SanDisk, Chipotle Rise; Baxter, Qualcomm Fall

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

Baxter International Inc led the decliners in the S&P 500 index with a loss of 14.4%. Questar jumps on possible spin-off plan. Novellus swings to quarterly profit of $41.3 million. SanDisk surges after quarterly sales soar 65%. Qualcomm Inc drops after it reported lower than expected sales increase.

[R]12:50 PM New York - Baxter International Inc led the decliners in the S&P 500 index with a loss of 14.4%. Questar jumps on possible spin-off plan. Novellus swings to quarterly profit of $41.3 million. SanDisk surges after quarterly sales soar 65%. Qualcomm Inc drops after it reported lower than expected sales increase.[/R]

Of the stocks in S&P 500 index, 52 increased, 445 declined and 3 were unchanged.

Baxter International Inc led the decliners in the S&P 500 index with a loss of 14.4% followed by losses in eBay Inc of 8.0% and in Janus Capital Group Inc of 7.0%, in Citrix Systems, Inc of 6.5% and in Qualcomm Incorporated of 6.1%.

SanDisk Corporation led gainers in the S&P 500 index with a rise of 8.7% followed by gains in Questar Corporation 8.4%, in Textron Inc of 6.1% and in SLM Corporation 5.3%.

Other Movers

Affymetrix, Inc ((AFFX)) decreased 2.5% or 21 cents to $8.00 after the genetic analysis instrument maker said first quarter sales rose 2% to $80.2 million from $78.6 million a year ago. Net loss in the quarter was $9.6 million or 14 cents per diluted share compared to net loss of $25.2 million or 37 cents per share a year ago.

Alliance Data Systems Corporation ((ADS)) declined 0.6% or 46 cents to $67.75 after the credit card processor said first quarter sales rose 38.4% to $663.5 million from $479.5 million a year ago. Net income in the quarter rose 67.4% to $46.7 million or 84 cents per diluted share compared to net income of $27.9 million or 45 cents per share a year ago.

Air Products and Chemicals, Inc ((APD)) fell 1.3% or $1.02 to $75.68 after the supplier of industrial gases reported second quarter sales rose 15% to $2.25 billion from $1.96 billion a year ago. Net income in the quarter rose 22.6% to $252 million or $1.16 per diluted share compared to net income of $205.6 million or 97 cents per share a year ago.

Alaska Air Group, Inc ((ALK)) rose 0.5% or 10 cents to $17.10 after the airlines company reported first quarter sales rose 12% to $829.9 million from $742.4 million a year ago. Net income in the quarter was $5.3 million or 15 cents per diluted share compared to net loss of $19.2 million or 53 cents per share a year ago.

BB&T Corporation ((BBT)) decreased 4.6% or $1.63 to $33.49 after the bank reported first quarter net interest income rose 14% to $1.31 billion from $1.15 billion a year ago. Net income in the quarter fell 30.6% to $188 million or 27 cents per diluted share compared to net income of $271 million or 48 cents per share a year ago.

Chipotle Mexican Grill, Inc ((CMG)) added 4.5% or $5.80 to $132.55 after the casual restaurant chain said first quarter sales rose 15.6% to $409.7 million from $354.5 million a year ago. Net income in the quarter rose 49% to $37.8 million or $1.19 per diluted share compared to net income of $25.4 million or 78 cents per share a year ago.

Cohu, Inc ((COHU)) added 2.5% or 41 cents to $16.58 after the semiconductor manufacturer said first quarter sales rose 77% to $64.8 million from $36.6 million a year ago. Net income in the quarter was $907,000 or 4 cents per diluted share compared to net loss of $6.3 million or 27 cents per share a year ago.

Delcath Systems, Inc ((DCTH)) surged 30.7% or $3.34 to $14.19 after the developer of an experimental system for chemotherapy said that its Phase III National Cancer Institute led multi-center clinical trial has successfully met the study’s primary endpoint of extended hepatic progression-free survival in patients with melanoma metastases to the liver.

Diamond Offshore Drilling, Inc ((DO)) fell 4.0% or $3.70 to $86.56 after the offshore oil and gas drilling contractor reported first quarter sales fell 3% to $859.7 million from $885.7 million a year ago. Net income in the quarter fell 16.5% to $290.9 million or $2.09 per diluted share compared to net income of $348.6 million or $2.51 per share a year ago.

E*Trade Financial Corporation ((ETFC)) decreased 0.5% or 1 cent to $1.81 after the financial services company said first quarter revenues rose 8% to $536.5 million from $497.3 million a year ago. Net loss in the quarter was $47.8 million or 2 cents per diluted share compared to net loss of $232.7 million or 41 cents per share a year ago.

eBay Inc ((EBAY)) slipped 7.9% or $2.08 to $24.21 after the online auction site operator said first quarter revenues rose 9% to $2.20 billion from $2.02 billion a year ago. Net income in the quarter rose 11.3% to $397.7 million or 30 cents per diluted share compared to net income of $357.1 million or 28 cents per share a year ago.

Fidelity National Financial, Inc ((FNF)) rose 0.3% or 5 cents to $15.50 after the title insurer said first quarter revenues fell 10.4% to $1.21 billion from $1.35 billion a year ago. Net income in the quarter was $16.5 million or 7 cents per diluted share compared to net loss of $12.4 million or 6 cents per share a year ago.

HNI Corporation ((HNI)) gained 5.1% or $1.58 to $32.13 after the office furniture maker said first quarter sales fell 8% to $363.5 million from $396.8 million a year ago. Net loss in the quarter was $6.0 million or 13 cents per diluted share compared to net loss of $11.9 million or 27 cents per share a year ago.

Intersil Corporation ((ISIL)) fell 5.9% or $1.00 to $15.75 after the chip maker said first quarter revenues rose 60% to $189.4 million from $118.2 million a year ago. Net income in the quarter was $27.7 million or 22 cents per diluted share compared to net income of $2.4 million or 2 cents per share a year ago.

Kimberly-Clark Corporation ((KMB)) declined 1.5% or 98 cents to $61.98 after the health and hygiene company reported first quarter sales rose 8% to $4.84 billion from $4.49 billion a year ago. Net income in the quarter fell 5.6% to $384 million or 92 cents per diluted share compared to net income of $407 million or 98 cents per share a year ago.

Leggett & Platt, Inc ((LEG)) advanced 3.7% or 86 cents to $24.00 after the bed springs and store shelving maker said first quarter sales rose 13.7% to $816.4 million from $718.1 million a year ago. Net income in the quarter was $45.1 million or 29 cents per diluted share compared to net income of $3.3 million or 2 cents per share a year ago.

Massey Energy Company ((MEE)) declined 1.8% or 80 cents to $42.99 after the coal producer said first quarter revenues fell 10.4% to $688.6 million from $768.1 million a year ago. Net income in the quarter fell 22.6% to $33.6 million or 39 cents per diluted share compared to net income of $43.4 million or 51 cents per share a year ago.

Netflix, Inc ((NFLX)) rose 1.6% or $1.42 to $88.40 after the provider of movie subscription service said first quarter sales rose 25% to $493.7 million from $394.1 million a year ago. Net income in the quarter rose 44% to $32.3 million or 59 cents per diluted share compared to net income of $22.4 million or 37 cents per share a year ago.

Novellus Systems, Inc ((NVLS)) fell 0.1% or 5 cents to $26.60 after the provider of equipment for the semiconductor industry said first quarter sales rose 179.4% to $276.3 million from $98.9 million a year ago. Net income in the quarter was $41.3 million or 43 cents per diluted share compared to net loss of $66.4 million or 69 cents per share a year ago.

Nokia Corporation ((NOK)) plunged 14.3% or $2.16 to $12.79 after the maker of mobile phones reported first quarter sales rose 2.6% to €9.52 billion from €9.28 billion a year ago. Net income in the quarter rose 186% to €349 million or €0.09 per diluted share compared to net income of €122 million or €0.03 per share a year ago.

Pactiv Corporation ((PTV)) fell 1.3% or 34 cents to $25.22 after the packaging products maker said first quarter sales rose 1.4% to $777.0 million from $766.0 million a year ago. Net income in the quarter fell 37.7% to $48.0 million or 36 cents per diluted share compared to net income of $77.0 million or 58 cents per share a year ago.

Philip Morris International Inc ((PM)) fell 2.9% or $1.51 to $50.48 after the cigarette maker reported first quarter revenues rose 17.3% to $15.59 billion from $13.29 billion a year ago. Net income in the quarter rose 15% to $1.7 billion or 90 cents per diluted share compared to net income of $1.48 billion or 74 cents per share a year ago.

ProLogis ((PLD)) declined 4.1% or 56 cents to $13.60 after the real estate investment trust reported first quarter sales fell 63% to $160.0 million from $432.8 million a year ago. Net loss in the quarter was $91.1 million or 19 cents per diluted share compared to net income of $178.7 million or 66 cents per share a year ago.

Pool Corporation ((POOL)) rose 1.5% or 38 cents to $24.80 after the wholesale distributor of swimming pool supplies reported first quarter sales fell 2.5% to $269.8 million from $276.6 million a year ago. Net loss in the quarter was $6.1 million or 12 cents per diluted share compared to net loss of $6.2 million or 13 cents per share a year ago.

Qwest Communications International Inc ((Q)) gained 4.3% or 23 cents to $5.47 after the CenturyLink and the company announced today that their boards of directors have approved a definitive agreement under which CenturyLink will acquire Qwest in a tax-free, stock-for-stock transaction.

Qualcomm Incorporated ((QCOM)) declined 8.2% or $3.53 to $39.10 after the maker of cell phone chips said second quarter sales rose 8% to $2.66 billion from $2.46 billion a year ago. Net income in the quarter was $774 million or 46 cents per diluted share compared to net loss of $289 million or 18 cents per share a year ago.

Questar Corporation ((STR)) rose 3.0% or $1.39 to $47.25 after the oil and gas driller considering spin-off of exploration & production business.

SanDisk Corporation ((SNDK)) gained 5.7% or $2.17 to $39.76 after the flash memory card maker said first quarter revenues rose 65% to $1.09 billion from $659.5 million a year ago. Net income in the quarter was $234.7 million or 99 cents per diluted share compared to net loss of $208 million or 92 cents per share a year ago.

Sonoco Products Company ((SON)) rose 0.1% or 6 cents to $32.83 after the packaging producer reported first quarter sales rose 17% to $935.1 million from $800.6 million a year ago. Net income in the quarter rose 110% to $48.6 million or 48 cents per diluted share compared to net income of $23.1 million or 23 cents per share a year ago.

Southwest Airlines Co ((LUV)) fell 0.8% or 12 cents to $13.46 after the passenger airline reported first quarter revenues rose 11.4% to $2.63 billion from $2.36 billion a year ago. Net income in the quarter was $11 million or 1 cent per diluted share compared to net loss of $91 million or 12 cents per share a year ago.

Starbucks Corporation ((SBUX)) rose 1.6% or 42 cents to $25.81 after the coffee-shop operator said second quarter comparable store sales increased 7%.

Teradyne, Inc ((TER)) added 9.1% or $1.11 to $13.29 after the supplier of automatic test equipment said first quarter revenues rose 173.3% to $329.6 million from $120.6 million a year ago. Net income in the quarter was $50.1 million or 24 cents per diluted share compared to net loss of $90.7 million or 53 cents per share a year ago.

Textron Inc ((TXT)) increased 7.7% or $1.64 to $23.24 after the diversified manufacturer reported first quarter sales fell 12.6% to $2.21 billion from $2.53 billion a year ago. Net loss in the quarter was $8 million or 3 cents per diluted share compared to net income of $86 million or 35 cents per share a year ago.