Millicom Drop 12%, State Street Fall 10%

123jump.com Staff
02 Mar, 2009
New York City

American Capital Ltd led the decliners in the S&P 500 index with a loss of 16.2%. American International Group, Inc posts $61.7 billion in fourth quarter loss. Atlas America, Inc posts loss in fourth quarter. Clear Channel Outdoor Holdings, Inc reports $3 billion loss in fourth quarter.

[R]11:00AM New York – American Capital Ltd led the decliners in the S&P 500 index with a loss of 16.2%. American International Group, Inc posts $61.7 billion in fourth quarter loss. Atlas America, Inc posts loss in fourth quarter. Clear Channel Outdoor Holdings, Inc reports $3 billion loss in fourth quarter.[/R]

Of the stocks in S&P 500 index, 45 increased, 450 declined and 5 were unchanged.

American Capital Ltd led the decliners in the S&P 500 index with a loss of 16.2% followed by losses in Bank of America Corporation with a loss of 12.1%, in Humana Inc of 10.1%, in Leucadia National Corporation of 9.6%, in Developers Diversified Realty Corporation of 8.8%.

American International Group, Inc led gainers in the S&P 500 index with a rise of 19.1% followed by gains in Citigroup Inc of 5.3%, in The Dow Chemical Company of 3.7% and Dell Inc of 2.5%.

Other Movers

American International Group, Inc ((AIG)) added 18.9% or 0.08 cents to $0.50 after the world''s largest insurer reported no revenues during the three months ended December 31, 2008 and December 31, 2007. Net loss in the fourth quarter was $61.7 billion or $22.95 per diluted share compared to net loss of $5.3 billion or $2.08 per share a year ago.

American Capital Ltd ((ACAS)) declined 16.2% or 22 cents to $1.13 an alternative asset management company announced a fall in fourth quarter net operating income to $44 million or $0.21 per share from $174 million or $0.91 per share in the previous year. Net loss per common shares widened to $8.13 per share from $1.27 per share in the prior year.

Atlas America, Inc ((ATLS)) slid 5.9% or 60 cents to $9.47 an energy company engaged in the development and production of natural gas reported fourth quarter revenues rose 78% to $379.5 million from $213.6 million a year ago. Net loss in the quarter was $66.6 million or $2.41 per diluted share compared to net loss of $13.9 million or 51 cents per share a year ago.

Bank of America Corporation ((BAC)) dropped 12.1% or 48 cents to $3.47 after the bank holding company was even worse, sinking 10.1%.

Clear Channel Outdoor Holdings, Inc ((CCO)) dropped 24.0% or 78 cents to $2.50 after the global leader in the outdoor advertising industry reported fourth quarter revenues fell 16% to $785.5 million from $936.7 million a year ago. Net loss in the quarter was $3.0 billion or $8.53 per diluted share compared to net income of $106.6 million or 30 cents per share a year ago.

HSBC Holdings PLC ((HBC)) Plunged 19.2% or $6.68 to $28.12 after the global lender offered to raise 12.5 billion pounds in the largest ever rights issue by a U.K. company at a discount of 51%. HSBC net profit fell 70% to $5.73 billion and plans to close its consumer lending operation in the U.S.

Humana Inc ((HUM)) the health and supplemental benefits companies declined 10.1% or $2.82 to $20.85.

Leucadia National ((LUK)) lost 9.6% or $1.98 to $12.65 after the diversified fourth quarter loss from continuing operations of $2.75 million or $11.72 per share compared to profit of $0.44 million or $1.87 per share in the prior year period.

Marshall & Ilsley Corporation ((MI)) fell 7.2% or 33 cents to $4.25 after the Midwest bank raised its forecast for a loss to $1.5 billion on goodwill impairment.

Millicom International Cellular S.A ((MICC)) declined 12.5% or $4.95 to $34.42 after the mobile-phone operator today announces that the board replaced the company chief executive.

State Street Corporation (STT)) dropped 9.6% or $2.44 to $22.80 after the institutional investment manager was downgrade by Goldman Sachs on the worries that the company may have to write-down more assets.

Woodward Governor Company ((WGOV)) plunged 22.5% or $3.88 to $13.34 after the maker of turbine systems cut its 2009 earnings and sales guidance.