Apple, Morgan Stanley, Wells Fargo Gain

Mayank Mehta
21 Jul, 2010
New York City

Harley-Davidson, Inc. led gainers in the S&P 500 index with a rise of 13.6%. Apache to offer 21 million shares of common stock and $1.1 billion of mandatory convertible preferred stock. Juniper posts higher profit on 24% gain in sales. Apple earnings soar in third quarter. Yahoo net rises 51%.

[R]11:20 AM New York - Harley-Davidson, Inc. led gainers in the S&P 500 index with a rise of 13.6%. Apache to offer 21 million shares of common stock and $1.1 billion of mandatory convertible preferred stock. Juniper posts higher profit on 24% gain in sales. Apple earnings soar in third quarter. Yahoo net rises 51%.[/R]

Hancock Holding Company led the decliners in the S&P 500 index with a loss of 11.6% followed by losses in Yahoo! Inc. of 7.9% and in Marshall & Ilsley Corporation of 7.9%, and in Tupperware Brands Corporation of 7.6% and in RadioShack Corporation of 6.5%.

Harley-Davidson, Inc. led gainers in the S&P 500 index with a rise of 13.6% followed by gains in J. Crew Group, Inc. of 9.4%, in MGIC Investment Corporation of 9.3% and in J. C. Penney Company, Inc. of 9.1% and in Cliffs Natural Resources Inc. of 8.1%.

Other Movers

AirTran Holdings, Inc. ((AAI)) rose 3.1% or 15 cents to $4.90 after the parent of discount carrier AirTran Airways reported second quarter revenues rose 16% to $700.6 million from $603.7 million a year ago. Net income in the quarter fell 84% to $12.4 million or 9 cents per diluted share compared to net income of $78.4 million or 56 cents per share a year ago.

Abbott Laboratories ((ABT)) rose 1.0% or 48 cents to $47.95 after the health care company reported second quarter revenues rose 18% to $8.83 billion from $7.50 billion a year ago. Net income in the quarter was flat at $1.29 billion or 83 cents per diluted share compared to net income of $1.29 billion or 83 cents per share a year ago.

Allscripts-Misys Healthcare Solutions, Inc. ((MDRX)) declined 1.7% or 29 cents to $16.60 after the healthcare IT provider said fourth quarter revenues rose 14% to $190.3 million from $166.3 million a year ago. Net income in the quarter rose 17% to $15.7 million or 10 cents per diluted share compared to net income of $13.4 million or 9 cents per share a year ago.

Altera Corporation ((ALTR)) decreased 0.04% or 1 cent to $28.30 after the semiconductor company said second quarter revenues rose 68% to $469.3 million from $279.2 million a year ago. Net income in the quarter rose 281% to $180.6 million or 58 cents per diluted share compared to net income of $47.4 million or 16 cents per share a year ago.

Altria Group, Inc. ((MO)) rose 0.4% or 10 cents to $21.62 after the cigarette maker reported second quarter revenues fell 6% to $6.3 billion from $6.7 billion a year ago. Net income in the quarter rose 3% to $1.04 billion or 50 cents per diluted share compared to net income of $1.01 billion or 49 cents per share a year ago.

Apache Corporation ((APA)) fell 1.3% or $1.18 to $87.10 after the oil and natural-gas producer announced that it is commencing a registered underwritten public offering of 21 million shares of its common stock. Concurrently with the common stock offering, Apache is commencing a separate registered underwritten public offering of $1.1 billion of mandatory convertible preferred stock consisting of 22 million depositary shares.

Apple Inc. ((AAPL)) added 3.0% or $7.61 to $259.31 after the maker of personal computers and iPhones said third quarter revenues rose 62% to $15.7 billion from $9.7 billion a year ago. Net income in the quarter rose 78% to $3.25 billion or $3.51 per diluted share compared to net income of $1.83 billion or $2.01 per share a year ago.

AptarGroup, Inc. ((ATR)) advanced 1.3% or 54 cents to $40.26 after the maker of dispensers for perfumes and other liquids said second quarter revenues rose 19% to $522.9 million from $440.5 million a year ago. Net income in the quarter rose 64% to $46.7 million or 67 cents per diluted share compared to net income of $28.5 million or 41 cents per share a year ago.

Arbitron Inc. ((ARB)) advanced 1.6% or 42 cents to $26.59 after the media and marketing research firm reported second quarter revenues rose 2% to $88.3 million from $86.8 million a year ago. Net income in the quarter rose 8.6% to $3.8 million or 14 cents per diluted share compared to net income of $3.5 million or 13 cents per share a year ago.

Cintas Corporation ((CTAS)) rose 0.9% or 25 cents to $25.93 after the corporate uniform supplier said fourth quarter revenues rose 3.5% to $909.4 million from $878.6 million a year ago. Net income in the quarter rose 1,254% to $55.5 million or 36 cents per diluted share compared to net income of $4.1 million or 3 cents per share a year ago.

Check Point Software Technologies Ltd. ((CHKP)) added 2.2% or 75 cents to $33.99 after the provider of software products and services for IT security reported second quarter revenues rose 17% to $261.1 million from $223.6 million a year ago. Net income in the quarter rose 36% to $102.9 million or 48 cents per diluted share compared to net income of $75.6 million or 36 cents per share a year ago.

The Coca-Cola Company ((KO)) rose 1.9% or $1.04 to $54.26 after the drink maker reported second quarter revenues rose 5% to $8.67 billion from $8.27 billion a year ago. Net income in the quarter rose 16% to $2.37 billion or $1.02 per diluted share compared to net income of $2.04 billion or 88 cents per share a year ago.

CNH Global N.V. ((CNH)) fell 1.8% or 51 cents to $27.69 after the maker of farm and construction equipment said second quarter revenues rose 10% to $3.9 billion from $3.56 billion a year ago. Net income in the quarter was $144.0 million or 60 cents per diluted share compared to net loss of $67.0 million or 28 cents per share a year ago.

Cytec Industries Inc. ((CYT)) surged 12.1% or $5.21 to $48.00 after the global specialty chemicals and materials company said second quarter revenues rose 27.5% to $873.9 million from $685.3 million a year ago. Net income in the quarter was $61.8 million or $1.24 per diluted share compared to net loss of $24.8 million or 52 cents per share a year ago.

Eaton Corporation ((ETN)) climbed 2.5% or $1.73 to $70.79 after the diversified power management company reported second quarter revenues rose 16.6% to $3.38 billion from $2.90 billion a year ago. Net income in the quarter rose 679% to $226.0 million or $1.33 per diluted share compared to net income of $29.0 million or 17 cents per share a year ago.

Fidelity National Information Services, Inc. ((FIS)) fell 1.3% or 38 cents to $27.52 after the providers of banking and payments technology said second quarter revenues rose 55% to $1.29 billion from $829.2 million a year ago. Net income in the quarter rose 52% to $89.9 million or 23 cents per diluted share compared to net income of $59.2 million or 31 cents per share a year ago.

Freeport-McMoRan Copper & Gold Inc. ((FCX)) gained 5.1% or $3.32 to $67.64 after the copper, gold and molybdenum mining company reported second quarter revenues rose 5% to $3.86 billion from $3.68 billion a year ago. Net income in the quarter rose 10% to $649 million or $1.40 per diluted share compared to net income of $588 million or $1.38 per share a year ago.

Genzyme Corporation ((GENZ)) dropped 1.7% or 91 cents to $51.03 after the biotechnology company reported second quarter revenues fell 12% to $1.08 billion from $1.23 billion a year ago. Net income in the quarter fell 88% to $23,000 or break even per diluted share compared to net income of $187.6 million or 68 cents per share a year ago.

Gilead Sciences, Inc. ((GILD)) rose 0.2% or 7 cents to $33.07 after the maker of AIDS drugs expected the company to report earnings of 87 cents per share on revenue of $1.96 billion.

General Maritime Corporation ((GMR)) rose 2.6% or 16 cents to $6.10 after the provider of seaborne crude-oil transportation services was upgraded to “overweight” from “neutral” at JPMorgan Chase Bank.

Host Hotels & Resorts, Inc. ((HST)) fell 0.2% or 4 cents to $13.96 after the hotel operator reported second quarter revenues rose 6% to $1.11 billion from $1.05 billion a year ago. Net income in the quarter was $13 million or 2 cents diluted share compared to net loss of $70 million or 12 cents per share a year ago.

Illinois Tool Works Inc ((ITW)) rose 0.02% or 1 cent to $42.76 an industrial equipment maker said second quarter revenues rose 20% to $4.08 billion from $3.39 billion a year ago. Net income in the quarter rose 138% to $420.8 million or 83 cents per diluted share compared to net income of $176.6 million or 35 cents per share a year ago.

Juniper Networks, Inc. ((JNPR)) dropped 2.5% or 69 cents to $26.00 after the maker of computer networking gear said second quarter revenues rose 24% to $978.3 million from $786.4 million a year ago. Net income in the quarter rose 782% to $130.5 million or 24 cents per diluted share compared to net income of $14.8 million or 3 cents per share a year ago.

Knight Capital Group, Inc. ((KCG)) rose 3.5% or 50 cents to $14.69 after the trader of U.S. shares announces consolidated earnings of 58 cents per diluted share for the second quarter 2010.

Linear Technology Corporation ((LLTC)) rose 0.06% or 2 cents to $31.42 after the chip maker said fourth quarter revenues rose 76% to $366.2 million from $208.0 million a year ago. Net income in the quarter rose 142% to $124.5 million or 54 cents per diluted share compared to net income of $51.4 million or 23 cents per share a year ago.

Lufkin Industries, Inc. ((LUFK)) fell 2.8% or $1.20 to $41.00 after the oilfield services provider reported second quarter revenues rose 23.5% to $152.8 million from $123.7 million a year ago. Net income in the quarter rose 136% to $10.6 million or 35 cents per diluted share compared to net income of $4.5 million or 15 cents per share a year ago.

Manpower Inc. ((MAN)) fell 0.9% or 42 cents to $46.02 after the global staffing services company reported second quarter revenues rose 21% to $4.59 billion from $3.79 billion a year ago. Net income in the quarter rose 101% to $32.7 million or 40 cents diluted share compared to net income of $16.3 million or 21 cents per share a year ago.

Morgan Stanley ((MS)) gained 6.0% or $1.54 to $26.76 after the global financial services firm reported second quarter revenues rose 53% to $7.95 billion from $5.2 billion a year ago. Net income in the quarter was $1.58 billion or $1.09 diluted share compared to net loss of $1.26 billion or $1.10 per share a year ago.

M&T Bank Corporation ((MTB)) rose 1.6% or $1.1 to $86.22 after the bank reported second quarter net interest income rose 13% to $567.2 million from $501.6 million a year ago. Net income in the quarter rose 269% to $188.7 million or $1.46 per diluted share compared to net income of $51.2 million or 36 cents per share a year ago.

Peabody Energy Corporation ((BTU)) rose 1.7% or 75 cents to $43.06 after the coal producer said second quarter revenues rose 24% to $1.66 billion from $1.34 billion a year ago. Net income in the quarter rose 160% to $206.2 million or 76 cents per diluted share compared to net income of $79.2 million or 29 cents per share a year ago.

Piper Jaffray Companies ((PJC)) dropped 0.5% or 16 cents to $30.06 after the international investment bank reported second quarter revenues fell 3.5% to $127.7 million from $132.3 million a year ago. Net income in the quarter fell 36% to $7.4 million or 36 cents per diluted share compared to net income of $11.6 million or 59 cents per share a year ago.

Stanley Black & Decker, Inc. ((SWK)) climbed 5.4% or $2.88 to $55.50 after the tool maker reported second quarter revenues rose 157% to $2.37 billion from $919.2 million a year ago. Net income in the quarter fell 34% to $45.8 billion or 28 cents per diluted share compared to net income of $69.5 million or 87 cents per share a year ago.

Textron Inc. ((TXT)) increased 6.8% or $1.28 to $19.31 after the aerospace and defense company reported second quarter revenues rose 4% to $2.71 billion from $2.61 billion a year ago. Net income in the quarter was $82 million or 27 cents per diluted share compared to net loss of $58 million or 22 cents per share a year ago.

U.S. Bancorp ((USB)) advanced 2.2% or 52 cents to $23.67 after the multi-state financial services company reported second quarter net interest income rose 15% to $2.36 billion from $2.05 billion a year ago. Net income in the quarter rose 290% to $862 million or 45 cents per diluted share compared to net income of $221 million or 12 cents per share a year ago.

Wells Fargo & Company ((WFC)) climbed 4.6% or $1.20 to $27.11 after the bank reported second quarter revenues fell 5% to $21.4 billion from $22.5 billion a year ago. Net income in the quarter rose 12% to $2.88 billion or 55 cents per diluted share compared to net income of $2.58 billion or 57 cents per share a year ago.

Yahoo! Inc. ((YHOO)) decreased 6.1% or 93 cents to $14.27 after the online media company said second quarter revenues rose 2% to $1.60 billion from $1.57 billion a year ago. Net income in the quarter rose 51% to $213.3 million or 15 cents per diluted share compared to net income of $141.4 million or 10 cents per share a year ago.