Teekay Declines; Red Hat, Jabil Gain

Mayank Mehta
23 Jun, 2010
New York City

CarMax, Inc. led gainers in the S&P 500 index with a rise of 7.3%. Red Hat said its first-quarter net income rose 30%. Adobe reported second quarter net increased 18%. CarMax said its quarterly net more than tripled. Rite Aid narrows quarterly loss.

[R]11:00 AM New York - CarMax, Inc. led gainers in the S&P 500 index with a rise of 7.3%. Red Hat said its first-quarter net income rose 30%. Adobe reported second quarter net increased 18%. CarMax said its quarterly net more than tripled. Rite Aid narrows quarterly loss.[/R]

Wilmington Trust Corporation led the decliners in the S&P 500 index with a loss of 8.3% followed by losses in Wimm-Bill-Dann Foods OJSC of 6.2% and in Alpine Total Dynamic Dividend Fund of 6.1%, in Edwards Lifesciences Corporation of 5.8% and in Progress Software Corporation of 5.4%.

CarMax, Inc. led gainers in the S&P 500 index with a rise of 7.3% followed by gains in Jabil Circuit, Inc. of 7.1%, in ProShares UltraShort DJ-UBS Crude Oil of 4.3% and in Satyam Computer Services Limited of 4.0%.

Other Movers

Acuity Brands, Inc. ((AYI)) rose 1.4% or 65 cents to $45.00.

Adobe Systems Incorporated ((ADBE)) decreased 2.3% or 76 cents to $32.00. The software company said second quarter revenues rose 34% to $943.0 million from $704.7 million a year ago. Net income in the quarter rose 18% to $148.6 million or 28 cents per diluted share compared to net income of $126.1 million or 24 cents per share a year ago.

CarMax, Inc. ((KMX)) added 5.0% or $1.00 to $21.00 after the retailer of used cars reported first quarter sales rose 23.5% to $2.26 billion from $1.83 billion a year ago. Net income in the quarter rose 252% to $101.1 million or 44 cents per diluted share compared to net income of $28.7 million or 13 cents per share a year ago.

Denbury Resources Inc. ((DNR)), the oil and natural-gas producer added 2.9% or 49 cents to $17.00.

H.B. Fuller Company ((FUL)) fell 1.0% or 23 cents to $21.50. The maker of adhesives and sealants said second quarter revenues rose 16.3% to $348.0 million from $299.2 million a year ago. Net income in the quarter fell 37.5% to $11.0 million or 22 cents per diluted share compared to net income of $17.6 million or 36 cents per share a year ago.

Hatteras Financial Corp. ((HTS)) fell 0.5% or 16 cents to $29.26. The real estate investment trust said the board of directors of the company declared a quarterly dividend of $1.10 per common share for the second quarter of 2010.

Jabil Circuit, Inc. ((JBL)) climbed 8.9% or $1.21 to $14.80 after the electronic product solutions company said third quarter revenues rose 32% to $3.46 billion from $2.62 billion a year ago. Net income in the quarter was $52.7 million or 24 cents per diluted share compared to net loss of $29.2 million or 14 cents per share a year ago.

Monster Worldwide, Inc. ((MWW)) gained 8.2% or $1.04 to $13.69 after the online-recruiting company was upgraded to “outperform” from “market perform” at Oppenheimer & Co. Inc.

Orbital Sciences Corporation ((ORB)), the manufacturer of spacecraft vehicles and rockets rose 0.5% or 9 cents to $16.02.

Progress Software Corporation ((PRGS)) dropped 6.3% or $2.00 to $29.50. The software provider said second quarter revenues rose 9% to $127.7 million from $117.0 million a year ago. Net income in the quarter rose 177% to $19.1 million or 43 cents per diluted share compared to net income of $6.9 million or 17 cents per share a year ago.

Rite Aid Corporation ((RAD)) surged 10.8% or 11 cents to $1.12. The drugstore operator reported first quarter revenues fell 2% to $6.39 billion from $6.53 billion a year ago. Net loss in the quarter was $73.7 million or 9 cents per diluted share compared to net loss of $98.4 million or 11 cents per share a year ago.

Walgreen Co. ((WAG)) rose 0.2% or 8 cents to $28.25 after the drugstore chain said third quarter sales rose 6% to $17.20 billion from $16.21 billion a year ago. Net income in the quarter rose 11.3% to $463.0 million or 47 cents per diluted share compared to net income of $522.0 million or 53 cents per share a year ago.

Red Hat, Inc. ((RHT)) rose 0.2% or 9 cents to $30.95 after the software company said first quarter revenues rose 20% to $209.1 million from $174.4 million a year ago. Net income in the quarter rose 30.3% to $24.1 million or 12 cents per diluted share compared to net income of $18.5 million or 10 cents per share a year ago.

Teekay Corporation ((TK)) dropped 4.4% or $1.29 to $27.85 after the operator of oil tankers announced that it has signed an agreement with Petroleo Brasileiro SA to extend the operating contract for Teekay''s Cidade de Rio das Ostras Floating Production Storage and Offloading unit through 2018.