Eagle Bulk, SunTech Power Plunge

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

Retailers reported declining revenues and earnings. Solar panels and technologies maker report lower than expected earnings. PetSmart rose 13% and Schools Specialty dropped 9%. Prologis plunged 16%. The dental supplies company slid 16%. Lincoln National dropped 18%.

[R]12:40 PM, New York – Retailers reported declining revenues and earnings. Solar panels and technologies maker report lower than expected earnings.[/R]

Amedisys, Inc ((AMED)) fell 20.0% or $8.84 to $35.16 after he health care provider’s stock was downgraded by Deutsche Bank analyst pointing to concerns about a growing number of patients who aren''t paying their bills. Darren Lehrich lowered his stock rating to ""Hold"" from ""Buy.""

Barnes & Noble, Inc, the book retailer dropped 5.6% to $12.36 after it reported third quarter sales fell 4.3% to $1.12 billion from $1.17 billion a year ago. Net loss in the quarter was $18.4 million or 34 cents per diluted share compared to net income of $4.4 million or 7 cents per share a year ago. Comparable same store sales decreased 7.4%.

Barnes & Noble, Inc ((BKS)) in the last one year traded as high as $39.52 in November 2007 and as low as $13.09 in November 2008. Based on the yesterday''s closing price of $13.10 the company has market cap of $720.61 million.

Children’s Place Retail Stores, Inc, a specialty retailer of children’s merchandise rose 5.5% to $18.51 after it reported third quarter revenues rose 5% to $450.6 million from $430.6 million a year ago. Net income in the quarter rose 96% to $24.1 million or 81 cents per diluted share compared to net income of $12.3 million or 42 cents per share a year ago. Comparable same store sales rose 2%.

The Children’s Place Retail Stores, Inc ((PLCE)) in the last one year traded as high as $43.40 in September 2008 and as low as $14.92 in November 2008. Based on the yesterday''s closing price of $17.55 the company has market cap of $516.35 million.

Cyberonics, Inc ((CYBX)) added 8.4% or 85 cents to $10.95 after the maker of a nerve stimulating device based on our first half performance. The company raised its previously provided sales guidance to between $136 million and $140 million.

Developers Diversified Realty Corporation ((DDR)) dropped 19.6% or 92 cents to $3.77 after the developer and manager of shopping centers, declared its fourth quarter 2008 Preferred Class G stock dividend of $0.50 per depositary share.

Dick’s Sporting Goods, Inc ((DKS)) a sporting goods retailer rose 7.4% to $10.28 after it reported third quarter sales rose 10.2% to $924.2 million from $838.8 million a year ago. Net income in the quarter fell 39% to $7.4 million or 6 cents per diluted share compared to net income of $12.2 million or 10 cents per share a year ago. Comparable same store sales fell 2.8%.

Dick’s Sporting Goods, Inc ((DKS)) in the last one year traded as high as $33.86 in February 2008 and as low as $9.51 in November 2008. Based on the yesterday''s closing price of $9.56 the company has market cap of $1.07 billion.

E-House (China) Holdings Limited ((EJ)) dropped 4% to $4.32 after the real estate services company in China reported third quarter revenues rose 28% to $39.3 million from $30.6 million a year ago. Net income in the quarter rose 28% to $10.9 million or 13 cents per diluted ADS compared to net income of $8.5 million or 11 cents per ADS a year ago.

E-House (China) Holdings Limited ((EJ)) in the last one year traded as high as $29.12 in December 2007 and as low as $4.33 in November 2008. Based on the yesterday''s closing price of $4.50 the company has market cap of $371.13 million.

Eagle Bulk Shipping Inc ((EGLE)) slid 36.5% or $2.36 to $4.08 after the Eagle Bulk Shipping''s rating was cut to ""underweight"" from ""neutral,"" while Navios Maritime Partners was downgraded to ""neutral"" from ""overweight."" Diana Shipping was upgraded to ""overweight"" from ""neutral.""

The Gymboree Corporation ((GYMB)) climbed 19.2% or $3.19 to $19.67 after the children''s clothing retailer reported a surge in third-quarter profit.

Limited Brands, Inc ((LTD)) slumped 4.9% or 4 cents to $7.64 after the owner of Victoria''s Secret shops and the Bath & Body Works chains reported better than expected third-quarter results.

Lincoln National Corporation ((LNC)) fell 18.3% or $1.34 to $5.97 after the stock was down over 40% yesterday. Barclays assigned $60 price target.

GameStop Corp (GME)) dropped 6% to $19.30 after the retailer of video games entertainment software reported third quarter sales rose 5% to $1.7 billion from $1.61 billion a year ago. Net income in the quarter fell 10% to $46.7 million or 28 cents per diluted share compared to net income of $52.0 million or 31 cents per share a year ago. Comparable same store sales decreased 1.8%.

GameStop Corp ((GME)) in the last one year traded as high as $63.77 in December 2007 and as low as $20.31 in November 2008. Based on the yesterday''s closing price of $20.56 the company has market cap of $3.37 billion.

Limited Brands, Inc ((LTD)) rose 0.4% to $7.61 after the women’s apparel retailer reported third quarter revenues fell 4% to $1.84 billion from $1.92 billion a year ago. Net income in the quarter fell 66% to $4.17 million or 1 cent per diluted share compared to net income of $12.1 million or 3 cents per share a year ago.

Limited Brands, Inc ((LTD)) in the last one year traded as high as $22.16 in September 2008 and as low as $7.53 in November 2008. Based on the yesterday''s closing price of $7.58 the company has market cap of $2.58 billion.

New York and Company, Inc ((NWY)) plunged 21% to $1.14 after the specialty retailer of fashion-oriented women’s apparel reported third quarter revenues fell 10% to $249.0 million from $276.4 million a year ago. Net loss in the quarter was $7.9 million or 13 cents per diluted share compared to net loss of $16.0 million or 26 cents per share a year ago.

Comparable same store sales fell 14%.

New York and Company, Inc ((NWY)) in the last one year traded as high as $12.12 in September 2008 and as low as $1.43 in November 2008. Based on the yesterday''s closing price of $1.46 the company has market cap of $87.46 million.

ProLogis ((PLD)) plunged 15.9% or 55 cents to $2.91 after the world''s largest owner and developer of distribution facilities as investors worried that continued economic weakness and tight credit markets may force the company to raise more capital and dilute current share holders.

Patterson Companies, Inc ((PDCO)) declined 11.4% or $2.25 to $17.42 after the distributor to veterinarian and rehabilitation supply markets, posted a decline in its second quarter profit, hurt by incremental interest expense. The company cuts its full year 2009 forecast, citing soft sales of consumable supplies and weak economic conditions.

PetSmart, Inc ((PETM)) rose 12.8% or $1.71 to $15.03 after the pet food and supplies reported better than expected sales and earnings. The third quarter revenues rose 11.6% to $1.25 billion from $1.12 billion a year ago. Net income in the quarter rose 22% to $35.8 million or 28 cents per diluted share compared to net income of $29.5 million or 23 cents per share a year ago. Comparable same store sales increased 5.4%.

The Royal Bank of Scotland Group plc ((RBS)) gained 12.3% or $1.51 to $13.72 after the U.K. bank shares soared 13% Thursday on expectations stockholders will vote in favor of a proposed 20 billion pound ($30 billion) investment from the government, which would shore up the beleaguered bank''s balance sheet.

Shareholders are due to vote later Thursday on the plan to issue 15 billion pounds of new shares underwritten by the government, and sell 5 billion pounds of preference shares directly to the government.

School Specialty, Inc ((SCHS)) dropped 8.6% to $16.54 after the education company providing supplemental learning products to the preK-12 market reported second quarter revenues fell 0.7% to $390.3 million from $392.9 million a year ago. Net income in the quarter fell 12% to $32.3 million or $1.71 per diluted share compared to net income of $36.6 million or $1.74 per share a year ago.

School Specialty, Inc ((SCHS)) in the last one year traded as high as $36.28 in December 2007 and as low as $17.80 in November 2008. Based on the yesterday''s closing price of $17.93 the company has market cap of $336.81 million.

Suntech Power Holdings Co., Ltd dropped 27% to $6.54 after the world''s largest photovoltaic module manufacturer for solar panels reported third quarter revenues rose 53.7% to $594.4 million from $386.7 million a year ago. Net income in the quarter rose 4.9% to $55.9 million or 33 cents per diluted ADS compared to net income of $53.3 million or 32 cents per ADS a year ago.

Suntech Power Holdings Co., Ltd ((STP)) in the last one year traded as high as $90.00 in December 2007 and as low as $8.93 in November 2008. Based on the yesterday''s closing price of $8.93 the company has market cap of $1.38 billion.

The Goodyear Tire & Rubber Company ((GT)) decreased 15.3% or 74 cents to $4.09 after investors worried that a decline in auto sales and weak economic climate will drag sales and earnings sharply lower.

XL Capital Ltd ((XL)) slid 14.6% or 75 cents to $4.36 as insurance stocks remain weak in trading.