Emulex, Tellabs Decline; Corning, Depomed Gain

Mayank Mehta
08 Jun, 2010
New York City

Anadarko Petroleum Corporation led the decliners in the S&P 500 index with a loss of 5.27%. DuPont wins USDA approval for new soy bean. McDonald''s global May comparable sales rose 4.8%. Dollar General net income increases by 64%.

[R]10:45 AM New York - Anadarko Petroleum Corporation led the decliners in the S&P 500 index with a loss of 5.27%. DuPont wins USDA approval for new soy bean. McDonald''s global May comparable sales rose 4.8%. Dollar General net income increases by 64%.[/R]

Of the stocks in S&P 500 index, 365 increased, 124 declined and 11 were unchanged.

Anadarko Petroleum Corporation led the decliners in the S&P 500 index with a loss of 5.27% followed by losses in Diamond Offshore Drilling, Inc. of 3.8% and in Tellabs, Inc. of 2.5%, in Baker Hughes Incorporated of 2.2% and in PPL Corporation of 2.1%.

Wynn Resorts, Limited led gainers in the S&P 500 index with a rise of 2.9% followed by gains in Cliffs Natural Resources Inc. of 2.8%, in Corning Incorporated of 2.8% and in CONSOL Energy Inc. of 2.8%.

Other Movers

A123 Systems, Inc. ((AONE)), the maker of automotive battery systems climbed 4.9% or 40 cents to $8.41.

Biogen Idec Inc. ((BIIB)), the maker of medicines for multiple sclerosis fell 0.4% or 20 cents to $47.64.

Cascade Corporation ((CASC)) dropped 7.6% or $2.29 to $27.54. The maker of forklift attachments, hydraulic cylinders and loading gear said first quarter sales rose 23.7% to $94.4 million from $76.3 million a year ago. Net income in the quarter was $5.7 million or 51 cents per diluted share compared to net loss of $12.0 million or $1.12 per share a year ago.

Cantel Medical Corp. ((CMN)) fell 2.6% or 43 cents to $15.93. The provider of infection prevention and control products reported third quarter sales rose 0.3% to $66.6 million from $66.4 million a year ago. Net income in the quarter rose 2.3% to $4.3 million or 25 cents per diluted share compared to net income of $4.2 million or 25 cents per share a year ago.

Cepheid Inc. ((CPHD)) added 3.5% or 59 cents to $17.08 after the maker of a rapid test for drug-resistant staph infections today announced it has received clearance from the U.S. Food & Drug Administration to market Xpert(R) SA Nasal Complete.

CorVel Corporation ((CRVL)) fell 2.1% or 73 cents to $33.36. The provider of medical cost containment and managed care services reported first quarter sales rose 13.6% to $87.6 million from $77.1 million a year ago. Net income in the quarter rose 57% to $6.6 million or 54 cents per diluted share compared to net income of $4.2 million or 33 cents per share a year ago.

Corning Incorporated ((GLW)) rose 2.4% or 39 cents to $16.39 after the maker of glass for flat-panel televisions was upgraded to “outperform” from “market perform” at Sanford C. Bernstein & Co. Inc.

CPI Corp ((CPI)) rose 0.3% or 9 cents to $25.26 after the portrait photography company reported first quarter sales rose 2% to $95.5 million from $93.5 million a year ago. Net income in the quarter rose 182.6% to $6.5 million or 91 cents per diluted share compared to net income of $2.3 million or 34 cents per share a year ago.

Depomed, Inc. ((DEPO)) surged 10.5% or 32 cents to $3.35 after the developer of a treatment for hot flashes announced that the New Drug Application for DM-1796 was accepted by the U.S. Food and Drug Administration for the management of postherpetic neuralgia (PHN), or pain after shingles.

Diamond Offshore Drilling, Inc. ((DO)) fell 5.5% or $3.28 to $56.01 after the deepwater oil driller was downgraded to “underperform” from “market perform” at FBR Capital Markets and “sell” from “neutral” at Goldman Sachs & Co.

Dollar General Corporation ((DG)) added 3.6% or $1.07 to $30.30 after the discount retailer reported first quarter sales rose 12% to $3.11 billion from $2.78 billion a year ago. Net income in the quarter rose 64% to $136.0 million or 39 cents per diluted share compared to net income of $83.0 million or 26 cents per share a year ago.

Emulex Corporation ((ELX)) fell 4.5% or 46 cents to $9.65 after the chipmaker today announced that it has signed an agreement to acquire ServerEngines Corporation.

FuelCell Energy, Inc. ((FCEL)) decreased 5.8% or 14 cents to $2.26 after the fuel cells maker said second quarter revenues fell 27.5% to $16.6 million from $22.9 million a year ago. Net loss in the quarter was $16.7 million or 20 cents per diluted share compared to net loss of $19.9 million or 29 cents per share a year ago.

GT Solar International, Inc. ((SOLR)), the supplier of equipment to solar-cell manufacturers rose 1.7% or 9 cents to $5.26.

Hooker Furniture Corporation ((HOFT)) rose 1.8% or 25 cents to $14.11. The furniture seller said first quarter sales fell 1.3% to $51.4 million from $52.1 million a year ago. Net income in the quarter was $1.1 million or 10 cents per diluted share compared to net loss of $456,000 or 4 cents per share a year ago.

New York & Company, Inc. ((NWY)), the women’s clothing retailer fell 7.0% or 23 cents to $3.05.

The Pep Boys-Manny, Moe & Jack ((PBY)) fell 5.2% or 59 cents to $10.74. The auto parts retailer said first quarter sales rose 2.7% to $510.0 million from $496.5 million a year ago. Net income in the quarter rose 9% to $12.0 million or 23 cents per diluted share compared to net income of $11.0 million or 21 cents per share a year ago.

Retail Ventures, Inc. ((RVI)) increased 7.5% or 60 cents to $8.57 after the operator of DSW shoe stores said first quarter sales rose 16.5% to $449.5 million from $385.8 million a year ago. Net loss in the quarter was $6.0 million or 12 cents per diluted share compared to net loss of $33.0 million or 68 cents per share a year ago.

The Talbots, Inc. ((TLB)) advanced 2.3% or 32 cents to $13.80 after the specialty retailer and direct marketer of women’s apparel, accessories and shoes reported first quarter sales rose 4.7% to $320.7 million from $306.2 million a year ago. Net loss in the quarter was $4.4 million or 8 cents per diluted share compared to net loss of $23.6 million or 44 cents per share a year ago.