Ford, Citigroup Gain; Abercrombie Declines

Mayank Mehta
26 May, 2010
New York City

Abercrombie & Fitch Co. led the decliners in the S&P 500 index with a loss of 1.6%. FIS board authorizes $2.5 billion share repurchase plan. Toll results boost shares in premarket. Energy stocks recover after recent losses.

[R]11:00 AM New York - Abercrombie & Fitch Co. led the decliners in the S&P 500 index with a loss of 1.6%. FIS board authorizes $2.5 billion share repurchase plan. Toll results boost shares in premarket. Energy stocks recover after recent losses.[/R]

Of the stocks in S&P 500 index, 455 increased, 41 declined and 4 were unchanged.

Abercrombie & Fitch Co. led the decliners in the S&P 500 index with a loss of 1.6% followed by losses in Integrys Energy Group, Inc. of 1.5% and in Sprint Nextel Corporation of 1.5%, in Monsanto Company of 1.1% and in DENTSPLY International Inc. of 1.0%.

Ford Motor Company led gainers in the S&P 500 index with a rise of 6.4% followed by gains in Citigroup Inc. of 6.3%, in MEMC Electronic Materials, Inc. of 5.8% and in Fidelity National Information Services, Inc. of 5.4%.

Other Movers

American Eagle Outfitters, Inc. ((AEO)) decreased 6.7% or $1.02 to $14.36. The teen clothing chain reported first quarter sales rose 8% to $659.5 million from $612 million a year ago. Net income in the quarter fell 50% to $11.0 million or 5 cents per diluted share compared to net income of $22.0 million or 11 cents per share a year ago.

American International Group, Inc. ((AIG)) rose 1.3% or 48 cents to $34.97 after the insurer is considering selling its stake in a housing portfolio of nearly 17,000 apartments.

Bank of Montreal ((BMO)) rose 1.8% or $1.00 to $56.65 after the bank reported second quarter revenues rose 687% to $3.1 billion from $394.0 million a year ago. Net income in the quarter rose 92.5% to $745.0 million or $1.26 per diluted share compared to net income of $387.0 million or 65 cents per share a year ago.

Brown Shoe Company, Inc. ((BWS)) added 2.9% or 51 cents to $17.71 after the footwear retailer reported first quarter sales rose 11% to $597.7 million from $538.7 million a year ago. Net income in the quarter was $10.0 million or 23 cents per diluted share compared to net loss of $7.6 million or 18 cents per share a year ago.

Dycom Industries, Inc. ((DY)) added 3.5% or 30 cents to $8.80. The telecommunications contractor said third quarter revenues fell 10.1% to $231.6 million from $257.7 million a year ago. Net income in the quarter fell 79% to $1.6 million or 4 cents per diluted share compared to net income of $7.6 million or 19 cents per share a year ago.

Fidelity National Information Services, Inc. ((FIS)), the payment-processor gained 6.3% or $1.69 to $28.25.

Fred’s, Inc. ((FRED)) traded unchanged at $13.17 after the merchandise store reported first quarter sales rose 3% to $471.6 million from $458.4 million a year ago. Net income in the quarter fell 4.7% to $8.2 million or 21 cents per diluted share compared to net income of $8.6 million or 21 cents per share a year ago.

GTx, Inc. ((GTXI)) plunged 32.4% or 98 cents to $2.04. The developer of a prostate-cancer drug announced top line results of Phase III clinical trial evaluating toremifene 20 mg for the prevention of prostate cancer in men with high grade PIN.

HEICO Corporation ((HEI)) dropped 3.1% or $1.23 to $37.88. The aerospace and defense company said second quarter sales rose 18% to $153.8 million from $130.2 million a year ago. Net income in the quarter rose 20% to $12.6 million or 37 cents per diluted share compared to net income of $10.5 million or 31 cents per share a year ago.

IXYS Corporation ((IXYS)) surged 10.3% or 88 cents to $9.35 after the semiconductor maker said fourth quarter revenues rose 31.6% to $76.6 million from $58.2 million a year ago. Net income in the quarter was $4.0 million or 13 cents per diluted share compared to net loss of $11.0 million or 36 cents per share a year ago.

Netezza Corporation ((NZ)) gained 8.0% or $1.06 to $14.22 after the data storage company said first quarter revenues rose 28% to $58.1 million from $45.4 million a year ago. Net income in the quarter was $2.8 million or 4 cents per diluted share compared to net loss of $237,000 or break even share a year ago.

NVIDIA Corporation ((NVDA)) added 4.0% or 51 cents to $13.20 after the maker of graphics chips was upgraded to “outperform” from “market perform” at FBR Capital Markets.

TiVo Inc. ((TIVO)) slipped 2.4% or 22 cents to $8.93. The digital video recorder said first quarter revenues rose 11.4% to $61.4 million from $55.1 million a year ago. Net loss in the quarter was $14.2 million or 13 cents per diluted share compared to net loss of $3.9 million or 4 cents per share a year ago.

Toll Brothers, Inc. ((TOL)) rose 3.3% or 69 cents to $21.30. The luxury homebuilder reported second quarter revenues fell 22% to $311.3 million from $398.3 million a year ago. Net loss in the quarter was $40.4 million or 24 cents per diluted share compared to net loss of $83.2 million or 52 cents per share a year ago.

Vertex Pharmaceuticals Incorporated ((VRTX)), the drugmaker surged 12.8% or $4.36 to $38.31.

WSP Holdings Limited ((WH)) decreased 12.8% or 25 cents to $1.70 after the manufacturer of oil and natural gas exploration and drilling products said first quarter revenues fell 69% to $61.0 million from $195.5 million a year ago. Net loss in the quarter was $27.0 million or 26 cents per ADS compared to net income of $21.4 million or 21 cents per ADS a year ago.

Zale Corporation ((ZLC)) surged 10.0% or 27 cents to $2.95. The specialty retailer of fine jewelry reported third quarter revenues fell 5% to $359.8 million from $379.1 million a year ago. Net loss in the quarter was $12.1 million or 38 cents per diluted share compared to net loss of $19.5 million or 61 cents per share a year ago.