IBM, Goldman, J&J, Tupperware Fall

Mayank Mehta
20 Jul, 2010
New York City

Tupperware Brands Corporation led the decliners in the S&P 500 index with a loss of 15.2%. Harley-Davidson net income more than triples. Tupperware second quarter profit jumps 75%. IBM net rises 10% on slight sales increase. Marshall & Ilsley narrows loss.

[R]10:20 AM New York - Tupperware Brands Corporation led the decliners in the S&P 500 index with a loss of 15.2%. Harley-Davidson net income more than triples. Tupperware second quarter profit jumps 75%. IBM net rises 10% on slight sales increase. Marshall & Ilsley narrows loss.[/R]

Tupperware Brands Corporation led the decliners in the S&P 500 index with a loss of 15.2% followed by losses in RadioShack Corporation of 10.3% and in Zions Bancorporation of 8.6%, and in ManTech International Corporation of 7.7% and in Atheros Communications, Inc. of 7.6%.

Weyerhaeuser Timber Company led gainers in the S&P 500 index with a rise of 172.3% followed by gains in Harley-Davidson, Inc of 9.8%, in Discovery Communications Inc. of 6.8% and in IDEX Corporation of 5.5%.

Other Movers

A. O. Smith Corporation ((AOS)) decreased 0.4% or 21 cents to $51.71 after the water heater and electric motor manufacturer reported second quarter revenues rose 15% to $572.5 million from $498.7 million a year ago. Net income in the quarter fell 22% to $16.6 million or 54 cents per diluted share compared to net income of $21.3 million or 84 cents per share a year ago.

Atheros Communications, Inc. ((ATHR)) decreased 6.8% or $2.10 to $28.36 after the semiconductor maker said second quarter revenues rose 112% to $238.2 million from $112.2 million a year ago. Net income in the quarter was $29.7 million or 41 cents per diluted share compared to net loss of $250,000 or break even per share a year ago.

Brown & Brown, Inc. ((BRO)) fell 0.4% or 9 cents to $18.98 after the insurer said second quarter revenues fell 1% to $243.7 million from $246.4 million a year ago. Net income in the quarter rose 1% to $41.2 million or 29 cents per diluted share compared to net income of $40.7 million or 29 cents per share a year ago.

Crown Holdings, Inc. ((CCK)) dropped 0.3% or 8 cents to $25.78 after the can manufacturer said second quarter revenues fell 2.4% to $2.01 billion from $2.06 billion a year ago. Net income in the quarter rose 7% to $112 million or 69 cents per diluted share compared to net income of $105 million or 65 cents per share a year ago.

The Goldman Sachs Group, Inc. ((GS)) fell 2.3% or $3.29 to $142.30 after the bank reported second quarter revenues fell 36% to $8.84 billion from $13.8 billion a year ago. Net income in the quarter fell 83% to $453 million or 78 cents per diluted share compared to net income of $2.72 billion or $4.93 per share a year ago.

Harley-Davidson, Inc. ((HOG)) fell 1.2% or 30 cents to $23.31 after the motorcycle maker reported second quarter revenues were flat at $1.14 billion. Net income in the quarter rose 260% to $71.2 million or 30 cents per diluted share compared to net income of $19.8 million or 8 cents per share a year ago.

International Business Machines Corporation ((IBM)) fell 4.3% or $5.58 to $124.21 after the information technology company said second quarter revenues rose 2% to $23.3 billion from $22.7 billion a year ago. Net income in the quarter rose 10% to $3.4 billion or $2.61 per diluted share compared to net income of $3.1 billion or $2.32 per share a year ago.

ICU Medical, Inc ((ICUI)) gained 7.6% or $2.63 to $37.00 after the maker of connectors used in intravenous therapy said it expects 2010 earnings of $1.85 to $1.92 per share on revenue of $270.0 million to $275.0 million.

Johnson & Johnson ((JNJ)) declined 2.1% or $1.26 to $58.27 after the health care company reported second quarter revenues rose 0.7% to $15.3 billion from $15.2 billion a year ago. Net income in the quarter rose 7.5% to $3.45 billion or $1.23 per diluted share compared to net income of $3.21 billion or $1.15 per share a year ago.

Marshall & Ilsley Corporation ((MI)) dropped 5.9% or 46 cents to $7.25 after the bank reported second quarter net interest income rose 2% to $407.3 million from $398.5 million a year ago. Net loss in the quarter was $173.8 million or 33 cents per diluted share compared to net loss of $234.0 million or 83 cents per share a year ago.

Omnicom Group Inc. ((OMC)) dropped 0.4% or 15 cents to $35.84 after the marketing and corporate communications company reported second quarter revenues rose 6% to $3.04 billion from $2.87 billion a year ago. Net income in the quarter rose 4% to $243.3 million or 79 cents per diluted share compared to net income of $233.4 million or 75 cents per share a year ago.

Packaging Corporation of America ((PKG)) advanced 3.1% or 73 cents to $23.65 after the maker of containerboard and corrugated packaging products said second quarter revenues rose 12% to $615.5 million from $549.4 million a year ago. Net income in the quarter fell 65% to $38 million or 69 cents per diluted share compared to net income of $108.9 million or $1.07 per share a year ago.

PepsiCo, Inc. ((PEP)) fell 0.7% or 44 cents to $61.61 after the global food, snack and beverage company reported second quarter revenues rose 40% to $14.8 billion from $10.6 billion a year ago. Net income in the quarter fell 3.6% to $1.60 billion or 98 cents per diluted share compared to net income of $1.66 billion or $1.06 per share a year ago.

Polaris Industries Inc., ((PII)) added 3.0% or $1.82 to $61.76 after the manufacturer of off-road vehicles reported second quarter revenues rose 25% to $430.9 million from $345.9 million a year ago. Net income in the quarter rose 47% to $25.6 million or 75 cents per diluted share compared to net income of $17.5 million or 53 cents per share a year ago.

TD Ameritrade Holding Corporation ((AMTD)) rose 0.5% or 8 cents to $15.90 after the provider of securities brokerage services reported third quarter revenues rose 13% to $691.8 million from $613.8 million a year ago. Net income in the quarter rose 5% to $179.4 million or 30 cents per diluted share compared to net income of $170.5 million or 30 cents per share a year ago.

Texas Instruments Incorporated ((TXN)) declined 5.2% or $1.35 to $24.20 after the maker of semiconductors said second quarter revenues rose 42% to $3.5 billion from $2.46 billion a year ago. Net income in the quarter rose 196% to $769 million or 62 cents per diluted share compared to net income of $260 million or 20 cents per share a year ago.

Toyoto Motor Corporation ((TM)) fell 1.8% or $1.32 to $69.90 after the automaker said today it has been subpoenaed by a federal grand jury in New York to submit documents related to problems with steering relay rods, meaning the company faces expanded investigations into its vehicle safety, according to a WSJ report.

Tupperware Brands Corporation ((TUP)) plunged 10.9% or $4.72 to $38.55 after the consumer products maker said second quarter revenues rose 8% to $565.1 million from $524.7 million a year ago. Net income in the quarter rose 75% to $57.9 million or 90 cents per diluted share compared to net income of $33.1 million or 52 cents per share a year ago.

UAL Corporation ((UAUA)) added 0.3% or 8 cents to $21.26 after the airline company reported second quarter revenues rose 28.4% to $5.16 billion from $4.02 billion a year ago. Net income in the quarter rose 875% to $273 million or $1.29 per diluted share compared to net income of $28 million or 19 cents per share a year ago.

UnitedHealth Group Incorporated ((UNH)) rose 1.7% or 55 cents to $31.37 after the health insurer reported second quarter revenues rose 7% to $23.26 billion from $21.66 billion a year ago. Net income in the quarter rose 31% to $1.12 billion or 99 cents per diluted share compared to net income of $859 million or 73 cents per share a year ago.

Whirlpool Corporation ((WHR)) dropped 2.0% or $1.86 to $89.50 after the home appliances firm second quarter revenues rose 9% to $4.53 billion from $4.17 billion a year ago. Net income in the quarter rose 163% to $205 million or $2.64 per diluted share compared to net income of $78 million or $1.04 per share a year ago.

Zions Bancorporation ((ZION)) fell 2.6% or 57 cents to $20.85 after the financial company said second quarter net interest income fell 16% to $413.3 million from $493.7 million a year ago. Net loss in the quarter was $135.2 million or 84 cents per diluted share compared to net loss of $23.8 million or 21 cents per share a year ago.