Tiffany, Yahoo Gain; J&J Falls

Mayank Mehta
27 May, 2010
New York City

NetApp, Inc. led gainers in the S&P 500 index with a rise of 13.0%. Heinz fourth quarter net up 10% and sales up 8.3%. Big Lots quarterly profits rise. Costco third quarter net up 46% and comp sales up 10%. Jo-Ann Stores doubles profit.

[R]11:00 AM New York - NetApp, Inc. led gainers in the S&P 500 index with a rise of 13.0%. Heinz fourth quarter net up 10% and sales up 8.3%. Big Lots quarterly profits rise. Costco third quarter net up 46% and comp sales up 10%. Jo-Ann Stores doubles profit.[/R]

Of the stocks in S&P 500 index, 493 increased, 7 declined and none were unchanged.

Monsanto Company led the decliners in the S&P 500 index with a loss of 7.0% followed by losses in M&T Bank Corporation of 0.5% and in Invesco Ltd. of 0.4%, in Lorillard, Inc. of 0.4% and in Johnson & Johnson of 0.4%.

NetApp, Inc. led gainers in the S&P 500 index with a rise of 13.0% followed by gains in Tiffany & Co. of 6.7%, in Cabot Oil & Gas Corporation of 5.2% and in National Oilwell Varco, Inc. of 5.1%.

Other Movers

99 Cents Only Stores ((NDN)) added 3.6% or 53 cents to $15.16 after the discount retailer said fourth quarter revenues rose 3% to $339.3 million from $329.2 million a year ago. Net income in the quarter rose 141.4% to $16.9 million or 24 cents per diluted share compared to net income of $7.0 million or 10 cents per share a year ago.

Bank of America Corporation ((BAC)) added 2.3% or 37 cents to $15.84.

Big Lots, Inc. ((BIG)) fell 2.8% or 91 cents to $34.96. The closeout retailer reported first quarter sales rose 8.8% to $1.24 billion from $1.14 billion a year ago. Net income in the quarter rose 54.4% to $55.9 million or 68 cents per diluted share compared to net income of $36.2 million or 44 cents per share a year ago.

Canadian Imperial Bank of Commerce ((CM)) dropped 0.9% or 66 cents to $69.72. The diversified financial institution reported second quarter sales rose 35% to $2.92 billion from $2.16 billion a year ago. Net income in the quarter was $660 million or $1.59 per diluted share compared to net loss of $51 million or 24 cents per share a year ago.

Central European Media Enterprises Ltd. ((CETV)), the Czech television broadcaster added 6.9% or $1.57 to $24.04.

Citigroup Inc. ((C)) rose 2.5% or 10 cents to $3.96 after the bank was upgraded to “outperform” from “perform” at Oppenheimer & Co.

Costco Wholesale Corporation ((COST)) rose 2.5% or $1.43 to $57.41 after the wholesale club operator reported third quarter revenues rose 12.5% to $17.78 billion from $15.81 billion a year ago. Net income in the quarter rose 45.7% to $306 million or 68 cents per diluted share compared to net income of $210 million or 48 cents per share a year ago.

DreamWorks Animation SKG, Inc. ((DWA)) rose 0.6% or 20 cents to $29.25. The maker of the “Shrek” animated movies was downgraded to “hold” from “buy” at Jefferies & Co.

The Dress Barn, Inc. ((DBRN)) fell 3.0% or 84 cents to $26.63. The women''s clothing retailer said third quarter sales rose 77% to $665.5 million from $375.7 million a year ago. Net income in the quarter rose 108% to $48.0 million or 59 cents per diluted share compared to net income of $23.1 million or 37 cents per share a year ago.

Electro-Optical Sciences, Inc. ((MELA)), the medical device maker surged 25.3% or $1.53 to $7.57.

Genesco Inc. ((GCO)) gained 6.0% or $1.74 to $30.72 after the shoe and hat retailer reported first quarter sales rose 8% to $400.9 million from $370.4 million a year ago. Net income in the quarter was $8.6 million or 36 cents per diluted share compared to net loss of $5.8 million or 31 cents per share a year ago.

H. J. Heinz Company ((HNZ)) added 1.6% or 74 cents to $45.00 after the food maker reported fourth quarter sales rose 8% to $2.72 billion from $2.52 billion a year ago. Net income in the quarter rose 10% to $192.4 million or 60 cents per diluted share compared to net income of $175.1 million or 55 cents per share a year ago.

Jo-Ann Stores, Inc. ((JAS)) advanced 4.7% or $2.02 to $44.72 after the retailer of fabrics and crafts said first quarter sales rose 4.4% to $480.3 million from $460.0 million a year ago. Net income in the quarter rose 111.6% to $18.2 million or 66 cents per diluted share compared to net income of $8.6 million or 33 cents per share a year ago.

Microsoft Corporation ((MSFT)) rose 2.2% or 56 cents to $25.57 after the software maker was upgraded to “outperform” from “market perform” at FBR Capital Markets Corp.

NetApp, Inc. ((NTAP)) climbed 4.2% or $1.37 to $33.80 after the provider of storage and data management solutions said fourth quarter revenues rose 33% to $1.17 billion from $879.6 million a year ago. Net income in the quarter rose 112% to $145.1 million or 40 cents per diluted share compared to net income of $68.4 million or 21 cents per share a year ago.

Rambus Inc. ((RMBS)) declined 6.8% or $1.70 to $23.19.

Rex Stores Corporation ((RSC)) added 6.1% or 95 cents to $16.43 after the specialty retailer reported first quarter sales rose 402% to $71.3 million from $14.2 million a year ago. Net income in the quarter was $4.2 million or 42 cents per diluted share compared to net loss of $1.7 million or 19 cents per share a year ago.

Royal Bank of Canada ((RY)) fell 2.5% or $1.45 to $53.93. The financial company reported first quarter revenues rose 4% to $7.33 billion from $7.06 billion a year ago. Net income in the quarter rose 33.6% to $1.43 billion or $1.00 per diluted share compared to net income of $1.07 billion or 78 cents per share a year ago.

Semtech Corporation ((SMTC)) rose 3.7% or 67 cents to $18.61 after the chipmaker said first quarter sales rose 70% to $101.9 million from $60.1 million a year ago. Net income in the quarter rose 116% to $10.8 million or 17 cents per diluted share compared to net income of $5.0 million or 8 cents per share a year ago.

Sigma Designs, Inc. ((SIGM)) fell 0.9% or 10 cents to $10.31. The chip designer said first quarter revenues rose 27.3% to $65.2 million from $51.2 million a year ago. Net income in the quarter fell 59.3% to $1.1 million or 4 cents per diluted share compared to net income of $2.7 million or 10 cents per share a year ago.

The Toronto-Dominion Bank ((TD)) rose 0.7% or 48 cents to $68.83 after the bank reported second quarter revenues rose 10% to $4.77 billion from $4.33 billion a year ago. Net income in the quarter rose 124% to $1.13 billion or $1.30 per diluted share compared to net income of $504.0 million or 59 cents per share a year ago.

Tiffany & Co. ((TIF)) rose 4.3% or $1.91 to $45.50 after the jewelry chain reported first quarter sales rose 22.4% to $633.6 million from $517.6 million a year ago. Net income in the quarter rose 165% to $64.4 million or 50 cents per diluted share compared to net income of $24.3 million or 20 cents per share a year ago.

Under Armour, Inc. ((UA)) increased 7.9% or $2.48 to $33.56 after the maker of athletic apparel was upgraded to “buy” from “neutral” at UBS AG.

VeriFone Holdings, Inc. ((PAY)) increased 4.5% or 79 cents to $18.10 after the electronic payment technology provider said first quarter revenues rose 19.4% to $240.7 million from $201.6 million a year ago. Net income in the quarter rose 89% to $20.2 million or 23 cents per diluted share compared to net income of $10.7 million or 13 cents per share a year ago.

Yahoo! Inc ((YHOO)), the internet search engine rose 2.2% or 35 cents to $15.80.