First Solar Rises; Bank of Montreal Falls

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

Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 13.3%. AutoZone, Inc second quarter net up 8.6%. Eagle Bulk Shipping Inc fourth quarter profit declines on higher expenses. iPCS, Inc fourth quarter loss narrows.

[R]3:00PM New York – Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 13.3%. AutoZone, Inc second quarter net up 8.6%. Eagle Bulk Shipping Inc fourth quarter profit declines on higher expenses. iPCS, Inc fourth quarter loss narrows.[/R]

Of the stocks in S&P 500 index, 451 increased, 47 declined and 2 were unchanged.

American Capital Ltd led the decliners in the S&P 500 index with a loss of 16.8 % followed by losses in The Manitowoc Company, Inc with a loss of 7.4%, in Genzyme Corporation of 3.8%, in Textron Inc of 2.4%, in Frontier Communications Corporation of 2.4%.

Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 13.3% followed by gains in American International Group, Inc of 12.6%, in AutoZone, Inc of 10.6% and CB Richard Ellis Group, Inc of 8.7%.

Other Movers

Advanced Micro Devices, Inc ((AMD)) rose 6.9% or 14 cents to $2.15 after the semiconductor company that the plants that make AMD''s chips are now part of the new company a joint venture with Advanced Technology Investment Co an Abu Dhabi state owned venture capital firm.

Apple Inc ((AAPL)) gained 0.3% or 30 cents to $88.25 ahead of the release of new desktop computers.

AutoZone, Inc ((AZO)) jumped 7.1% or $9.97 to $150.00 after the auto parts retailer reported second quarter revenues rose 8% to $1.45 billion from $1.34 billion a year ago. Net income in the quarter rose 8.6% to $115.9 million or $2.03 per diluted share compared to net income of $106.7 million or $1.67 per share a year ago.

Bank of Montreal ((BMO)) plunged 6.3% or $1.40 to $20.73 after it reported first quarter revenues rose 20% to $2.4 billion from $2.0 billion a year ago. Net income in the quarter fell 12% to $225 million or 39 cents per diluted share compared to net income of $255 million or 47 cents per share a year ago.

The Bank of Nova Scotia ((BNS)) lost 8.1% or $1.84 to $20.68 after it reported first quarter revenues rose 21% to $3.4 billion from $2.8 billion a year ago. Net income in the quarter rose 1% to $842 million or 80 cents per diluted share compared to net income of $835 million or 82 cents per share a year ago.

BioScrip, Inc ((BIOS)) slid 8.0% or 12 cents to $1.37 after the specialty pharmaceutical company reported fourth quarter revenues rose 18.6% to $366.6 million from $309.2 million a year ago. Net loss in the quarter was $76.6 million or $1.98 per diluted share compared to net income of $2.5 million or 6 cents per share a year ago.

Bruker Corporation ((BRKR)) the maker of scientific instruments surged 31.2% or $1.12 to $4.72.

Chico’s FAS, Inc ((CHS)) rose 8.2% or 24 cents to $4.34 after the specialty retailer of private branded reported fourth quarter sales fell 9% to $373.4 million from $409.3 million a year ago. Net loss in the quarter was $40.5 million or 23 cents per diluted share compared to net loss of $20.5 million or 12 cents per share a year ago.

D.R. Horton, Inc ((DHI)) fell 4.9% or 40 cents to $7.65 after the third-largest U.S. homebuilder was downgraded at Credit Suisse to “underperform” and a price target of $7.50.

Eagle Bulk Shipping Inc ((EGLE)) added 14.2% or 45 cents to $3.60 after the ocean transportation of a range of major and minor bulk cargoes said fourth quarter revenues rose 68.5% to $60 million from $35.6 million a year ago. Net income in the quarter fell 43.6% to $9.2 million or 20 cents per diluted share compared to net income of $16.3 million or 35 cents per share a year ago.

First Solar, Inc ((FSLR)) rose 3.4% or $3.59 to $107.56 after the largest maker of thin-film solar power modules announced plans to acquire solar projects and land rights from California-based OptiSolar Inc.

Genzyme Corporation ((GENZ)) fell 8.8% or $4.98 to $51.46 after the maker of treatments for rare genetic disorders said that FDA needs additional data and conditions on the Lumizyme approval for the treatment of Pompe disease.

iPCS, Inc ((IPCS)) rose 3.3% or 25 cents to $7.80 after the company that operates as a PCS Affiliate of Sprint Nextel said fourth quarter revenues fell 2.5% to $138.4 million from $141.9 million a year ago. Net loss in the quarter was $0.1 million or break even per diluted share compared to net loss of $4.1 million or 24 cents per share a year ago.

Isle of Capri Casinos, Inc ((ISLE)) climbed 33.0% or 99 cents to $3.99 after the developer, owner and operator of branded gaming facilities reported third quarter revenues rose 14.3% to $308.2 million from $269.7 million a year ago. Net income in the quarter was $46.1 million or $1.45 per diluted share compared to net loss of $13.8 million or 45 cents per share a year ago.

MBIA Inc ((MBI)) gained 10.0% or 25 cents to $2.75 after the bond insurer reported fourth quarter revenues loss was $1.59 billion from a loss of $2.22 billion a year ago. Net loss in the quarter was $1.2 billion or $5.30 per diluted share compared to net loss of $2.3 billion or $18.55 per share a year ago.

McDermott International, Inc ((MDR)) fell 14.1% or $1.67 to $10.12 after the construction and engineering services for oil and gas companies said fourth quarter revenues rose 9% to $1.66 billion from $1.53 billion a year ago. Net income in the quarter fell 73% to $43 million or 19 cents per diluted share compared to net income of $160 million or 70 cents per share a year ago.

PHH Corporation ((PHH)) declined 3.7% or 36 cents to $9.26 after the outsource provider of mortgage and fleet management services said fourth quarter revenues fell 60% to $218 million from $550 million a year ago. Net loss in the quarter was $216 million or $3.98 per diluted share compared to net income of $12 million or 21 cents per share a year ago.

Seaspan Corporation ((SSW)) rose 5.8% or 45 cents to $8.20 after the containerships and charters provider reported fourth quarter revenues rose 14% to $62.7 million from $55.0 million a year ago. Net loss in the quarter was $241.9 million or $3.63 per diluted share compared to net loss of $20.0 million or 35 cents per share a year ago.