Autodesk, Nvidia Rise; Nordstrom Falls

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

Stocks edged lower in New York trading and nearly half the stocks in the Dow and the S&P 500 index declined. Nordstrom, Inc plunged 5% after it reported lower than expected earnings. Nvidia Corp gained 4% after quarterly loss widened.

[R]11:30 AM New York – Stocks edged lower in New York trading and nearly half the stocks in the Dow and the S&P 500 index declined. Nordstrom, Inc plunged 5% after it reported lower than expected earnings. Nvidia Corp gained 4% after quarterly loss widened.[/R]

Stocks in New York trading edged lower as economic worries remained a top concern among investors. Of the Dow Jones Industrial Average 30 stocks, 13 increased and 17 declined.

Walt Disney led the decliners with a loss of 1.4% followed by losses in Du Pont of 0.9%, in Verizon Communications Inc of 0.9% and Johnson & Johnson of 0.6%.

Bank of America led the gainers in the Dow with a rise of 1.6% followed by Hewlett Packard with 1.5%, Boeing Co. with 1.1% and Travelers Cos with 0.6%.

Other Movers

Autodesk, Inc. ((ADSK)) gained 6.9% or $1.97 to $29.42 after the design software maker reported second quarter revenue increased 14% to $472.8 million from $414.9 million in the same quarter last year. Net income in the quarter surged 470% to $59.9 million or 25 cents per diluted share, compared to $10.5 million or 5 cents per share for the year-ago quarter.

Allis-Chalmers Energy Inc. ((ALY)) soared 54.7% or $1.26 to $3.56 after the provider of service & equipment to oil and natural gas exploration company reported second quarter net revenue rose $15.86 million from $11.25 million during the same period in fiscal 2009. Net loss in the quarter $0.60 million or 8 cents per diluted share compared to net income of $0.01 million or 0.00 cents per share in the year-ago quarter.

DeVry Inc. ((DV)) fell 0.8% or 37 cent to $44.94 after the education service provider stated fourth quarter revenues grew 28% to $506.67 million from $396.24 million in the prior-year quarter. Net income advanced 93% to $71.90 million or 99 cents per diluted share from $37.07 million or 51 cents per share in the same quarter a year ago.

Nordstrom, Inc. ((JWN)) plunged 5.1% or $1.72 to $31.72 after the fashion specialty retailer said second quarter net sales rose 12.7% to $2.42 billion from $2.14 billion during the same period in fiscal 2009. Net income in the quarter soared 38.6% to $146 million or 66 cents per diluted share, compared to $105 million or 48 cents per share in the year-ago quarter.

Nvidia Corporation ((NVDA)) soared 4% or 36 cent to $9.32 after the graphics chipmaker reported second quarter revenue increased 4.5% to $811.2 million from $776.5 million in the same quarter last year. Net loss in the quarter widened 34% to $141.0 million or 25 cents per diluted share, compared to a net loss of $105.3 million or 19 cents per share in the prior-year quarter.

J. C. Penney Company, Inc. ((JCP)) fell 1.7% or 36 cent to $20.44 after the department stores operator stated second-quarter total net sales declined 0.1% to $3.938 billion, compared to $3.943 billion in the prior-year quarter. Net income generated in the quarter was $14 million or 6 cents per diluted share, compared to a loss of $1 million or break-even per share in last year''s second quarter.

Spreadtrum Communications, Inc ((SPRD)) gained 5.7% or 57 cent to $10.43 after the fabless semiconductor company reported second quarter revenue increased 341% to $71.4 million from $16.2 million in the same quarter last year. Net income in the quarter decreased 185% to $11.2 million or 21 cents per diluted share, compared to loss of $13.9 million or 29 cents per share for the year-ago quarter.

Bally Technologies, Inc. ((BYI)) gained 5.1% or $1.60 to $32.78 after the designs, manufacture gaming devices company reported fourth quarter total revenues decreased to $195 million compared with $196 million from year ago. Net income in the quarter soared $51.04 million or 89 cents per diluted share, compared to $33.19 million or 58 cents per share in the year-ago quarter.

Net revenue for fiscal 2010 declined to $778.19 million compared to $843.76 million. Net income in the fiscal year ended rose $137.48 million or $2.38 cents per diluted share, compared to $126.31 million or $2.22 per share in the year-ago quarter.

The Geo Group, Inc. ((GEO)) fell 1.1% or 23 cent to $22.48 after the provider of government outsourced services company reported second quarter revenue increased to $280.1 million from $276.3 million in the same quarter last year. Net income in the quarter surged to $17.0 million or 35 cents per diluted share, compared to $16.5 million or 33 cents per share for the year-ago quarter.

ShoreTel, Inc. ((SHOR)) increased 4.7% or 21 cent to $4.62 after the Internet protocol provider company said fourth quarter of 2010 revenue increased 14% to $42.2 million compared with $32.4 million in the prior-year quarter. Net loss in the quarter was $3.7 million or 8 cents per diluted share, compared to a loss of $0.7 million or 2 cent per share in last year''s second quarter.

For fiscal year 2010, revenue soared 10% to $148.5 million compared to $134.8 million in fiscal year 2009. Net loss for the fiscal year was $12.8 million or $0.29 per share compared to a net loss of $12.7 million or $0.29 per share, in fiscal year 2009.