GameStop, Priceline Fall; Fossil Rises

Mayank Mehta
11 May, 2010
New York City

GameStop Corp led the decliners in the S&P 500 index with a loss of 13.8%. McDermott profit and sales declined. LDK Solar swings to profit . Fluor profit dips on lower oil and gas business. MBIA swings to net loss in first quarter.

[R]12:05 PM New York - GameStop Corp led the decliners in the S&P 500 index with a loss of 13.8%. McDermott profit and sales declined. LDK Solar swings to profit . Fluor profit dips on lower oil and gas business. MBIA swings to net loss in first quarter.[/R]

Of the stocks in S&P 500 index, 70 increased, 425 declined and 5 were unchanged.

GameStop Corp led the decliners in the S&P 500 index with a loss of 13.8% followed by losses in Dean Foods Company of 5.3% and in Cliffs Natural Resources Inc of 4.4%, in GameStop Corp of 4.0% and in Micron Technology, Inc of 3.9%.

Legg Mason, Inc led gainers in the S&P 500 index with a rise of 8.5% followed by gains in MetroPCS Communications, Inc 4.0%, in Newmont Mining Corporation of 3.8% and in Gilead Sciences, Inc 3.7%.

Other Movers

Air Transport Services Group Inc ((ATSG)) plunged 10.4% or 56 cents after the aircraft leasing company said first quarter revenues fell 23.5% to $161.9 million from $211.8 million a year ago. Net income in the quarter fell 35% to $7.2 million or 12 cents per diluted share compared to net income of $11.1 million or 18 cents per share a year ago.

American Dairy, Inc ((ADY)) plunged 11.9% or $2.08 to $15.30 after the Chinese producer of infant formula and milk powder posted first-quarter earnings per share 25 cents versus the analyst estimate of 31 cents lower of 13.4%.

Arena Resources, Inc ((ARD)) rose 0.8% or 28 cents to $32.56 after the oil and natural gas explorer said first quarter sales rose 156.4% to $51.8 million from $20.2 million a year ago. Net income in the quarter rose 178.5% to $18.1 million or 46 cents per diluted share compared to net income of $6.5 million or 17 cents per share a year ago.

Assured Guaranty Ltd ((AGO)) rose 0.1% or 2 cent to $20.00 after the bond insurer said first quarter revenues rose 181.3% to $683.9 million from $243.1 million a year ago. Net income in the quarter rose 276% to $322.0 million or $1.69 per diluted share compared to net income of $85.5 million or 93 cents per share a year ago.

Church & Dwight & Co. Inc ((CHD)) added 3.9% or $2.63 to $69.40 after the maker of household, personal care and specialty products reported first quarter sales rose 9% to $634.6 million from $581.0 million a year ago. Net income in the quarter rose 28% to $80.0 million or $1.11 per diluted share compared to net income of $62.6 million or 88 cents per share a year ago.

Cirrus Logic, Inc ((CRUS)) the supplier of parts for Apple’s iPhone and iPad increased 6.4% or 77 cents to $12.75.

Clear Channel Outdoor Holdings, Inc ((CCO)) increased 5.4% or 55 cents to $10.73 after the outdoor advertising company said first quarter revenues rose 4.6% to $608.8 million from $582.2 million a year ago. Net loss in the quarter was $47.8 million or 14 cents per diluted share compared to net loss of $87.9 million or 25 cents per share a year ago.

DTS, Inc ((DTSI)) climbed 4.7% or $1.52 to $33.79 after the provider of entertainment technologies said first quarter revenues rose 25.4% to $21.7 million from $17.3 million a year ago. Net income in the quarter was $3.8 million or 21 cents per diluted share compared to net income of $187,000 or 1 cent per share a year ago.

Fluor Corporation ((FLR)) decreased 3.7% or $1.82 to $47.14 after the construction and engineering company said first quarter revenues fell 15.5% to $4.9 billion from $5.8 billion a year ago. Net income in the quarter fell 33.3% to $136.6 million or 76 cents per diluted share compared to net income of $204.8 million or $1.12 per share a year ago.

Fossil, Inc ((FOSL)) surged 11.5% or $3.91 to $37.86 after the distributor of consumer fashion accessories reported first quarter sales rose 21.7% to $393.2 million from $323.0 million a year ago. Net income in the quarter rose 107.3% to $35.9 million or 53 cents per diluted share compared to net income of $17.3 million or 26 cents per share a year ago.

Healthcare Realty Trust ((HR)) gained 8.1% or $1.83 to $24.26 after the real estate investment trust said first quarter revenues rose 4% to $64.6 million from $62.1 million a year ago. Net income in the quarter fell 78% to $4.6 million or 8 cents per diluted share compared to net income of $21.0 million or 35 cents per share a year ago.

Hitachi, Ltd ((HIT)) traded unchanged at $43.21 after the consumer electronics maker said 2009 revenues fell 10% to ¥8.97 trillion from ¥10.0 trillion a year ago. Net loss in the year was ¥107 billion or ¥29.20 per diluted share compared to net loss of ¥787.3 billion or ¥236.87 per share a year ago.

Inter Parfums, Inc ((IPAR)) increased 8.5% or $1.32 to $16.68 after the fragrance maker said first quarter sales rose 32% to $119.4 million from $90.4 million a year ago. Net income in the quarter rose 22% to $6.6 million or 22 cents per diluted share compared to net income of $5.4 million or 18 cents per share a year ago.

InterContinental Hotels Group PLC ((IHG)) fell 2.5% or 41 cents to $16.00 an international hotel group said first quarter revenues rose 3% to $362 million from $351 million a year ago. Net income for the quarter rose 100% to $54 million or 18.3 cents per diluted share compared to net income of $27 million or 9.5 cents per share a year ago.

JA Solar Holdings Co., Ltd ((JASO)) gained 7.9% or 47 cents to $6.42 after the manufacturer of high-performance solar power product reported first quarter sales rose 727% to Rmb 1.91 billion from Rmb 231.7 million a year ago. Net income in the quarter was Rmb 262.1 million or Rmb 1.61 per diluted share compared to net loss of Rmb 201 million or Rmb1.25 per share a year ago.

LDK Solar Co. Ltd ((LDK)) surged 12.6% or 78 cents to $6.96 after the maker of wafers for solar cells said first quarter sales rose 14% to $347.6 million from $304.6 million a year ago. Net income in the quarter was $7.2 million or 6 cents per ADS compared to net loss of $13.2 million or 12 cents per ADS a year ago.

Legg Mason, Inc ((LM)) gained 7.8% or $2.17 to $29.95 after the asset management company said fourth quarter revenues rose 9% to $671.4 million from $617.2 million a year ago. Net income in the quarter was $63.6 million or 39 cents per diluted share compared to net loss of $330.2 million or $2.33 per share a year ago.

Maidenform Brands, Inc ((MFB)) climbed 5.5% or $1.20 to $23.00 after the global branded marketer of intimate apparel reported first quarter sales rose 25% to $142.9 million from $114.2 million a year ago. Net income in the quarter rose 102% to $12.1 million or 51 cents per diluted share compared to net income of $6.0 million or 26 cents per share a year ago.

MBIA Inc ((MBI)) slipped 9.1% or 85 cents to $8.48 after the insurer said first quarter revenues were at loss of $1.86 billion from income of $1.93 billion a year ago. Net loss in the quarter was $1.5 billion or $7.22 per diluted share compared to net income of $696.7 million or $3.34 per share a year ago.

McDermott International, Inc ((MDR)) fell 0.4% or 12 cents to $25.00 after the engineering and construction company said first quarter revenues fell 21% to $1.18 billion from $1.49 billion a year ago. Net income in the quarter fell 23% to $59.9 million or 26 cents per diluted share compared to net income of $77.7 million or 33 cents per share a year ago.

Nuance Communications, Inc ((NUAN)) dropped 5.3% or 93 cents to $16.45 after the speech-recognition software maker said second quarter revenues rose 19% to $273.0 million from $229.1 million a year ago. Net loss in the quarter was $15.4 million or 5 cents per diluted share compared to net income of $5.3 million or 2 cents per share a year ago.

Pan American Silver Corp ((PAAS)) rose 2.9% or 73 cents to $25.90 after the silver mining company said first quarter sales rose 88% to $132.4 million from $70.4 million a year ago. Net income in the quarter rose 189% to $19.1 million or 18 cents per diluted share compared to net income of $6.6 million or 8 cents per share a year ago.

Priceline.com Incorporated ((PCLN)) plunged 12.1% or $30.24 to $219.51 after the online travel agency is pleased with the strong growth reflected in our second quarter guidance despite the impact of several negative external factors. The Iceland volcano caused widespread disruptions in air travel which resulted in a significant increase in hotel room cancellations for our Booking.com business.

The Warnaco Group, Inc ((WRC)) fell 1.6% or 73 cents to $44.13 after the underwear and jeans maker said first quarter revenues rose 9.4% to $588.2 million from $537.8 million a year ago. Net income in the quarter rose 27.6% to $48.0 million or $1.02 per diluted share compared to net income of $37.6 million or 81 cents per share a year ago.

Zale Corporation ((ZLC)) surged 9.8% or 27 cents to $3.00 after the jewelry chain announced that it has closed on a new $150 million, five year senior secured term loan provided by Golden Gate Capital a private equity firm active in retail sector.