AMD, Google Rise; VF, Schlumberger Falls

123jump.com Staff
17 Oct, 2008
New York City

Advanced Micro rose after the quarterly loss declined. Google surged 9% after quarterly earnings rose 26%. Honeywell fell after earnings rose 16%. ING Groep NV plunged 29% on capital worries. Wilmington Trust rose after net income fell 50%.

[R]1:40PM New York – Google surges on 26% rise in earnings. ING Groep NV plunges 29% on capital adequacy worries.[/R]

Advanced Micro Devices, Inc ((AMD)) gained 10.9% or 45 cents to $4.57 after the global semiconductor company said third quarter revenues rose 14% to $1.78 billion from $1.56 billion a year ago. Net loss in the quarter was $67 million or 11 cents per diluted share compared to net loss of $396 million or 71 cents per share, a year ago.

Evergreen Solar, Inc ((ESLR)) fell 12.1% or 47 cents to $3.40 after the manufacturer of solar power products said third quarter revenues rose 16% to $17.8 million from $15.4 million a year ago. Net loss in the quarter was $23.8 million or 18 cents per diluted share compared to net loss of $3.7 million or 4 cents per share, a year ago.

Google Inc ((GOOG)) surged 10.4% or $36.97 to $389.99 after the most popular Internet search engine said third quarter revenues rose 31% to $5.54 billion from $4.23 billion a year ago. Net income in the quarter rose 26% to $1.35 billion or $4.24 per diluted share compared to net income of $1.07 billion or $3.38 per share, a year ago.

Harmony Gold Mining Company Limited ((HMY)) dropped 3.8% or 32 cents to $8.20 after the gold producer said production and operating costs in the fiscal first quarter through September rose. The company is scheduled to release earnings at the end of the month.

Honeywell International Inc ((HON)) dropped 3.6% or $1.13 to $29.80 after the world''s largest maker of aviation electronics third quarter revenues rose 6.2% to $9.28 million from $8.74 million a year ago. Net income in the quarter rose 16.3% to $719 million or 97 cents per diluted share compared to net income of $618 million or 81 cents per share, a year ago.

ING Groep N.V. ((ING)) slid 29.7% or $4.34 to $10.36 after investors speculated that the Dutch financial services company may need to raise more capital to bolster its balance sheet.

iGATE Corporation ((IGTE)) lost 4.60% or 28 cents to $5.84 after the provider of technology services reported third quarter revenues rose 10% to $55.4 million from $50.4 million a year ago. Net income in the quarter rose 91% to $8.29 million or 15 cents per diluted share compared to net income of $4.33 million or 8 cents per share, a year ago.

Pilgrim''s Pride Corporation ((PPC)) dropped 22.6% or 73 cents to $2.50 after the chicken producer said today that it is not considering filing bankruptcy protection and negotiating with debt and bond holders.

PMC-Sierra, Inc ((PMCS)) fell 12.5% or 71 cents to $4.87 after the communications and storage-chip maker reported third quarter earnings of $16.2 million or 7 cents a share compared to a loss of $5.9 million or 3 cents a share. Revenue in the quarter rose 17% to $139.4 million.

Schlumberger Limited ((SLB)) fell 10.1% or $5.56 to $47.64 after the world''s largest oilfield services company reported third quarter revenues rose 22% to $7.26 billion from $5.93 billion a year ago. Net income in the quarter rose 13% to $1.53 billion or $1.25 per diluted share compared to net income of $1.35 billion or $1.09 per share, a year ago.

V.F.Corporation ((VFC)) dropped 7.0% or $4.17 to $54.33 after the global leader in branded lifestyle apparel reported third quarter revenues rose 6% to $2.21 billion from $2.07 billion a year ago. Net income in the quarter rose 13% to $233.9 million or $2.10 per diluted share compared to net income of $207.2 million or $1.84 per share, a year ago.

Siemens AG ((SI)) slid 3.31% or $2.02 to $60.35 and Israel Electric Corp cancelled turbine power plant and it pulled out of joint venture with Fujitsu two months ago.

Wilmington Trust Corporation rose 3.1% or 85 cents to $28.30 after the company net income in the quarter fell 50% to $22.9 million or 34 cents per diluted share compared to net income of $46.2 million or 67 cents per share a year ago.

Net interest income in the quarter dropped 3% to $91.1 million from $94 million a year ago and net charge offs declined to $10.5 million from $11.8 million a year ago.