UBS, DuPont, Cummins Gain

Mayank Mehta
27 Jul, 2010
New York City

Advanced Semiconductor Engineering, Inc. led gainers in the S&P 500 index with a surge of 20.7%. Arch Capital net income jumps. Fluor posts lower profit and lifts outlook. Legg Mason quarterly net income slips 4%. CIT profit up 46% and debt reduced. Office Depot second quarter loss narrows.

[R]11:00 AM New York - Advanced Semiconductor Engineering, Inc. led gainers in the S&P 500 index with a surge of 20.7%. Arch Capital net income jumps. Fluor posts lower profit and lifts outlook. Legg Mason quarterly net income slips 4%. CIT profit up 46% and debt reduced. Office Depot second quarter loss narrows.[/R]

Carlisle Companies, Inc. led the decliners in the S&P 500 index with a loss of 13.6% followed by losses in Sanmina-SCI Corporation of 11.7% and in Momenta Pharmaceuticals, Inc. of 6.9%, and in Thermo Fisher Scientific Inc. of 6.4% and in Aaron''s Inc. of 6.3%.

Advanced Semiconductor Engineering, Inc. led gainers in the S&P 500 index with a rise of 20.7% followed by gains in Unisys Corporation of 12.7%, in Lexmark International, Inc. of 11.6% and in Energizer Holdings, Inc. of 8.5% and in Regions Financial Corporation of 7.9%.

Other Movers

Aaron''s Inc. ((AAN)) decreased 4.4% or 81 cents to $17.50 after the furniture rental and sales company said second quarter revenues rose 7% to $445 million from $417.3 million a year ago. Net income in the quarter fell 12% to $24.4 million or 30 cents per diluted share compared to net income of $27.8 million or 34 cents per share a year ago.

AK Steel Holding Corporation ((AKS)) rose 3.6% or 55 cents to $15.75 after the steelmaker reported second quarter revenues rose 101% to $1.6 billion from $793.6 million a year ago. Net income in the quarter was $26.7 million or 24 cents per diluted share compared to net loss of $47.2 million or 43 cents per share a year ago.

Albemarle Corporation ((ALB)) added 2.6% or $1.20 to $46.45 after the specialty chemicals maker said second quarter revenues rose 33% to $592.5 million from $445.3 million a year ago. Net income in the quarter rose 112.5% to $81.8 million or 89 cents per diluted share compared to net income of $38.5 million or 42 cents per share a year ago.

Ametek, Inc. ((AME)) added 1.9% or 86 cents to $46.10 after the electronic instruments maker reported second quarter revenues rose 13% to $591.9 million from $524.9 million a year ago. Net income in the quarter rose 30% to $67.4 million or 63 cents per diluted share compared to net income of $51.8 million or 48 cents per share a year ago.

Arch Capital Group Ltd. ((ACGL)) rose 2.5% or $1.96 to $80.02 after the insurer said second quarter revenues fell 8.5% to $776.3 million from $848.7 million a year ago. Net income in the quarter rose 56% to $237 million or $4.45 per diluted share compared to net income of $152.1 million or $2.43 per share a year ago.

BE Aerospace, Inc. ((BEAV)) dropped 0.3% or 9 cents to $30.20 after the supplier of aircraft interior products reported second quarter revenues rose 2% to $483.9 million from $474.8 million a year ago. Net income in the quarter rose 7.5% to $37.3 million or 37 cents per diluted share compared to net income of $34.7 million or 35 cents per share a year ago.

Bemis Company, Inc. ((BMS)) rose 0.6% or 20 cents to $31.09 after the manufacturer of flexible packaging products reported second quarter revenues rose 47% to $1.27 billion from $866.4 million a year ago. Net income in the quarter rose 24% to $60.0 million or 54 cents per diluted share compared to net income of $48.5 million or 47 cents per share a year ago.

BP Plc ((BP)) fell 1.1% or 43 cents to $38.22 after the oil and gas explorer said second quarter revenues rose 34% to $75.9 billion from $56.6 billion a year ago. Net loss for the quarter was $17.2 billion or 91.29 cents per diluted share compared to net profit of $4.39 billion or 23.16 cents per share a year ago. The company also replaced its chief executive.

Crane Co. ((CR)) gained 4.3% or $1.50 to $36.36 after the industrial manufacturer said second quarter revenues rose 1% to $552.8 million from $545.5 million a year ago. Net income in the quarter rose 44% to $40 million or 67 cents per diluted share compared to net income of $27.8 million or 47 cents per share a year ago.

Ceradyne, Inc. ((CRDN)) fell 0.7% or 18 cents to $22.46 after the manufacturer of ceramic products and components reported second quarter revenues rose 16% to $100.4 million from $95.3 million a year ago. Net income in the quarter was $6.6 million or 26 cents per diluted share compared to net loss of $11.2 million or 44 cents per share a year ago.

CIT Group Inc. ((CIT)) rose 3.2% or $1.24 to $39.00 after the bank reported second quarter total interest income fell 5% to $993.5 million from $1.05 billion a year ago. Net income in the quarter rose 46% to $142.1 million or 71 cents per diluted share compared to net income of $97.3 million or 49 cents per share a year ago.

Corn Products International, Inc. ((CPO)) surged 14.2% or $4.86 to $39.00 after the corn refiner and producer of sweeteners said it expects 2010 earnings of $2.55 to $2.75 per share.

Cummins Inc. ((CMI)) gained 5.5% or $4.35 to $82.20 after the maker of engines and power generation equipment reported second quarter revenues rose 32% to $3.21 billion from $2.43 billion a year ago. Net income in the quarter rose 339% to $246 million or $1.25 per diluted share compared to net income of $56 million or 28 cents per share a year ago.

Domino’s Pizza, Inc. ((DPZ)) added 4.1% or 56 cents to $14.15 after the pizza delivery company reported second quarter revenues rose 14.5% to $362.4 million from $316.6 million a year ago. Net income in the quarter rose 56% to $22.6 million or 37 cents per diluted share compared to net income of $14.5 million or 25 cents per share a year ago.

E. I. du Pont de Nemours and Company ((DD)) advanced 4.5% or $1.79 to $40.78 after the chemical maker reported second quarter revenues rose 26% to $8.26 billion from $6.86 billion a year ago. Net income in the quarter rose 178% to $1.16 billion or $1.26 per diluted share compared to net income of $417 million or 46 cents per share a year ago.

Energizer Holdings, Inc. ((ENR)) rose 2.7% or $1.50 to $56.75 after the battery and household-products maker reported third quarter revenues rose 8% to $1.08 billion from $997.5 million a year ago. Net income in the quarter rose 43% to $104.0 million or $1.47 per diluted share compared to net income of $72.7 million or $1.13 per share a year ago.

F.N.B. Corporation ((FNB)) advanced 5.0% or 41 cents to $8.50 after the bank said second quarter net interest income rose 9% to $73.1 million from $66.9 million a year ago. Net income in the quarter rose 97% to $17.9 million or 16 cents per diluted share compared to net income of $9.1 million or 10 cents per share a year ago.

Fluor Corporation ((FLR)) rose 1.3% or 65 cents to $48.50 after the engineering and construction firm said second quarter revenues fell 2.7% to $5.15 billion from $5.29 billion a year ago. Net income in the quarter fell 7% to $157.4 million or 87 cents per diluted share compared to net income of $169.3 million or 93 cents per share a year ago.

Hexcel Corporation ((HXL)) rose 1.5% or 29 cents to $18.74 after the advanced composites company said second quarter revenues rose 10% to $305.1 million from $277.3 million a year ago. Net income in the quarter rose 37.5% to $23.1 million or 23 cents per diluted share compared to net income of $16.8 million or 17 cents per share a year ago.

Insituform Technologies, Inc. ((INSU)) climbed 3.5% or 84 cents to $24.53 after the provider of technologies and services for rehabilitating sewer said second quarter revenues rose 26% to $230.2 million from $183.2 million a year ago. Net income in the quarter rose 141% to $15.8 million or 40 cents per diluted share compared to net income of $6.5 million or 17 cents per share a year ago.

L-3 Communications Holdings, Inc. ((LLL)) fell 0.8% or 65 cents to $76.00 after the defense contractor reported second quarter revenues rose 1% to $3.97 billion from $3.93 billion a year ago. Net income in the quarter rose 2% to $227 million or $1.95 per diluted share compared to net income of $223 million or $1.90 per share a year ago.

Legg Mason, Inc. ((LM)) declined 5.1% or $1.55 to $28.53 after the securities firm said first quarter revenues rose 10% to $674.2 million from $613.1 million a year ago. Net income in the quarter fell 4% to $47.9 million or 30 cents per diluted share compared to net income of $50.1 million or 35 cents per share a year ago.

Luxottica Group S.p.A. ((LUX)) rose 2.3% or 62 cents to $26.69 after the luxury eyewear company said second quarter revenues rose 14% to €1.6 billion from €1.4 billion a year ago. Net income in the quarter rose 30% to €150.1 million or €0.33 per ADS compared to net income of €115.3 million or €0.25 per ADS a year ago.

Level 3 Communications, Inc. (LVLT)) fell 4.1% or 5 cents to $1.15 after the telecommunications services provider reported second quarter revenues fell 4% to $908 million from $942 million a year ago. Net loss in the quarter was $169 million or 10 cents per diluted share compared to net loss of $134 million or 8 cents per share a year ago.

Office Depot, Inc. ((ODP)) increased 5.7% or 27 cents to $5.00 after the global supplier of office products and services reported second quarter revenues fell 4% to $2.7 billion from $2.8 billion a year ago. Net loss in the quarter was $18.7 million or 7 cents per diluted share compared to net loss of $82.6 million or 31 cents per share a year ago.

Owens & Minor, Inc. ((OMI)) decreased 4.6% or $1.31 to $26.84 after the distributor of medical and surgical supplies said second quarter revenues rose 0.5% to $2.02 billion from $2.01 billion a year ago. Net income in the quarter rose 25% to $150.1 million or 46 cents per diluted share compared to net income of $23.6 million or 38 cents per share a year ago.

Paccar Inc. ((PCAR)) fell 0.5% or 25 cents to $46.72 after the provider of innovative full-service commercial vehicle solutions reported second quarter revenues rose 39% to $2.22 billion from $1.6 billion a year ago. Net income in the quarter rose 276% to $99.6 million or 27 cents per diluted share compared to net income of $26.5 million or 7 cents per share a year ago.

Plum Creek Timber Company, Inc. ((PCL)) fell 0.1% or 4 cents to $38.56 after the private timberland owner said second quarter revenues fell 5.1% to $258 million from $272 million a year ago. Net income in the quarter rose 9% to $35 million or 21 cents per diluted share compared to net income of $32 million or 19 cents per share a year ago.

Rambus Inc. ((RMBS)) gained 8.4% or $1.66 to $21.25 after the memory maker reported better than expected second quarter profit.

Reinsurance Group of America, Inc. ((RGA)) rose 1.7% or 87 cents to $49.94 after the insurance company said second quarter net premiums rose 14.5% to $1.58 billion from $1.38 billion a year ago. Net income in the quarter fell 17% to $127.0 million or $1.70 per diluted share compared to net income of $153.2 million or $2.10 per share a year ago.

Rent-A-Center, Inc. ((RCII)) increased 2.3% or 54 cents to $23.29 after the rent-to-own operator said second quarter revenues fell 1% to $671.5 million from $679.6 million a year ago. Net income in the quarter rose 14% to $47.8 million or 72 cents per diluted share compared to net income of $41.9 million or 63 cents per share a year ago.

Rogers Communications Inc. ((RCI)) dropped 2.5% or 98 cents to $35.44 after the diversified communications and media company reported second quarter revenues rose 4.5% to $3.03 billion from $2.9 billion a year ago. Net income in the quarter rose 21% to $451 million or 78 cents per diluted share compared to net income of $374 million or 59 cents per share a year ago.

Sanmina-SCI Corporation ((SANM)) decreased 6.1% or 97 cents to $14.89 after the maker of computers and phones swung to a fiscal third quarter profit on double-digit sales growth and improved margins.

SAP AG ((SAP)) dropped 2.6% or $1.31 to $47.31 after the software firm said second quarter revenues rose 12% to €2.89 billion from €2.58 billion a year ago. Net profit for the quarter rose 15.5% to €491 million or €0.41 per diluted share compared to net profit of €425 million or €0.36 per share a year ago.

Tellabs, Inc. ((TLAB)) dropped 1.1% or 9 cents to $7.70 after the global communications service provider reported second quarter revenues rose 10% to $422.7 million from $385.4 million a year ago. Net income in the quarter rose 308% to $64.1 million or 16 cents per diluted share compared to net income of $15.7 million or 4 cents per share a year ago.

UBS AG ((UBS)) added 7.3% or $1.12 to $16.27 after the bank said second quarter net interest income fell 4.4% to Sfr1.09 billion from Sfr1.14 billion a year ago. Net profit for the quarter was Sfr2.01 billion or Sfr0.52 per diluted share compared to net loss of Sfr1.40 billion or Sfr0.39 per share a year ago.

Ultra Clean Holdings, Inc. ((UCTT)) climbed 8.9% or 85 cents to $10.30 after the supplier of equipment to semiconductor makers said it expects third quarter earnings of 29 cents to 33 cents per share on revenue of $118.0 million to $123.0 million.

Universal Health Services, Inc. ((UHS)) dropped 0.3% or 11 cents to $36.20 after the hospital company said second quarter revenues rose 3% to $1.34 billion from $1.30 billion a year ago. Net income in the quarter fell 19% to $65.6 million or 67 cents per diluted share compared to net income of $80.9 million or 82 cents per share a year ago.

United States Steel Corporation ((X)) declined 5.1% or $2.56 to $46.30 after the integrated steel producer reported second quarter revenues rose 120% to $4.68 billion from $2.13 billion a year ago. Net loss in the quarter was $25 million or 17 cents per diluted share compared to net loss of $392 million or $2.92 per share a year ago.

Valero Energy Corporation ((VLO)) rose 1.0% or 19 cents to $17.75 after the independent oil refiner reported second quarter revenues rose 25% to $21.8 billion from $17.4 billion a year ago. Net income in the quarter was $583 million or $1.03 per diluted share compared to net loss of $254 million or 48 cents per share a year ago.

Veeco Instruments Inc. ((VECO)) increased 4.6% or $2.06 to $46.75 after the maker of gear for chipmakers and data storage said it expects third quarter earnings of $1.23 to $1.43 per share on revenue of $290.0 million to $315.0 million.

W. R. Berkley Corporation ((WRB)) rose 1.5% or 41 cents to $27.14 after the insurance company said second quarter revenues fell 25% to $1.16 billion from $1.55 billion a year ago. Net income in the quarter rose 13% to $110.2 million or 70 cents per diluted share compared to net income of $97.4 million or 59 cents per share a year ago.

Wausau Paper Corp. ((WPP)) decreased 0.5% or 5 cents to $7.92 after the paper products industry said second quarter revenues rose 1% to $265.6 million from $262.2 million a year ago. Net income in the quarter was $5.6 million or 11 cents per diluted share compared to net loss of $1.92 million or 4 cents per share a year ago.

Wal-Mart Stores, Inc. ((WMT)) dropped 0.2% or 13 cents to $51.00 after the retailer was downgraded to “hold” from “buy” at Stifel Nicolaus & Co. Inc.

The Western Union Company ((WU)) rose 0.9% or 21 cents to $16.89 after the global payment services company reported second quarter revenues rose 2% to $1.27 billion from $1.25 billion a year ago. Net income in the quarter rose 0.4% to $221.0 million or 33 cents per diluted share compared to net loss of $220.2 million or 31 cents per share a year ago.

Zoran Corporation ((ZRAN)) dropped 8.7% or 85 cents to $8.92 after the maker of software and chips for digital audio and video products said it expects a third quarter non-GAAP loss of 6 cents to 3 cents per share on revenue of $98.0 million to $103.0 million.