U.S. Steel, Seaspan, Fresh Del Monte Fall

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

Jacobs Engineering Group Inc led the decliners in the S&P 500 index of 7.9%. Baidu, Inc posts higher first quarter profit. Rent-A-Center, Inc first quarter profits grow 25%. United States Steel Corporation reported first quarter net loss.

[R]11:55AM New York – Jacobs Engineering Group Inc led the decliners in the S&P 500 index of 7.9%. Baidu, Inc posts higher first quarter profit. Rent-A-Center, Inc first quarter profits grow 25%. United States Steel Corporation reported first quarter net loss.[/R]

Of the stocks in S&P 500 index, 155 increased, 341 declined and 4 were unchanged.

Jacobs Engineering Group Inc led the decliners in the S&P 500 index of 7.9% followed by losses in Bank of America Corporation of 7.8%, in Marshall & Ilsley Corporation of 7.6%, in Corning Incorporated of 6.8% and in Masco Corporation of 6.6%.

Waters corporation led gainers in the S&P 500 index with a rise of 15.8% followed by gains in Office Depot, Inc of 15.4%, in Southwestern Energy Company of 10.3% and Tellabs, Inc of 8.0%.

Other Movers

A. M. Castle & Co ((CAS)) fell 18.7% or $2.16 to $9.35 a specialty metals and plastics distributor reported first quarter sales fell 36% to $252.2 million from $393.5 million a year ago. Net income in the quarter fell 96.4% to $0.5 million or 2 cents per diluted share compared to net income of $13.8 million or 62 cents per share a year ago.

AGCO Corporation ((AG)) dropped 4.7% or $1.15 to $23.10 after the worldwide manufacturer and distributor of agricultural equipment reported first quarter sales fell 11% to $1.6 billion from $1.8 billion a year ago. Net income in the quarter fell 43% to $33.7 million or $36 cents per diluted share compared to net income of $58.8 million or 59 cents per share a year ago.

Aaron''s Inc ((AAN)) added 8.0% or $2.32 to $31.00 after the Atlanta-based furniture and electronics rentals retailer said first quarter sales rose 15% to $474.0 million from $412.7 million a year ago. Net income in the quarter rose 50% to $35.2 million or 65 cents per diluted share compared to net income of $24.8 million or 46 cents per share a year ago.

Avery Dennison Corporation ((AVY)) slid 6.0% or $1.78 to $27.67 after the developer of identification and decorative solutions for businesses and consumers worldwide reported first quarter sales fell 13.3% to $1.43 billion from $1.65 billion a year ago. Net loss in the quarter was $46.2 million or 46 cents per diluted share compared to net income of $68.4 million or 69 cents per share a year ago.

Baidu, Inc ((BIDU)) rose 3.3% or $7.32 to $224.86 after the China''s most popular search engine said first quarter sales rose 41% to Rmb 810.7 million from Rmb 574.4 million a year ago. Net income in the quarter rose 23.5% to Rmb 181.1 million or Rmb 5.22 per diluted share compared to net income of Rmb 146.6 million or Rmb 4.22 per share a year ago.

Ceradyne, Inc ((CRDN)) lost 7.9% or $1.50 to $17.56 a defense contractor reported first quarter sales fell 47% to $99.8 million from $188.5 million a year ago. Net income in the quarter fell 98% to $0.7 million or 3 cents per diluted share compared to net income of $32.4 million or $1.18 per share a year ago.

Deutsche Bank AG ((DB)) plunged 5.5% or $3.08 to $52.40 after the Germany''s biggest bank reported first quarter revenues rose 57% to €7.2 billion from €4.6 billion a year ago. Net income in the quarter was €1.2 billion or €1.92 per diluted share compared to net loss of €141 million or €0.27 per share a year ago.

FPL Group, Inc ((FPL)) rose 4.0% or $2.21 to $53.47 after the electric utility reported first quarter sales rose 8.2% to $3.71 billion from $3.43 billion a year ago. Net income in the quarter rose 46.2% to $364 million or 90 cents per diluted share compared to net income of $249 million or 62 cents per share a year ago.

Fresh Del Monte Produce Inc ((FDP)) plunged 10.3% or $1.76 to $15.24 after the seller of prepared and fresh fruits and vegetables reported first quarter sales fell 2% to $879.7 million from $894.9 million a year ago. Net income in the quarter fell 45% to $34.9 million or 55 cents per diluted share compared to net income of $63.6 million or $1.00 per share a year ago.

Group 1 Automotive, Inc ((GPI)) added 3.6% or 66 cents to $18.77 an operator in automotive retail industry reported first quarter sales fell 32.2% to $1.0 billion from $1.50 billion a year ago. Net income in the quarter fell 45% to $8.4 million or 37 cents per diluted share compared to net income of $15.2 million or 67 cents per share a year ago.

Hexcel Corporation ((HXL)) climbed 3.0% or 24 cents to $8.74 an aerospace products maker said first quarter revenues fell 11% to $307.3 million from $344.5 million a year ago. Net income in the quarter rose 1% to $23.4 million or 24 cents per diluted share compared to net income of $23.2 million or 24 cents per share a year ago.

Hospira, Inc ((HSP)) rose 5.0% or $1.59 to $32.93 after the specialty pharmaceutical and medication delivery company reported first quarter sales fell 3.3% to $859.7 million from $888.7 million a year ago. Net income in the quarter rose 153% to $165.5 million or $1.03 per diluted share compared to net income of $65.4 million or 41 cents per share a year ago.

Level 3 Communications, Inc ((LVLT)) fell 7.0% or 8 cents to $1.05 after the telecommunications service provider reported first quarter revenues fell 10% to $980 million from $1.09 billion a year ago. Net loss in the quarter was $132 million or 8 cents per diluted share compared to net loss of $190 million or 12 cents per share a year ago.

Potlatch Corporation ((PCH)) added 4.2% or $1.29 to $28.87 after the timber and processor and wood products seller reported first quarter revenues rose 15% to $129.6 million from $112.6 million a year ago. Net income in the quarter rose 141% to $24.8 million or 62 cents per diluted share compared to net income of $10.3 million or 26 cents per share a year ago.

Pre-Paid Legal Services, Inc ((PPD)) jumped 3.0% or 89 cents to $34.06 after first quarter revenues fell 2.7% to $113.1 million from $116.2 million a year ago. Net income in the quarter rose 7% to $17.1 million or $1.52 per diluted share compared to net income of $15.9 million or $1.29 per share a year ago.

Rent-A-Center, Inc ((RCII)) plunged 4.7% or $1.04 to $20.65 after the rent-to-own furnishings company said first quarter revenues fell 4% to $728.2 million from $756.6 million a year ago. Net income in the quarter rose 25% to $45.4 million or 68 cents per diluted share compared to net income of $36.4 million or 54 cents per share a year ago.

Seaspan Corporation ((SSW)) lost 29.0% or $3.14 to $7.66 after the company in the business of owning and chartering containerships reported first quarter revenues rose 16.4% to $63.1 million from $54.2 million a year ago. Net income in the quarter was $24.2 million or 31 cents per diluted share compared to net loss of $37.7 million or 65 cents per share a year ago.

Southwestern Energy Company ((SWN)) dropped 3.0% or 96 cents to $33.47 after the oil and gas company said first quarter revenues rose 3% to $540.8 million from $524.1 million a year ago. Net loss in the quarter was $432.8 million or $1.26 per diluted share compared to net income of $109 million or 31 cents per share a year ago.

United States Steel Corporation ((X)) lost 6.4% or $1.80 to $25.92 an integrated steel producer reported first quarter sales fell 47% to $2.75 billion from $5.2 billion a year ago. Net loss in the quarter was $439 million or $3.78 per diluted share compared to net income of $235 million or $1.98 per share a year ago.

Veeco Instruments Inc ((VECO)) slid 5.7% or 39 cents to $6.42 a process equipment maker said first quarter revenues fell 38.6% to $62.8 million from $102.3 million a year ago. Net loss in the quarter was $20.9 million or 66 cents per diluted share compared to net loss of $2.3 million or 7 cents per share a year ago.

XL Capital Ltd ((XL)) lost 5.3% or 48 cents to $8.48 after the Bermuda-based insurer said first quarter revenues fell 30% to $1.53 billion from $2.17 billion a year ago. Net income in the quarter fell 16% to $178.4 million or 53 cents per diluted share compared to net income of $211.9 million or $1.19 per share a year ago.