Celgene, Hartford Financial, Worthington Fall

123jump.com Staff
01 Apr, 2009
New York City

Celgene Corporation led the decliners in the S&P 500 index with a loss of 14.1%. Apollo Group, Inc reports second quarterly profit 77 cents. Sealy Corporation first quarter net falls 71%. Worthington Industries, Inc third quarter profit plummets on lower volumes.

[R]1:20PM New York – Celgene Corporation led the decliners in the S&P 500 index with a loss of 14.1%. Apollo Group, Inc reports second quarterly profit 77 cents. Sealy Corporation first quarter net falls 71%. Worthington Industries, Inc third quarter profit plummets on lower volumes.[/R]

Of the stocks in S&P 500 index, 47 increased, 453 declined and 0 were unchanged.

Celgene Corporation led the decliners in the S&P 500 index with a loss of 14.1% followed by losses in General Motors Corporation of 13.9%, in Apollo Group, Inc of 13.0%, in Aflac Incorporated of 9.0% and in CB Richard Ellis Group, Inc of 6.4%.

Wynn Resorts, Limited led gainers in the S&P 500 index with a rise of 4.7% followed by gains in Corning Incorporated of 3.6%, in Sun Microsystems, Inc of 3.3% and Time Warner Inc of 2.9%.

Other Movers

Apollo Group, Inc ((APOL)) decreased 5.5% or $4.33 to $74.00 after the private education provider said second quarter revenues rose 26% to $876.1 million from $693.6 million a year ago. Net income in the quarter was $125.3 million or 77 cents per diluted share compared to net loss of $32 million or 19 cents per share a year ago.

Aflac Incorporated ((AFL)) lost 8.8% or $1.71 to $17.65 after the largest seller of supplemental insurance after S&P downgraded hybrid debt issued by more than 60 European companies that will require company to write down more assets in its portfolio.

Borders Group, Inc ((BGP)) added 7.9% or 0.050 to $0.63 after the bookstore chain said fourth quarter revenues fell 13% to $1.1 billion from $1.26 billion a year ago. Net income in the quarter fell 54% to $29.6 million or 49 cents per diluted share compared to net income of $64.7 million or $1.10 per share a year ago.

Celgene Corporation ((CELG)) dropped 14.1% or $5.80 to $38.60 the biopharmaceutical company said revenue will be below Wall Street''s consensus estimate but did reaffirm full-year earnings per share. Celgene sees first quarter revenues of $600 million, lower than consensus estimate of $614 million and estimated earnings at the low end of its previous estimate range of $2.05 and $2.15 a share.

Corning Incorporated ((GLW)) jumped 6.0% or 80 cents to $14.07 after the technology-based company announced today that R. Tony Tripeny, vice president and corporate controller has been designated by the executive committee of Corning''s Board of Directors as principal accounting officer effective immediately.

G-III Apparel Group, Ltd ((GIII)) fell 5.3% or 31 cents to $5.52 after the sportswear and outerwear maker said fourth quarter sales rose 33% to $170.7 million from $128.7 million a year ago. Net loss in the quarter was $32.1 million or $1.93 per diluted share compared to net income of $1.1 million or 6 cents per share a year ago.

General Motors Corporation ((GM)) slid 13.8% or 27 cents to $1.67 after the U.S. automaker likely to be divided into ‘good assets’ and ‘bad assets’ and operate the bad assets under the protection of bankruptcy. President Obama task force is looking to ford the company in what is termed as ‘controlled bankruptcy’ outside the courts and exchange the common stock of new company for the existing stock.

The Hartford Financial Services Group, Inc ((HIG)) an insurance and financial services company plunged 6.6% or 52 cents to $7.84.

H.B. Fuller Company ((FUL)) slid 4.5% or 59 cents to $12.41 after the maker of adhesives, sealants, paints and other specialty chemicals said first quarter revenues fell 14% to $278.6 million from $322.6 million a year ago. Net income in the quarter fell 66% to $6.1 million or 13 cents per diluted share compared to net income of $18.2 million or 32 cents per share a year ago.

Heelys, Inc ((HLYS)) declined 9.3% or 16 cents $1.55 after the maker of wheeled shoes said fourth quarter sales rose 59% to $15.6 million from $9.8 million a year ago. Net loss in the quarter was $5.2 million or 19 cents per diluted share compared to net loss of $5.9 million or 22 cents per share a year ago.

M&T Bank Corporation ((MTB)) the bank company rose 4.9% or $2.25 to $47.49.

Reynolds American Inc ((RAI)) gained 4.8% or $1.74 to $37.58 after the company for R. J. Reynolds Tobacco Company the cigarette manufacturer in the United States was recommended by a regional brokerage firm.

Sealy Corporation ((ZZ)) rose 6.4% or 9 cents to $1.49 after the mattress maker said first quarter revenues fell 21% to $310 million from $391.9 million a year ago. Net income in the quarter fell 71% to $4.7 million or 5 cents per diluted share compared to net income of $16.2 million or 17 cents per share a year ago.

Worthington Industries, Inc ((WOR)) lost 6.5% or 55 cents to $8.16 after the diversified metal processing company reported third quarter sales fell 31% to $501.1 million from $725.7 million a year ago. Net income in the quarter fell 91% to $1.6 million or 2 cents per diluted share compared to net income of $18.3 million or 23 cents per share a year ago.

Wynn Resorts, Limited ((WYNN)) climbed 4.7% or 94 cents to $20.91