Alcoa, Nucor Fall; Home Depot, Strayer Rise

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

Nucor Corporation led the decliners in the S&P 500 index with a loss of 12.0%. FactSet Research Systems Inc second quarter net up 17% on stronger dollar. Jamba, Inc reported fourth quarter net loss. Star Bulk Carriers Corp fourth quarter net soars on bigger fleet.

[R]12:30PM New York – Nucor Corporation led the decliners in the S&P 500 index with a loss of 12.0%. FactSet Research Systems Inc second quarter net up 17% on stronger dollar. Jamba, Inc reported fourth quarter net loss. Star Bulk Carriers Corp fourth quarter net soars on bigger fleet.[/R]

Of the stocks in S&P 500 index, 178 increased, 310 declined and 12 were unchanged.

Nucor Corporation led the decliners in the S&P 500 index with a loss of 12.0% followed by losses in Alcoa Inc of 9.9%, in United States Steel Corporation of 8.1%, in AK Steel Holding Corporation of 7.8%, in Huntington Bancshares Incorporated of 5.6%.

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 7.0% followed by gains in Cephalon, Inc of 4.4%, in Kohl’s Corporation of 4.3% and Genworth Financial, Inc of 3.4%.

Other Movers

Alcoa Inc ((AA)) dropped 11.1% or 68 cents to $5.44 after the aluminum maker cut its dividend for the first time in more than a quarter century. The company cut its dividend to 3 cents from 17 cents, 82% reduction.

Cisco Systems, Inc ((CSCO)) rose 1.5% or 24 cents to $15.67 after Goldman Sachs added the networking maker on its conviction buy list Tuesday and set stock price target of $18.

eDiets.com, Inc ((DIET)) slid 4.0% or 6 cents to $1.42 after the provider of convenient at-home diet, fitness and healthy lifestyle solutions said fourth quarter revenues fell 42% to $4.0 million from $6.9 million a year ago. Net loss in the quarter was $8.4 million or 33 cents per diluted share compared to net loss of $4.2 million or 17 cents per share a year ago.

FactSet Research Systems Inc ((FDS)) rose 7.7% or $3.03 to $42.00 after the provider of integrated global financial and economic information reported second quarter sales rose 12% to $156.5 million from $140.2 million a year ago. Net income in the quarter rose 17.3% to $34.6 million or 71 cents per diluted share compared to net income of $29.5 million or 59 cents per share a year ago.

The Home Depot, Inc ((HD)) rose 4.8% or 98 cents to $21.12 after the largest home-improvement retailer was upgraded by Jefferies & Co.

Jamba, Inc ((JMBA)) fell 6.3% or 0.03 cents to $0.440 after the retailer fruit smoothies said fourth quarter revenues rose 2.8% to $56.1 million from $54.6 million a year ago. Net loss in the quarter was $41.2 million or 75 cents per diluted share compared to net loss of $150.0 million or $2.85 per share a year ago.

Kimco Realty Corporation ((KIM)) an operator of community shopping centers fell 6.5% or 52 cents to $7.39.

Nucor Corporation ((NUE)) slipped 11.9% or $4.43 to $32.52 after the steel maker is forecasting a first-quarter loss on weak demand high operating costs. The company expects a loss of between 55 cents a share and 65 cents a share compared with earnings of $1.41 a share a year earlier.

Star Bulk Carriers Corp ((SBLK)) added 20.8% or 38 cents to $2.20 after the global shipping company focusing on transportation of dry bulk cargoes said fourth quarter revenues was $72.8 million from $3.6 million a year ago. Net income in the quarter was $50.2 million or 89 cents per diluted share compared to net income of $1.6 million or 4 cents per share a year ago.

Sauer-Danfoss Inc ((SHS)) slumped 29.5% or $1.39 to $3.31 after the maker of mobile hydraulic systems for 2009 the company estimated a loss between $1.60 and $2.40 a share. The forecast includes restructuring costs of 40 cents to 60 cents a share.

Strayer Education, Inc ((STRA)) rose 6.4% or $9.66 to $159.76 after the education service company was upgraded by Piper Jaffray Co.

SkillSoft Public Limited Company ((SKIL)) rose 22.8% or $1.21 to $6.50 after the employee-training software reported fiscal fourth quarter profit decline of 45% on one-time charges.