EMC, Sara Lee Fall; Goldman Sachs Rises

Mayank Mehta
25 May, 2010
New York City

AutoZone, Inc. led gainers in the S&P 500 index with a rise of 3.8%. Medtronic profit up sharply and revenue tops $4 billion. Donaldson''s quarterly net income jumps 86%. Phillips-Van Heusen swings to first quarter loss.

[R]11:00 AM New York - AutoZone, Inc. led gainers in the S&P 500 index with a rise of 3.8%. Medtronic profit up sharply and revenue tops $4 billion. Donaldson''s quarterly net income jumps 86%. Phillips-Van Heusen swings to first quarter loss.[/R]

Of the stocks in S&P 500 index, 3 increased, 496 declined and 1 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 Monster Worldwide, Inc. of 6.5% and in Cliffs Natural Resources Inc. of 6.4%, in Legg Mason, Inc. of 5.8% and in Pactiv Corporation of 5.7%.

AutoZone, Inc. led gainers in the S&P 500 index with a rise of 3.8% followed by gains in The Goldman Sachs Group, Inc. of 0.8%, in Newmont Mining Corporation of 0.08% and in Millipore Corporation of 0.07%.

Other Movers

AAR Corp ((AIR)), the aircraft parts and maintenance provider plunged 10.7% or $2.36 to $19.68.

AutoZone, Inc. ((AZO)) fell 0.2% or 44 cents to $183.81. The manufacturer of automotive replacement parts reported third quarter sales rose 9.6% to $1.82 billion from $1.66 billion a year ago. Net income in the quarter rose 16.7% to $202.7 million or $4.12 per diluted share compared to net income of $173.7 million or $3.13 per share a year ago.

Cracker Barrel Old Country Store, Inc. ((CBRL)) traded unchanged at $50.01 after the restaurant developer reported third quarter revenues rose 1.9% to $578.2 million from $567.6 million a year ago. Net income in the quarter rose 20% to $14.4 million or 61 cents per diluted share compared to net income of $12.0 million or 52 cents per share a year ago.

ChinaEdu Corporation ((CEDU)) fell 0.1% or 1 cent to $7.16. The educational service provider said first quarter revenues rose 7.5% to Rmb 87.3 million from Rmb 81.2 million a year ago. Net income in the quarter fell 25% to Rmb 7.2 million or 42 cents per ADS compared to net income of Rmb 9.6 million or 54 cents per ADS a year ago.

CNinsure Inc. ((CISG)) increased 8.3% or $1.90 to $24.57 after the insurance agency and brokerage firm said first quarter revenues rose 30.6% to Rmb 282.0 million from Rmb 215.9 million a year ago. Net income in the quarter rose 48% to Rmb 67.3 million or Rmb 1.43 per ADS compared to net income of Rmb 45.5 million or Rmb 1.00 per ADS a year ago.

Donaldson Company, Inc. ((DCI)) fell 0.4% or 17 cents to $42.00. The maker of filtration systems for engines and industrial products said third quarter sales rose 20.3% to $497.6 million from $413.4 million a year ago. Net income in the quarter rose 86% to $49.5 million or 62 cents per diluted share compared to net income of $26.6 million or 34 cents per share a year ago.

DSW Inc. ((DSW)) rose 0.8% or 24 cents to $27.60 after the shoe retailer reported first quarter sales rose 16.5% to $449.5 million from $385.8 million a year ago. Net income in the quarter rose 325% to $30.2 million or 67 cents per diluted share compared to net income of $7.1 million or 16 cents per share a year ago.

EMC Corporation ((EMC)) dropped 3.1% or 56 cents to $17.50 after the maker of storage computers was downgraded to “neutral” from “overweight” at JPMorgan Chase & Co.

Flowers Foods, Inc. ((FLO)) traded unchanged at $26.00 after the producer and marketer of bakery products reported first quarter sales fell 1.5% to $795.0 million from $807.0 million a year ago. Net income in the quarter rose 8.8% to $40.7 million or 44 cents per diluted share compared to net income of $37.4 million or 40 cents per share a year ago.

Medtronic, Inc. ((MDT)) rose 0.4% or 20 cents to $40.84 after the medical-device company reported fourth quarter sales rose 9.7% to $4.2 billion from $3.83 billion a year ago. Net income in the quarter rose 826% to $954.0 million or 86 cents per diluted share compared to net income of $103.0 million or 9 cents per share a year ago.

Neurocrine Biosciences, Inc. ((NBIX)) surged 48.3% or $1.32 to $4.05 after the drug company announced statistically significant and clinically meaningful top-line efficacy results from its Phase II Daisy PETAL study (901 study) using its proprietary, orally-active nonpeptide Gonadotropin-Releasing Hormone (GnRH) receptor antagonist, elagolix, in patients with endometriosis.

Phillips-Van Heusen Corporation ((PVH)) declined 3.7% or $2.05 to $52.23. The clothing company said first quarter revenues rose 11% to $619.0 million from $557.4 million a year ago. Net loss in the quarter was $27.6 million or 53 cents per diluted share compared to net income of $24.7 million or 48 cents per share a year ago.

Sara Lee Corporation ((SLE)) fell 1.5% or 22 cents to $14.36 after the food and beverage maker today announced that it plans to amend the timing of its calendar 2010 share purchases by using a portion of the proceeds from each pending Household & Body Care (H&BC) transaction to repurchase up to $800 million of shares.

Sanderson Farms, Inc. ((SAFM)) fell 3.3% or $1.82 to $52.00. The poultry producer reported second quarter sales rose 14.1% to $487.1 million from $426.8 million a year ago. Net income in the quarter rose 34% to $35.1 million or $1.62 per diluted share compared to net income of $26.2 million or $1.25 per share a year ago.

Sun Healthcare Group, Inc. ((SUNH)) rose 3.0% or 25 cents to $8.41 after the care provider today announced that it intends to separate the company into two separate publicly traded companies.

Telvent GIT, S.A ((TLVT)), the IT company fell 0.7% or 18 cents to $22.68.

Trina Solar Limited ((TSL)) fell 5.2% or 90 cents to $16.76. The producer of monocrystalline photovoltaic modules reported first quarter revenues rose 155% to $336.8 million from $132.1 million a year ago. Net income in the quarter was $44.5 million or 66 cents per ADS compared to net loss of $11.0 million or 22 cents per ADS a year ago.

UQM Technologies, Inc. ((UQM)) closed unchanged at $3.67after the maker of generators and electric motors said full year revenues fell 0.3% to $8.69 million from $8.72 million a year ago. Net loss in the year was $4.1 million or 13 cents per diluted share compared to net loss of $4.4 million or 17 cents per share a year ago.