Brooks Automation Plunges; Expeditors, ICE Rise

123jump.com Staff
10 Feb, 2009
New York City

Brooks Automation plunges on first quarter loss. Expeditors International, IntercontinentalExchange and Molson Coors Brewing Company surge. General Motors Corporation cuts 10,000 salaried jobs.

[R]11:00AM New York – Brooks Automation plunges on first quarter loss. Expeditors International, IntercontinentalExchange and Molson Coors Brewing Company surge. General Motors Corporation cuts 10,000 salaried jobs.[/R]

Of the stocks in S&P 500 index, 91 increased, 404 declined and 5 were unchanged.

American Capital Ltd led the decliners in the S&P 500 index with a loss of 6.3% followed by losses in Fifth Third Bancorp with a loss of 5.8%, in Molson Coors Brewing Company of 8.1%, in Principal Financial Group of 26.7%, in SUPERVALU Inc of 7.0%.

Expeditors International of Washington, Inc led gainers in the S&P 500 index with a rise of 8.7% followed by gains in Genworth Financial, Inc of 11.9%, in Qwest Communications International Inc of 7.7% and Tenet Healthcare Corporation of 7.8%.

Other Movers

American Financial Group, Inc ((AFG)) gained 19.7% or $3.48 to $21.22 after the seller of annuities and crop insurance expects core earnings of $3.70 to $4.00 a share for the year compared with its previous forecast of $3.65 to $3.85 a share.

American Science and Engineering, Inc ((ASEI)) climbed 5.6% or $4.30 to $80.87 after the maker of explosive detecting equipment for security reported fiscal third quarter profit of $1.13 a share.

Brooks Automation, Inc ((BRKS)) dropped 6.8% or 40 cents to $5.46 after the automation solutions and integrated subsystems provider said first quarter revenues fell 50.3% to $73.4 million from $147.8 million a year ago. Net loss in the quarter was $35.1 million or 56 cents per diluted share compared to net loss of $1.4 million or 2 cents per share a year ago.

Charles River Laboratories International, Inc ((CRL)) increased 9.7% or $2.58 to $29.00 after the provider of medical research animals and services which sees a 5% drops in its 2009 growth rate and lowered the estimates of profit to a range of $2.30 to $2.60 a share excluding items.

DURECT Corporation ((DRRX)) fell 4.3% or 14 cents to $3.07 after the specialty pharmaceutical company said fourth quarter revenues was flat $6.6 million from $6.6 million a year ago. Net loss in the quarter was $19.5 million or 24 cents per diluted share compared to net loss of $7.2 million or 10 cents per share a year ago.

Expeditors International of Washington, Inc ((EXPD)) gained 8.7% or $2.67 to $33.11 after the business of providing global logistics services said fourth quarter earnings rose to $77.7 million or 36 cents a share from to $70.1 million or 32 cents a share in the same period a year ago.

Forward Air Corporation ((FWRD)) declined 4.8% or $1.05 to $20.80 an air cargo industry contractor said fourth quarter operating revenues rose 8% to $123.5 million from $114.5 million a year ago. Net income in the quarter fell 33% to $8.3 million or 29 cents per diluted share compared to net income of $12.4 million or 43 cents per share a year ago.

General Motors Corporation ((GM)) rose 2.5% or 2 cents to $2.90 after the troubed automaker said it will cut 10,000 salaried jobs globally and reduce pay for other U.S. white collar workers by as much as 10% to cut the costs. The automaker has to meet requirements of government loans of $13.4 billion.

Genworth Financial, Inc ((GNW)) rose 3.0% or 8 cents to $2.76 after the life insurer and mortgage guarantor reported fourth quarter loss of 48 cents a share as investments in residential mortgages deteriorated.

IntercontinentalExchange, Inc ((ICE)) rose 3.9% or $2.43 to $64.69 after the operator of exchanges and over the counter market reported fourth quarter revenues rose 30% to $207 million from $159 million a year ago. Net income in the quarter fell 24% to $49 million or 67 cents per diluted share compared to net income of $65 million or 90 cents per share a year ago.

Lincoln National Corporation ((LNC)) slid 6.5% or $1.17 to $16.60 after the insurer posted a fourth quarter loss due to investment losses and other special charges.

M.D.C. Holdings, Inc ((MDC)) lost 7.2% or $2.56 to $32.79 after the homebuilder reported fourth quarter revenues fell 62% to $296.2 million from $772.1 million a year ago. Net loss in the quarter was $89 million or $1.92 per diluted share compared to net loss of $281.1 million or $6.14 per share a year ago.

Molson Coors Brewing Company ((TAP)) declined 6.4% or $2.55 to $38.00 after it reported fourth quarter sales rose 3% to $1.74 billion from $1.69 billion a year ago. Net income in the quarter fell 49% to $90.7 million or 49 cents per diluted share compared to net income of $176.2 million or 96 cents per share a year ago.

ProLogis ((PLD)) surged 5.7% or 54 cents to $10.06 after the warehouse owner and developer reported a loss in fourth quarter funds from operations.

Principal Financial Group ((PFG)) decreased 23.7% or $4.05 to $12.98 after the insurance, retirement, banking and financial services company said fourth quarter sales fell 13% to $2.53 billion from $2.9 billion a year ago. Net loss in the quarter was $7.5 million or 3 cents per diluted share compared to net income of $34.1 million or 13 cents per share a year ago.

Qwest Communications International Inc ((Q)) added 5.3% or 18 cents to $3.55 after the phone service provider posted fourth quarter profit that exceeded the average analyst estimate by 18% after trimming payrolls.

SUPERVALU Inc ((SVU)) the grocery chain that conducts its retail operations fell 8.8% or $1.72 to $17.83.

Vulcan Materials Company ((VMC)) lost 4.2% or $2.18 to $49.29 after the nation’s largest producer of construction aggregates said fourth quarter sales fell 6% to $757 million from $807 million a year ago. Net income in the quarter fell 82.5% to $14.8 million or 13 cents per diluted share compared to net income of $84.6 million or 82 cents per share a year ago.

Yingli Green Energy Holding Company Limited ((YGE)) surged 7.0% or 42 cents to $6.40 after the China based maker of solar power modules reported fourth quarter sales of $258.1 million beating the average estimate by 7.8%.