Best Buy, CA Decline; Amgen, Apple Rise

Mayank Mehta
02 Jun, 2010
New York City

Best Buy Co., Inc. led the decliners in the S&P 500 index with a loss of 3.6%. Energy stocks rise. JoS A Bank profit up 38%. Lionsgate fiscal 2010 loss narrows to $19.5 million.

[R]11:00 AM New York - Best Buy Co., Inc. led the decliners in the S&P 500 index with a loss of 3.6%. Energy stocks rise. JoS A Bank profit up 38%. Lionsgate fiscal 2010 loss narrows to $19.5 million.[/R]

Of the stocks in S&P 500 index, 345 increased, 147 declined and 8 were unchanged.

Best Buy Co., Inc. led the decliners in the S&P 500 index with a loss of 3.6% followed by losses in CA, Inc. of 2.8% and in Sears Holdings Corporation of 1.7%, in Molex Incorporated of 1.6% and in Polo Ralph Lauren Corporation of 1.5%.

Smith International, Inc. led gainers in the S&P 500 index with a rise of 6.2% followed by gains in Amgen Inc. of 5.4%, in Halliburton Company of 5.3% and in Schlumberger Limited of 5.3%.

Other Movers

Advanced Micro Devices, Inc. ((AMD)), the computer-processor maker rose 0.61% or 5 cents to $8.19.

Amgen Inc. ((AMGN)) rose 7.0% or $3.58 to $54.34 after the biotechnology company announced that the U.S. Food and Drug Administration has approved Prolia(TM) for the treatment of postmenopausal women with osteoporosis at high risk for fracture, defined as a history of osteoporotic fracture, or multiple risk factors for fracture; or patients who have failed or are intolerant to other available osteoporosis therapy.

Apple Inc. ((AAPL)) rose 1.4% or $3.64 to $264.47 after the company announced that iPadâ„¢ sales have topped two million in less than 60 days since its launch on April 3.

Baxter International Inc. ((BAX)), the maker of treatments for immune system disorders fell 1.6% or 69 cents to $41.54.

Canadian Solar Inc. ((CSIQ)), the maker of solar power cells and modules plunged 17.7% or $2.11 to $9.75.

Collective Brands, Inc. ((PSS)) decreased 9.5% or $2.05 to $19.50. The footwear retailer said first quarter sales rose 2% to $878.8 million from $862.9 million a year ago. Net income in the quarter rose 42.6% to $54.2 million or 83 cents per diluted share compared to net income of $38.0 million or 59 cents per share a year ago.

Daktronics, Inc. ((DAKT)) dropped 3.8% or 31 cents to $7.77 after the display systems maker reported fourth quarter sales fell 24% to $92.0 million from $121.1 million a year ago. Net loss in the quarter was $4.9 million or 12 cents per diluted share compared to net income of $344,000 or 1 cent per share a year ago.

DivX, Inc. ((DIVX)) surged 29.0% or $2.03 to $8.97 after the company today jointly announced that they have signed a merger agreement for Sonic Solutions to acquire DivX, Inc., a leading digital media company, based in San Diego, California.

EnerSys ((ENS)) declined 3.2% or 72 cents to $21.78. The industrial battery maker said fourth quarter sales rose 14.6% to $450.5 million from $393.2 million a year ago. Net income in the quarter rose 612% to $17.8 million or 36 cents per diluted share compared to net income of $2.5 million or 5 cents per share a year ago.

Hercules Offshore, Inc. ((HERO)) gained 6.6% or 17 cents to $2.73 after the oil and natural gas drilling services company was upgraded to “outperform” from “market perform” at Raymond James & Associates Inc.

Hawkins, Inc. ((HWKN)) fell 5.4% or $1.47 to $25.43 after the industrial chemicals maker said fourth quarter sales fell 14.5% to $58.0 million from $67.8 million a year ago. Net income in the quarter rose 8% to $5.5 million or 54 cents per diluted share compared to net income of $5.1 million or 50 cents per share a year ago.

Jos. A. Bank Clothiers, Inc. ((JOSB)) added 3.3% or $2.05 to $62.69 after the clothing maker reported first quarter sales rose 10% to $178.1 million from $162.0 million a year ago. Net income in the quarter rose 37.4% to $15.8 million or 85 cents per diluted share compared to net income of $11.5 million or 62 cents per share a year ago.

Joy Global Inc. ((JOYG)) increased 5.5% or $2.80 to $51.10 after the maker of P&H and Joy mining equipment was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

JPMorgan Chase & Co. ((JPM)) rose 1.2% or 47 cents to $39.05 after the bank was upgraded to “buy” from “neutral” at UBS AG.

Lions Gate Entertainment Corp. ((LGF)) fell 1.9% or 13 cents to $6.70. The entertainment company said full-year sales rose 7.5% to $1.58 billion from $1.47 billion a year ago. Net loss in the full year was $19.5 million or 17 cents per diluted share compared to net loss of $178.5 million or $1.53 per share a year ago.

Medical Action Industries Inc. ((MDCI)) traded unchanged at $10.98 after the disposable medical products maker reported fourth quarter sales fell 2.3% to $71.2 million from $72.9 million a year ago. Net income in the quarter rose 189% to $5.2 million or 30 cents per diluted share compared to net income of $1.8 million or 11 cents per share a year ago.

MF Global Holdings Ltd. ((MF)) declined 7.7% or 59 cents to $7.00 after the futures and options broker announced the commencement of an underwritten public offering for gross proceeds up to $150 million in shares of its common stock.

Monsanto Company ((MON)) rose 3.0% or $1.49 to $50.26 after the seed company granted a new royalty-bearing, Roundup Ready 2 Yield® license to Dow AgroSciences. The new agreement expands Dow AgroSciences'' trait stacking and existing licensing rights across its soybean seed brands and licensing partners.

RBC Bearings Incorporated ((ROLL)) traded unchanged at $27.64 after the bearings maker reported fourth quarter sales fell 5% to $79.8 million from $83.8 million a year ago. Net income in the quarter rose 49% to $9.7 million or 44 cents per diluted share compared to net income of $6.5 million or 30 cents per share a year ago.

Shoe Carnival, Inc. ((SCVL)) declined 4.3% or $1.08 to $24.00. The athletic and toning footwear retailer reported first quarter sales rose 13.3% to $189.5 million from $167.2 million a year ago. Net income in the quarter rose 124.4% to $9.2 million or 72 cents per diluted share compared to net income of $4.1 million or 33 cents per share a year ago.

United Natural Foods, Inc. ((UNFI)) gained 6.0% or $1.89 to $32.94 after the organic and natural foods distributor reported third quarter sales rose 11% to $985.7 million from $889.5 million a year ago. Net income in the quarter rose 16% to $19.5 million or 45 cents per diluted share compared to net income of $16.8 million or 39 cents per share a year ago.