BHP, Rio, GE Rise; Moody's, Dean Foods Fall

Mayank Mehta
10 May, 2010
New York City

Aflac Incorporated led gainers in the S&P 500 index with a rise of 12.9%. Dean Foods suspends full-year view after the latest quarterly profit declined. Tyson Foods net exceeds profit target. NRG Energy net down 71% on fewer derivatives gains.

[R]11:30 AM New York - Aflac Incorporated led gainers in the S&P 500 index with a rise of 12.9%. Dean Foods suspends full-year view after the latest quarterly profit declined. Tyson Foods net exceeds profit target. NRG Energy net down 71% on fewer derivatives gains.[/R]

Of the stocks in S&P 500 index, 496 increased, 4 declined and none were unchanged.

Dean Foods Company led the decliners in the S&P 500 index with a loss of 19.7% followed by losses in Moody’s Corporation of 9.2% and in The McGraw-Hill Companies, Inc of 2.1%, in Wal-Mart Stores, Inc of 0.02%% and in Millipore Corporation of 0.4%.

Aflac Incorporated led gainers in the S&P 500 index with a rise of 12.9% followed by gains in Zions Bancorporation 12.4%, in The AES Corporation of 11.3% and in ProLogis 11.1%.

Other Movers

The Boeing Company ((BA)) increased 6.4% or $4.33 to $71.05 after the commercial-plane maker was upgraded to “conviction buy” from “neutral” Goldman Sachs Group Inc.

Borders Group, Inc ((BGP)) the unprofitable book retailer increased 8.1% or 18 cents to $2.38.

BWAY Holding Company ((BWY)) rose 0.4% or 8 cents to $19.61 after the maker of paint containers and aerosol cans said net income of $4.4 million or 18 cents per diluted share compared to $8.7 million or 38 cents per diluted share a year ago.

Dean Foods Company ((DF)) plunged 11.4% or $1.68 to $12.95 after the food and beverage company reported first quarter sales rose 10% to $2.97 billion from $2.70 billion a year ago. Net income in the quarter fell 43.3% to $43.2 million or 24 cents per diluted share compared to net income of $76.2 million or 48 cents per share a year ago.

DISH Network Corporation ((DISH)) advanced 5.2% or $1.11 to $22.41 after the satellite TV provider reported first quarter sales rose 5% to $3.06 billion from $2.91 billion a year ago. Net income in the quarter fell 26% to $230.9 million or 52 cents per diluted share compared to net income of $312.7 million or 70 cents per share a year ago.

Dynegy Inc ((DYN)) surged 12.6% or 15 cents to $1.34 an energy company reported first quarter sales fell 5% to $858 million from $904 million a year ago. Net income in the quarter was $145 million or 24 cents per diluted share compared to net loss of $335 million or 40 cents per share a year ago.

Ford Motor Company ((F)) gained 6.6% or 77 cents to $12.28 after the EU agreed for a large bailout plan that may support economic revival in the euro zone where the company has significant customer base.

Fortress Investment Group LLC ((FIG)) surged 10.8% or 47 cents to $4.80 after the alternative asset manager was upgraded to “buy” from “neutral” by Goldman Sachs Group Inc.

Morgan Stanley ((MS)) increased 6.0% or $1.69 to $29.44.

Nike, Inc ((NKE)) rose 5.6% or $4.01 to $74.62 after the maker of athletic shoes was upgraded to “buy” from “neutral” at Sterne Agee & Leach Inc.

NRG Energy, Inc ((NRG)) climbed 3.8% or 86 cents to $23.50 after the wholesale power generation company reported first quarter sales rose 33.7% to $2.22 billion from $1.66 billion a year ago. Net income in the quarter fell 70.7% to $58 million or 22 cents per diluted share compared to net income of $198 million or 70 cents per share a year ago.

Nu Skin Enterprises, Inc ((NUS)) gained 9.0% or $2.44 to $29.42 after the distributor of personal care products and nutritional supplements was upgraded to “buy” from “hold” at Stifel Nicolaus & Co. Inc.

Sony Corporation ((SNE)) rose 1.8% or 60 cents to $33.50 after the electronics maker and movie studio operator reported forecast for the year ended March that net loss of 41 billion yen compared to net loss of 70 billion yen a year ago.

Starwood Hotels & Resorts Worldwide, Inc ((HOT)) fell 4.5% or $2.24 to $46.99.

SunPower Corporation ((SPWRA)) gained 6.6% or 95 cents to $15.30 after the supplier of solar modules was upgraded to “hold” from “sell” at Auriga.

Tyson Foods, Inc ((TSN)) added 4.8% or 90 cents to $19.52 after the meat producer reported second quarter sales rose 9.7% to $6.92 billion from $6.31 billion a year ago. Net income in the quarter was $159 million or 42 cents per diluted share compared to net loss of $119 million or 32 cents per share a year ago.

Watson Pharmaceuticals, Inc ((WPI)) the specialty pharmaceutical company reported first quarter net revenues rose 28.3% to $856.5 million from $667.4 million a year ago. Net income in the quarter rose 42% to $69.8 million or 57 cents per diluted share compared to net income of $49.1 million or 43 cents per share a year ago.

Zhongpin Inc ((HOGS)) rose 0.2% or 3 cents to $11.50 after the meat and food processing company reported first quarter profit excluding some items of 38 cents a share.