AllianceBernstein,Torchmark, UPS Fall

Mayank Mehta
23 Apr, 2009
New York City

Pactiv Corporation led gainers in the S&P 500 index with a rise of 21.9%. Torchmark Corporation led the decliners in the S&P 500 index with a loss of 11.3% followed by losses in Thermo Fisher Scientific Inc of 11.2%, in Robert Half International Inc of 9.8%. AllianceBerstein earnings plunge.

[R]1:00PM New York – Pactiv Corporation led gainers in the S&P 500 index with a rise of 21.9%. Affymetrix, Inc slips to first quarter loss on lower revenues. Alaska Air Group, Inc narrows first quarter loss. Chipotle Mexican Grill, Inc first quarter profit rises on top line growth.[/R]

Of the stocks in S&P 500 index, 205 increased, 291 declined and 4 were unchanged.

Torchmark Corporation led the decliners in the S&P 500 index with a loss of 11.3% followed by losses in Thermo Fisher Scientific Inc of 11.2%, in Robert Half International Inc of 9.8%, in National Oilwell Varco, Inc of 8.5% and in Invesco Ltd of 7.5%.

Pactiv Corporation led gainers in the S&P 500 index with a rise of 21.9% followed by gains in RadioShack Corporation of 18.1%, in Host Hotels & Resorts, Inc of 15.3% and Supervalu Inc of 13.8%.

Other Movers

Affymetrix, Inc ((AFFX)) dropped 3.1% or 14 cents to $4.26 after the industry-standard tool for analyzing complex genetic information said first quarter revenues fell 54% to $78.6 million from $169.6 million a year ago. Net loss in the quarter was $25.2 million or 37 cents per diluted share compared to net income of $46.3 million or 58 cents per share, a year ago.

Alaska Air Group, Inc ((ALK)) fell 9.3% or $1.85 to $17.97 after a Seattle-based airline operator reported first quarter revenues fell 11.6% to $742.4 million from $839.5 million a year ago. Net loss in the quarter was $19.2 million or 53 cents per diluted share compared to net loss of $37.3 million or $1.01 per share, a year ago.

Alliance Bernstein Holding L.P. ((AB)) dropped 15.3% or $2.89 after it reported plunge in first quarter net income of 92% to 7 cents a share from 83 cents a share. Assets under management declined 44% to $411 billion due market declines and net outflows.

Apple Inc ((AAPL)) added 3.0% or $3.59 to $125.10 after the computer and consumer-electronics maker said second quarter sales rose 9% to $8.16 billion from $7.51 billion a year ago. Net income in the quarter rose 15% to $1.21 billion or $1.33 per diluted share compared to net income of $1.05 billion or $1.16 per share, a year ago.

AutoNation, Inc ((AN)) rose 10.6% or $1.63 to $17.00 after the nation''s biggest automotive retailer reported first quarter revenues fell 34% to $2.5 billion from $3.8 billion a year ago. Net income in the quarter fell 32% to $34.6 million or 20 cents per diluted share compared to net income of $50.7 million or 28 cents per share, a year ago.

Ball Corporation ((BLL)) dropped 3.0% or $1.15 to $41.55 after a supplier of high-quality metal and plastic packaging reported first quarter sales fell 8.6% to $1.59 billion from $1.74 billion a year ago. Net income in the quarter fell 17% to $69.5 million or 73 cents per diluted share compared to net income of $83.8 million or 85 cents per share, a year ago

Chipotle Mexican Grill, Inc ((CMG)) rose 9.9% or $8.52 to $94.02 after the casual Mexican food restaurant chain said first quarter revenues rose 16% to $354.5 million from $305.3 million a year ago. Net income in the quarter rose 47% to $25.4 million or 78 cents per diluted share compared to net income of $17.3 million or 52 cents per share, a year ago.

ConocoPhillips ((COP)) added 3.5% or $1.36 to $39.42 after the nation''s third-largest oil company reported first quarter revenues fell 44% to $30.7 billion from $54.9 billion a year ago. Net income in the quarter fell 80% to $840 million or 56 cents per diluted share compared to net income of $4.14 billion or $2.62 per share, a year ago.

Cooper Industries, Ltd ((CBE)) climbed 4.0% or $1.19 to $30.35 after the global manufacturer of electrical products and tools reported first quarter revenues fell 19% to $1.26 billion from $1.55 billion a year ago. Net income in the quarter fell 35% to $100.1 million or 59 cents per diluted share compared to net income of $153.4 million or 86 cents per share, a year ago.

Eagle Materials Inc ((EXP)) jumped 3.9% or $1.06 to $27.67 after the manufacturer of basic building materials reported fourth quarter revenues fell 25% to $108.8 million from $144.8 million a year ago. Net income in the quarter rose 119% to $7.0 million or 16 cents per diluted share compared to net income of $3.2 million or 7 cents per share, a year ago.

eBay Inc ((EBAY)) added 5.2% or 78 cents to $15.58 after the online marketplace operator said first quarter revenues fell 8% to $2.02 billion from $2.2 billion a year ago. Net income in the quarter fell 22.4% to $357 million or 28 cents per diluted share compared to net income of $460 million or 34 cents per share, a year ago.

Famous Dave''s of America, Inc ((DAVE)) added 11.8% or 53 cents to $5.00 after a restaurant operator said first quarter revenues rose 0.3% to $33.8 million from $33.7 million a year ago. Net income in the quarter rose 58% to $1.3 million or 15 cents per diluted share compared to net income of $835,000 or 9 cents per share, a year ago.

National Oilwell Varco, Inc ((NOV)) plunged 8.5% or $2.91 to $30.04 after the oil service giant reported first quarter revenues rose 37.5% to $2.2 billion from $1.6 billion a year ago. Net income in the quarter rose 19% to $470 million or $1.13 per diluted share compared to net income of $398 million or $1.11 per share, a year ago.

Novellus Systems, Inc ((NVLS)) jumped 3.9% or 68 cents to $17.94 after the semiconductor gear maker said first quarter revenues fell 69% to $98.9 million from $314.7 million a year ago. Net loss in the quarter was $66.4 million or 69 cents per diluted share compared to net income of $15.5 million or 15 cents per share, a year ago.

Penn National Gaming, Inc ((PENN)) surged 8.2% or $2.29 to $30.00 after the Racetrack and casino operator reported first quarter revenues fell 1.3% to $612.2 million from $613.5 million a year ago. Net income in the quarter was flat at $40.7 million or 38 cents per diluted share compared to net income of $40.7 million or 46 cents per share, a year ago.

Raytheon Company ((RTN)) increased 3.6% or $1.50 to $42.80 after the defense contractor reported first quarter revenues rose 10% to $5.88 billion from $5.35 billion a year ago. Net income in the quarter rose 14% to $452 million or $1.12 per diluted share compared to net income of $398 million or 92 cents per share, a year ago.

Torchmark Corporation ((TMK)) dropped after it reported net income per share of 91 cents compared to $1.29 a share a year ago. Net insurance underwriting declined 6% to $113.2 million from a year ago.

United Parcel Service, Inc ((UPS)) slid 6.5% or $3.56 to $51.29 after the world''s largest shipping carrier reported first quarter revenues fell 14% to $10.9 billion from $12.7 billion a year ago. Net income in the quarter fell 56% to $401 million or 40 cents per diluted share compared to net income of $906 million or 87 cents per share, a year ago. Total insurance revenues declined 3% to $685.1 million.

The market value of Torchmark''s fixed maturity portfolio was $7.3 billion; $2.2 billion lower than amortized cost of $9.6 billion. The $2.2 billion of net unrealized losses compares to $1.8 billion at December 31, 2008.

Woodward Governor Company ((WGOV)) climbed 10.6% or $1.59 to $16.59 after the maker of energy control systems for aircraft said second quarter revenues rose 9% to $334.7 million from $305.8 million a year ago. Net income in the quarter fell 38% to $18.5 million or 27 cents per diluted share compared to net income of $29.7 million or 43 cents per share, a year ago.

YUM! Brands, Inc ((YUM)) increased 5.0% or $1.61 to $33.70 after the restaurant operator said first quarter revenues fell 8% to $2.22 billion from $2.41 billion a year ago. Net income in the quarter fell 14% to $218 million or 46 cents per diluted share compared to net income of $254 million or 50 cents per share, a year ago.