Ann Taylor, Marvell Gain; Brocade Falls

Mayank Mehta
21 May, 2010
New York City

Brocade Communications Systems, Inc. led the decliners in the S&P 500 index with a loss of 12.9%. Aeropostale''s first-quarter profit jumps 43%. Brocade swings to a profit as sales dip. Salesforce.com net slips though sales rise 24%.

[R]11:00 AM New York - Brocade Communications Systems, Inc. led the decliners in the S&P 500 index with a loss of 12.9%. Aeropostale''s first-quarter profit jumps 43%. Brocade swings to a profit as sales dip. Salesforce.com net slips though sales rise 24%.[/R]

Of the stocks in S&P 500 index, 8 increased, 492 declined and none were unchanged.

Brocade Communications Systems, Inc. led the decliners in the S&P 500 index with a loss of 12.9% followed by losses in Liberty Media Corporation of 7.2% and in Mechel OAO PRFD of 6.9%, in Direxion Daily Financial Bear 3x Shares of 5.3% and in Dell Inc. of 5.3%.

CNinsure Inc. led gainers in the S&P 500 index with a rise of 12.2% followed by gains in Marvell Technology Group Ltd. of 8.7%, in DG FastChannel, Inc. of 7.6% and in AnnTaylor Stores Corp of 7.2%.

Other Movers

Aeropostale, Inc. ((ARO)) decreased 1.8% or 51 cents to $26.78. The teen clothing retailer said first quarter sales rose 13.6% to $463.6 million from $408.0 million a year ago. Net income in the quarter rose 43% to $45.4 million or 48 cents per diluted share compared to net income of $31.7 million or 31 cents per share a year ago.

AnnTaylor Stores Corp. ((ANN)) rose 0.3% or 7 cents to $20.30 after the women''s clothing retailer reported first quarter sales rose 11.5% to $476.2 million from $426.7 million a year ago. Net income in the quarter was $22.6 million or 38 cents per diluted share compared to net loss of $2.3 million or 4 cents per share a year ago.

AvalonBay Communities, Inc. ((AVB)), the real estate investment trust decreased 6.2% or $6.10 to $91.68.

Boston Scientific Corporation ((BSX)) rose 0.3% or 2 cents to $6.36 after the medical device maker announced the U.S. and European launches of the Sterling® SL PTA Balloon Dilatation Catheter, a high-performance balloon dilatation catheter designed for use in peripheral angioplasty procedures below the knee.

Brocade Communications Systems, Inc. ((BRCD)) dropped 6.4% or 38 cents to $5.49 after the supplier of data center networking solutions said second quarter revenues fell 1% to $501 million from $506.3 million a year ago. Net income in the quarter was $22.4 million or 5 cents per diluted share compared to net loss of $66.1 million or 17 cents per share a year ago.

CenturyTel, Inc. ((CTL)), the phone company rose 0.9% 32 cents to $33.25.

Carnival Corporation ((CCL)) rose 0.7% or 26 cents to $35.38 after the cruise operator was upgraded to “neutral” from “sell” at Goldman Sachs Group Inc.

ConocoPhillips ((COP)), the oil company fell 0.6% or 33 cents to $50.60.

The Gap, Inc. ((GPS)) fell 1.6% or 35 cents to $21.39. The clothing retailer said first quarter sales rose 6.4% to $3.33 billion from $3.13 billion a year ago. Net income in the quarter rose 40.5% to $302 million or 45 cents per diluted share compared to net income of $215 million or 31 cents per share a year ago.

Hibbett Sports, Inc. ((HIBB)) dropped 5.6% or $1.52 to $25.34. The sporting goods retailer reported first quarter sales rose 17% to $184.5 million from $157.7 million a year ago. Net income in the quarter rose 58.7% to $17.3 million or 59 cents per diluted share compared to net income of $10.9 million or 38 cents per share a year ago.

Dell Inc. ((DELL)) fell 4.4% or 66 cents to $14.32. The computer maker said first quarter sales rose 21% to $14.9 billion from $12.3 billion a year ago. Net income in the quarter rose 52% to $441 million or 22 cents per diluted share compared to net income of $290 million or 15 cents per share a year ago.

Intuit Inc. ((INTU)) fell 5.1% or $1.82 to $33.75. The provider of business and financial management solutions said third quarter revenues rose 13.4% to $1.61 billion from $1.42 billion a year ago. Net income in the quarter rose 19% to $576 million or $1.78 per diluted share compared to net income of $485 million or $1.47 per share a year ago.

Marvell Technology Group Ltd. ((MRVL)) fell 3.6% or 67 cents to $17.84. The chip maker said first quarter sales rose 64% to $855.6 million from $521.4 million a year ago. Net income in the quarter was $205.8 million or 30 cents per diluted share compared to net loss of $111.5 million or 18 cents per share a year ago.

Morgan Stanley ((MS)), the financial services company fell 1.4% or 39 cents to $252.25.

Nordson Corporation ((NDSN)) rose 5.0% or $3.17 to $66.00 after the maker of adhesive application equipment said second quarter sales rose 33% to $251.7 million from $188.8 million a year ago. Net income in the quarter rose 135% to $32.4 million or 94 cents per diluted share compared to net income of $13.8 million or 41 cents per share a year ago.

Salesforce.com, Inc. ((CRM)) dropped 5.1% or $4.08 to $74.95. The online business software maker said first quarter revenues rose 23.6% to $376.8 million from $304.9 million a year ago. Net income in the quarter fell 4% to $17.7 million or 13 cents per diluted share compared to net income of $18.4 million or 15 cents per share a year ago.

Tech Data Corporation ((TECD)) added 3.3% or $1.33 to $40.80 after the computer products distributor reported first quarter sales rose 12.6% to $5.62 billion from $4.99 billion a year ago. Net income in the quarter rose 43.4% to $45.6 million or 88 cents per diluted share compared to net income of $31.8 million or 63 cents per share a year ago.