SunPower, Honeywell Fall, Schlumberger Rises

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

Marshall & Ilsley led decliners in the S&P 500 index of 7.6%. American Express Company first quarter profit drops 63%. Delta Apparel, Inc turns to profit in third quarter. Microsoft Corporation third quarter profits fall 32%.

[R]2:50PM New York – Marshall & Ilsley led decliners in the S&P 500 index of 7.6%. American Express Company first quarter profit drops 63%. Delta Apparel, Inc turns to profit in third quarter. Microsoft Corporation third quarter profits fall 32%.[/R]

Of the stocks in S&P 500 index, 306 increased, 184 declined and 10 were unchanged.

Marshall & Ilsley led the decliners in the S&P 500 index of 7.6% followed by losses in CIT Group Inc of 7.1%, in Honeywell International Inc of 6.6%, in Regions Financial Corporation of 5.6% and in Bed Bath & Beyond Inc of 4.3%.

Ford Motor Company led gainers in the S&P 500 index with a rise of 17.1% followed by gains in American Express Company of 14.1%, in Eastman Chemical Company of 13.3% and Lennar Corporation of 7.9%.

Other Movers

Amazon.com, Inc ((AMZN)) added 3.0% or $2.17 to $82.78 after the online retailer said first quarter revenues rose 18% to $4.89 billion from $4.13 billion a year ago. Net income in the quarter rose 24% to $177 million or 41 cents per diluted share compared to net income of $143 million or 34 cents per share, a year ago.

American Express Company ((AXP)) rose 6.5% or $1.38 to $22.35 after the credit card lender said first quarter revenues fell 18% to $5.9 billion from $7.2 billion a year ago. Net income in the quarter fell 63% to $361 million or 31 cents per diluted share compared to net income of $985 million or 85 cents per share, a year ago.

The Cheesecake Factory Incorporated ((CAKE)) surged 12.6% or $1.88 to $16.80 after the casual dining chain said first quarter revenues fell 0.3% to $392.8 million from $393.8 million a year ago. Net income in the quarter fell 30% to $10 million or 17 cents per diluted share compared to net income of $14.3 million or 21 cents per share, a year ago.

Developers Diversified Realty Corporation ((DDR)) jumped 23.6% or 67 cents to $3.50 after the owner, manager and developer of market-dominant shopping centers said first quarter revenues fell 7% to $219.8 million from $236.1 million a year ago. Net income in the quarter rose 159% to $76.8 million or 59 cents per diluted share compared to net income of $29.6 million or 25 cents per share, a year ago.

Delta Apparel, Inc ((DLA)) added 6.6% or 41 cents to $6.61 after an apparel design, manufacturing, sourcing and marketing company reported first quarter revenues rose 13.7% to $85.7 million from $75.4 million a year ago. Net income in the quarter was $1.2 million or 14 cents per diluted share compared to net loss of $0.4 million or 5 cents per share, a year ago.

Ford Motor Company ((F)) rose 12.6% or 57 cents to $5.06 after the second-largest U.S. automaker reported first quarter revenues fell 37% to $24.8 billion from $39.2 billion a year ago. Net loss in the quarter was $1.4 billion or 60 cents per diluted share compared to net income of $70 million or 3 cents per share, a year ago.

Honeywell International Inc ((HON)) fell 3.9% or $1.27 to $31.11 after the diversified technology and manufacturing company reported first quarter revenues fell 14.6% to $7.6 billion from $8.9 billion a year ago. Net income in the quarter fell 38% to $397 million or 54 cents per diluted share compared to net income of $643 million or 85 cents per share, a year ago.

Interactive Brokers Group, Inc ((IBKR)) lost 12.9% or $2.14 to $14.44 a derivatives trader said first quarter revenues fell 44% to $296.3 million from $528.4 million a year ago. Net income in the quarter fell 54% to $12.6 million or 30 cents per diluted share compared to net income of $27.2 million or 66 cents per share, a year ago.

Microsoft Corporation ((MSFT)) climbed 3.0% or $58 cents to $19.50 after the world''s largest software maker said third quarter revenues fell 6% to $13.65 billion from $14.45 billion a year ago. Net income in the quarter fell 32% to $2.98 billion or 33 cents per diluted share compared to net income of $4.39 billion or 47 cents per share, a year ago.

Mohawk Industries, Inc ((MHK)) increased 7.0% or $2.68 to $40.50 after the floor covering maker said first quarter revenues fell 30% to $1.21 billion from $1.74 billion a year ago. Net loss in the quarter was $105.9 million or $1.55 per diluted share compared to net income of $65.4 million or 95 cents per share, a year ago.

Netflix, Inc ((NFLX)) slid 6.5% or $2.97 to $42.29 a provider of online movie rental subscription service said first quarter revenues rose 21% to $394.1 million from $326.2 million a year ago. Net income in the quarter rose 68% to $22.4 million or 37 cents per diluted share compared to net income of $13.3 million or 21 cents per share, a year ago.

Saia Inc ((SAIA)) lost 12.8% or $1.71 to $11.62 after the trucking transportation company net loss increased on lower revenue in the first quarter which is typically the weakest period of the year. Revenue dropped 17% to $206.1 million.

Schlumberger Limited ((SLB)) climbed 8.4% or $3.94 to $50.45 after the world''s largest oilfield services company reported first quarter revenues fell 5% to $6 billion from $6.29 billion a year ago. Net income in the quarter fell 30% to $938.5 million or 78 cents per diluted share compared to net income of $1.34 billion or $1.09 per share, a year ago.

The Standard Register Company ((SR)) decreased 6.8% or 41 cents to $5.54 a provider of custom-printed documents and related services said first quarter revenues fell 15.7% to $174.6 million from $207.2 million a year ago. Net loss in the quarter was $11 million or 38 cents per diluted share compared to net income of $2.5 million or 9 cents per share, a year ago.

SunPower Corporation ((SPWR)) reported first quarter 2009 sales declined to $214 million from $274 million a year ago quarter and dropped from $401 million in the fourth quarter 2008. The solar technology firm reported quarterly loss of $4.78 million or 6 cents a share compared to $12 million of net income or 15 cents a share a year ago quarter.

The company offered 2009 sales outlook between $1.3 billion and $1.7 billion and earnings per share between 25 cents and 75 cents.

SunPower Corporation ((SPWR)) declined 10 cents to $25.83 in the early trading.