Las Vegas Sands Plunges, Whole Foods Gains

123jump.com Staff
06 Nov, 2008
New York City

Las Vegas Sands plunged on loan default and bankruptcy filing possibilities. Whole Foods rose after earnings and capital injection from a private equity fund. Toyota Motor dropped after it lowered earnings outlook. Cisco offered weak sales outlook. Cott Corp dropped 17% on a net loss.

[R]1:40 PM, New York – Las Vegas Sands plunged on loan default and bankruptcy filing possibilities. Whole Foods rose after earnings and capital injection from a private equity fund. Toyota Motor dropped after it lowered earnings outlook.[/R]

Churchill Downs Inc ((CHDN)) fell 7.4% or $2.90 to $36.07 after the owner and operator of pari-mutuel wagering properties and businesses said third quarter revenues fell 4% to $99.6 million from $103.9 million a year ago. Net income in the quarter rose 212.5% to $2.5 million or 18 cents per diluted share compared to net income of $0.8 million or 6 cents per share, a year ago.

Cisco Systems, Inc ((CSCO)) lost 5.1% or 94 cents to $17.39 after the world''s largest maker of computer networking gear said first quarter sales rose 8% to $10.3 billion from $9.6 billion a year ago. Net income in the quarter fell 0.2% to $2.2 billion or 37 cents per diluted share compared to net income of $2.2 billion or 35 cents per share, a year ago.

Cogent, Inc ((COGT)) slid 4.4% or 41 cents to $8.91 after the global biometric identification solutions provider said third quarter revenues rose 56% to $35 million from $22.5 million a year ago. Net income in the quarter rose 197% to $12 million or 13 cents per diluted share compared to net income of $4.1 million or 4 cents per share, a year ago.

Cott Corporation ((COT)) fell 16.9% or 22 cents to $1.08 after the world''s largest retailer brand soft drink provider reported third quarter revenues fell 9.5% to $420.5 million from $464.5 million a year ago. Net loss in the quarter was $87.6 million or $1.25 per diluted share compared to net loss of $5.8 million or 8 cents per share, a year ago.

Drugstore.com, Inc ((DSCM)) fell 15.1% or 28 cents to $1.57 after the online provider of health, beauty, vision, and pharmacy products said third quarter sales rose 8.5% to $87.8 million from $80.9 million a year ago. Net loss in the quarter was $3.6 million or 4 cents per diluted share compared to net loss of $2.4 million or 2 cents per share, a year ago.

Dolan Media Company ((DM)) dropped 32.6% or $1.36 to $2.81 after the provider of business information and professional services to the legal, financial and real estate sectors in the United States reported third quarter revenues rose 24.9% to $47.9 million from $38.3 million a year ago. Net income in the quarter was $2.45 million or 9 cents per diluted share compared to net loss of $7.52 million or 38 cents per share, a year ago.

Eagle Bulk Shipping Inc ((EGLE)) decreased 8.5% or 94 cents to $10.04 after the bulk ocean carrier said third quarter revenues rose 52% to $51.6 million from $33.9 million a year ago. Net income in the quarter rose 50% to $23.2 million or 49 cents per diluted share compared to net income of $15.5 million or 37 cents per share, a year ago.

Kinross Gold Corporation ((KGC)) dropped 6.6% or 85 cents to $12.00 after the gold miner said third quarter revenues rose 83% to $503.7 million from $275.8 million a year ago. Net income in the quarter rose 64% to $64.7 million or 10 cents per diluted share compared to net income of $39.4 million or 7 cents per share, a year ago.

Las Vegas Sands Corp ((LVS)) dropped $3.48 or 30% to $8.20 after it said that it may be in loan covenant violation if it fails to raise capital and may threaten its ability to continue as a “going concern.” The company is in the midst of building first ever casino in Singapore and expand its casinos in Macau, China.

McDermott International, Inc ((MDR)) slid 9.9% or $1.72 to $15.56 after the energy infrastructure construction company said third quarter revenues rose 26% to $1.66 billion from $1.32 billion a year ago. Net income in the quarter fell 39% to $85.6 million or 37 cents per diluted share compared to net income of $140.4 million or 61 cents per share, a year ago.

Ternium S.A ((TX)) decreased 10.0% or 94 cents to $8.40 after the steel company in the Americas said third quarter revenues rose 62% to $2.4 billion from $1.5 billion a year ago. Net income in the quarter rose 15% to $247.1 million or $1.06 per ADS share compared to net income of $214 million or 80 cents per ADS share, a year ago.

Toyota Motor Corporation ((TM)) plunged 18% or $14.17 to $66.06 after it reported weak earnings offered weaker annual earnings outlook for the fiscal 2009.

Vulcan Materials Company ((VMC)) lost 4.5% or $2.71 to $56.30 after the manufacturer of construction aggregates and other construction materials said third quarter revenues rose 12% to $1.01 billion from $904.9 million a year ago. Net income in the quarter fell 56% to $59.05 million or 53 cents per share compared to net income of $135.4 million or $1.38 per share, a year ago.

Whole Foods Market Inc ((WFMI)) rose 59 cents to $10.91 after it reported earnings. The company sold preferred stocks for 17% of the company to Leonard Green & Partners LP in exchange of $425 million. Same store sales growth in the fourth quarter declined to 0.4% from 8.2%.

ZipRealty, Inc ((ZIPR)) fell 5.4% or 15 cents to $2.60 after the full-service residential real estate brokerage firm said third quarter revenues rose 11.9% to $31.4 million from $28.0 million a year ago. Net loss in the quarter was $1.7 million or 8 cents per share compared to net loss of $4.8 million or 21 cents per share, a year ago.