First Solar Drops; Macy's, Orbitz Surge

Mayank Mehta
25 Feb, 2009
New York City

CF Industries Holdings, Inc led gainers in the S&P 500 index with a rise of 15.5% after it received an hostile offer from Agrium. Del Monte Foods Company third quarter profit rises. Macys, Inc profit drops to $310 million. Sempra Energy fourth quarter net jumps 10%.

[R]11:00AM New York – CF Industries Holdings, Inc led gainers in the S&P 500 index with a rise of 15.5%. Del Monte Foods Company third quarter profit rises. Macy''s, Inc profit drops to $310 million. Sempra Energy fourth quarter net jumps 10%.[/R]

Of the stocks in S&P 500 index, 92 increased, 406 declined and 2 were unchanged.

Jones Apparel Group, Inc led the decliners in the S&P 500 index with a loss of 16.2% followed by losses in Lincoln National Corporation of 14.9%, in Wynn Resorts, Limited of 11.4%, in Marshall & Ilsley Corporation of 11.0% and in Citigroup Inc of 10.3%.

CF Industries Holdings, Inc led gainers in the S&P 500 index with a rise of 15.5% followed by gains in General Motors Corporation of 9.0%, in American International Group, Inc of 7.1% and The TJX Companies, Inc of 5.7%.

Other Movers

AT&T Inc ((T)) rose 2% or 21 cents to $23.46 after the second largest telecom operator was upgraded by J.P. Morgan.

Del Monte Foods Company ((DLM)) increased 9.4% or 62 cents to $7.17 after the producer of branded food and pet products reported third quarter sales rose 8.4% to $942.3 million from $869.0 million a year ago. Net income in the quarter rose 13.5% to $60.5 million or 30 cents per diluted share compared to net income of $53.3 million or 26 cents per share a year ago.

Dolan Media Company ((DM)) added 15.8% or 80 cents to $5.84 after the provider of business information and professional services to the legal, financial and real estate sectors said fourth quarter revenues rose 44% to $59.0 million from $41.0 million a year ago. Net income in the quarter rose 10% to $3.4 million or 12 cents per diluted share compared to net income of $3.1 million or 12 cents per share a year ago.

Dresser-Rand Group Inc ((DRC)) gained 13.7% or $2.59 to $21.42 after the oil and gas industry equipment make said fourth quarter revenues rose 43.4% to $745.8 million from $520.1 million a year ago. Net income in the quarter rose 76% to $77 million or 94 cents per diluted share compared to net income of $43.8 million or 51 cents per share a year ago.

Eaton Vance Corp ((EV)) jumped 3.3% or 58 cents to $17.73 after the asset manager reported first quarter sales fell 28% to $209.5 million from $289.8 million a year ago. Net income in the quarter fell 57% to $24.7 million or 21 cents per diluted share compared to net income of $57.9 million or 46 cents per share a year ago.

First Solar, Inc ((FSLR)) fell 18.1% or $24.96 to $112.72 after the world’s largest maker of thin-film solar power modules reported net income for the fourth quarter 2008 surged to $132.8 million compared to the net income of $62.9 million for the tallying period of fiscal year 2007.

FCStone Group, Inc ((FCSX)) plunged 56.9% or $2.26 to $1.71 an integrated commodity risk management firm reported today that it expects to incur an additional $60 million to $80 million pre-tax bad debt provision for the second quarter of fiscal 2009. An after-tax basis would be approximately $36 million to $48 million or $1.30 per share to $1.73 per share in the second quarter of fiscal 2009.

Fresh Del Monte Produce Inc ((FDP)) rose 5.7% or $1.11 to $20.55 after the seller of prepared and fresh fruits and vegetables said fourth quarter sales fell 2% to $831 million from $848.2 million a year ago. Net income in the quarter fell 33% to $22.9 million or 36 cents per diluted share compared to net income of $34.4 million or 56 cents per share a year ago.

Hearst-Argyle Television, Inc ((HTV)) plunged 5.5% or 10 cents to $1.70 an independent or non network-owned, television station group reported fourth quarter revenues fell 9% to $197.1 million from $216.6 million a year ago. Net loss in the quarter was $552.1 million or $5.90 per diluted share compared to net income of $33.6 million or 34 cents per share a year ago.

Hormel Foods Corporation ((HRL)) added 3.4% or $1.10 to $33.05 after the meat processor will replace alternative asset manager American Capital Ltd. in the S&P 500 index and Ventas Inc. a Chicago-based health care real estate investment trust will replace clothing maker Jones Apparel Group Inc.

The J.M. Smucker Company ((SJM)) plunged 7.3% or $3.03 to $38.11 after the nation''s top maker of jams and jellies reported third quarter sales rose 78% to $1.18 billion from $665.4 million a year ago. Net income in the quarter rose 84% to $77.9 million or 68 cents per diluted share compared to net income of $42.4 million or 75 cents per share a year ago.

Kendle International Inc ((KNDL)) fell 10.3% or $2.21 to $19.14 after the clinical research company reported fourth quarter revenues rose 5% to $109.2 million from $104.3 million a year ago. Net income in the quarter fell 22% to $5 million or 33 cents per diluted share compared to net income of $6.4 million or 43 cents per share a year ago.

Macy''s, Inc ((M)) climbed 12.0% or 89 cents to $8.29 after the department stores chain operator said fourth quarter sales fell 7.7% to $7.93 billion from $8.59 billion a year ago. Net income in the quarter fell 59% to $310 million or 73 cents per diluted share compared to net income of $750 million or $1.73 per share a year ago.

Orbitz Worldwide, Inc ((OWW)) jumped 13.7% or 35 cents to $2.90 after the online travel company said fourth quarter revenues fell 9% to $180 million from $197 million a year ago. Net income in the quarter was $8 million or 10 cents per diluted share compared to net loss of $11 million or 13 cents per share a year ago.

Parker Drilling Company ((PKD)) rose 33.5% or 43 cents to $1.71 after the oil drilling contractor said fourth quarter revenues rose 17% to $212.4 million from $180.8 million a year ago. Net loss in the quarter was $39.5 million or 35 cents per diluted share compared to net income of $34.6 million or 31 cents per share a year ago.

Radian Group Inc ((RDN)) surged 36.5% or 65 cents to $2.43 after the credit enhancement company said fourth quarter revenues was $59.4 million from $279.2 million a year ago. Net loss in the quarter was $250.4 million or $3.11 per diluted share compared to net loss of $721 million or $9.03 per share a year ago.

Sempra Energy ((SRE)) added 5.6% or $2.23 to $41.41 after the San Diego-based energy provider said fourth quarter revenues fell 26.4% to $2.29 billion from $3.11 billion a year ago. Net income in the quarter rose 10.4% to $319 million or $1.30 per diluted share compared to net income of $289 million or $1.10 per share a year ago.

Ternium S.A ((TX)) gained 6.1% or 42 cents to $7.23 after the flat and long steel products maker said fourth quarter sales was flat $1.72 billion from $1.72 billion a year ago. Net loss in the quarter was $348.5 million or $1.67 per ADS compared to net income of $247.3 million or $1.06 per ADS a year ago.

Wynn Resorts, Limited ((WYNN)) increased 10.8% or $2.52 to $25.80 after the casino operator said fourth quarter sales fell 13.6% to $614.3 million from $711.3 million a year ago. Net loss in the quarter was $159.6 million or $1.49 per diluted share compared to net income of $65.5 million or 57 cents per share a year ago.

Zale Corporation ((ZLC)) dropped 9.5% or 14 cents to $1.31 after the specialty retailer of fine jewelry in North America reported second quarter revenues fell 17.9% to $679 million from $828 million a year ago. Net loss in the quarter was $23.6 million or 74 cents per diluted share compared to net income of $60.8 million or $1.34 per share a year ago.