Chipotle Mexican Grill Gains; Amazon Falls

Mayank Mehta
23 Jul, 2010
New York City

AmeriCredit Corp. led gainers in the S&P 500 index with a rise of 2.6%. Microsoft tops views with 48% profit gain. American Express quarterly net income touches $1 billion. Amazon earnings jump 46% in second quarter. Capital One swings to quarterly net income $608 million.

[R]11:00 AM New York - AmeriCredit Corp. led gainers in the S&P 500 index with a rise of 2.6%. Microsoft tops views with 48% profit gain. American Express quarterly net income touches $1 billion. Amazon earnings jump 46% in second quarter. Capital One swings to quarterly net income $608 million.[/R]

SLM Corporation led the decliners in the S&P 500 index with a loss of 11.3% followed by losses in Stryker Corporation of 8.8% and in Tenet Healthcare Corporation of 6.5%, and in Quest Diagnostics Incorporated of 6.5% and in Marshall & Ilsley Corporation of 6.4%.

AmeriCredit Corp. led gainers in the S&P 500 index with a rise of 2.6% followed by gains in Janus Capital Group Inc. of 1.0%, in Deluxe Corporation of 1.1% and in Royal Caribbean Cruises Ltd. of 1.1% and in W.R. Grace & Co. of 0.8%.

Other Movers

Align Technology, Inc. ((ALGN)) surged 12.0% or $1.78 to $16.61 after the dental products company said second quarter revenues rose 42% to $108.2 million from $76.3 million a year ago. Net income in the quarter rose 624% to $32.6 million or 42 cents per diluted share compared to net income of $4.5 million or 7 cents per share a year ago.

AMCOL International Corporation ((ACO)) surged 9.4% or $2.41 to $27.95 after the producer of value-added, specialty minerals and related products reported second quarter revenues rose 29% to $220.7 million from $171.2 million a year ago. Net income in the quarter rose 164% to $16.1 million or 51 cents per diluted share compared to net income of $6.1 million or 20 cents per share a year ago.

Amazon.com, Inc. ((AMZN)) plunged 10.8% or $13.07 to $107.00 after the online retailer said second quarter revenues rose 42% to $6.6 billion from $4.65 billion a year ago. Net income in the quarter rose 46% to $207 million or 45 cents per diluted share compared to net income of $142 million or 32 cents per share a year ago.

American Express Company ((AXP)) fell 0.6% or 29 cents to $42.90 after the credit card company said second quarter revenues rose 13% to $6.9 billion from $6.1 billion a year ago. Net income in the quarter rose 202% to $1.02 billion or 84 cents per diluted share compared to net income of $337 million or 9 cents per share a year ago.

Ashland Inc. ((ASH)) added 4.3% or $2.07 to $49.48 after the global specialty chemicals company reported third quarter revenues rose 16% to $2.36 billion from $2.04 billion a year ago. Net income in the quarter rose 196% to $148 million or $1.85 per diluted share compared to net income of $50 million or 66 cents per share a year ago.

Beckman Coulter, Inc. ((BEC)) plunged 10.1% or $6.09 to $53.81 after the maker of laboratory equipment second quarter earnings dropped 27% as results fell short of analysts' expectations amid ongoing weakness in developed markets.

Capital One Financial Corporation ((COF)) dropped 2.6% or $1.10 to $40.98 after the diversified financial services company said second quarter revenues rose 23% to $3.9 billion from $3.18 billion a year ago. Net income in the quarter was $608 million or $1.33 per diluted share compared to net loss of $277 million or 66 cents per share a year ago.

Canadian National Railway Corporation ((CNI)) rose 0.05% or 3 cents to $61.32 after the rail and related transportation company said second quarter revenues rose 16% to C$2.09 billion from C$1.8 billion a year ago. Net income in the quarter rose 38% to C$534 million or C$1.13 per diluted share compared to net income of C$387 million or 82 cents per share a year ago.

The Cheesecake Factory Incorporated ((CAKE)) increased 3.9% or 98 cents to $25.73 after the casual dining chain said second quarter revenues rose 3% to $418.9 million from $407.9 million a year ago. Net income in the quarter rose 16% to $19.2 million or 32 cents per diluted share compared to net income of $16.6 million or 28 cents per share a year ago.

Celestica Inc. ((CLS)) fell 0.4% or 4 cents to $9.02 after the technology and engineering services provider reported second quarter revenues rose 14% to $1.59 billion from $1.40 billion a year ago. Net loss in the quarter was $6.1 million or 3 cents per diluted share compared to net income of $5.3 million or 2 cents per share a year ago.

The Chubb Corporation ((CB)) fell 0.1% or 7 cents to $52.13 after the insurer said second quarter net premiums written rose 4% to $2.9 billion from $2.8 billion a year ago. Net income in the quarter fell 6% to $518 million or $1.59 per diluted share compared to net income of $551 million or $1.54 per share a year ago.

Chipotle Mexican Grill, Inc. ((CMG)) added 4.2% or $5.59 to $138.75 after the burrito chain said second quarter revenues rose 20% to $466.8 million from $388.8 million a year ago. Net income in the quarter rose 31% to $46.5 million or $1.46 per diluted share compared to net income of $35.4 million or $1.10 per share a year ago.

Compuware Corporation ((CPWR)) plunged 12.1% or $1.04 to $7.51 after the software company said first quarter revenues fell 4% to $206.5 million from $214.4 million a year ago. Net income in the quarter fell 75% to $12.6 million or 6 cents per diluted share compared to net income of $51 million or 21 cents per share a year ago.

Cooper Industries plc ((CBE)) dropped 4.9% or $2.31 to $44.54 after the maker of electrical products and tools said second quarter revenues rose 5.3% to $1.34 billion from $1.27 billion a year ago. Net income in the quarter fell 53% to $41.6 million or 25 cents per diluted share compared to net income of $89.3 million or 53 cents per share a year ago.

Cymer, Inc. ((CYMI)) rose 1.9% or 64 cents to $34.40 after the supplier of light sources used by chipmakers said second quarter revenues rose 111% to $131.9 million from $62.4 million a year ago. Net income in the quarter rose 3,940% to $21.2 million or 70 cents per diluted share compared to net income of $525,000 or 2 cents per share a year ago.

Dover Corporation ((DOV)) rose 3.9% or $1.74 to $46.04 after the diversified manufacturer reported second quarter revenues rose 29% to $1.8 billion from $1.4 billion a year ago. Net income in the quarter rose 75% to $169.9 million or 90 cents per diluted share compared to net income of $97.1 million or 52 cents per share a year ago.

E*Trade Financial Corporation ((ETFC)) rose 7.1% or 95 cents to $14.30 after the online brokerage company said second quarter revenues fell 14% to $534.0 million from $620.9 million a year ago. Net income in the quarter was $35.1 million or 12 cents per diluted share compared to net loss of $143.2 million or $2.16 per share a year ago.

Honeywell International Inc. ((HON)) advanced 3.7% or $1.53 to $42.66 after the maker of cockpit electronics reported second quarter revenues rose 8% to $8.16 billion from $7.57 billion a year ago. Net income in the quarter rose 4% to $468 million or 60 cents per diluted share compared to net income of $450 million or 60 cents per share a year ago.

Immucor, Inc. ((BLUD)) rose 0.6% or 11 cents to $18.10 after the global in-vitro diagnostics company said fourth quarter sales rose 5% to $82.9 million from $79.0 million a year ago. Net income in the quarter rose 11% to $21.5 million or 30 cents per diluted share compared to net income of $19.4 million or 27 cents per share a year ago.

Idexx Laboratories, Inc. ((IDXX)) added 4.3% or $2.57 to $62.05 after the veterinary products maker reported second quarter revenues rose 6% to $281.5 million from $265.7 million a year ago. Net income in the quarter rose 10% to $37.2 million or 62 cents per diluted share compared to net income of $33.7 million or 55 cents per share a year ago.

Ingersoll-Rand plc ((IR)) fell 2.0% or 77 cents to $36.03 after the maker of cooling systems for homes reported second quarter revenues rose 7% to $3.7 billion from $3.45 billion a year ago. Net income in the quarter rose 60% to $196.4 million or 58 cents per diluted share compared to net income of $122.1 million or 38 cents per share a year ago.

Kimberly-Clark Corporation ((KMB)) fell 0.4% or 27 cents to $62.69 after the global health and hygiene company reported second quarter revenues rose 3% to $4.86 billion from $4.73 billion a year ago. Net income in the quarter rose 24% to $498 million or $1.20 per diluted share compared to net income of $403 million or 97 cents per share a year ago.

Leggett & Platt ((LEG)) rose 0.1% or 3 cents to $21.35 after the diversified manufacturer said second quarter revenues rose 15% to $874.3 million from $757.4 million a year ago. Net income in the quarter rose 177% to $52.7 million or 34 cents per diluted share compared to net income of $19.0 million or 12 cents per share a year ago.

Matthews International Corporation ((MATW)) gained 4.4% or $1.33 to $31.19 after the memorialization products maker said third quarter revenues rose 11% to $213.3 million from $192.0 million a year ago. Net income in the quarter rose 13% to $20.4 million or 68 cents per diluted share compared to net income of $18.1 million or 60 cents per share a year ago.

Microsoft Corporation ((MSFT)) declined 0.5% or 15 cents to $25.69 after the software company said fourth quarter revenues rose 22% to $16.04 billion from $13.1 billion a year ago. Net income in the quarter rose 48% to $4.52 billion or 51 cents per diluted share compared to net income of $3.05 billion or 34 cents per share a year ago.

NxStage Medical, Inc. ((NXTM)) added 7.7% or $1.07 to $14.90 after the medical device company reported second quarter revenues rose 21% to $44 million from $36.4 million a year ago. Net loss in the quarter was $8.3 million or 17 cents per diluted share compared to net loss of $12.5 million or 27 cents per share a year ago.

Penn National Gaming, Inc. ((PENN)) fell 0.4% or 12 cents to $26.30 after the casino operator second quarter revenues rose 3% to $598.3 million from $580.8 million a year ago. Net income in the quarter fell 68% to $9.2 million or 9 cents per diluted share compared to net income of $28.5 million or 27 cents per share a year ago.

QLogic Corporation ((QLGC)) plunged 10.4% or $1.96 to $16.89 after the network equipment maker said first quarter revenues rose 16% to $142.6 million from $122.8 million a year ago. Net income in the quarter rose 69% to $25.4 million or 22 cents per diluted share compared to net income of $15 million or 13 cents per share a year ago.

McDonald’s Corporation ((MCD)) dropped 1.1% or 85 cents to $70.55 after the restaurant chain reported second quarter revenues rose 5% to $5.95 billion from $5.65 billion a year ago. Net income in the quarter rose 12% to $1.23 billion or $1.13 per diluted share compared to net income of $1.09 billion or 98 cents per share a year ago.

The Mosaic Company ((MOS)) added 2.7% or $1.25 to $46.20 after the fertilizer maker said fourth quarter revenues rose 19% to $1.9 billion from $1.6 billion a year ago. Net income in the quarter rose 170% to $396.1 million or 89 cents per diluted share compared to net income of $146.9 million or 33 cents per share a year ago.

Ryder System, Inc., ((R)) added 3.1% or $1.37 to $44.56 after the provider of transportation and supply chain management solutions reported second quarter revenues rose 6% to $1.29 billion from $1.21 billion a year ago. Net income in the quarter rose 30% to $29.8 million or 56 cents per diluted share compared to net income of $22.9 million or 41 cents per share a year ago.

SanDisk Corporation ((SNDK)) decreased 7.1% or $3.10 to $40.00 after the maker of flash-memory cards said second quarter revenue of $1.18 billion increased 61% on a year-over-year basis and increased 9% on a sequential basis.

Schlumberger Limited ((SLB)) fell 2.8% or $1.75 to $59.55 after the oil services company reported second quarter revenues rose 7% to $5.94 billion from $5.53 billion a year ago. Net income in the quarter rose 33% to $818 million or 68 cents per diluted share compared to net income of $613 million or 51 cents per share a year ago.

The Travelers Companies, Inc. ((TRV)) fell 1.0% or 50 cents to $48.79 after the insurer was downgraded to “market perform” from “outperform” at Oppenheimer & Co.

Verizon Communications Inc. ((VZ)) rose 3.1% or 86 cents to $27.86 after the provider of communications services reported second quarter revenues fell 0.4% to $26.8 billion from $26.9 billion a year ago. Net loss in the quarter was $198 million or 7 cents per diluted share compared to net income of $1.48 billion or 52 cents per share a year ago.

Wipro Limited ((WIT)) added 1.6% or 22 cents to $13.50 after the provider of information technology solutions and services reported second quarter revenues fell 11% to Rs 63.9 billion from Rs 71.9 billion a year ago. Net income in the quarter fell 23% to $10.2 billion or $4.14 per diluted share compared to net income of $13.3 billion or $5.42 cents per share a year ago.