InterMune, Garmin, News Corp Drop

Mayank Mehta
05 May, 2010
New York City

News Corporation led the decliners in the S&P 500 index with a loss of 9%. IntercontinentalExchange profit rises. Garmin first quarter profit falls to $37 million. Time Warner first quarter net rises 10%. InterMune plunges 77% after it fails to win FDA approval.

[R]11:50 AM New York - News Corporation led the decliners in the S&P 500 index with a loss of 9%. IntercontinentalExchange profit rises. Garmin first quarter profit falls to $37 million. Time Warner first quarter net rises 10%. InterMune plunges 77% after it fails to win FDA approval.[/R]

Of the stocks in S&P 500 index, 77 increased, 421 declined and 2 were unchanged.

News Corporation led the decliners in the S&P 500 index with a loss of 9.0% followed by losses in Quanta Services, Inc of 6.7% and in Ford Motor Company of 6.0%, in E*Trade Financial Corporation of 5.8% and in CONSOL Energy Inc of 5.5%.

R.R. Donnelley & Sons Company led gainers in the S&P 500 index with a rise of 4.8% followed by gains in XL Capital Ltd 2.5%, in IntercontinentalExchange, Inc of 2.2% and in Apollo Group, Inc 1.5%.

Other Movers

3PAR Inc ((PAR)) decreased 2.1% or 21 cents to $9.80 after the data storage company said fourth quarter revenues rose 10.7% to $53.7 million from $48.5 million a year ago. Net loss in the quarter was $99,000 or break even per diluted share compared to net loss of $907,000 or 1 cent per share a year ago.

Argo Group International Holdings, Ltd ((AGII)) added 3.7% or $1.19 to $33.00 an insurance and reinsurance company said first quarter revenues rose 0.8% to $372.3 million from $369.5 million a year ago. Net income in the quarter fell 23.3% to $20.7 million or 67 cents per diluted share compared to net income of $27.0 million or 88 cents per share a year ago.

American Medical Systems Holdings, Inc ((AMMD)) declined 4.8% or 88 cents to $17.46 after the urological medical devices supplier said first quarter sales rose 9% to $134.9 million from $123.6 million a year ago. Net income in the quarter rose 21% to $20.7 million or 27 cents per diluted share compared to net income of $17.1 million or 23 cents per share a year ago.

Atwood Oceanics, Inc ((ATW)) slipped 2.0% or 74 cents to $34.90 after the drilling contractor said second quarter revenues rose 13% to $159.1 million from $140.7 million a year ago. Net income in the quarter rose 18.4% to $66.8 million or $1.03 per diluted share compared to net income of $56.4 million or 88 cents per share a year ago.

Atlas Air Worldwide Holdings, Inc ((AAWW)) increased 6.7% or $3.71 to $58.49 after the provider of air cargo assets and outsourced aircraft operating solutions reported first quarter sales rose 21% to $295.2 million from $244.5 million a year ago. Net income in the quarter rose 44.4% to $33.8 million or $1.30 per diluted share compared to net income of $23.4 million or $1.12 per share a year ago.

BRE Properties, Inc ((BRE)) dropped 2.3% or $1.03 to $42.23 after the real estate investment trust said first quarter revenues fell 0.2% to $85.2 million from $85.4 million a year ago. Net income in the quarter fell 57.7% to $5.5 million or 10 cents per diluted share compared to net income of $13.0 million or 25 cents per share a year ago.

CenturyTel, Inc ((CTL)) rose 1.0% or 35 cents to $34.42 an integrated communications company reported first quarter sales rose 183% to $1.8 billion from $636.4 million a year ago. Net income in the quarter rose 276.5% to $252.6 million or 84 cents per diluted share compared to net income of $67.1 million or 67 cents per share a year ago.

Chesapeake Energy Corporation ((CHK)) rose 2.4% or 57 cents to $24.19 after the natural gas company said first quarter revenues rose 40% to $2.80 billion from $2.00 billion a year ago. Net income in the quarter was $590.0 million or 92 cents per diluted share compared to net loss of $5.74 billion or $9.63 per share a year ago.

Conseco, Inc ((CNO)) climbed 3.9% or 23 cents to $6.04 after the insurance company said first quarter revenues fell 6.5% to $1.00 billion from $1.07 billion a year ago. Net income in the quarter rose 38.4% to $33.9 million or 13 cents per diluted share compared to net income of $24.5 million or 13 cents per share a year ago.

Cooper Tire & Rubber Company ((CTB)) added 5.9% or $1.25 to $22.20 after the manufacturer of replacement tires reported first quarter sales rose 32% to $754.4 million from $571.4 million a year ago. Net income in the quarter was $11.6 million or 19 cents per diluted share compared to net loss of $21.3 million or 36 cents per share a year ago.

Cott Corporation ((COT)) decreased 6.3% or 52 cents to $7.73 after the soft-drink maker reported first quarter sales fell 1% to $362.9 million from $367.0 million a year ago. Net income in the quarter fell 42% to $11.5 million or 14 cents per diluted share compared to net income of $19.9 million or 28 cents per share a year ago.

Cray Inc ((CRAY)) decreased 8.6% or 58 cents to $6.11 after the maker of supercomputers expect revenue in the second and third quarters to be around $30 million and $50 million, respectively.

Dolan Media Company ((DM)) increased 3.7% or 44 cents to $12.34 after the provider of necessary professional services and business information said first quarter revenues rose 20.3% to $77.0 million from $64.0 million a year ago. Net income in the quarter rose 7% to $9.2 million or 30 cents per diluted share compared to net income of $8.6 million or 18 cents per share a year ago.

Eclipsys Corporation ((ECLP)) rose 0.2% or 4 cents to $19.95 after the provider of advanced healthcare IT solutions said first quarter sales fell 1.4% to $128.4 million from $130.2 million a year ago. Net income in the quarter was $5.4 million or 9 cents per diluted share compared to net loss of $865,000 or 2 cents per share a year ago.

Foster Wheeler AG ((FWLT)) declined 4.3% or $1.24 to $27.55 after the engineering and construction contractor reported first quarter sales fell 25% to $945.6 million from $1.26 billion a year ago. Net income in the quarter fell 1% to $72.1 million or 56 cents per diluted share compared to net income of $72.9 million or 57 cents per share a year ago.

Garmin Ltd ((GRMN)) plunged 13.2% or $4.97 to $32.51 after the maker of portable navigation devices reported first quarter profit increased 52% to 38 cents from 25 cents in the same quarter in 2009.

Gartner, Inc ((IT)) rose 1.0% or 25 cents to $23.94 after the technology research and advisory firm reported first quarter sales rose 8% to $295.8 million from $273.5 million a year ago. Net income in the quarter fell 3% to $19.4 million or 19 cents per diluted share compared to net income of $20.0 million or 21 cents per share a year ago.

InterMune, Inc ((ITMN)) plunged 76.1% or $34.58 to $10.86 after the drugmaker said that the Food and Drug Administration rejected its application for Esbriet(TM) for the treatment of patients with idiopathic pulmonary fibrosis to reduce decline in lung function. Analysts were estimating sales from the products as high as $1 billion.

IntercontinentalExchange, Inc ((ICE)) rose 5.5% or $6.25 to $119.68 after the exchange operator reported first quarter sales rose 21.6% to $281.6 million from $231.6 million a year ago. Net income in the quarter rose 40% to $101.2 million or $1.36 per diluted share compared to net income of $72.2 million or 98 cents per share a year ago.

Kinross Gold Corporation ((KGC)) rose 0.16% or 3 cents to $18.61 after the miner said first quarter revenues rose 23.4% to $657.6 million from $532.7 million a year ago. Net income in the quarter rose 44.6% to $110.6 million or 16 cents per diluted share compared to net income of $76.5 million or 11 cents per share a year ago.

Myriad Genetics, Inc ((MYGN)) plunged 22.3% or $5.38 to $18.70 after the maker of a test for detecting inherited breast cancer expects revenue to be in the range of $360 million to $365 million, and earnings per diluted share to be in the range of $1.30 to $1.35.

Mueller Water Products, Inc ((MWA)) decreased 6.8% or 39 cents to $5.34 after the manufacturer of water treatment facilities said second quarter sales fell 6.3% to $301.8 million from $322.2 million a year ago. Net loss in the quarter was $23.7 million or 15 cents per diluted share compared to net loss of $566.8 million or $4.90 per share a year ago.

News Corporation ((NWSA)) fell 3.9% or 64 cents to $15.40 after the owner of the Twentieth Century Fox film studio said total revenue increased $1.4 billion or 19% over the prior year’s third quarter to $8.8 billion, with growth reported in all business segments.

NxStage Medical, Inc ((NXTM)) fell 2.1% or 27 cents to $12.62 after the dialysis products maker reported first quarter sales rose 20% to $40.4 million from $33.7 million a year ago. Net loss in the quarter was $9.0 million or 19 cents per diluted share compared to net loss of $12.2 million or 26 cents per share a year ago.

Orbitz Worldwide, Inc ((OWW)) increased 11 cents to $6.60 after the online travel booking company forecast second quarter increase in net revenue between 3% and 6%.

Papa John’s International, Inc ((PZZA)) rose 1.7% or 50 cents to $28.76 after the pizza chain said first quarter revenues rose 1.7% to $285.8 million from $281.0 million a year ago. Net income in the quarter fell 5.6% to $16.9 million or 62 cents per diluted share compared to net income of $17.8 million or 64 cents per share a year ago.

Parker Drilling Company ((PKD)) declined 4.2% or 22 cents to $5.00 after the contract driller reported first quarter sales fell 9.3% to $157.6 million from $173.9 million a year ago. Net loss in the quarter was $2.1 million or 2 cents per diluted share compared to net income of $2.1 million or 2 cents per share a year ago.

Qwest Communications International Inc ((Q)) fell 0.1% or 1 cent to $5.24 after the local phone company reported first quarter sales fell 6.3% to $2.97 billion from $3.17 billion a year ago. Net income in the quarter fell 81.6% to $38 million or 2 cents per diluted share compared to net income of $206 million or 12 cents per share a year ago.

Sprint Nextel Corporation ((S)) rose 2.2% or 9 cents to $4.19 after the mobile-phone carrier was upgraded to “buy” from “hold” at Deutsche Bank.

Ternium S.A. ((TX)) rose 0.8% or 27 cents to $34.21 after the manufacturer of flat and long steel products said first quarter sales rose 41% to $1.65 billion from $1.17 billion a year ago. Net income in the quarter was $245.1 million or $1.02 per ADS compared to net loss of $117.0 million or 46 cents per ADS a year ago.

Time Warner Inc ((TWX)) fell 0.06% or 2 cents to $32.65 after the media and entertainment company reported first quarter sales rose 5.3% to $6.32 billion from $6 billion a year ago. Net income in the quarter rose 10% to $725 million or 62 cents per diluted share compared to net income of $660 million or 55 cents per share a year ago.

XL Capital Ltd. ((XL)) increased 3.9% or 68 cents to $17.85 after the insurance group said first quarter revenues rose 7% to $1.64 billion from $1.53 billion a year ago. Net income in the quarter fell 28% to $128.0 million or 37 cents per diluted share compared to net income of $178.4 million or 53 cents per share a year ago.

ZymoGenetics, Inc ((ZGEN)) climbed 2.3% or 14 cents to $6.01 after the biopharmaceutical company said first quarter revenues rose 43% to $35.5 million from $24.8 million a year ago. Net loss in the quarter was $2.4 million or 3 cents per diluted share compared to net loss of $18.1 million or 26 cents per share a year ago.