Bed Bath, Pulte Fall; Smucker Gains

Mayank Mehta
17 Jun, 2010
New York City

Bed Bath & Beyond Inc. led the decliners in the S&P 500 index with a loss of 5.6%. Kroger net income dips 14%. J.M. Smucker Co. net income rises 28%.

[R]11:30 AM New York - Bed Bath & Beyond Inc. led the decliners in the S&P 500 index with a loss of 5.6%. Kroger net income dips 14%. J.M. Smucker Co. net income rises 28%.[/R]

Of the stocks in S&P 500 index, 189 increased, 297 declined and 14 were unchanged.

Bed Bath & Beyond Inc. led the decliners in the S&P 500 index with a loss of 5.6% followed by losses in DirectTV of 3.3% and in IntercontinentalExchange, Inc. of 3.1%, in D.R. Horton, Inc. of 2.8% and in Pulte Homes, Inc. of 2.5%.

The J. M. Smucker Company led gainers in the S&P 500 index with a rise of 5.9% followed by gains in The Kroger Co. of 5.7%, in First Solar, Inc. of 3.3% and in M&T Bank Corporation of 3.1%.

Other Movers

Actuant Corporation ((ATU)) fell 1.5% or 32 cents to $20.20. The industrial company reported third quarter sales rose 17.3% to $334.6 million from $285.2 million a year ago. Net income in the quarter was $21.8 million or 30 cents per diluted share compared to net loss of $17.6 million or 27 cents per share a year ago.

BlackRock Kelso Capital Corporation ((BKCC)) fell 1.9% or 20 cents to $10.10. The investment company announced today that it has priced its public offering of 7.5 million shares of its common stock at an offering price of $10.25 per share, raising $76.9 million of gross proceeds.

Cirrus Logic, Inc. ((CRUS)) increased 4.4% or 69 cents to $16.18.

CKX, Inc. ((CKXE)) dropped 3.4% or 18 cents to $5.05.

Culp, Inc. ((CFI)) added 4.3% or 54 cents to $12.94 after the mattress and upholstery fabric maker said fourth quarter sales rose 19.7% to $57.2 million from $47.8 million a year ago. Net income in the quarter rose 217.6% to $5.4 million or 41 cents per diluted share compared to net income of $1.7 million or 13 cents per share a year ago.

Duke Realty Corporation ((DRE)) rose 0.4% or 5 cents to $12.54 after the owner of industrial, office and retail properties announced that it intends to sell 23 million shares of its common stock in an underwritten public offering.

EXCO Resources, Inc. ((XCO)) dropped 2.1% or 41 cents to $18.56 after the oil and gas producer announced an agreement to purchase properties prospective for the Haynesville and Bossier shales from Southwestern Energy Company for approximately $355 million, subject to customary purchase price adjustments.

First Solar, Inc. ((FSLR)) increased 4.6% or $5.53 to $124.16 after the thin-film solar power modules was upgraded to “outperform” from “neutral” at Credit Suisse Group AG.

Ford Motor Company ((F)), the carmaker rose 0.3% or 4 cents to $11.67.

IHS Inc. ((IHS)) fell 0.2% or 12 cents to $55.45. The business and market information provider said second quarter revenues rose 13% to $266.5 million from $235.3 million a year ago. Net income in the quarter rose 20.3% to $38.5 million or 60 cents per diluted share compared to net income of $32.0 million or 50 cents per share a year ago.

Neurocrine Biosciences, Inc. ((NBIX)), the drug company increased 4.3% or 23 cents to $5.60.

Pier 1 Imports, Inc. ((PIR)) gained 8.2% or 66 cents to $8.68 after the home-goods retailer reported first quarter sales rose 9% to $306.3 million from $281.1 million a year ago. Net income in the quarter fell 73.7% to $7.7 million or 7 cents per diluted share compared to net income of $29.3 million or 32 cents per share a year ago.

The J. M. Smucker Company ((SJM)) increased 3.9% or $2.25 to $60.00 after the food maker reported fourth quarter sales were flat at $1.07 billion. Net income in the quarter rose 28% to $120.6 million or $1.01 per diluted share compared to net income of $94.3 million or 80 cents per share a year ago.

The Kroger Co. ((KR)) added 5.3% or $1.08 to $21.16 after the traditional grocer reported first quarter sales rose 8.6% to $24.76 billion from $22.79 billion a year ago. Net income in the quarter fell 14% to $373.7 million or 58 cents per diluted share compared to net income of $435.1 million or 66 cents per share a year ago.

Smithfield Foods, Inc. ((SFD)) traded unchanged at $17.52 after the hog producer and pork processor reported fourth quarter sales rose 2% to $2.91 billion from $2.85 billion a year ago. Net loss in the quarter was $4.6 million or 3 cents per diluted share compared to net loss of $81.2 million or 57 cents per share a year ago.

Steel Dynamics, Inc. ((STLD)), the steelmaker dropped 3.6% or 52 cents to $13.69.

Winnebago Industries, Inc. ((WGO)) surged 15.0% or $1.72 to $12.75 after the maker of motorhomes reported third quarter revenues rose 165.4% to $134.8 million from $50.8 million a year ago. Net income in the quarter was $6.0 million or 21 cents per diluted share compared to net loss of $8.6 million or 29 cents per share a year ago.