Discovery, JA Solar Gain, Family Dollar Falls

Mayank Mehta
07 Jul, 2010
New York City

Discovery Communications Inc. led gainers in the S&P 500 index with a rise of 14.2%. Family Dollar profit up 19%. Bebe shares up 9% on PH8 closings and dividend. Cree and Philips sign comprehensive LED patent cross-license agreement. Kraft to sell Cadbury confectionery unit.

[R]10:20 AM New York - Discovery Communications Inc. led gainers in the S&P 500 index with a rise of 14.2%. Family Dollar profit up 19%. Bebe shares up 9% on PH8 closings and dividend. Cree and Philips sign comprehensive LED patent cross-license agreement. Kraft to sell Cadbury confectionery unit.[/R]

FTI Consulting, Inc. led the decliners in the S&P 500 index with a loss of 15.1% followed by losses in CRH plc of 6.6% and in Family Dollar Stores, Inc. of 5.4%, and in Korea Electric Power Corporation of 3.0% and in Perrigo Company of 2.4%.

Discovery Communications Inc. led gainers in the S&P 500 index with a rise of 14.2% followed by gains in State Street Corporation of 8.7%, in Dollar Thrifty Automotive Group, Inc. of 5.9% and in Banco Bilbao Vizcaya Argentaria, S.A of 4.6% and in The Bank of New York Mellon Corporation of 4.1%.

Other Movers

AMR Corporation ((AMR)) fell 1.0% or 7 cents to $6.40 after the company’s American Airlines reported a June load factor of 86.8%, an increase of 1.6 points versus the same period last year. The company said that traffic increased 3.2% and capacity increased 1.3% year over year.

Cree, Inc. ((CREE)) rose 0.3% or 20 cents to $61.16 after the maker of energy-efficient lighting products and Philips have signed a comprehensive, worldwide patent cross-license agreement designed to further accelerate the growth of the LED lighting market.

EMC Corporation ((EMC)) rose 0.6% or 12 cents to $18.16 after the maker of storage computers today announced it has signed an agreement to acquire California-based Greenplum, Inc.

Family Dollar Stores, Inc. ((FDO)) fell 5.4% or $2.13 to $37.31 after the retailer reported third quarter sales rose 8.2% to $1.99 billion from $1.84 billion a year ago. Net income in the quarter rose 19% to $104.4 million or 77 cents per diluted share compared to net income of $87.7 million or 62 cents per share a year ago.

FMC Technologies, Inc. ((FCN)) rose 1.9% or $1.11 to $57.50 after the provider of forensic accounting was downgraded to “market perform” from “outperform” at Oppenheimer and Co. Inc.

Google Inc. ((GOOG)) fell 0.2% or $1.07 to $435.00 after the most-used search engine may face scrutiny as EU regulator examines search-engine antitrust.

JA Solar Holdings Co., Ltd. ((JASO)) climbed 5.3% or 27 cents to $5.35 after the Chinese maker of solar cells and modules today announced that it has entered into an agreement to acquire 100% of the shares of Shanghai Jinglong Solar Technology Co., Ltd. from Ningjin Jinglong PV Investment Co., Ltd., a company controlled by JA Solar’s Chairman, Mr. Baofang Jin.

Kraft Foods Inc. ((KFT)) rose 0.07% or 2 cents to $28.28 after the confectioner agreed to sell Cadbury Plc''s chocolate confectionery business in Romania to Oryxa Capital for an undisclosed amount to meet the European regulatory requirement of its Cadbury acquisition.

Lockheed Marin Corporation ((LMT)) fell 0.1% or 11 cents to $74.33 after the defense contractor was awarded a $522 million contract from the U.S. for long-lead efforts and materials associated with the production and delivery of 42 low-rate initial production Lot V F-35 Joint Strike Fighter aircraft, according to a statement on the Defense Department Web site.

State Street Corporation ((STT)) increased 8.7% or $2.91 to $36.25 after the custody bank estimates second quarter net income at 87 cents a share, reflecting a charge and a tax benefit, on revenue of $2.3 billion.

US Airways Group, Inc. ((LCC)) rose 2.1% or 17 cents to $8.25 after the airline reported its traffic in June rose 2.9% to 5.59 billion revenue passenger miles from 5.43 billion revenue passenger miles in June 2009.

Zanett Inc. ((ZANE)) surged 34.3% or 59 cents to $2.31 after the provider of technology-consulting services announced today that second quarter for the new business signed. Between the period of April 1, 2010 and June 30, 2010, over $20.6 million in new business has been closed.