Beckman Declines; A123 Systems, Sohu Rise

Mayank Mehta
26 Jul, 2010
New York City

Beckman Coulter, Inc. led the decliners in the S&P 500 index with a loss of 21.1%. Clorox to sell its auto care products for $750 million. Lorillard second quarter net fall 8% on flat sales.

[R]11:00 AM New York - Beckman Coulter, Inc. led the decliners in the S&P 500 index with a loss of 21.1%. Clorox to sell its auto care products for $750 million. Lorillard second quarter net fall 8% on flat sales.[/R]

Beckman Coulter, Inc. led the decliners in the S&P 500 index with a loss of 21.1% followed by losses in QLogic Corporation of 16.3% and in BancorpSouth, Inc. of 16.1%, and in Chico’s FAS, Inc. of 4.3% and in American Medical Systems Holdings, Inc. of 3.2%.

A123 Systems, Inc. led gainers in the S&P 500 index with a rise of 11.3% followed by gains in Onyx Pharmaceuticals, Inc. of 10.9%, in Changyou.com Limited of 5.9% and in Alberto-Culver Company of 5.4% and in Genzyme Corporation of 5.3%.

Other Movers

Alberto-Culver Company ((ACV)) fell 0.3% or 11 cents to $29.40 after the manufacturer and marketer of beauty care brands reported third quarter revenues rose 19% to $417.6 million from $351.6 million a year ago. Net income in the quarter rose 69% to $47.2 million or 47 cents per diluted share compared to net income of $28 million or 28 cents per share a year ago.

A123 Systems, Inc. ((AONE)) rose 2.9% or 28 cents to $9.70 after the maker of lithium batteries for plug-in cars was upgraded to “overweight” from “equal weight” at Barclays Plc.

AT&T Inc. ((T)) rose 0.7% or 20 cents to $25.74 after the phone company was upgraded to “buy” from “hold” at Deutsche Bank AG.

Cal-Maine Foods, Inc., ((CALM)) fell 0.9% or 29 cents to $29.69 after the egg seller and distributor reported fourth quarter sales rose 4% to $222.1 million from $213.6 million a year ago. Net income in the quarter rose 104% to $21 million or 88 cents per diluted share compared to net income of $10.3 million or 43 cents per share a year ago.

Chico’s FAS, Inc. ((CHS)) dropped 3.8% or 39 cents to $9.85 after the women’s clothing retailer said Goldman Sachs added Chico''s FAS, Inc. to its conviction sell list as the retailer changes the mix of product line.

The Clorox Company ((CLX)) rose 0.7% or 49 cents to $65.43 after the maker of household-cleaning products received more than 12 preliminary bids for its STP and Armor All auto-care brands and is seeking about $750 million for the assets, according to Bloomberg report that did not cite anyone.

Core-Mark Holding Company, Inc. ((CORE)) fell 0.2% to $28.94 after the distributor of packaged goods to conveniences stores announced that it signed an agreement to acquire substantially all of the assets of Finkle Distributors, Inc. for approximately $43 million.

The Estee Lauder Companies Inc. ((EL)) dropped 1.2% or 78 cents to $61.89 after the maker of makeup lines was downgraded to “underperform” from “market perform” at Oppenheimer & Co. Inc.

Lorillard, Inc. ((LO)) rose 1.5% or $1.20 to $77.50 after the cigarette maker reported second quarter revenues were flat at $1.52 billion. Net income in the quarter fell 8% to $263 million or $1.73 per diluted share compared to net income of $286 million or $1.71 per share a year ago.

MEMC Electronic Materials, Inc. ((MEMC)) increased 3.8% or 45 cents to $12.13 after the maker of wafers for semiconductors was upgraded to “overweight” from “equalweight” at Barclays Capital Inc.

Onyx Pharmaceuticals, Inc. ((ONXX)) surged 10.5% or $2.27 to $23.77 after the drugmaker today announced positive top-line results from the Phase 2b 003-A1 study of single-agent carfilzomib, a selective, next generation proteasome inhibitor in patients with relapsed and refractory multiple myeloma.

Porter Bancorp, Inc. ((PBIB)) fell 2.1% or 24 cents to $11.10 after the lender reported second quarter net loss of 15 cents a share compared to net profit of 31 cents a share a year ago.

Roper Industries, Inc. ((ROP)) rose 0.9% or 56 cents to $62.57 after the diversified manufacturer reported second quarter revenues rose 12% to $567.1 million from $504.9 million a year ago. Net income in the quarter rose 19.6% to $71.3 million or 74 cents per diluted share compared to net income of $59.6 million or 64 cents per share a year ago.

RPM International Inc. ((RPM)) rose 0.05% or 1 cent to $19.00 after the chemical maker reported fourth quarter sales rose 13% to $971.5 million from $857.3 million a year ago. Net income in the quarter rose 54% to $60.5 million or 47 cents per diluted share compared to net income of $39.3 million or 31 cents per share a year ago.

Sohu.com Inc. ((SOHU)) increased 4.2% or $1.91 to $46.95 after the Internet company in China reported second quarter revenues rose 15% to $146.1 million from $127.1 million a year ago. Net income in the quarter was flat at $33.5 million or 88 cents per diluted share compared to net income of $33.5 million or 88 cents per share a year ago.