Dell, Yahoo! Rise; Amazon, Pfizer Drop

Mayank Mehta
01 Jul, 2010
New York City

BJ

[R]11:00 AM New York - BJ’s Wholesale Club, Inc. led gainers in the S&P 500 index with a rise of 5.3%. Yahoo sets $3 billion stock repurchase program. Constellation posts higher quarterly profit. Apollo''s quarterly net income slides to $179.3 million.[/R]

Amedisys, Inc. led the decliners in the S&P 500 index with a loss of 14.8% followed by losses in Dendreon Corporation of 12.1% and in Gentiva Health Services, Inc. of 10.5%, and in LHC Group, Inc. of 9.9% and in Universal Technical Institute, Inc. of 6.3%.

BJ’s Wholesale Club, Inc. led gainers in the S&P 500 index with a rise of 5.3% followed by gains in Questar Corporation of 4.7%, in Popular, Inc. of 4.4% and in Tesla Motors Inc. of 4.2% and in Ivanhoe Energy Inc. of 3.1%.

Other Movers

Amazon.com, Inc. ((AMZN)) fell 0.1% or 18 cents to $109.08 after the Internet retailer today introduced the new latest generation Kindle DX and new lower price of $379, down from $489, and with free 3G wireless Internet access. The company also acquired daily deal site operator Woot.

Amedisys, Inc. ((AMED)) plunged 18.9% or $8.33 to $35.73 after the healthcare provider was downgraded to “hold” from “buy” at BB&T Capital Markets.

Apollo Group, Inc. ((APOL)) fell 2.0% or 88 cents to $41.59 after the education company said third quarter revenues rose 27.6% to $1.34 billion from $1.05 billion a year ago. Net income in the quarter fell 11% to $179.3 million or $1.18 per diluted share compared to net income of $201.1 million or $1.26 per share a year ago.

Arena Pharmaceuticals, Inc. ((ARNA)) surged 12.3% or 38 cents to $3.45 after the company today announced that Eisai Inc. will market lorcaserin for obesity and weight management in the United States following the Food and Drug Administration approval.

Constellation Brands, Inc. ((STZ)) fell 2.9% or 46 cents to $15.16 after the wine company reported first quarter sales fell 0.5% to $787.5 million from $791.6 million a year ago. Net income in the quarter fell 655.4% to $49.1 million or 22 cents per diluted share compared to net income of $6.5 million or 3 cents per share a year ago.

Delta Air Lines, Inc. ((DAL)) rose 3.0% or 36 cents to $12.11 after the airline today announced it has entered into agreements to sell two of its wholly owned regional airline subsidiaries, Mesaba and Compass Airlines. Mesaba has been sold to Memphis, Tenn.-based Pinnacle Airlines Corp.

Dell Inc. ((DELL)) rose 1.5% or 19 cents to $12.25 after the personal-computer maker was upgraded to “buy” from “neutral” at UBS AG.

Denny’s Corporation ((DENN)) fell 3.0% or 8 cents to $2.52 after the dining chain today announced that it will begin converting the restaurant operations of up to 140 Flying J Travel Centers to Denny’s units starting in July 2010.

Investors Real Estate Trust ((IRET)) dropped 1.3% or 12 cents to $8.82 after the real estate investment trust said fourth quarter revenues rose 2.5% to $62.2 million from $60.7 million a year ago. Net income in the quarter fell 48% to $1.2 million or 1 cents per diluted share compared to net income of $2.3 million or 3 cents per share a year ago.

Methode Electronics, Inc. ((MEI)) added 4.0% or 39 cents to $10.13 after the manufacturer of electro-mechanical devices reported fourth quarter sales rose 7.5% to $95.7 million from $89.0 million a year ago. Net income in the quarter was $16.1 million or 44 cents per diluted share compared to net loss of $92.6 million or $2.50 per share a year ago.

Mitel Networks Corporation ((MITL)) dropped 0.5% or 5 cents to $8.95 after the provider of communications software solutions said fourth quarter revenues fell 1% to $163.9 million from $171.4 million a year ago. Net income in the quarter was $22.0 million or $5.43 per diluted share compared to net loss of $252.0 million or $18.37 per share a year ago.

MSC Industrial Direct Co, Inc. ((MSM)) rose 2.5% or $1.30 to $51.96 after the provider of tools and industrial services reported third quarter sales rose 28.5% to $450.4 million from $350.5 million a year ago. Net income in the quarter rose 59% to $44.2 million or 69 cents per diluted share compared to net income of $27.8 million or 44 cents per share a year ago.

MSCI Inc. ((MXB)) gained 6.7% or $1.84 to $29.24 after the provider of investment decision reported second quarter revenues rose 14.4% to $125.2 million from $109.4 million a year ago. Net income in the quarter rose 23% to $24.1 million or 22 cents per diluted share compared to net income of $19.6 million or 19 cents per share a year ago.

Pfizer Inc. ((PFE)) fell 0.07% or 1 cent to $14.26.

Schnitzer Steel Industries, Inc. ((SCHN)) added 2.0% or 80 cents to $40.00 after the recycler of ferrous and nonferrous metals said third quarter revenues rose 84% to $703.5 million from $382.0 million a year ago. Net income in the quarter was $40.5 million or $1.43 per diluted share compared to net loss of $1.5 million or 5 cents per share a year ago.

Smith & Wesson Holding Corporation ((SWHC)) added 2.6% or 11 cents to $4.20 after the handgun manufacturer reported fourth-quarter adjusted earnings of 8 cents a share.

Tenet Healthcare Corporation ((THC)) rose 2.3% or 10 cents to $4.44 after the hospital operator was upgraded to “Outperform” from “Market Perform” at Wells Fargo Securities.

Tupperware Brands Corporation ((TUP)) dropped 0.6% or 24 cents to $39.85 after the direct seller of plastic storage containers had its credit rating raised to BBB- from BB+ by Standard and Poor’s.

Xyratex Ltd. ((XRTX)) rose 1.7% or 24 cents to $14.39 after the data storage technology provider said second quarter revenues rose 134% to $455.9 million from $194.7 million a year ago. Net income in the quarter was $43.7 million or $1.39 per diluted share compared to net loss of $9.6 million or 33 cents per share a year ago.

Yahoo! Inc. ((YHOO)) rose 1.0% or 15 cents to $13.99 after the Internet media company authorized a program to repurchase up to $3 billion of the company''s stock over the next three years.