Akamai, First Solar, Visa Surge

Mayank Mehta
30 Apr, 2009
New York City

Assurant, Inc led the decliners in the S&P 500 index of 10.3%. Akamai Technologies, Inc first quarter profit virtually flat. Alliance Healthcare Services, Inc first quarter revenue hits $132 million. Owens-Illinois, Inc first quarter profit plunges, sales decline.

[R]3:20PM New York – Assurant, Inc led the decliners in the S&P 500 index of 10.3%. Akamai Technologies, Inc first quarter profit was flat. Alliance Healthcare Services, Inc first quarter revenue hits $132 million. Owens-Illinois, Inc first quarter profit plunges, sales decline.[/R]

Of the stocks in S&P 500 index, 431 increased, 68 declined and 1 were unchanged.

Assurant, Inc led the decliners in the S&P 500 index of 10.3% followed by losses in JDS Uniphase Corporation of 10.2%, in Varian Medical Systems, Inc of 6.5%, in Safeway Inc of 6.3% and in The Travelers Companies, Inc of 4.0%.

Owens-Illinois, Inc led gainers in the S&P 500 index with a rise of 29.8% followed by gains in Expedia, Inc of 20.3%, in The Dow Chemical Company of 19.4% and Newell Rubbermaid Inc of 17.4%.

Other Movers

Akamai Technologies, Inc ((AKAM)) added 5.0% or $1.02 to $21.08 after the internet traffic-management company said first quarter sales rose 12.5% $210.4 million from $187 million a year ago. Net income in the quarter rose 0.5% to $37.1 million or 20 cents per diluted share compared to net income of $36.9 million or 20 cents per share a year ago.

Alliance Healthcare Services, Inc ((AIQ)) rose 7.3% or 60 cents to $8.73 a national provider of outpatient diagnostic imaging and radiation therapy services said first quarter sales rose 10.6% $131.8 million from $119.1 million a year ago. Net income in the quarter rose 26.5% to $4.3 million or 8 cents per diluted share compared to net income of $3.4 million or 7 cents per share a year ago.

Amerisafe, Inc ((AMSF)) climbed 5.9% or 88 cents to $15.74 after the specialty provider of high hazard workers' compensation insurance said first quarter sales fell 5.8% $77.5 million from $82.3 million a year ago. Net income in the quarter fell 7% to $11.1 million or 54 cents per diluted share compared to net income of $11.9 million or 59 cents per share a year ago.

Amkor Technology, Inc ((AMKR)) jumped 14.5% or 59 cents to $4.65 after the provider of chip packaging and testing services said first quarter sales fell 44% $388.8 million from $699.5 million a year ago. Net loss in the quarter was $22 million or 12 cents per diluted share compared to net income of $72 million or 36 cents per share a year ago.

Assurant, Inc ((AIZ)) plunged 3.7% or $1.04 to $26.99 after the insurance products and related services provider said first quarter sales fell 4% $2.09 billion from $2.18 billion a year ago. Net income in the quarter fell 57% to $80.6 million or 68 cents per diluted share compared to net income of $186.8 million or $1.56 per share a year ago.

Ashland Inc ((ASH)) rose 11.6% or $2.25 to $19.25 after the global specialty chemicals company reported second quarter revenues fell 3.4% to $1.99 billion from $2.06 billion a year ago. Net income in the quarter fell 33.3% to $48 million or 65 cents per diluted share compared to net income of $72 million or $1.13 per share a year ago.

BioScrip, Inc ((BIOS)) increased 11.4% or 32 cents to $3.13 after the specialty pharmaceutical healthcare organization reported first quarter revenues fell 0.5% to $325.7 million from $327.5 million a year ago. Net income in the quarter was $3.3 million or 8 cents per diluted share compared to net loss of $0.5 million or 1 cent per share a year ago.

BorgWarner Inc ((BWA)) added 7.8% or $2.18 to $30.08 after the auto parts maker reported first quarter revenues fell 45% to $819.5 million from $1.5 billion a year ago. Net loss in the quarter was $6.3 million or 6 cents per diluted share compared to net income of $88.7 million or 75 cents per share a year ago.

Cabot Corporation ((CBT)) surged 6.4% or 92 cents to $15.12 a global performance materials company said second quarter sales fell 40% $470 million from $786 million a year ago. Net loss in the quarter was $56 million or 90 cents per diluted share compared to net income of $11 million or 17 cents per share a year ago.

CARBO Ceramics Inc ((CRR)) plunged 8.0% or $2.97 to $33.75 after the world's largest supplier of ceramic proppant reported first quarter revenues rose 0.2% to $90.6 million from $ 90.4 million a year ago. Net income rose 15.5% to $16.4 million or 70 cents per diluted share compared to net income of $14.2 million or 58 cents per share a year ago.

Canon Inc ((CAJ)) rose 3.6% or $1.08 to $30.71 after the world’s largest camera maker reported first quarter sales fell 31.8% to ¥687 billion from ¥1.01 trillion a year ago. Net profit fell 83.4% to ¥17.7 billion or ¥121.85 per diluted share compared to net profit of ¥107 billion or ¥157.59 per share a year ago.

CDI Corp ((CDI)) jumped 3.8% or 48 cents to $12.82 after the professional staffing and outsourcing company reported first quarter revenues fell 22% to $228.7 million from $293.9 million a year ago. Net loss was $0.9 million or 5 cents per diluted share compared to net income of $7.9 million or 39 cents per share a year ago.

Citrix Systems, Inc ((CTXS)) added 5.0% or $1.30 to $26.95 after the virtualization and infrastructure software company said first quarter sales fell 2% $369.1 million from $377 million a year ago. Net income in the quarter fell 80% to $6.9 million or 4 cents per diluted share compared to net income of $34.4 million or 18 cents per share a year ago.

CIGNA Corporation ((CI)) lost 8.5% or $1.77 to $19.00 after the health insurer reported first quarter revenues fell 4% to $4.77 billion from $4.57 billion a year ago. Net income rose 258% to $208 million or 76 cents per diluted share compared to net income of $58 million or 20 cents per share a year ago.

Covance Inc ((CVD)) rose 4.3% or $1.66 to $40.29 after the drug development services company said first quarter sales rose 8% $468.4 million from $434 million a year ago. Net income in the quarter fell 18% to $40.3 million or 63 cents per diluted share compared to net income of $49.1 million or 76 cents per share a year ago.

Dollar Financial Corp ((DLLR)) dropped 20.3% or $2.10 to $8.20 after the diversified financial services company said third quarter revenues fell 21% $118.2 million from $149.3 million a year ago. Net income in the quarter fell 43% to $7.9 million or 33 cents per diluted share compared to net income of $13.8 million or 56 cent per share a year ago.

Dominion Resources, Inc ((D)) climbed 4.0% or $1.19 to $30.80 after the producer and transporter of energy reported first quarter revenues rose 9% to $4.8 billion from $4.4 billion a year ago. Net income fell 63.5% to $248 million or 42 cents per diluted share compared to net income of $680 million or $1.18 per share a year ago.

Dover Downs Gaming & Entertainment, Inc ((DDE)) surged 14.1% or 56 cents to $4.46 after the gaming and entertainment company reported first quarter revenues fell 1.2% to $59.1 million from $59.8 million a year ago. Net income fell 19% to $4.3 million or 14 cents per diluted share compared to net income of $5.3 million or 17 cents per share a year ago.

drugstore.com, Inc ((DSCM)) rose 8.5% or 11 cents to $1.40 an online provider of health, beauty, vision, and pharmacy products said first quarter sales rose 6% $98.3 million from $92.6 million a year ago. Net income in the quarter was $1.3 million or 1 cent per diluted share compared to net loss of $2.7 million or 3 cents per share a year ago.

Dresser-Rand Group Inc ((DRC)) dropped 4.5% or $1.19 to $25.00 after the maker of equipment for the oil and gas industry reported first quarter revenues rose 40% to $508.9 million from $363.8 million a year ago. Net income rose 27% to $34.5 million or 42 cents per diluted share compared to net income of $27.2 million or 32 cents per share a year ago.

Eastman Kodak Company ((EK)) slid 4.9% or 18 cents to $3.46 after the photography products maker reported first quarter sales fell 29% to $1.48 billion from $2.09 billion a year ago. Net loss was $353 million or $1.32 per diluted share compared to net loss of $115 million or 40 cents per share a year ago.

Expedia, Inc ((EXPE)) rose 23.8% or $2.52 to $13.13 an online travel agency reported first quarter revenues fell 8% to $636 million from $688 million a year ago. Net income fell 23% to $39.4 million or 14 cents per diluted share compared to net income of $51.3 million or 17 cents per share a year ago.

First Solar, Inc ((FSLR)) surged 24% or $35.66 to $187.33 after it reported first quarter revenue increased to $418.2 million from $196.9 million from a year ago quarter and declined from $433.70 million in the fourth quarter. Net income increased to $164.60 million or $1.99 a share from $46.6 million or 57 cents a share or $132.8 million or $1.61 a share.

Flowserve Corporation ((FLS)) added 4.1% or $2.72 to $67.60 after the pump and valve maker said first quarter revenues rose 3% $1.02 billion from $993.3 million a year ago. Net income in the quarter rose 5% to $92.3 million or $1.64 per diluted share compared to net income of $88 million or $1.52 per share a year ago.

Genco Shipping & Trading Limited ((GNK)) surged 5.2% or 88 cents to $17.52 after the dry bulk carrier said first quarter revenues rose 5% $96.7 million from $91.7 million a year ago. Net income in the quarter fell 44% to $41.2 million or $1.32 per diluted share compared to net income of $74 million or $2.56 per share a year ago.

Iron Mountain Incorporated ((IRM)) increased 5.9% or $1.60 to $28.67 after the records management company reported first quarter revenues fell 3.5% to $723 million from $749 million a year ago. Net income fell 14% to $29 million or 14 cents per diluted share compared to net income of $33 million or 16 cents per share a year ago.

Kellogg Company ((K)) added 8.2% or $3.26 to $42.81 after the cereal and snack company reported first quarter revenues fell 3% to $3.17 billion from $3.26 billion a year ago. Net income rose 2% to $321 million or 84 cents per diluted share compared to net income of $315 million or 81 cents per share a year ago.

LaBarge, Inc ((LB)) surged 6.6% or 50 cents to $8.00 after the provider of electronics to technology-driven companies reported first quarter revenues fell 4.2% to $72.2 million from $75.4 million a year ago. Net income fell 11.7% to $3.8 million or 24 cents per diluted share compared to net income of $4.3 million or 27 cents per share a year ago.

LoopNet, Inc ((LOOP)) increased 3.0% or 25 cents to $8.64 an online marketplace for commercial real estate said first quarter revenues fell 2.4% $20.1 million from $20.6 million a year ago. Net income in the quarter fell 43% to $2.8 million or 8 cents per diluted share compared to net income of $4.9 million or 12 cents per share a year ago.

Owens-Illinois, Inc ((OI)) rose 11.3% or $2.09 to $20.55 after the manufacturer of glass containers said first quarter revenues fell 22.4% $1.52 billion from $1.96 billion a year ago. Net income in the quarter fell 75% to $45.1 million or 27 cents per diluted share compared to net income of $178.1 million or $1.04 per share a year ago.

Visa Inc ((V)) added 84 cents or 1.3% to $64.35 after it reported fiscal second quarter revenue increased to $1.65 billion from $1.45 billion and net income increased to $536 million from $314 million. Earnings per basic Class A common share increased to 71 cents from 39 cents. Though slightly negative in the U.S., payments volume continued to grow on a constant dollar basis in all other regions globally, noted Visa in the earnings release.

Walter Energy, Inc ((WLT)) jumped 6.6% or $1.61 to $25.92 after the producer and exporter of metallurgical coal for the global steel industry said first quarter revenues rose 17.2% $343.0 million from $292.6 million a year ago. Net income in the quarter was $73.1 million or $1.36 per diluted share compared to net income of $0.5 million or 1 cent per share a year ago.

Willis Group Holdings Limited ((WSH)) surged 7.7% or $1.86 to $25.99 after the global insurance broker said first quarter revenues rose 17% $930 million from $795 million a year ago. Net income in the quarter rose 16% to $193 million or $1.16 per diluted share compared to net income of $166 million or $1.16 per share a year ago.