Google, DreamWorks Fall; Sprint, Yingli Gain

Mayank Mehta
24 May, 2010
New York City

Sprint Nextel Corporation led gainers in the S&P 500 index with a rise of 5.3%. Campbell Soup profit dips in recent quarter. DreamWorks Animation SKG Inc dropped as much as 14% after the latest movie reported lower than expected weekend revenues.

[R]11:00 AM New York - Sprint Nextel Corporation led gainers in the S&P 500 index with a rise of 5.3%. Campbell Soup profit dips in recent quarter. DreamWorks Animation SKG Inc dropped as much as 14% after the latest movie reported lower than expected weekend revenues.[/R]

Of the stocks in S&P 500 index, 95 increased, 401 declined and 4 were unchanged.

Janus Capital Group Inc. led the decliners in the S&P 500 index with a loss of 4.6% followed by losses in Wells Fargo & Company of 3.2% and in Franklin Resources, Inc. of 3.0%, in BB&T Corporation of 2.7% and in Celgene Corporation of 2.5%.

Sprint Nextel Corporation led gainers in the S&P 500 index with a rise of 5.3% followed by gains in Tenet Healthcare Corporation of 3.3%, in Citigroup Inc. of 2.5% and in Google Inc. of 2.3%.

Other Movers

Arch Coal, Inc. ((ACI)), the coal company added 4.2% or 84 cents to $20.51.

Campbell Soup Company ((CPB)) declined 0.8% or 30 cents to $35.16. The soup maker reported third quarter sales rose 6.5% to $1.80 billion from $1.69 billion a year ago. Net income in the quarter fell 3.4% to $168.0 million or 49 cents per diluted share compared to net income of $174.0 million or 49 cents per share a year ago.

DreamWorks Animation SKG Inc ((DWA)) dropped 9.4% to $31.59 after the weekend revenues of the movie “Shrek Forever After” were $71.3 million, lower than market expectations.

Google Inc. ((GOOG)), the search engine fell 2.1% or $9.57 to $482.00 after Citigroup recommended the stock.

Intuitive Surgical, Inc. ((ISRG)) rose 1.1% or $3.72 to $324.80 after the surgical-system maker was upgraded to “buy” from “hold” at Lazard Capital Markets Ltd.

KKR Financial Holdings LLC ((KFN)), the specialty-finance company increased 5.8% or 44 cents to $8.00.

Janus Capital Group Inc. ((JNS)) fell 3.6% or 41 cents to $10.95 after the owner of the Janus, Intech and Perkins funds was downgraded to “sell” from “neutral” at Goldman Sachs Group Inc.

Leap Wireless International, Inc. ((LEAP)) added 4.4% or 72 cents to $17.02 after the pay-as-you-go mobile-phone carrier was upgraded to “outperform” from “market perform” at Raymond James Financial Inc.

Lockheed Marin Corporation ((LMT)), the defense contractor dropped 1.8% or $1.49 to $79.67.

Longtop Financial Technologies Limited ((LFT)) rose 0.3% or 11 cents to $31.15 after the financial software developer reported fourth quarter revenues rose 66.4% to $43.1 million from $25.9 million a year ago. Net income in the quarter fell 31.8% to $6.0 million or 10 cents per diluted share compared to net income of $8.8 million or 17 cents per share a year ago.

Odyssey HealthCare, Inc. ((ODSY)) increased 36.9% or $7.13 to $26.42 after the Gentiva Health Services, Inc. and the company announced today that they have entered into a merger agreement that values the company at $27 a share or $1 billion.

Sprint Nextel Corporation ((S)) gained 6.1% or 27 cents to $4.68 after mobile-phone carrier was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

Wells Fargo & Company ((WFC)) fell 0.3% or 11 cents to $30.00 after the motgage lender was downgraded to “neutral” from “buy” at Goldman Sachs Group Inc.

Yingli Green Energy Holding Company Limited ((YGE)) added 3.5% or 34 cents to $9.91 after the solar panel maker reported first quarter revenues rose 145% to Rmb 2.45 billion from Rmb 1.0 billion a year ago. Net income in the quarter was Rmb 190.9 million or Rmb 1.24 per ADS compared to net loss of Rmb 141.6 million or Rmb 1.11 per ADS a year ago.