U.S. Movers: Bucyrus, Isilon, EMC, Lowe

Mukesh Buch
15 Nov, 2010
New York City

Amtech Systems fourth quarter net revenue surged three-fold. Diana Shipping third quarter revenue increased to $71.61 million. Lowe

[R]12:30 PM New York – Amtech Systems fourth quarter net revenue surged three-fold. Diana Shipping third quarter revenue increased to $71.61 million. Lowe’s third quarter net sales increased 1.9% to $11.6 billion. Westwood One third quarter net revenue rose 12.1% to $88.0 million. Bucyrus International, Inc. soared 29% after it agreed to merge with Caterpillar.[/R]

Of the stocks in the Dow, 22 increased, 8 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Caterpillar Inc. led the gainers with a rise of 2.30% followed by increase in JPMorgan Chase & Co. of 1.82%, in Hewlett-Packard Company of 1.45%, in The Home Depot, Inc. of 1.19%, in AT&T Inc. of 0.98%.

The Walt Disney Company led the decliners with a fall of 1.17%, followed by decline in Intel Corporation of 0.63%, in Cisco Systems, Inc. of 0.50%, in Exxon Mobil Corporation of 0.38%, in Wal-Mart Stores, Inc. of 0.25%.

Other Movers

Amtech Systems, Inc. ((ASYS)) soared 9% or $1.57 to $18.85 after the horizontal diffusion furnace system supplier report fourth quarter net revenue surged 288% to $45.4 million from $11.67 million a year ago period. Net income in the quarter increased to $5.4 million or 58 cent per diluted share compared net loss of $0.2 million or 2 cent per share same quarter a year ago.

For the fiscal year net revenue increased to $120.02 million compared to $52.97 million for the same period a year ago. Net income $9.56 million or $1.04 per diluted share compared to net loss of $1.59 million or $0.18 per diluted share same period a year ago.

BioSante Pharmaceuticals, Inc. ((BPAX)) fell 0.6% or 1 cent to $1.52 after the pharmaceutical company said third quarter revenues soared to $51.33 million from $10.49 million a year ago period. Net loss in the quarter was $11.59 million or 16 cent per diluted share compared to $6.37 million or 21 cent per share same quarter a year ago.

Bucyrus International, Inc. ((BUCY)) surged 28.8% or $20.06 to $89.68 after the mining equipment maker entered into an agreement in which Caterpillar will acquire Bucyrus International in a transaction valued at approximately $8.6 billion including net debt.

Under the terms which has been approved by the boards of directors of both companies, Bucyrus shareholders will receive $92 per share, $7.6 billion in aggregate consisting of all cash.

J.P. Morgan Securities LLC served as exclusive financial advisor for Caterpillar and Deutsche Bank Securities Inc. and UBS Investment Bank served as financial advisors for Bucyrus.

Diana Shipping Inc. ((DSX)) fell 0.1% or 2 cent to $13.58 after the shipping transportation service provider reported third quarter revenue increased to $71.61 million, from $58.22 million a year ago period. Net income in the quarter increased to $33.8 million or 42 cent per diluted share, compared to $28.66 million or 36 cent per share a year ago period.

EMC Corporation ((EMC)) slipped 0.4% or 9 cent to $21.63 after the information technology company today announced to acquire Isilon Systems, Inc. Under terms, EMC will pay $33.85 per share in cash in exchange for each share of Isilon for an aggregate purchase price of approximately $2.25 billion.

The boards of directors of both EMC and Isilon have unanimously approved the terms of the agreement. For 2010, EMC expects consolidated revenues of $16.9 billion and $0.91 in consolidated GAAP diluted earnings per share.

Lowe’s Companies, Inc. ((LOW)) gained 1.4% or 32 cent to $22.01 after the home improvement retailer report third quarter net sales increased 1.9% to $11.6 billion from $11.4 billion a year ago period. Net earnings in the quarter increased 17.4% to $404 million or 29 cent per diluted share compared to $344 million or 23 cent per share same quarter a year ago.

SORL Auto Parts, Inc., ((SORL)) fell 0.9% or 9 cent to $9.49 after the automotive air brake system maker said third quarter revenues soared 40.8% to $50.08 million from $38.72 million a year ago period. Net income in the quarter increased 27.8% to $6.61 million or 26 cent per diluted share compared to $4.23 million or 23 cent per share same quarter a year ago.

Westwood One, Inc. ((WWON)) increased 4.1% or 44 cent to $10.97 after the producer and provider of programming content reported third quarter net revenue rose 12.1% to $88.0 million from $78.5 million for the same quarter a year ago period. Net loss in the quarter decreased to $7.24 million or $0.35 per diluted share compared to $131.69 million or $10.03 per share a year ago period.