AutoNation, Exide Gain; Hovnanian Falls

Mayank Mehta
03 Jun, 2010
New York City

AutoNation, Inc. led gainers in the S&P 500 index with a rise of 4.9%. AutoNation''s May retail new vehicle unit sales up 22%. BJ''s same-store sales rise 3.5%, excluding gas. Ross Stores May same-store sales jump 5%. American Eagle Outfitters same-store sales dip 3%.

[R]11:00 AM New York - AutoNation, Inc. led gainers in the S&P 500 index with a rise of 4.9%. AutoNation''s May retail new vehicle unit sales up 22%. BJ''s same-store sales rise 3.5%, excluding gas. Ross Stores May same-store sales jump 5%. American Eagle Outfitters same-store sales dip 3%.[/R]

Of the stocks in S&P 500 index, 314 increased, 174 declined and 12 were unchanged.

Family Dollar Stores, Inc. led the decliners in the S&P 500 index with a loss of 4.3% followed by losses in Nordstrom, Inc. of 4.2% and in Tenet Healthcare Corporation of 3.1%, in CONSOL Energy Inc. of 2.6% and in Boston Scientific Corporation of 2.4%.

AutoNation, Inc. led gainers in the S&P 500 index with a rise of 4.9% followed by gains in Ross Stores, Inc. of 4.9%, in Abercrombie & Fitch Co of 4.6% and in Limited Brands, Inc. of 4.3%.

Other Movers

ABM Industries Incorporated ((ABM)) fell 1.5% or 33 cents to $21.48 after the provider of facility services said second quarter revenues fell 0.02% to $855.5 million from $855.7 million a year ago. Net income in the quarter fell 33% to $8.6 million or 16 cents per diluted share compared to net income of $12.8 million or 25 cents per share a year ago.

America’s Car-Mart, Inc. ((CRMT)) added 4.2% or $1.05 to $25.55 after the automotive retailer reported fourth quarter revenues rose 14% to $88.8 million from $77.9 million a year ago. Net income in the quarter rose 41% to $7.2 million or 62 cents per diluted share compared to net income of $5.1 million or 43 cents per share a year ago.

AutoNation, Inc. ((AN)), the automotive retailer rose 5.0% or $1.03 to $21.51.

Blue Coat Systems, Inc. ((BCSI)) added 2.9% or 63 cents to $23.01 after the provider of Internet security for corporations was upgraded to “outperform” from “market perform” at FBR Capital Markets Corp.

CBS Corporation ((CBS)), the mass media company fell 0.8% or 13 cents to $14.63.

Cephalon, Inc. ((CEPH)) gained 3.6% or $2.08 to $59.53. The biopharmaceutical company announced that the primary endpoint was not met in a Phase II clinical trial that examined NUVIGIL® (armodafinil) Tablets [C-IV] as an adjunctive therapy for the treatment of the negative symptoms of schizophrenia.

Charming Shoppes, Inc. ((CHRS)) fell 0.8% or 4 cents to $4.41 after the women’s apparel retailer reported first quarter sales fell 6% to $504.8 million from $538.1 million a year ago. Net income in the quarter was $3.9 million or 3 cents per diluted share compared to net loss of $6.6 million or 6 cents per share a year ago.

Coldwater Creek Inc. ((CWTR)) added 5.2% or 31 cents to $6.25 after the women''s clothing chain said first quarter sales rose 6.4% to $243.1 million from $228.4 million a year ago. Net income in the quarter was $2.3 million or 3 cents per diluted share compared to net loss of $7.6 million or 8 cents per share a year ago.

Copart, Inc. ((CPRT)) rose 1.7% or 62 cents to $37.00 after the vehicle seller said third quarter revenues rose 11.7% to $220.3 million from $197.3 million a year ago. Net income in the quarter rose 5.5% to $44.4 million or 52 cents per diluted share compared to net income of $42.1 million or 50 cents per share a year ago.

Dynamex Inc. ((DDMX)) fell 6.2% or $1.01 to $15.05. The same-day courier service said third quarter sales rose 13% to $104.0 million from $92.2 million a year ago. Net income in the quarter rose 62.5% to $2.6 million or 27 cents per diluted share compared to net income of $1.6 million or 17 cents per share a year ago.

Exide Technologies ((XIDE)) surged 18.2% or 78 cents to $5.05 after the battery manufacturer said fourth quarter sales rose 9% to $714.7 million from $654.3 million a year ago. Net income in the quarter was $40.4 million or 53 cents per diluted share compared to net loss of $64.4 million or 85 cents per share a year ago.

Greif, Inc. ((GEF)) climbed 4.1% or $2.21 to $55.46 after the industrial packaging products manufacturer said second quarter sales rose 29% to $836.6 million from $648.0 million a year ago. Net income in the quarter was $42.6 million or 73 cents per diluted share compared to net income of $1.6 million or 3 cents per share a year ago.

Hovnanian Enterprises, Inc. ((HOV)) fell 2.2% or 14 cents to $6.01 after the homebuilder said second quarter revenues fell 20% to $318.6 million from $398.0 million a year ago. Net loss in the quarter was $28.6 million or 36 cents per diluted share compared to net loss of $118.6 million or $1.50 per share a year ago.

Joy Global Inc. ((JOYG)) added 8.8% or $4.65 to $57.51. The mining equipment maker reported second quarter sales fell 3% to $896.2 million from $923.5 million a year ago. Net income in the quarter fell 0.1% to $120.4 million or $1.15 per diluted share compared to net income of $120.5 million or $1.17 per share a year ago.

Medtronic, Inc. ((MDT)), the maker of heart-rhythm devices rose 0.7% or 29 cents to $39.37.

Suntech Power Holdings Co., Ltd. ((STP)) rose 1.6% or 16 cents to $9.90 after the solar panel maker reported first quarter revenues rose 86.3% to $588.0 million from $315.7 million a year ago. Net income in the quarter was $20.7 million or 11 cents per ADS compared to net income of $1.8 million or 1 cent per ADS a year ago.