SunTrust Declines; Quiksilver, Krispy Krem Rise

Mayank Mehta
04 Jun, 2010
New York City

Jacobs Engineering Group Inc. led the decliners in the S&P 500 index with a loss of 4.4%. Krispy Kreme quarterly profit surges. Quiksilver quarterly profit rises and sales decline. Hovnanian shares slip on order and revenue worries.

[R]11:00 AM New York - Jacobs Engineering Group Inc. led the decliners in the S&P 500 index with a loss of 4.4%. Krispy Kreme quarterly profit surges. Quiksilver quarterly profit rises and sales decline. Hovnanian shares slip on order and revenue worries.[/R]

Of the stocks in S&P 500 index, 23 increased, 474 declined and 3 were unchanged.

Jacobs Engineering Group Inc. led the decliners in the S&P 500 index with a loss of 4.4% followed by losses in Monster Worldwide, Inc. of 4.0% and in SunTrust Banks, Inc. of 3.9%, in Lincoln National Corporation of 3.9% and in Cliffs Natural Resources Inc. of 3.8%.

Anadarko Petroleum Corporation led gainers in the S&P 500 index with a rise of 3.3% followed by gains in Southwestern Energy Company of 2.0%, in Cabot Oil & Gas Corporation of 1.8% and in Range Resources Corporation of 1.7%.

Other Movers

American Woodmark Corporation ((AMWD)) fell 2.8% or 66 cents to $22.26 after the manufacturer and distributor of kitchen cabinets reported fourth quarter sales fell 20% to $112.4 million from $140.7 million a year ago. Net loss in the quarter was $1.5 million or 11 cents per diluted share compared to net loss of $2.9 million or 21 cents per share a year ago.

AngloGold Ashanti Limited ((AU)), the gold producer fell 2.5% or $1.10 to $41.47.

Artio Global Investors Inc. ((ART)) fell 0.6% or 12 cents to $17.21 after the company announced today the pricing of its synthetic secondary public offering of 3.8 million shares of Class A common stock at $17.33 per share.

The Bank of New York Mellon Corporation ((BK)) fell 3.0% or 83 cents to $26.44 after the custody bank announced it has priced a $700 million offering of 25.9 million shares of its common stock at $27.00 per share.

Blyth, Inc. ((BTH)) decreased 5.4% or $2.70 to $46.97 after the multi-channel designer and marketer of home fragrance products and home decor products reported first quarter sales fell 6% to $201.5 million from $214.7 million a year ago. Net income in the quarter rose 87.5% to $4.5 million or 51 cents per diluted share compared to net income of $2.4 million or 27 cents per share a year ago.

Comtech Telecommunications Corp. ((CMTL)) gained 5.5% or $1.62 to $29.28 after the amplifiers and communications gear maker said third quarter sales rose 68% to $216.3 million from $128.5 million a year ago. Net income in the quarter rose 187% to $21.8 million or 67 cents per diluted share compared to net income of $7.6 million or 27 cents per share a year ago.

Cabot Oil & Gas Corporation ((COG)) rose 1.9% or 71 cents to $37.88 after the company was upgraded to “buy” from “hold” at Stifel Nicolaus & Co. Inc.

The Cooper Companies, Inc. ((COO)) rose 2.2% or 83 cents to $37.96 after the eye care and surgical product maker said second quarter sales rose 11% to $289.3 million from $260.6 million a year ago. Net income in the quarter fell 81.7% to $4.5 million or 10 cents per diluted share compared to net income of $24.6 million or 54 cents per share a year ago.

DynCorp International Inc. ((DCP)) rose 0.9% or 16 cents to $17.19 after the defense contractor said fourth quarter revenues rose 35.5% to $1.1 billion from $812.8 million a year ago. Net income in the quarter rose 27.6% to $24.5 million or 43 cents per diluted share compared to net income of $19.2 million or 34 cents per share a year ago.

Hurco Companies, Inc. ((HURC)) fell 2.7% or 47 cents to $16.90. The industrial technology company reported second quarter sales rose 17.5% to $24.1 million from $20.5 million a year ago. Net loss in the quarter was $1.6 million or 24 cents per diluted share compared to net loss of $281,000 or 4 cents per share a year ago.

KMG Chemicals, Inc. ((KMGB)) declined 0.4% or 8 cents to $17.00. The provider of specialty chemicals reported third quarter sales rose 12.4% to $51.6 million from $45.9 million a year ago. Net income in the quarter rose 18% to $3.3 million or 29 cents per diluted share compared to net income of $2.8 million or 25 cents per share a year ago.

Krispy Kreme Doughnuts, Inc. ((KKD)), the doughnut chain increased 9.2% or 34 cents to $4.03.

Martek Biosciences Corporation ((MATK)) gained 6.8% or $1.32 to $20.57 after the maker of nutritional products from microbial sources said second quarter revenues rose 34% to $124.0 million from $92.4 million a year ago. Net income in the quarter rose 13.6% to $12.5 million or 37 cents per diluted share compared to net income of $11.0 million or 33 cents per share a year ago.

Met-Pro Corporation ((MPR)) rose 1.0% or 10 cents to $9.71 after the company reported first quarter sales rose 13.8% to $22.3 million from $19.6 million a year ago. Net income in the quarter rose 47% to $1.4 million or 10 cents per diluted share compared to net income of $952,000 or 7 cents per share a year ago.

Peregrine Pharmaceuticals, Inc. ((PPHM)) rose 0.6% or 2 cents to $3.25 after the drug development company today announced positive data from a Phase II clinical trial treating front-line non-small cell lung cancer (NSCLC) patients with bavituximab in combination with paclitaxel and carboplatin. 43% (21 of 49 patients) of patients achieved an objective tumor response.

Quiksilver, Inc. ((ZQK)) surged 11.4% or 53 cents to $5.16. The apparel retailer said second quarter sales fell 5% to $468.3 million from $494.2 million a year ago. Net income in the quarter rose 236% to $9.4 million or 6 cents per diluted share compared to net income of $2.8 million or 2 cents per share a year ago.

RCM Technologies, Inc. ((RCMT)), the provider of business and technology solutions surged 42.5% or $1.49 to $4.99.

SAIC, Inc. ((SAI)) rose 1.0% or 18 cents to $17.62 after the defense contractor said first quarter revenues rose 1.5% to $2.69 billion from $2.65 billion a year ago. Net income in the quarter rose 8% to $125.0 million or 32 cents per diluted share compared to net income of $116.0 million or 28 cents per share a year ago.

Ulta Salon, Cosmetics & Fragrance, Inc. ((ULTA)) added 2.5% or 62 cents to $24.52 after the beauty products retailer said first quarter sales rose 19% to $320.2 million from $268.8 million a year ago. Net income in the quarter rose 174% to $13.7 million or 23 cents per diluted share compared to net income of $5.0 million or 8 cents per share a year ago.

United States Steel Corporation ((X)) fell 3.0% or $1.35 to $43.93 after the domestic steelmaker was removed from the “conviction buy” list at Goldman Sachs Group Inc.