A123 Systems Pluges; CareFusion Rises

123jump.com Staff
11 Aug, 2010
New York City

Stocks in New York trading dropped sharply after the Dow and S&P 500 index declined more than 2%. A123 Systems plunged 10% after it reported higher than expected loss. Walt Disney sales rose 16% and quarterly net surged 40%. Macy

[R]11:30 AM New York – Stocks in New York trading dropped sharply after the Dow and S&P 500 index declined more than 2%. A123 Systems plunged 10% after it reported higher than expected loss. Walt Disney sales rose 16% and quarterly net surged 40%. Macy’s quarterly sales increased 7%.[/R]

A123 Systems Inc ((AONE)) plunged 10% or $1.05 to $9.38 after the rechargeable lithium-ion batteries and battery systems said second quarter net revenue increased $22.6 million from $19.7 million the previous year. Net loss in the quarter was $34.2 million or 33 cents per compared to $21.9 million or $2.36 per share in the same quarter last year.

Alpha & Omega Semiconductor Ltd. ((AOSL)) plunged 22.2% or $2.93 to $10.20 after the power semiconductors developer reported fourth quarter revenues edged higher 45.2% to $85.5 million compared with $58.9 million in the prior-year quarter. Net profit in the quarter was $8.9 million or 37 cents per diluted share compared to net profit of $3.8 million or 19 cents per share in the year-ago quarter.

For the fiscal year ended June 30, 2010 revenue increased 63.1% to $301.8 million compared to $185.1 million for fiscal year 2009. Net profit was 37.5 million or $1.78 per diluted share compared with net loss $0.5 million or $0.07 per share for the fiscal year 2009.

Ameristar Casinos Inc. ((ASCA)) surged 13.1% or $1.91 to $16.41 after the casino operator reported second-quarter revenues fell 5.1% to $293.0 million, compared to $308.9 million in the prior-year quarter. Net loss in the quarter decreased $24.89 million or 43 cents per diluted share compared to net income of $14.28 million or 25 cents per share in the same quarter last year.

CareFusion Corp. ((CFN)) soared 9.8% or $2.07 to $23.45 after a medical technology company stated fourth quarter revenues edged higher 19.9% to $1.04 billion from $867 million in the prior-year quarter. Net income in the quarter slumped 45.8% to $52 million or 23 cents per diluted share, compared to net income of $96 million or 44 cents per share in the year-ago quarter.

Cree, Inc. ((CREE)) plunged 11.5% or $8.13 to $60.83 after the LED lighting solution provider reported fourth quarter revenue soared 79% to $264.6 million compared to $148.1 million a year ago quarter. Net income in the quarter surged 445% to $52.8 million, or 48 cents per diluted share, compared to net income of $9.7 million, or 11 cents per diluted share, for the fourth quarter of fiscal 2009.

Computer Sciences Corporation ((CSC)) fell 3.7% or $1.75 to $44.63 after the IT and business process outsourcing service provider said first-quarter revenues rose 1.1% to $3.942 billion, compared to $3.898 billion in the prior-year quarter. Net income in the quarter advanced 9.2% to $143 million or 91 cents per diluted share compared to net income of $131 million or 85 cents per share in the same quarter last year.

LDK Solar Co. Ltd. ((LDK)) fell 0.2% or 2 cent to $7.45 after a maker of multicrystalline solar wafers reported second quarter net sales surged 147.6% to $565.3 million from $228.3 million the previous year. Net income generated in the quarter was $45.0 million or 36 cents per American Depositary Share compared with a net loss of $216.9 million or $2.03 per ADS in the same quarter last year.

Macy''s, Inc. ((M)) gained 4.4% or 87 cent to $20.25 after the department store holding company reported second-quarter sales rose 7.2% to $5.537 billion from $5.164 billion in the second quarter of 2009. On a same-store basis, the company’s sales rose 4.9%. Net earnings in the quarter surged 2,000% to $147 million or 35 cents per diluted share, from $7 million or 2 cents per share in the same quarter last year.

The Walt Disney Company ((DIS)) dropped 1.8% or 64 cent to $34.66 after the diversified media and entertainment conglomerate said third quarter revenue increased 16% to $10 billion from $8.60 billion in the same quarter last year. Net income in the quarter rose 40% to $1.331 billion or 67 cents per diluted share, compared to net income of $954 million or 51 cents per share for the year-ago quarter.