Synnex, CRA Rise; Xyratex Falls

Bikram Pandey
30 Sep, 2010
New York City

Synnex Corporation soared 8% after quarterly net rose 44%. Worthington Industries, Inc fiscal first quarter sales increased 48%. Xyratex Ltd. fell 12% after sales and earnings increased less than expected. CRA International gained 4% after earnings declined 21%, less than expected.

[R]11:30 AM New York - Synnex Corporation soared 8% after quarterly net rose 44%. Worthington Industries, Inc after fiscal first quarter sales increased 48%. Xyratex Ltd. fell 12% after sales and earnings increased less than expected. CRA International gained 4% after earnings declined 21%, less than expected.[/R]

Of the stocks in the Dow, 27 increased, 3 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, The Boeing Company led the gainers with a rise of 1.83% followed by increase in Cisco Systems, Inc. of 1.69%, in Bank of America Corporation of 1.60%, in Intel Corporation of 1.56%, E. I. du Pont de Nemours and Company of 1.55%.

Caterpillar Inc. led the decliners with a fall of 0.33% followed by decline in Pfizer Inc. of 0.17%, in McDonald’s Corporation of 0.01%.

Other Movers

CRA International, Inc. ((CRAI)) soared 4% or 70 cent to $18.04 after the global consulting firm said third quarter revenue fell 5.3% to $84.6 million compared with $89.3 million for the third quarter of fiscal 2009. Net income in the quarter declined 21% to $2.07 million or 19 cents per diluted share, compared with net income of $2.62 million or 24 cents per share last year.

GenCorp Inc. ((GY)) rose 1% or 5 cent to $4.87 after the aerospace and defense systems maker said third quarter sales surged 4.6% to $210.7 million from $201.4 million last year. Net income for the period was $2.8 million or 5 cents per diluted share compared to a net income of $10.3 million or 17 cents per share a year ago.

McCormick & Company, Incorporated ((MKC)) increased 2.6% or $1.09 to $42.19 after the manufacturer and distributor of spices, seasonings and other flavorings stated third quarter net sales grew 0.4% to $794.6 million, from $791.7 million in the prior-year quarter. Net income in the quarter gained 36.4% to $102.4 million or 76 cents per diluted share, compared with net income of $75.1 million or 57 cents per share a year ago.

MSCI Inc. ((MSCI)) plunged 3.6% or $1.24 to $33.24 after the provider of investment decision support tools reported third quarter revenue surged 86.2% to $202.7 million from $108.9 million last year. Net income for the period was $10.32 million or 8 cents per diluted share compared to a net income of $20.92 million or 20 cents per share a year ago.

Omnova Solutions Inc. ((OMN)) declined 5.8% or 45 cent to $7.25 after the provider of emulsion polymers said third quarter sales increased 22.5% to $227.9 million from $186.1 million in the prior-year quarter. Net income in the quarter plunged 65.3% to $3.5 million or 8 cents per diluted share compared to net income of $10.1 million or 23 cents per share in the prior-year quarter.

Satyam Computer Services Limited ((SAY)) decreased 2.7% or 11 cent to $3.97 after the now Mahindra Satyam, a global business and information technology services company reported fiscal year 2010 total revenue, including ''other operating income'', declined 38% to Rs.5,481 crore from the Rs.8,812.60 crore last year. Consolidated net loss, after adjusting for exceptional items, narrowed 98% to Rs.124.60 crore or Rs.1.14 per share, compared with a net loss of Rs.8,176.80 crore or Rs.121.49 per share in 2009.

Senesco Technologies, Inc. ((SNT)) rose 0.7% or 002 cent to 30 cent the development-stage biotechnology company stated fiscal year 2010 revenue slumped 48% to $0.14 million from $0.27 million last year. Net loss for the period widened 134% to $13.38 million or 67 cents per diluted share compared to a net loss of $5.72 million or 30 cents per share a year ago.

Synnex Corporation ((SNX)) surged 8.3% or $2.17 to $28.07 after the business process services company reported third quarter revenue increased 9.0% to $2.18 billion, compared to $2.0 billion for the comparable quarter last year. Net income in the quarter climbed 44% to $30.9 million or 86 cents per diluted share, compared with net income of $21.5 million or 62 cents per share in the prior-year quarter.

Worthington Industries, Inc. ((WOR)) fell 1.6% or 26 cent to $15.26 after the steel maker said first quarter net sales increased 48% to $616.8 million from $417.5 million in the prior-year quarter. Net income in the quarter gained 248% to $23.3 million or 30 cents per diluted share, compared to net income of $6.7 million or 8 cents per share in the year-ago quarter.

Xyratex Ltd. ((XRTX)) slipped 12.4% or $2.20 to $15.15 after the enterprise-class data storage solutions provider reported third quarter revenues surged 74.7% to $430.24 million from $246.29 million a year ago. Net income in the quarter soared 377% to $37.23 million or $1.19 per share from $7.81 million or $0.26 per share in the previous year.