Washington Post, Kraft, AIG Rise

Mayank Mehta
07 May, 2010
New York City

CareFusion Corporation led the decliners in the S&P 500 index with a loss of 6.4%. AIG swings to a first quarter profit. Panasonic fiscal-year loss narrows but sales slip. Kraft profit jumps and sales up 26%. Washington Post swings to profit.

[R]11:00 AM New York - CareFusion Corporation led the decliners in the S&P 500 index with a loss of 6.4%. AIG swings to a first quarter profit. Panasonic fiscal-year loss narrows but sales slip. Kraft profit jumps and sales up 26%. Washington Post swings to profit.[/R]

Of the stocks in S&P 500 index, 316 increased, 176 declined and 8 were unchanged.

CareFusion Corporation led the decliners in the S&P 500 index with a loss of 6.4% followed by losses in Micron Technology, Inc. of 2.4% and in Jacobs Engineering Group Inc. of 2.3%, in The Estee Lauder Companies Inc. of 2.3% and in The AES Corporation of 1.9%.

Office Depot, Inc. led gainers in the S&P 500 index with a rise of 4.9% followed by gains in DirectTV 3.5%, in First Solar, Inc. of 3.4% and in Alcoa Inc. 3.4%.

Other Movers

Air Methods Corporation ((AIRM)) added 2.2% or 73 cents to $32.70. The provider of air medical emergency transport services and systems said first quarter sales fell 5.5% to $118.5 million from $125.4 million a year ago. Net income in the quarter fell 98% to $103,000 or 1 cent per diluted share compared to net income of $5.0 million or 41 cents per share a year ago.

American International Group, Inc. ((AIG)) added 3.4% or $1.25 to $38.00. The insurance company reported first quarter net premiums written fell 1% to $7.64 billion from $7.73 billion a year ago. Net income in the quarter was $1.45 billion or $2.16 per diluted share compared to net loss of $4.35 billion or $39.67 per share a year ago.

Arena Pharmaceuticals, Inc. ((ARNA)) rose 0.9% or 3 cents to $3.10. The biopharmaceutical company reported first quarter sales fell 5.5% to $2.51 million from $2.66 million a year ago. Net loss in the quarter was $31.3 million or 33 cents per diluted share compared to net loss of $50.6 million or 68 cents per share a year ago.

Avis Budget Group, Inc. ((CAR)) rose 1.3% or 17 cents to $12.50.

bebe stores, inc. ((BEBE)) rose 0.1% or 1 cent to $7.56. The clothing company said third quarter sales fell 10% to $114.5 million from $127.7 million a year ago. Net loss in the quarter was $5.5 million or 6 cents per diluted share compared to net loss of $5.0 million or 6 cents per share a year ago.

Camden Property Trust ((CPT)) dropped 4.6% or $2.25 to $46.42 after the real estate investment trust said first quarter revenues fell 3% to $152.2 million from $157.0 million a year ago. Net income in the quarter fell 63% to $2.3 million or 3 cents per diluted share compared to net income of $6.2 million or 11 cents per share a year ago.

Edison International ((EIX)) rose 0.8% or 28 cents to $32.91 after the generator and distributor of electric power reported first quarter revenues were flat at $2.81 billion. Net income in the quarter fell 5.6% to $236 million or 72 cents per diluted share compared to net income of $250 million or 76 cents per share a year ago.

General Cable Corporation ((BGC)) slipped 0.8% or 23 cents to $27.52. The maker of copper, aluminum and fiber optic wire and cable products said first quarter sales rose 5.7% to $1.1 billion from $1.04 billion a year ago. Net loss in the quarter was $7.8 million or 15 cents per diluted share compared to net loss of $27.2 million or 52 cents per share a year ago.

Hansen Natural Corporation ((HANS)) plunged 15.8% or $6.76 to $35.78 after the beverage maker reported first quarter net sales decreased 2.5% to $238.1 million from $244.2 million a year ago.

Harmonic Inc. ((HLIT)), the provider of video-delivery systems decreased 7.4% or 50 cents to $6.20.

Home Properties, Inc. ((HME)) dropped 4.3% or $2.18 to $47.92 after the real estate investment trust said first quarter revenues fell 0.7% to $127.0 million from $127.9 million a year ago. Net income in the quarter fell 76% to $2.6 million or 7 cents per diluted share compared to net income of $10.9 million or 33 cents per share a year ago.

Huntsman Corporation ((HUN)) gained 4.6% or 49 cents to $10.54. The chemical maker reported first quarter sales rose 24.4% to $2.09 billion from $1.68 billion a year ago. Net loss in the quarter was $172 million or 73 cents per diluted share compared to net loss of $290 million or $1.24 per share a year ago.

Kraft Foods Inc. ((KFT)) fell 1.8% or 54 cents to $29.21. The food maker said first quarter revenues rose 25.6% to $11.3 billion from $9.0 billion a year ago. Net income in the quarter rose 185% to $1.88 billion or $1.16 per diluted share compared to net income of $660 million or 45 cents per share a year ago.

Las Vegas Sands Corp ((LVS)) advanced 3.4% or 80 cents to $22.45 after the owners and operator of casino resorts and convention centers was upgraded to “buy” from “neutral” at UBS AG.

Mirant Corporation ((MIR)) gained 6.4% or 70 cents to $11.48. The energy company reported first quarter revenues fell 5.5% to $880 million from $878 million a year ago. Net income in the quarter fell 98% to $407 million or $2.79 per diluted share compared to net income of $380 million or $2.62 per share a year ago.

Panasonic Corporation ((PC)) rose 1.5% or 21 cents to $14.25. The consumer electronics makers said fiscal year 2010 sales fell 4.5% to ¥7.42 trillion from ¥7.77 trillion a year ago. Net loss in the year was ¥103.5 billion or ¥49.97 per diluted share compared to net loss of ¥379.0 billion or ¥182.25 per share a year ago.

Rosetta Stone Inc. ((RST)) fell 3.1% or 78 cents to $23.75. The provider of education software said first quarter total revenue increased 25% to $63.0 million compared to $50.3 million a year ago.

Southern Union Company ((SUG)) decreased 2.8% or 67 cents to $22.94. The natural gas company reported first quarter sales rose 11% to $759.0 million from $683.9 million a year ago. Net income in the quarter rose 23% to $54.3 million or 43 cents per diluted share compared to net income of $44.1 million or 36 cents per share a year ago.

SRA International, Inc. ((SRX)) fell 1.7% or 39 cents to $22.05. The provider of technology and strategic consulting services said third quarter sales rose 9% to $411.0 million from $376.9 million a year ago. Net loss in the quarter was $39.7 million or 70 cents per diluted share compared to net income of $14.3 million or 25 cents per share a year ago.

STEC, Inc. ((STEC)), the maker of flash-memory drives rose 0.3% or 4 cents to $13.27.

Tesco Corporation ((TESO)) declined 6.7% or 78 cents to $10.75 after the service provider for upstream energy industry said first quarter revenues fell 22% to $86.0 million from $110.2 million a year ago. Net income in the quarter fell 71.7% to $2.2 million or 6 cents per diluted share compared to net income of $7.5 million or 20 cents per share a year ago.

TETRA Technologies, Inc. ((TTI)) fell 0.9% or 22 cents to $10.84. The oil and gas services company reported first quarter sales rose 5% to $205.7 million from $195.3 million a year ago. Net income in the quarter fell 52% to $5.4 million or 7 cents per diluted share compared to net income of $11.2 million or 15 cents per share a year ago.

The Hanover Insurance Group, Inc. ((THG)) fell 2.6% or $1.17 to $43.35. The insurance company said first quarter net premiums written rose 15% to $725.2 million from $629.9 million a year ago. Net income in the quarter rose 62% to $41.8 million or 87 cents per diluted share compared to net income of $25.8 million or 50 cents per share a year ago.

The Washington Post Company ((WPO)) fell 0.5% or $2.52 to $485.98. The diversified education and media company reported first quarter sales rose 11.4% to $1.17 billion from $1.05 billion a year ago. Net income in the quarter was $45.4 million or $4.91 per diluted share compared to net loss of $19.2 million or $2.04 per share a year ago.