Benihana Rises; Gentiva, RadioShack Drop

Mayank Mehta
14 Jul, 2010
New York City

Align Technology, Inc. led gainers in the S&P 500 index with a rise of 8.3%. Yum Brands profit slips but sales and margins grow. California Pizza shares up 5% on hiked forecast. CommVault shares lose 21% on weak earnings. Del Monte trims sales view on promotion spending.

[R]11:00 AM New York - Align Technology, Inc. led gainers in the S&P 500 index with a rise of 8.3%. Yum Brands profit slips but sales and margins grow. California Pizza shares up 5% on hiked forecast. CommVault shares lose 21% on weak earnings. Del Monte trims sales view on promotion spending.[/R]

Ritchie Bros. Auctioneers Incorporated led the decliners in the S&P 500 index with a loss of 10.4% followed by losses in Provident Energy Trust of 9.7% and in Lexmark International, Inc. of 9.0%, and in Longtop Financial Technologies Limited of 7.6% and in RadioShack Corporation of 6.9%.

Align Technology, Inc. led gainers in the S&P 500 index with a rise of 8.3% followed by gains in ADTRAN, Inc. of 6.5%, in AK Steel Holding Corporation of 5.7% and in Expeditors International of Washington, Inc. of 5.6% and in Seagate Technology of 5.2%.

Other Movers

Aar Corp. ((AIR)) fell 3.4% or 62 cents to $17.29 after the provider of parts and maintenance services to the aviation industry said fourth quarter sales rose 0.2% to $372.3 million from $371.7 million a year ago. Net income in the quarter fell 21% to $11.2 million or 29 cents per diluted share compared to net income of $14.2 million or 36 cents per share a year ago.

Benihana Inc. ((BNHNA)) added 6.3% or 33 cents to $5.53 after the Japanese steakhouse chain announced that its board of directors decided to explore strategic alternatives available to the company, including a possible sale, in order to maximize shareholder value.

Century Bancorp, Inc. ((CNBKA)) rose 2.5% or 53 cents to $21.77 after the bank holding company said second quarter net interest income rose 9% to $13.1 million from $12.0 million a year ago. Net income in the quarter rose 50% to $3.0 million or 54 cents per diluted share compared to net income of $2.0 million or 36 cents per share a year ago.

Corus Entertainment Inc. ((CJR)) fell 0.6% or 13 cents to $18.57 after the media and entertainment company reported third quarter revenues rose 12% to $218.4 million from $195.4 million a year ago. Net income in the quarter was $31.4 million or 39 cents per diluted share compared to net loss of $145.0 million or $1.81 per share a year ago.

Delta Air Lines, Inc. ((DAL)) rose 1.4% or 18 cents to $12.29 after the carrier and UAL Corp.’s United Airlines may lead other airlines to the first quarterly profit in two-and-a-half years as the industry benefits from cutting seats during the recession, according to Bloomberg report.

Expeditors International of Washington, Inc. ((EXPD)) gained 7.9% or $2.95 to $40.11 after the manager of cargo ships said second-quarter profit was 38 cents a share.

Gentiva Health Services, Inc. ((GTIV)) plunged 10.7% or $2.41 to $19.90 after the home-nursing company announced that the Securities and Exchange Commission commenced an investigation relating to Gentiva''s participation in the Medicare Home Health Prospective Payment System

Healthcare Services Group, Inc. ((HCSG)) added 3.6% or 71 cents to $20.21 after the housekeeping and food services provider to hospitals and nursing homes said second quarter revenues rose 13% to $193.0 million from $170.9 million a year ago. Net income in the quarter rose 11.5% to $8.7 million or 20 cents per diluted share compared to net income of $7.8 million or 18 cents per share a year ago.

Intel Corporation ((INTC)) gained 6.6% or $1.39 to $22.40 after the chip equipment maker said second quarter revenues rose 34.3% to $10.77 billion from $8.02 billion a year ago. Net income in the quarter was $2.89 billion or 51 cents per diluted share compared to net loss of $398.0 million or 7 cents per share a year ago.

iGATE Corporation ((IGTE)) rose 3.0% or 43 cents to $14.60 after the information technology and outsourcing services provider reported second quarter revenues rose 42.7% to $66.8 million from $46.8 million a year ago. Net income in the quarter rose 83.6% to $11.2 million or 20 cents per diluted share compared to net income of $6.1 million or 11 cents per share a year ago.

NovaGold Resources Inc. ((NG)) rose 1.8% or 12 cents to $6.52 after the metals company said second quarter sales fell 79.5% to $3.3 million from $16.1 million a year ago. Net loss in the quarter was $15.8 million or 7 cents per diluted share compared to net loss of $4.8 million or 3 cents per share a year ago.

Northrop Grumman Corporation ((NOC)) rose 1.5% or 84 cents to $56.10 after the global security company led Fire Scout Industry Team have successfully completed a rigorous set of flight demonstrations of the MQ-8B Fire Scout vertical unmanned aerial system in the United Arab Emirates under extreme environmental conditions.

The Progressive Corporation ((PGR)) fell 1.0% or 58 cents to $55.01 after the insurance company reported second quarter net premiums written rose 6.6% to $1.13 billion from $1.06 billion a year ago. Net income in the quarter fell 28.6% to $56.6 million or 9 cents per diluted share compared to net income of $79.3 million or 12 cents per share a year ago.

Research In Motion Limited ((RIMM)) fell 0.3% or 19 cents to $55.40 after the maker of the BlackBerry smartphone today announced that the Toronto Stock Exchange has approved the share repurchase program announced by RIM on June 24, 2010.

Under its share repurchase program, RIM may, during the twelve-month period from July 15, 2010 to July 14, 2011, purchase up to 22,457,566 of its common shares through the facilities of the TSX and the Nasdaq Stock Market.

Yum! Brands, Inc. ((YUM)) dropped 3.4% or $1.43 to $40.28 after the restaurant operator said second quarter revenues rose 3.6% to $2.57 billion from $2.48 billion a year ago. Net income in the quarter fell 5.6% to $286.0 million or 59 cents per diluted share compared to net income of $303.0 million or 63 cents per share a year ago.