Akamai, First Solar Rise; Visa, Kodak Fall

Mayank Mehta
29 Apr, 2010
New York City

Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 16%. Exxon Mobil net climbs 38%. Kellogg announces $2.5 billion buyback. ConocoPhillips net income more than doubles. Waste Management net income climbs 17%. Fortune Brands quarterly profit jumps to $72 million.

[R]12:40 PM New York - Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 16%. Exxon Mobil net climbs 38%. Kellogg announces $2.5 billion buyback. ConocoPhillips net income more than doubles. Waste Management net income climbs 17%. Fortune Brands quarterly profit jumps to $72 million.[/R]

Of the stocks in S&P 500 index, 447 increased, 52 declined and 1 were unchanged.

Harman International Industries, Incorporated led the decliners in the S&P 500 index with a loss of 18.3% followed by losses in Eastman Kodak Company of 9.0% and in E*Trade Financial Corporation of 8.1%, in Apollo Group, Inc of 5.9% and in Equifax Inc of 5.9%.

Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 16.3% followed by gains in First Solar, Inc 14.4%, in Assurant, Inc of 8.1% and in O’Reilly Automotive, Inc 6.5%.

Other Movers

ACE Limited ((ACE)) added 2.3% or $1.25 to $53.65 after the property and casualty insurer said first quarter net premiums written rose 4.4% to $3.57 billion from $3.42 billion a year ago. Net income in the quarter rose 33% to $755 million or $2.22 per diluted share compared to net income of $567 million or $1.69 per share a year ago.

Aetna Inc ((AET)) added 1.3% or 40 cents to $30.90 after the health insurer reported first quarter sales rose 0.1% to $8.62 billion from $8.61 billion a year ago. Net income in the quarter rose 28.5% to $562.6 million or $1.28 per diluted share compared to net income of $437.8 million or 95 cents per share a year ago.

Akamai Technologies, Inc ((AKAM)) increased 8.9% or $2.97 to $36.15 after the online video delivery company said first quarter revenues rose 14% to $240.0 million from $210.4 million a year ago. Net income in the quarter rose 10% to $40.9 million or 22 cents per diluted share compared to net income of $37.1 million or 20 cents per share a year ago.

ArcelorMittal ((MT)) fell 0.8% or 33 cents to $40.63 after the steel producer said first quarter sales rose 24% to $18.7 billion from $15.1 billion a year ago. Net income for the quarter was $679 million or 35 cents per diluted share compared to net loss of $1.06 billion or 78 cents per share a year ago.

Assurant, Inc ((AIZ)) fell 0.3% or 10 cents to $33.69 after the provider of specialty insurance said first quarter revenues rose 4% to $2.17 billion from $2.09 billion a year ago. Net income in the quarter rose 95% to $157.2 million or $1.34 per diluted share compared to net income of $80.6 million or 68 cents per share a year ago.

Avnet, Inc ((AVT)) climbed 3.4% or $1.11 to $33.72 an industrial distributor of electronic components reported third quarter sales rose 28.6% to $4.76 billion from $3.70 billion a year ago. Net income in the quarter rose 625% to $114.5 million or 75 cents per diluted share compared to net income of $15.8 million or 10 cents per share a year ago.

Ball Corporation ((BLL)) fell 0.4% or 25 cents to $54.52 after the packaging maker reported first quarter sales rose 7.5% to $1.71 billion from $1.59 billion a year ago. Net income in the quarter rose 14% to $79.3 million or 84 cents per diluted share compared to net income of $69.5 million or 73 cents per share a year ago.

BorgWarner Inc ((BWA)) gained 9.4% or $3.77 to $43.73 after the auto parts maker reported first quarter sales rose 57.5% to $1.29 billion from $819.5 million a year ago. Net income in the quarter was $76.2 million or 63 cents per diluted share compared to net loss of $7.0 million or 6 cents per share a year ago.

Bunge Limited ((BG)) rose 0.02% or 1 cent to $57.29 after the agribusiness and food company reported first quarter sales rose 12% to $10.3 billion from $9.2 billion a year ago. Net income in the quarter was $63 million or 31 cents per diluted share compared to net loss of $195 million or $1.76 per share a year ago.

Burger King Holdings, Inc ((BKC)) gained 3.5% or 73 cents to $21.42 after the fast food restaurant chain reported third quarter sales fell 0.5% to $596.9 million from $599.9 million a year ago. Net income in the quarter fell 13% to $41.0 million or 30 cents per diluted share compared to net income of $47.1 million or 34 cents per share a year ago.

CME Group Inc ((CME)) dropped 1.1% or $3.88 to $326.43 after the futures exchange operator reported first quarter sales rose 7% to $693.2 million from $647.1 million a year ago. Net income in the quarter rose 20.6% to $240.2 million or $3.62 per diluted share compared to net income of $199.1 million or $3.00 per share a year ago.

Cabot Oil & Gas Corporation ((COG)) advanced 1.7% or 66 cents to $38.21 after the oil and gas company said first quarter revenues fell 9% to $212.6 million from $233.9 million a year ago. Net income in the quarter fell 39.7% to $28.7 million or 28 cents per diluted share compared to net income of $47.6 million or 46 cents per share a year ago.

CB Richard Ellis Group, Inc ((CBG)) gained 3.8% or 64 cents to $17.24 after the commercial real estate services firm said first quarter revenues rose 15.7% to $1.03 billion from $890.4 million a year ago. Net loss in the quarter was $6.6 million or 2 cents per diluted share compared to net loss of $36.7 million or 14 cents per share a year ago.

Cerner Corporation ((CERN)) fell 1.4% or $1.33 to $88.93 after the provider of information technology services for the health care industry said first quarter sales rose 10% to $431.3 million from $392.3 million a year ago. Net income in the quarter rose 23% to $50.3 million or 59 cents per diluted share compared to net income of $40.8 million or 49 cents per share a year ago.

Core Laboratories N.V. ((CLB)) rose 0.3% or 50 cents to $149.58 after the services provider to the oil and gas industry said first quarter revenues rose 5.3% to $188.3 million from $178.9 million a year ago. Net income in the quarter rose 10.3% to $32.2 million or $1.38 per diluted share compared to net income of $29.2 million or $1.26 per share a year ago.

Covance Inc ((CVD)) declined 7.4% or $4.50 to $56.00 after the contract research organization for pharmaceutical companies forecast second quarter profit of 50 cents a share.

ConocoPhillips ((COP)) added 2.1% or $1.25 to $59.80 an integrated energy company reported first quarter revenues rose 46% to $44.8 billion from $30.7 billion a year ago. Net income in the quarter rose 162.5% to $2.1 billion or $1.40 per diluted share compared to net income of $800 million or 54 cents per share a year ago.

Equifax Inc ((EFX)) fell 2.3% or 84 cents to $34.42 after the credit reporting company said first quarter sales rose 3% to $461.3 million from $446.6 million a year ago. Net income in the quarter rose 4% to $56.7 million or 44 cents per diluted share compared to net income of $54.4 million or 43 cents per share a year ago.

Energen Corporation ((EGN)) rose 1.8% or 89 cents to $48.97 after the energy company said first quarter revenues rose 19% to $575.0 million from $484.1 million a year ago. Net income in the quarter rose 22% to $116.7 million or $1.62 per diluted share compared to net income of $95.6 million or $1.33 per share a year ago.

Entergy Corporation ((ETR)) rose 1.0% or 85 cents to $80.80 an energy company reported first quarter sales fell 1.1% to $2.76 billion from $2.79 billion a year ago. Net income in the quarter fell 9% to $213.8 million or $1.12 per diluted share compared to net income of $235.3 million or $1.20 per share a year ago.

Everest Re Group, Ltd ((RE)) rose 0.8% or 71 cents to $80.86 after the reinsurer said first quarter revenues rose 18.3% to $1.17 billion from $989.3 million a year ago. Net loss in the quarter was $22.7 million or 38 cents per diluted share compared to net income of $108.6 million or $1.76 per share a year ago.

Express Scripts, Inc ((ESRX)) fell 2.8% or $2.88 to $98.80 after the pharmacy-benefits manager said first quarter revenues rose 105.5% to $11.14 billion from $5.42 billion a year ago. Net income in the quarter rose 21.4% to $260.2 million or 94 cents per diluted share compared to net income of $214.4 million or 86 cents per share a year ago.

Exxon Mobil Corporation ((XOM)) fell 0.4% or 33 cents to $68.86 after the oil producer reported first quarter sales rose 41% to $90.25 billion from $64.03 billion a year ago. Net income in the quarter rose 38.4% to $6.3 billion or $1.33 per diluted share compared to net income of $4.55 billion or 92 cents per share a year ago.

First Solar, Inc ((FSLR)) rose 6.5% or $8.37 to $136.50 after the manufacturer of solar modules said first quarter sales rose 36% to $568.0 million from $418.2 million a year ago. Net income in the quarter rose 4.7% to $172.3 million or $2.00 per diluted share compared to net income of $164.6 million or $1.99 per share a year ago.

Fortune Brands, Inc ((FO)) rose 0.7% or 39 cents to $54.04 after the maker of consumer products reported first quarter sales rose 13% to $1.63 billion from $1.44 billion a year ago. Net income in the quarter rose 875.7% to $72.2 million or 47 cents per diluted share compared to net income of $7.4 million or 5 cents per share a year ago.

Genpact Limited ((G)) fell 1.9% or 34 cents to $17.19 after the business process and technology services provider reported first quarter sales rose 8.4% to $288.2 million from $265.8 million a year ago. Net income in the quarter fell 6% to $28.2 million or 13 cents per diluted share compared to net income of $30.0 million or 14 cents per share a year ago.

Green Mountain Coffee Roasters, Inc ((GMCR)) plunged 14.1% or $12.31 to $74.60 after the company said net income for the second quarter of fiscal 2010 totaled $24.7 million or 54 cents per fully diluted share.

GrafTech International Ltd ((GTI)) surged 23.9% or $3.22 to $16.69 after the maker of products used in steel and aluminum production today announced that it has signed agreements to acquire the remaining interest in Seadrift Coke L.P. the world''s second largest petroleum-based needle coke producer, and all of the equity interest in C/G Electrodes LLC, a graphite electrode producer, for an aggregate of $692 million net of $74 million allocable to GrafTech for its existing interests in Seadrift.

Harris Corporation ((HRS)) rose 2.4% or $1.21 to $51.00 after the communications equipment maker said third quarter revenues rose 10% to $1.33 billion from $1.21 billion a year ago. Net income in the quarter rose 45.7% to $166.2 million or $1.27 per diluted share compared to net income of $114.2 million or 86 cents per share a year ago.

Helmerich & Payne, Inc ((HP)) fell 0.09% or 3 cents to $42.59 an onshore driller reported second quarter revenues fell 15.5% to $439.7 million from $520.3 million a year ago. Net income in the quarter fell 55% to $46.7 million or 43 cents per diluted share compared to net income of $103.7 million or 98 cents per share a year ago.

Illumina, Inc ((ILMN)) surged 10.2% or $3.86 to $41.50 after the maker of DNA analysis equipment said net income for the first quarter of 2010 of $26.6 million, or 21 cents per diluted share.

Kellogg Company ((K)) increased 3.8% or $2.02 to $54.57 after the cereal maker reported first quarter sales rose 4.7% to $3.32 billion from $3.17 billion a year ago. Net income in the quarter rose 30% to $418 million or $1.09 per diluted share compared to net income of $321 million or 84 cents per share a year ago.

Logitech International S.A. ((LOGI)) dropped 1.4% or 25 cents to $17.10 after the maker of computers and other digital platforms said fourth quarter sales rose 29% to $525.4 million from $408.0 million a year ago. Net income in the quarter was $24.5 million or 14 cents per diluted share compared to net loss of $35.1 million or 20 cents per share a year ago.

The Lubrizol Corporation ((LZ)) climbed 4.4% or $4.08 to $96.86 after the chemicals and lubricants maker reported first quarter revenues rose 30.7% to $1.32 billion from $1.01 billion a year ago. Net income in the quarter rose 153% to $162.3 million or $2.32 per diluted share compared to net income of $64.2 million or 95 cents per share a year ago.

Motorola, Inc ((MOT)) added 5.0% or 35 cents to $7.28 after the handset maker reported first quarter sales decreased to $5.0 billion from $5.3 billion a year ago.

Morningstar, Inc ((MORN)) slipped 1.4% or 73 cents to $48.73 after the data firm said first quarter revenues rose 10% to $128.3 million from $116.7 million a year ago. Net income in the quarter fell 19% to $20.2 million or 40 cents per diluted share compared to net income of $25.0 million or 51 cents per share a year ago.

Owens-Illinois, Inc ((OI)) fell 1.3% or 49 cents to $35.72 after the glass container manufacturer said first quarter sales rose 4% to $1.58 billion from $1.52 billion a year ago. Net income in the quarter rose 89% to $85.3 million or 50 cents per diluted share compared to net income of $45.1 million or 27 cents per share a year ago.

Palm, Inc ((PALM)) surged 25.9% or $1.19 to $5.82 after the maker of the Pre smartphone agreed to be acquired by Hewlett-Packard Company.

The Procter & Gamble Company ((PG)) fell 3.2% or $2.03 to $61.14 after the consumer products giant reported third quarter sales rose 7.4% to $19.18 billion from $17.86 billion a year ago. Net income in the quarter fell 1% to $2.59 billion or 83 cents per diluted share compared to net income of $2.61 billion or 84 cents per share a year ago.

Revlon, Inc ((REV)) fell 2.2% or 39 cents to $16.44 after the maker of cosmetics reported first quarter sales rose 0.7% to $305.5 million from $303.3 million a year ago. Net income in the quarter fell 82.7% to $2.2 million or 4 cents per diluted share compared to net income of $12.7 million or 25 cents per share a year ago.

The Allstate Corporation ((ALL)) dropped 2.8% or 95 cents to $32.82 after the property and casualty insurer said first quarter revenues fell 1.6% to $7.75 billion from $7.88 billion a year ago. Net income in the quarter was $120.0 million or 22 cents per diluted share compared to net loss of $274.0 million or 51 cents per share a year ago.

Tessera Technologies, Inc ((TSRA)) increased 6.7% or $1.47 to $23.20 after the chip technology developer said first quarter sales fell 44% to $64.3 million from $114.6 million a year ago. Net income in the quarter fell 75% to $9.8 million or 20 cents per diluted share compared to net income of $39.5 million or 82 cents per share a year ago.

Tetra Tech, Inc ((TTEK)) rose 0.4% or 10 cents to $22.64 after the provider of engineering, construction and technical services said second quarter sales fell 10% to $469.5 million from $522.3 million a year ago. Net income in the quarter fell 25.5% to $14.3 million or 23 cents per diluted share compared to net income of $19.2 million or 32 cents per share a year ago.

Time Warner Cable Inc ((TWC)) rose 2.8% or $1.53 to $54.66 after the cable operator reported first quarter revenues rose 5.5% to $4.60 billion from $4.36 billion a year ago. Net income in the quarter rose 30.5% to $214 million or 60 cents per diluted share compared to net income of $164 million or 48 cents per share a year ago.

Vanda Pharmaceuticals Inc ((VNDA)) fell 6.8% or 65 cents to $8.95 after the biopharmaceutical company’s shares were downgraded to “reduce” from “buy” at Madison Williams.

Visa Inc ((V)) fell 1.5% or $1.42 to $92.19 after the debit card and card payment processor said second quarter revenues rose 17.4% to $1.96 billion from $1.67 billion a year ago. Net income in the quarter rose 33% to $713 million or 96 cents per diluted share compared to net income of $536 million or 71 cents per share a year ago.

Waste Management, Inc. ((WM)) rose 0.2% or 9 cents to $35.38 after the provider of integrated waste services reported first quarter revenues rose 4.6% to $2.94 billion from $2.81 billion a year ago. Net income in the quarter rose 17.4% to $182 million or 37 cents per diluted share compared to net income of $155 million or 31 cents per share a year ago.

Whiting Petroleum Corporation ((WLL)) rose 1.2% or $1.00 to $84.16 an oil refiner said first quarter revenues rose 114.5% to $351.3 million from $163.8 million a year ago. Net income in the quarter was $81.2 million or $1.46 per diluted share compared to net loss of $43.8 million or 92 cents per share a year ago.

Willis Group Holdings PLC ((WSH)) rose 0.5% or 18 cents to $33.20 after the insurance broker said first quarter sales rose 4.5% to $972 million from $930 million a year ago. Net income in the quarter rose 5.7% to $204 million or $1.20 per diluted share compared to net income of $193 million or $1.16 per share a year ago.