Apple, EMC Rise; Wells Fargo, Juniper Fall

Mayank Mehta
21 Apr, 2010
New York City

KeyCorp led gainers in the S&P 500 index with a rise of 9.6%. Wells Fargo profit falls on integration and credit costs. Abbott reports lower first quarter net. Boeing quarterly profit falls 15%. AT&T profit drops 21%, but wireless division report strong results. Quest Diagnostics net off 3% on flat revenue. Morgan Stanley quarterly profit triples.

[R]12:50 PM New York - KeyCorp led gainers in the S&P 500 index with a rise of 9.6%. Wells Fargo profit falls on integration and credit costs. Abbott reports lower first quarter net. Boeing quarterly profit falls 15%. AT&T profit drops 21%, but wireless division report strong results. Quest Diagnostics net off 3% on flat revenue. Morgan Stanley quarterly profit triples.[/R]

Of the stocks in S&P 500 index, 280 increased, 206 declined and 14 were unchanged.

Gilead Sciences, Inc led the decliners in the S&P 500 index with a loss of 9.3% followed by losses in Juniper Networks, Inc of 5.9% and in Yahoo! Inc of 5.7%, in Quest Diagnostics Incorporated of 2.6% and in First Solar, Inc of 2.3%.

KeyCorp led gainers in the S&P 500 index with a rise of 9.6% followed by gains in Huntington Bancshares Incorporated 9.0%, in Apple Inc of 5.5% and in Comerica Incorporated 5.3%.

Other Movers

Abbott Laboratories ((ABT)) fell 0.7% or 39 cents to $52.67 after the drug and medical products company reported first quarter sales rose 15% to $7.7 billion from $6.7 billion a year ago. Net income in the quarter fell 30% to $1.0 billion or 64 cents per diluted share compared to net income of $1.44 billion or 92 cents per share a year ago.

Altera Corporation ((ALTR)) added 4.0% or $1.07 to $27.82 after the chip maker said first quarter sales rose 52% to $402.3 million from $264.6 million a year ago. Net income in the quarter rose 248% to $153.2 million or 50 cents per diluted share compared to net income of $44.0 million or 15 cents per share a year ago.

Altria Group, Inc ((MO)) rose 0.6% or 14 cents to $21.31 after the cigarette maker reported first quarter sales rose 27.3% to $5.76 billion from $4.52 billion a year ago. Net income in the quarter rose 38% to $813 million or 39 cents per diluted share compared to net income of $589 million or 28 cents per share a year ago.

AirTran Holdings, Inc ((AAI)) fell 0.1% or 1 cent to $5.79 an operator of airlines services reported first quarter revenues rose 11.6% to $605.1 million from $542 million a year ago. Net loss in the quarter was $12.0 million or 9 cents per diluted share compared to net income of $28.7 million or 21 cents per share a year ago.

Apple Inc ((AAPL)) advanced 5.4% or $13.31 to $257.85 after the maker of mobile media and computing devices said second quarter sales rose 48.7% to $13.5 billion from $9.08 billion a year ago. Net income in the quarter rose 90% to $3.07 billion or $3.33 per diluted share compared to net income of $1.62 billion or $1.79 per share a year ago.

AT&T Inc ((T)) rose 0.5% or 14 cents to $26.80 after the mobile operator reported first quarter revenues rose 0.3% to $30.65 billion from $30.57 billion a year ago. Net income in the quarter fell 21% to $2.48 billion or 42 cents per diluted share compared to net income of $3.13 billion or 53 cents per share a year ago.

ATMI, Inc ((ATMI)) gained 5.2% or $1.11 to $22.10 after the supplier of high performance materials reported first quarter sales rose 128% to $85.3 million from $37.4 million a year ago. Net income in the quarter was $8.7 million or 27 cents per diluted share compared to net loss of $18.4 million or 59 cents per share a year ago.

The Boeing Company ((BA)) rose 0.1% or 9 cents to $71.50 after the commercial aircraft maker reported first quarter sales fell 8% to $15.2 billion from $16.5 billion a year ago. Net income in the quarter fell 15% to $519 million or 70 cents per diluted share compared to net income of $610 million or 86 cents per share a year ago.

Badger Meter, Inc ((BMI)) closed unchanged at $39.16 an automatic utility meter-reading manufacturer said first quarter revenues fell 5.3% to $61.8 million from $65.3 million a year ago. Net income in the quarter fell 23% to $5.4 million or 36 cents per diluted share compared to net income of $7.0 million or 47 cents per share a year ago.

Covidien Plc ((COV)) decreased 1.8% or 98 cents to $51.30 after the manufacturer of healthcare products reported second quarter sales fell 5% to $2.66 billion from $2.80 billion a year ago. Net income in the quarter rose 124.4% to $413 million or 82 cents per diluted share compared to net income of $184 million or 36 cents per share a year ago.

Cree, Inc ((CREE)) declined 4.8% or $3.97 to $78.20 after the maker of LED lightbulbs and lamps said third quarter revenues rose 78.5% to $234.1 million from $131.1 million a year ago. Net income in the quarter was $44.6 million or 41 cents per diluted share compared to net income of $4.0 million or 5 cents per share a year ago.

Edwards Lifesciences Corporation ((EW)) fell 1.9% or $2.05 to $102.60 after the heart device maker said first quarter sales rose 8.6% to $340.5 million from $313.5 million a year ago. Net income in the quarter fell 21% to $47.7 million or 80 cents per diluted share compared to net income of $60.5 million or $1.03 per share a year ago.

EMC Corporation ((EMC)) added 2.0% 39 cents to $19.80 after the maker of storage computers reported first quarter revenue increased 23% to $3.9 billion.

Gilead Sciences, Inc. ((GILD)) slipped 4.2% or $1.92 to $43.15 after the biopharmaceutical company said first quarter revenues rose 36.6% to $2.09 billion from $1.53 billion a year ago. Net income in the quarter rose 45% to $854.9 million or 92 cents per diluted share compared to net income of $589.1 million or 63 cents per share a year ago.

Infinera Corporation ((INFN)) rose 0.1% or 1 cent to $10.01 after the provider of optical networking systems said first quarter revenues rose 44% to $95.8 million from $66.6 million a year ago. Net loss in the quarter was $20.0 million or 21 cents per diluted share compared to net loss of $24.3 million or 26 cents per share a year ago.

Juniper Networks, Inc. ((JNPR)) decreased 6.5% or $2.07 to $29.49 after the computer networking company said first quarter revenues rose 19.4% to $912.6 million from $764.2 million a year ago. Net income in the quarter was $163.1 million or 30 cents per diluted share compared to net loss of $4.5 million or 1 cent per share a year ago.

KeyCorp ((KEY)) rose 3.1% or 27 cents to $8.85 after the regional banking company reported first quarter revenues rose 1% to $1.08 billion from $1.07 billion a year ago. Net loss in the quarter was $96 million or 11 cents per diluted share compared to net loss of $536 million or $1.09 per share a year ago.

Manhattan Associates, Inc ((MANH)) surged 9.8% or $2.69 to $30.00 after the maker of software that helps businesses manage inventory posted earnings 36 cents compared to 7 cents in the first quarter of 2009, on license revenue of $14.2 million and total revenue of $73.9 million.

Morgan Stanley ((MS)) rose 3.0% or 94 cents to $31.39 after the finance company reported first quarter revenues rose 214% to $9.1 billion from $2.9 billion a year ago. Net income in the quarter was $1.41 billion or 99 cents per diluted share compared to net loss of $578 million or 57 cents per share a year ago.

Moody’s Corporation ((MCO)) declined 1.6% or 44 cents to $26.68 after the credit-rating agency reported first quarter sales rose 16.5% to $476.6 million from $408.9 million a year ago. Net income in the quarter rose 25.7% to $113.4 million or 47 cents per diluted share compared to net income of $90.2 million or 38 cents per share a year ago.

NuVasive, Inc ((NUVA)) declined 5.2% or $2.32 to $42.00 after the medical device maker said first quarter revenues rose 36.4% to $109.1 million from $80.0 million a year ago. Net income in the quarter was $1.1 million or 3 cents per diluted share compared to net loss of $4.3 million or 12 cents per share a year ago.

Panera Bread Company ((PNRA)) rose 0.9% or 82 cents to $84.10 after the chain that operates bakery cafes raised first quarter and full-year targets on sales gains.

Quest Diagnostics Incorporated ((DGX)) fell 1.8% or $1.10 to $58.50 after the lab-testing company reported first quarter revenues were flat at $1.81 billion. Net income in the quarter fell 3% to $162.4 million or 89 cents per diluted share compared to net income of $167.1 million or 88 cents per share a year ago.

St. Jude Medical, Inc ((STJ)) added 2.5% or $1.05 to $42.05 after the maker and distributor of cardiovascular medical devices reported first quarter sales rose 11.5% to $1.26 billion from $1.13 billion a year ago. Net income in the quarter rose 18.5% to $238.6 million or 73 cents per diluted share compared to net income of $201.3 million or 58 cents per share a year ago.

Tempur-Pedic International Inc ((TPX)) gained 7.3% or $2.31 to $33.55 after the maker of luxury mattresses announced a new $100 million repurchases authorization.

Tupperware Brands Corporation ((TUP)) rose 3.9% or $1.89 to $50.25 after the manufacturer of food storage containers said first quarter sales rose 20.3% to $557.1 million from $462.8 million a year ago. Net income in the quarter rose 84% to $47.1 million or 73 cents per diluted share compared to net income of $25.6 million or 41 cents per share a year ago.

Waste Connections, Inc ((WCN)) climbed 2.3% or 82 cents to $35.99 after the waste and recycling company said first quarter sales rose 17% to $307.5 million from $262.7 million a year ago. Net income in the quarter rose 25.4% to $27.6 million or 35 cents per diluted share compared to net income of $22.0 million or 27 cents per share a year ago.

Wells Fargo & Company ((WFC)) fell 1.9% or 64 cents to $33.05 after the lender reported first quarter revenues rose 2% to $21.4 billion from $21.0 billion a year ago. Net income in the quarter fell 0.4% to $2.37 billion or 45 cents per diluted share compared to net income of $2.38 billion or 56 cents per share a year ago.

Yahoo! Inc ((YHOO)) declined 4.5% or 84 cents to $17.54 after the online media operator said first quarter revenues rose 1% to $1.60 billion from $1.58 billion a year ago. Net income in the quarter rose 164% to $310.2 million or 22 cents per diluted share compared to net income of $117.6 million or 8 cents per share a year ago.