T Bank first quarter profits more than doubles as provisions decline. Eli Lilly and Company quarterly net declined 4.6%.[/R]

Of the stocks in S&P 500 index, 164 increased, 327 declined and 9 were unchanged.

MEMC Electronic Materials, Inc led the decliners in the S&P 500 index with a loss of 3.7% followed by losses in AK Steel Holding Corporation of 3.2% and in Hospira, Inc of 3.2%, in The New York Times Company of 3.1% and in Peabody Energy Corporation of 2.8%.

Citigroup Inc led gainers in the S&P 500 index with a rise of 4.3% followed by gains in Sprint Nextel Corporation 2.7%, in Allergan, Inc of 2.3% and in GameStop Corp 2.3%.

Other Movers

Arch Coal, Inc ((ACI)) fell 0.1% or 4 cents to $25.96 after the coal producer reported first quarter sales rose 4.5% to $711.9 million from $681.0 million a year ago. Net loss in the quarter was $1.8 million or 1 cent per diluted share compared to net income of $30.6 million or 21 cents per share a year ago.

Amylin Pharmaceuticals, Inc ((AMLN)) declined 0.6% or 15 cents to $21.60 after the biopharmaceutical company reported first quarter revenues fell 3.5% to $174.1 million from $180.4 million a year ago. Net loss in the quarter was $38.2 million or 27 cents per diluted share compared to net loss of $47 million or 34 cents per share a year ago.

The Bank of New York Mellon Corporation ((BK)) added 1.0% or 33 cents to $31.90 after the global trust company has introduced new dashboard style reporting functionality to assist asset owners and asset managers in gaining greater visibility into their securities lending portfolio.

Bank of Hawaii Corporation ((BOH)) fell 0.02% or 1 cent to $48.59 after the bank reported first quarter net interest income rose 11% to $107.7 million from $97.1 million a year ago. Net income in the quarter rose 46.4% to $52.7 million or $1.09 per diluted share compared to net income of $36.0 million or 75 cents per share a year ago.

Chemical Financial Corporation ((CHFC)) rose 0.4% or 10 cents to $24.65 after the finance company reported first quarter net interest income fell 0.5% to $36.4 million from $36.6 million a year ago. Net income in the quarter fell 15% to $2.3 million or 10 cents per diluted share compared to net income of $2.7 million or 11 cents per share a year ago.

Citigroup Inc ((C)) rose 0.2% or 2 cents to $4.58 after the bank reported first quarter revenues rose 3.7% to $25.4 billion from $24.5 billion a year ago. Net income in the quarter rose 178.6% to $4.43 billion or 15 cents per diluted share compared to net income of $1.59 billion or loss at 18 cents per share a year ago.

CME Group Inc ((CME)) rose 0.5% or $1.81 to $314.00 after a media speculation and possibility of more derivative trades processed through a central clearing system like the company.

Cornell Companies, Inc ((CRN)) surged 32.5% or $6.01 to $24.48 after the GEO Group agreed to acquire the company for stock and cash at an estimated enterprise value of $685 million including the assumption of approximately $300 million in debt, excluding cash.

Eli Lilly and Company ((LLY)) fell 2.7% or 99 cents to $35.55 after the drugmaker reported first quarter revenues rose 8.7% to $5.49 billion from $5.05 billion a year ago. Net income in the quarter fell 4.6% to $1.25 billion or $1.13 per diluted share compared to net income of $1.31 billion or $1.20 per share a year ago.

The Goldman Sachs Group, Inc ((GS)) declined 1% or $1.70 to $159.05 after dropping 13% on Friday after the SEC alleged mortgage securities fraud.

McMoRan Exploration Co ((MMR)) declined 5.2% or 80 cents to $14.55 an oil and gas company reported first quarter sales rose 36% to $132.5 million from $97.4 million a year ago. Net loss in the quarter was $66.2 million or 74 cents per diluted share compared to net loss of $63.2 million or 90 cents per share a year ago.

M&T Bank Corporation ((MTB)) rose 0.8% or 74 cents to $84.99 after the bank reported first quarter net interest income rose 24% to $556.3 million from $447.8 million a year ago. Net income in the quarter rose 135% to $151.0 million or $1.15 per diluted share compared to net income of $64.2 million or 49 cents per share a year ago.

National Semiconductor Corporation ((NSM)) fell 0.7% or 11 cents to $15.67 after the maker of integrated circuits announced the appointment of William J. Amelio and William E. Mitchell to company’s board of directors.

Palm, Inc ((PALM)) decreased 7.8% or 44 cents to $5.16 after chief software architect Michael Abbot resigned.

RadioShack Corporation ((RSH)) the electronics retailer rose 0.8% or 19 cents to $23.51.

Sensient Technologies Corporation ((SXT)) closed unchanged at $30.63 after the maker of colors, flavors and fragrances reported first quarter sales rose 11% to $314.1 million from $282.8 million a year ago. Net income in the quarter rose 9% to $23.5 million or 48 cents per diluted share compared to net income of $21.6 million or 45 cents per share a year ago.

Shenandoah Telecommunications Company ((SHEN)) rose 1.2% or 24 cents to $19.45 after the Virginia-based phone and cable operator signed an agreement to purchase the cable operations of JetBroadband Holdings, LLC located in southern Virginia and southern West Virginia for $148 million.