U.S. Movers: Aeroflex , A123 Systems, CVR Energy, Fossil, Universal Display

Mukesh Buch
10 May, 2011
New York City

Aeroflex third quarter net income rose to $4.13 million. CVR Energy first quarter net income grew to $45.8 million. Fossil first quarter net income soared 55.5% to $55.8 million. Triumph fourth quarter net income rose to $52.3 million. Universal Display first quarter net loss widened to $11.9 mn.

[R]10:30 AM New York – Aeroflex third quarter net income rose to $4.13 million. CVR Energy first quarter net income grew to $45.8 million. Fossil first quarter net income soared 55.5% to $55.8 million. Triumph Group fourth quarter net income soared to $52.3 million. Universal Display first quarter net loss widened to $11.88 million.[/R]

Of 30 the stocks in the Dow, 27 increased and 3 decreased.

Of the stocks in the Dow Jones Industrial Average, General Electric Company led the gainers with a rise of 1.74% followed by increase in Intel Corporation of 1.45%, in The Walt Disney Company of 1.35%, in Bank of America Corporation of 1.03%, in Hewlett-Packard Company of 0.96%.

Microsoft Corporation led the decliners with a fall of 0.62%, followed by decline in Johnson & Johnson of 0.38%, in American Express Company of 0.04%.

Other Movers

Aeroflex Holding Corp. ((ARX)) fell 0.7% or 15 cents to $18.85 after the integrated circuits, components and systems maker reported third quarter revenues surged 14.7% to $193.2 million compared to $168.4 million in the same period last year. Net income in the quarter rose to $4.13 million or 5 cents per diluted share compared to $2.86 million or 4 cents per share a year ago.

A123 Systems, Inc. ((AONE)) decreased 1.1% or 7 cents to $5.82 after the batteries and battery system maker reported first quarter revenues declined to $18.0 million compared to $24.4 million in the same period last year. Net loss in the quarter widened to $53.6 million or 51 cents per diluted share compared to $29.0 million or 28 cents per share a year ago.

Activision Blizzard, Inc. ((ATVI)) slipped 1.5% or 18 cents to $11.35 after the personal computer and mobile game publisher reported third quarter revenues surged 11% to $1.4 billion compared to $1.3 billion in the same period last year. Net income in the quarter rose to $503 million or 42 cents per diluted share compared to $381 million or 30 cents per share a year ago.

CKX, Inc. ((CKXE)) soared 22.5% or $1 to $5.45 after the entertainment company said first quarter revenues declined 20% to $53.3 million compared to $66.6 million in the same period last year. Net income in the quarter rose to $7.2 million or 8 cents per diluted share compared to net loss of $5.0 million or 5 cents per share a year ago.

The company also agreed to be acquired by a private equity firm Apollo Global Management for $510 million.

CVR Energy, Inc. ((CVI)) gained 3.6% or 75 cents to $21.60 after the petroleum refinery reported first quarter revenues soared to $1,167.3 million compared to $894.5 million in the same period last year. Net income in the quarter grew to $45.8 million or 52 cents per diluted share compared to net loss of $12.4 million or 14 cents per share a year ago.

Fossil, Inc. ((FOSL)) surged 13.1% or $12.32 to $106.32 after the fashion accessory company reported first quarter revenues soared 36.6% to $537 million compared to $393.2 million in the same period last year. Net income in the quarter grew 55.5% to $55.8 million or 86 cents per diluted share compared to $35.9 million or 53 cents per share a year ago.

Fonar Corporation ((FONR)) surged 38.5% or 84 cents to $3.02 after the healthcare company said third quarter revenues soared 15% to $8.7 million compared to $7.5 million in the same period last year. Net income in the quarter rose to $1.1 million or 20 cents per diluted share compared to net loss of $0.8 million or break even per share a year ago.

Loral Space & Communications Inc ((LORL)) rose 0.3% or 25 cents to $69.82 after the satellite communications company reported first quarter revenues increased to $279.9 million compared to $228.9 million in the same period last year. Net income in the quarter grew to $67.8 million or $2.10 per diluted share compared to $29.4 million or $0.97 per share a year ago.

Microsoft Corporation ((MSFT)) slumped 1.2% or 33 cents to $25.50 after the company agreed to acquire Skype for $8.5 billion in cash from the investor group led by Silver Lake.

Nelnet, Inc. ((NNI)) gained 2.1% or 47 cents to $22.90 after the finance company component reported first quarter total interest income rose to $138.0 million compared to $136.0 million in the same period last year. Net income in the quarter rose to $54.9 million or $1.13 per diluted share compared to $54.3 million or $1.08 per share a year ago.

Sun Hydraulics Corporation ((SNHY)) soared 9.4% or $4.46 to $51.60 after the fabricated material maker said first quarter net sales surged 60% to $50.7 million compared to $31.6 million in the same period last year. Net income in the quarter soared 197% to $9.8 million or 57 cents per diluted share compared to $3.3 million or 20 cents per share a year ago.

Triumph Group, Inc. ((TGI)) surged 11.8% or $10.52 to $99.07 after the aircraft component reported fourth quarter revenues increased 161% to $919.1 million compared to $352.0 million in the same period last year. Net income in the quarter soared to $52.3 million or $2.04 per diluted share compared to $24.7 million or $1.47 per share a year ago.

Universal Display Corporation ((PANL)) tumbled 20.1% or $11.42 to $45.43 after the flat panel display maker reported first quarter revenues surged to $9.6 million compared to $4.2 million in the same period last year. Net loss in the quarter widened to $11.88 million or 31 cents per diluted share compared to $2.98 million or 8 cents per share a year ago.