Boeing, Quicksilver Gain; AIG, Hasbro Drop

Mayank Mehta
19 Jul, 2010
New York City

Tomkins plc led gainers in the S&P 500 index with a rise of 32.6%. Delta swings to a profit and forecasts revenue growth. Halliburton net income rises 83%. Hasbro profit climbs on cost cuts and revenue drops. India based Reliance Industries in talks to buy a stake in Quicksilver.

[R]10:20 AM New York - Tomkins plc led gainers in the S&P 500 index with a rise of 32.6%. Delta swings to a profit and forecasts revenue growth. Halliburton net income rises 83%. Hasbro profit climbs on cost cuts and revenue drops. India based Reliance Industries in talks to buy a stake in Quicksilver.[/R]

Inverness Medical Innovations, Inc. led the decliners in the S&P 500 index with a loss of 3.9% followed by losses in Delta Air Lines, Inc. of 3.7% and in BP Plc of 3.4%, and in Magyar Telekom Telecommunications Plc of 3.3% and in Baidu, Inc. of 3.1%.

Tomkins plc led gainers in the S&P 500 index with a rise of 32.6% followed by gains in Quicksilver Resources Inc. of 11.4%, in Herman Miller, Inc. of 8.7% and in Complete Production Services, Inc. of 6.4% and in Atheros Communications, Inc. of 5.3%.

Other Movers

American International Group, Inc. ((AIG)) fell 4.6% or $1.74 to $35.64 after the bailed-out insurer was required to pay $725 million to settle fraud case.

The Boeing Company ((BA)) rose 1.8% or $1.12 to $63.02 after the Dubai-based Emirates Airlines ordered 30 Boeing 777 planes at the Farnborough International Airshow, while Air Lease Corp. placed an order for 51 Airbus A320 family aircraft.

China Sky One Medical, Inc. ((CSKI)) decreased 1.2% or 12 cents to $9.65 after the Chinese manufacturer of pharmaceutical and medical products announced that Stanley Hao, the company''s Chief Financial Officer and Secretary, will be unreachable by investors for a period of time due to poor health.

Cognex Corporation ((CGNX)) rose 1.7% or 30 cents to $17.76 after the maker of industrial cameras said MVTec Software announced that the US patent and trademark office has canceled all claims of US Patent No. 6,850,646 that the company had asserted against the machine-vision software manufacturer.

Concur Technologies, Inc. ((CNQR)) rose 0.6% or 26 cents to $43.66 after the travel expenses management software said it sells its services on a subscription through Internet for a fee and no longer sells the software on CD.

Delta Air Lines, Inc. ((DAL)) fell 8.8% or $1.03 to $10.69 after the airline reported second quarter revenues rose 17% to $8.17 billion from $7.00 billion a year ago. Net income in the quarter was $467 million or 55 cents per diluted share compared to net loss of $257 million or 31 cents per share a year ago.

Google Inc. ((GOOG)) rose 0.2% or $1.20 to $460.81.

Halliburton Company, ((HAL)) added 4.6% or $1.29 to $28.86 after the oil and gas service explorer reported second quarter revenues rose 26% to $4.4 billion from $3.5 billion a year ago. Net income in the quarter rose 83% to $480 million or 53 cents per diluted share compared to net income of $262 million or 29 cents per share a year ago.

Hasbro, Inc., ((HAS)) decreased 3.8% or $1.59 to $39.50 after the toy maker reported second quarter revenues fell 7% to $737.8 million from $792.2 million a year ago. Net income in the quarter rose 11% to $43.6 million or 29 cents per diluted share compared to net income of $39.3 million or 26 cents per share a year ago.

Koninklijke Philips Electronics N.V. ((PHG)) fell 2.4% or 77 cents to $31.17 after the healthcare, lifestyle and lighting company said first half sales rose 15.5% to €11.9 billion from €10.3 billion. Net profit for the first half was €459 million or €0.49 per diluted share compared to of net loss of €15 million or €0.02 per share a year ago.

MTS Systems Corporation ((MTSC)) rose 3.5% or 99 cents to $28.84 after the global supplier of test systems and industrial position sensors reported second quarter revenues fell 12% to $94.3 million from $107.7 million a year ago. Net income in the quarter fell 17% to $6.2 million or 37 cents per diluted share compared to net income of $7.5 million or 44 cents per share a year ago.

Motorola, Inc. ((MOT)) rose 2.1% or 16 cents to $7.66 after the handset maker and Nokia Siemens Networks today jointly announced that the companies have entered into an agreement under which Nokia Siemens Networks will acquire the majority of Motorola''s wireless network infrastructure assets for $1.2 billion in cash.

Office Depot, Inc. ((ODP)) declined 5.5% or 24 cents to $4.06 after the office-supplies retailer said it won’t bid for the new Los Angeles County office supplies agreement, according to Bloomberg report.

PetMed Express, Inc. ((PETS)) plunged 17.4% or $3.08 to $14.54 after the pet medications marketer reported first quarter revenues fell 12% to $74.4 million from $77.2 million a year ago. Net income in the quarter fell 11% to $7.2 million or 32 cents per diluted share compared to net income of $8.1 million or 36 cents per share a year ago.

Quicksilver Resources Inc. ((KWK)) gained 8.4% or 93 cents to $11.91 after India based Reliance Industries is in talks with the company including for a possible buyout of the U.S. firm that develops shale gas and coal-bed methane, the Daily News & Analysis reported on Monday.

Safeway Inc. ((SWY)) rose 0.3% or 7 cents to $19.90.

V.F. Corporation ((VFC)) decreased 4.1% or $3.19 to $72.87 on media speculation.