Acuity, Celgene Decline; Argon, Akamai Gain

Mayank Mehta
30 Jun, 2010
New York City

Acuity Brands, Inc. led the decliners in the S&P 500 index with a loss of 10.6%. American Greetings shares down nearly 6%. Monsanto posts smaller quarterly profit. General Mills profit slips and forecast lags estimate. Sealy swings to second-quarter profit.

[R]11:00 AM New York - Acuity Brands, Inc. led the decliners in the S&P 500 index with a loss of 10.6%. American Greetings shares down nearly 6%. Monsanto posts smaller quarterly profit. General Mills profit slips and forecast lags estimate. Sealy swings to second-quarter profit.[/R]

Acuity Brands, Inc. led the decliners in the S&P 500 index with a loss of 10.6% followed by losses in American Greetings Corporation of 8.0% and in Celgene Corporation of 6.2%, and in GEROVA Financial Group, Ltd. of 5.1% and in General Mills, Inc. of 4.3%.

Argon ST, Inc. led gainers in the S&P 500 index with a rise of 40.1% followed by gains in Abraxis BioScience, Inc. of 19.1%, in Tesla Motors Inc. of 7.3% and in Diamond Foods, Inc. of 6.8% and in First National Bank Alaska of 5.7%.

Other Movers

Akamai Technologies, Inc. ((AKAM)) rose 1.0% or 41 cents to $41.45 after the supplier of software and services to make Web sites load faster was downgraded to “neutral” from “buy” at Merriman Curhan Ford & Co.

Acuity Brands, Inc. ((AYI)) plunged 11.1% or $4.47 to $36.50 after the lighting fixtures and controls provider reported third quarter sales rose 3% to $407.6 million from $396.6 million a year ago. Net income in the quarter fell 3% to $21.3 million or 48 cents per diluted share compared to net income of $22.0 million or 51 cents per share a year ago.

American Greetings Corporation ((AM)) declined 6.2% or $1.16 to $18.30 after the maker of greeting cards with sounds or smells reported first quarter revenues fell 4% to $396.3 million from $413.0 million a year ago. Net income in the quarter rose 208% to $30.8 million or 75 cents per diluted share compared to net income of $10.0 million or 25 cents per share a year ago.

Barnes & Noble, Inc. ((BKS)) added 1.8% or 24 cents to $13.51 after the bookstore chain reported a consolidated net loss of $32 million or 58 cents per share.

Citigroup Inc. ((C)) rose 1.8% or 7 cents to $3.80 after the lender analysts reiterated a “buy” rating on shares of Veeco Instruments Inc. and set a price target of $52.00.

Ctrip.com International Ltd. ((CTRP)) rose 0.7% or 29 cents to $37.61 after the consolidator of hotel accommodations and airline tickets in China was downgraded to “hold” from “buy” at Deutsche Bank AG.

EXFO Inc. ((EXFO)) closed trading at $5.30 after the telecommunications industry said third quarter sales rose 45% to $63.2 million from $43.6 million a year ago. Net income in the quarter was $169,000 or breakeven per diluted share compared to net loss of $23.3 million or 39 cents per share a year ago.

Enterprise Products Partners L.P ((EPD)) rose 0.4% or 15 cents to $35.40 after the natural gas company announced today several new construction projects that will further extend and expand its natural gas and natural gas liquids (NGL) infrastructure in South Texas and Mont Belvieu, Texas to accommodate growing production volumes from the Eagle Ford Shale play.

General Mills, Inc. ((GIS)) fell 3.7% or $1.40 to $35.50 after the maker of cheerios cereal, yoplait yogurts said fourth quarter sales fell 2% to $3.57 billion from $3.65 billion a year ago. Net income in the quarter fell 41% to $211.9 million or 31 cents per diluted share compared to net income of $358.8 million or 53 cents per share a year ago.

Janus Capital Group Inc. ((JNS)) fell 1.1% or 10 cents to $8.90 after the asset management firm was downgraded to “market perform” from “outperform” at Keefe, Bruyette & Woods.

Lindsay Corporation ((LNN)) climbed 3.2% or $1.04 to $33.45 after the irrigation equipment and infrastructure products maker reported third quarter revenues rose 18.3% to $100.1 million from $84.6 million a year ago. Net income in the quarter rose 17% to $6.2 million or 50 cents per diluted share compared to net income of $5.3 million or 42 cents per share a year ago.

Medtronic, Inc. ((MDT)) fell 1.7% or 66 cents to $36.21 after the medical device maker said it received a warning letter from the U.S. Food and Drug Administration about reporting requirements and handling of complaints at its Louisville, Colorado plant, according to Bloomberg report.

Monsanto Company ((MON)) fell 0.2% or 14 cents to $47.21 after the seed leader reported third quarter sales fell 6.3% to $2.96 billion from $3.16 billion a year ago. Net income in the quarter fell 44.7% to $384.0 million or 70 cents per diluted share compared to net income of $694.0 million or $1.25 per share a year ago.

Micron Technology, Inc. ((MU)) rose 0.9% or 8 cents to $8.75 after the maker of computer-memory chips reported fiscal third quarter earnings failed to impress investors and got swept away with the rest of the market selloff.

Omnova Solutions Inc. ((OMN)) advanced 3.3% or 24 cents to $7.51 after the chemical maker said second quarter sales rose 40.4% to $226.4 million from $161.3 million a year ago. Net income in the quarter rose 196% to $15.1 million or 33 cents per diluted share compared to net income of $5.1 million or 12 cents per share a year ago.

Peabody Energy Corporation ((BTU)) rose 0.4% or 17 cents to $39.50 after the coal mining company was upgraded to “buy” from “hold” by Deutsche Bank AG.

Shaw Communications Inc. ((SJR)) rose 0.1% or 2 cents to $18.20 after the diversified communications company reported third quarter revenues rose 9.5% to $943.6 million from $861.4 million a year ago. Net income in the quarter rose 19.7% to $158.2 million or 37 cents per diluted share compared to net income of $132.2 million or 31 cents per share a year ago.

Smithfield Foods, Inc. ((SFD)) rose 1.7% or 27 cents to $15.35 after the JBS SA may hold talks to buy U.S. pork processor Smithfield, Sao Paulo-based newspaper Valor Economico reported.

Sealy Corporation ((ZZ)) fell 3.0% or 9 cents to $2.85 after the mattress and bedding company said second quarter sales rose 6% to $316.5 million from $298.5 million a year ago. Net income in the quarter was $849,000 or 1 cents per diluted share compared to net loss of $5.4 million or 6 cents per share a year ago.

Zimmer Holdings, Inc. ((ZMH)) rose 0.3% or 17 cents to $54.77 after the surgical products manufacturer was upgraded to “positive” in new coverage at Susquehanna Bancshares Inc.

UniFirst Corporation ((UNF)) rose 3.1% or $1.29 to $42.32 after the uniforms and protective clothing maker reported third quarter revenues rose 3.6% to $261.2 million from $252.1 million a year ago. Net income in the quarter fell 11% to $19.3 million or 98 cents per diluted share compared to net income of $21.7 million or $1.12 per share a year ago.

USG Corporation ((USG)) rose 0.9% or 12 cents to $12.65 after the building materials producer was rated as “underperform” at Credit Suisse AG.