MEMC, VistaPrint Fall; Coinstar Rises

Mayank Mehta
30 Apr, 2010
New York City

MEMC Electronic Materials, Inc led the decliners in the S&P 500 index with a loss of 15%. Allergan reports higher quarterly earnings. Chevron first quarter net income grows by 147%. Nasdaq OMX profit climbs but lags estimates. Coventry Health lifts view as profit doubles.

[R]12:20 PM New York - MEMC Electronic Materials, Inc led the decliners in the S&P 500 index with a loss of 15%. Allergan reports higher quarterly earnings. Chevron first quarter net income grows by 147%. Nasdaq OMX profit climbs but lags estimates. Coventry Health lifts view as profit doubles.[/R]

Of the stocks in S&P 500 index, 256 increased, 241 declined and 3 were unchanged.

MEMC Electronic Materials, Inc led the decliners in the S&P 500 index with a loss of 14.9% followed by losses in McAfee, Inc of 11.5% and in QLogic Corporation of 8.5%, in Southwestern Energy Company of 5.8% and in The Goldman Sachs Group, Inc of 5.7%.

D.R. Horton, Inc led gainers in the S&P 500 index with a rise of 5.9% followed by gains in Newell Rubbermaid Inc 4.3%, in Discovery Communications Inc of 4.0% and in MetLife, Inc 3.9%.

Other Movers

Acorda Therapeutics, Inc ((ACOR)) fell 0.4% or 9 cents to $39.49 after the biopharmaceutical company reported first quarter sales rose 23% to $15.4 million from $12.5 million a year ago. Net loss in the quarter was $21.1 million or 56 cents per diluted share compared to net loss of $18.7 million or 50 cents per share a year ago.

Acme Packet, Inc ((APKT)) surged 19.1% or $4.03 to $25.10 after the maker of devices to transmit phone calls and video said it expects 2010 earnings of 65 cents to 70 cents per share on revenue of $204.0 million to $208.0 million.

Allergan, Inc ((AGN)) added 1.1% or 72 cents to $62.70 after the multi-specialty health care company reported first quarter sales rose 14% to $1.15 billion from $1.01 billion a year ago. Net income in the quarter rose 275.6% to $167.9 million or 55 cents per diluted share compared to net income of $44.7 million or 15 cents per share a year ago.

Athenahealth, Inc ((ATHN)) plunged 12.5% or $4.42 to $30.93 after the provider of Internet-based services reported first quarter adjusted net income of 6 cents per share after the close Thursday, down from 8 cents per share last year.

Amerigroup Corporation ((AGP)) dropped 0.5% or 21 cents to $36.11 after the health insurer reported first quarter sales rose 11.4% to $1.37 billion from $1.23 billion a year ago. Net income in the quarter rose 14.4% to $42.2 million or 82 cents per diluted share compared to net income of $36.9 million or 69 cents per share a year ago.

Avon Products, Inc ((AVP)) dropped 0.6% or 22 cents to $32.45 after the seller of beauty products reported first quarter sales rose 14% to $2.46 billion from $2.16 billion a year ago. Net income in the quarter fell 64% to $42.5 million or 10 cents per diluted share compared to net income of $117.3 million or 27 cents per share a year ago.

Barnes Group Inc ((B)) added 2.1% or 44 cents to $21.24 after the maker of aerospace and industrial components reported first quarter sales rose 6% to $278.1 million from $262.2 million a year ago. Net income in the quarter rose 2.6% to $11.8 million or 21 cents per diluted share compared to net income of $11.5 million or 22 cents per share a year ago.

Chevron Corporation ((CVX)) rose 0.6% or 52 cents to $82.81 after the oil company reported first quarter revenues rose 33.5% to $48.2 billion from $36.1 billion a year ago. Net income in the quarter rose 147% to $4.55 billion or $2.27 per diluted share compared to net income of $1.84 billion or 92 cents per share a year ago.

Constellation Energy Group, Inc ((CEG)) decreased 3.2% or $1.23 to $36.33 an energy company reported first quarter sales fell 16.5% to $3.59 billion from $4.30 billion a year ago. Net income in the quarter was $191.5 million or 95 cents per diluted share compared to net loss of $123.5 million or 62 cents per share a year ago.

Coventry Health Care, Inc ((CVH)) dropped 1.6% or 40 cents to $24.48 after the health insurer reported first quarter sales fell 19% to $2.86 billion from $3.53 billion a year ago. Net income in the quarter rose 121% to $97.3 million or 66 cents per diluted share compared to net income of $44.2 million or 30 cents per share a year ago.

City National Corporation ((CYN)) added 1.1% or 64 cents to $58.13 after the bank said first quarter net interest income rose 21% to $175.5 million from $144.9 million a year ago. Net income in the quarter rose 400% to $10.0 million or 19 cents per diluted share compared to net income of $2.0 million or 4 cents per share a year ago.

Coinstar, Inc ((CSTR)) surged 20.7% or $7.92 to $46.13 and the company said for the second quarter of 2010, management expects revenue in the range of $370.0 million to $390.0 million.

CyberSource Corporation ((CYBS)) rose 0.2% or 7 cents to $25.84 after the provider of electronic payment and risk management solutions said first quarter sales rose 27% to $76.6 million from $60.5 million a year ago. Net income in the quarter rose 280% to $3.8 million or 5 cents per diluted share compared to net income of $1.0 million or 1 cent per share a year ago.

Discovery Communications Inc ((DISCA)) rose 0.8% or 30 cents to $37.80 after the owner of the Discovery Channel and Animal Planet cable channels raised its outlook for the full year ending December. The Company expects total revenue between $3.78 billion and $3.75 billion.

Dominion Resources, Inc ((D)) fell 0.05% or 2 cents to $41.28 after the producer and transporter of energy said first quarter sales fell 8.7% to $4.2 billion from $4.6 billion a year ago. Net income in the quarter fell 30% to $174 million or 29 cents per diluted share compared to net income of $248 million or 42 cents per share a year ago.

Dolby Laboratories, Inc ((DLB)) gained 4.3% or $2.73 to $65.25 an audio technology licensor said second quarter sales rose 19.3% to $243.4 million from $204.1 million a year ago. Net income in the quarter rose 23.6% to $85.9 million or 74 cents per diluted share compared to net income of $69.5 million or 60 cents per share a year ago.

DPL Inc ((DPL)) fell 1.2% or 35 cents to $27.75 after the regional energy company said first quarter revenues rose 8.7% to $451.2 million from $415.0 million a year ago. Net income in the quarter rose 2.6% to $71.0 million or 61 cents per diluted share compared to net income of $69.2 million or 61 cents per share a year ago.

Expedia, Inc ((EXPE)) fell 0.4% or 11 cents to $24.40 an online travel company said first quarter sales rose 13% to $717.9 million from $635.7 million a year ago. Net income in the quarter rose 51% to $59.4 million or 20 cents per diluted share compared to net income of $39.4 million or 14 cents per share a year ago.

Fiserv, Inc ((FISV)) dropped 5.8% or $3.18 to $51.51 after the financial services technology firm said first quarter sales fell 1% to $1.01 billion from $1.02 billion a year ago. Net income in the quarter rose 17.5% to $121 million or 79 cents per diluted share compared to net income of $103 million or 66 cents per share a year ago.

Genworth Financial, Inc ((GNW)) fell 0.7% or 14 cents to $17.95 after the insurer said first quarter revenues rose 40% to $2.42 billion from $1.73 billion a year ago. Net income in the quarter was $178 million or 36 cents per diluted share compared to net loss of $469 million or $1.08 per share a year ago.

The Goldman Sachs Group, Inc ((GS)) declined 5.1% or $8.25 to $151.95 after the most-profitable firm was downgraded to “neutral” from “buy” at Bank of America Corp.

Ingram Micro Inc ((IM)) rose 1.0% or 20 cents to $18.75 after the technology distributor said first quarter sales rose 21% to $8.1 billion from $6.7 billion a year ago. Net income in the quarter rose 155% $70.3 million or 42 cents per diluted share compared to net income of $27.5 million or 17 cents per share a year ago.

Luxottica Group S.p.A ((LUX)) rose 0.07% or 2 cents to $28.03 after the manufacturer and distributor of fashion, luxury and sports eyewear said first quarter sales rose 6% to €1.39 billion from €1.31 billion a year ago. Net income in the quarter rose 20.7% to €95.1 million or €0.21 per diluted share compared to net income of €78.8 million or €0.17 per share a year ago.

McAfee, Inc ((MFE)) plunged 10.7% or $4.23 to $35.30 after the computer-security software maker said first quarter sales rose 12% to $502.7 million from $447.7 million a year ago. Net income in the quarter fell 30% to $37.6 million or 23 cents per diluted share compared to net income of $53.5 million or 34 cents per share a year ago.

MEMC Electronic Materials, Inc ((WFR)) dropped 6.7% or $1.07 to $14.87 after the maker of silicon wafers for solar modules and semiconductors reported first quarter net loss of $15.3 million.

MetLife, Inc ((MET)) dropped 0.3% or 17 cents to $45.45 after the insurer said first quarter sales rose 17% to $13.07 billion from $11.14 billion a year ago. Net income in the quarter was $805 million or 97 cents per diluted share compared to net loss of $574 million or 71 cents per share a year ago.

Monster Worldwide, Inc ((MWW)) plunged 10.7% or $1.93 to $15.96 after the online-recruiting company forecast a loss of 2 cents to 6 cents in the second quarter.

MDU Resources Group, Inc ((MDU)) slipped 2.2% or 55 cents to $21.97 after the natural resource company reported first quarter sales fell 23.4% to $834.8 million from $1.09 billion a year ago. Net income in the quarter was to $41.6 million or 22 cents per diluted share compared to net loss of $344 million or $1.87 per share a year ago.

MoneyGram International, Inc ((MGI)) rose 1.5% or 5 cents to $3.25 after the payment services company reported first quarter revenues rose 3% to $288.9 million from $279.9 million a year ago. Net loss in the quarter was $21.4 million or 26 cents per diluted share compared to net loss of $16.4 million or 20 cents per share a year ago.

The NASDAQ OMX Group, Inc ((NDAQ)) fell 4.1% or 90 cents to $20.95 after the global exchange group reported first quarter sales fell 2.4% to $360 million from $369 million a year ago. Net income in the quarter fell 35% to $61 million or 28 cents per diluted share compared to net income of $94 million or 44 cents per share a year ago.

Penske Automotive Group, Inc ((PAG)) closed unchanged at $15.78 after the dealer group reported first quarter net income attributable to common shareholders in the first quarter of 2010 was $20.4 million or 22 cents per share.

PHH Corporation ((PHH)) added 1.8% or 48 cents to $25.86 after the outsource provider of mortgage and fleet management services said first quarter sales fell 1.7% to $577 million from $587 million a year ago. Net income in the quarter rose 300% to $8 million or 15 cents per diluted share compared to net income of $2 million or 4 cents per share a year ago.

Southwestern Energy Company ((SWN)) fell 1.9% or 78 cents to $39.60 an oil and natural gas explorer said first quarter revenues rose 23.5% to $668.1 million from $540.8 million a year ago. Net income in the quarter was $171.8 million or 49 cents per diluted share compared to net loss of $432.8 million or $1.26 per share a year ago.

V.F. Corporation ((VFC)) rose 1.0% or 95 cents to $88.07 after the clothing maker reported first quarter revenues rose 1.4% to $1.75 billion from $1.73 billion a year ago. Net income in the quarter rose 62% to $163.5 million or $1.46 per diluted share compared to net income of $100.9 million or 91 cents per share a year ago.

Vistaprint NV ((VPRT)) fell 8.5% or $5.02 to $53.58 after the online provider of printing services projected said it expects fourth quarter GAAP earnings of 24 cents to 27 cents per share on revenue of $169.0 million to $174.0 million.