Chesapeake Falls; Cognizant , Principal Rise

Mayank Mehta
05 May, 2009
New York City

Legg Mason Inc led the decliners in the S&P 500 index of 18.7%. ATS Medical, Inc tops first quarter earnings per share by 2 cents. Chesapeake Energy Corporation posts first quarter $6 billion loss.

[R]12:45PM New York – Legg Mason Inc led the decliners in the S&P 500 index of 18.7%. ATS Medical, Inc tops first quarter earnings per share by 2 cents. Chesapeake Energy Corporation posts first quarter $6 billion loss.[/R]

Of the stocks in S&P 500 index, 198 increased, 297 declined and 5 were unchanged.

Legg Mason Inc led the decliners in the S&P 500 index of 18.7% followed by losses in D.R. Horton, Inc of 8.0%, in Chesapeake Energy Corporation of 7.4%, in AK Steel Holding Corporation of 7.2% and in Archer Daniels Midland Company of 6.9%.

Intercontinental Exchange, Inc led gainers in the S&P 500 index with a rise of 13.0% followed by gains in American International Group, Inc of 12.3%, in Principal Financial Group, Inc of 11.8% and Molson Coors Brewing Company of 10.5%.

Other Movers

Atlas Air Worldwide Holdings, Inc ((AAWW)) rose 9.7% or $2.81 to $31.71 after the provider of global air cargo assets and services reported first quarter revenues fell 34.5% to $244.5 million from $373.0 million a year ago. Net income in the quarter was $23.4 million or $1.12 per diluted share compared to net loss of $5.3 million or 25 cents per share a year ago.

ATS Medical, Inc ((ATSI)) added 9.3% or 25 cents to $2.94 a medical devices manufacturer said first quarter revenues rose 24% to $18.4 million from $14.8 million a year ago. Net loss in the quarter was $1.67 million or 2 cents per diluted share compared to net loss of $2.41 million or 4 cents per share a year ago.

Avon Products, Inc ((AVP)) dropped 7.9% or $2.01 to $23.21 after the world''s largest direct-seller of cosmetic reported first quarter revenues fell 13% to $2.2 billion from $2.5 billion a year ago. Net income in the quarter fell 36% to $117.3 million or 27 cents per diluted share compared to net income of $184.7 million or 43 cents per share a year ago.

Banco Bradesco SA ((BBD)) rose 6.8% or 86 cents to $13.48 after the Brazilian bank said first quarter net interest income rose 26% to R$7.7 billion from R$6.1 billion a year ago. Net income in the quarter fell 9.6% to R$1.72 billion or R$2.42 per diluted share compared to net income of R$1.91 billion or R$2.41 per share a year ago.

Bill Barrett Corporation ((BBG)) added 5.6% or $1.65 to $31.09 after the natural gas and crude oil company reported first quarter revenues fell 3% to $144.7 million from $149.2 million a year ago. Net income in the quarter fell 13.7% to $26.4 million or 59 cents per diluted share compared to net income of $30.6 million or 68 cents per share a year ago.

Chesapeake Energy Corporation ((CHK)) fell 6.0% or $1.37 to $21.45 after the nation''s largest gas producers said first quarter revenues rose 25% to $2.0 billion from $1.6 billion a year ago. Net loss in the quarter was $5.7 billion or $9.63 per diluted share compared to net loss of $142 million or 29 cents per share a year ago.

Cognizant Technology Solutions Corporation ((CTSH)) climbed 5.0% or $1.30 to $27.20 after the IT service provider reported first quarter revenues rose 16% to $745.9 million from $643.1 million a year ago. Net income in the quarter rose 11% to $113.1 million or 38 cents per diluted share compared to net income of $101.9 million or 34 cents per share a year ago.

Constellation Energy Group Inc ((CEG)) slid 3.9% or 99 cents to $24.24 an energy company reported first quarter revenues fell 10.6% to $4.3 billion from $4.81 billion a year ago. Net loss in the quarter was $123.5 million or 62 cents per diluted share compared to net income of $145.7 million or 81 cents per share a year ago.
EOG Resources, Inc ((EOG)) surged 9.0% or $5.96 to $72.04 after the oil and gas exploration company said first quarter revenues rose 2% to $1.16 billion from $1.13 billion a year ago. Net income in the quarter fell 34% to $158.7 million or 63 cents per diluted share compared to net income of $240.5 million or 96 cents per share a year ago.

FreightCar America, Inc ((RAIL)) lost 10.4% or $2.11 to $18.12 after the manufacturer of aluminum-bodied railcars reported first quarter revenues fell 58.3% to $39.6 million from $95.1 million a year ago. Net income in the quarter was $2.6 million or 22 cents per diluted share compared to net loss of $10.2 million or 87 cents per share a year ago.

Fundtech Ltd ((FNDT)) jumped 3.5% or 31 cents to $8.95 after the provider of software and services to banks worldwide reported first quarter revenues fell 7% to $26.1 million from $28.1 million a year ago. Net loss in the quarter was $0.9 million or 6 cents per diluted share compared to net income of $0.3 million or 2 cents per share a year ago.

Great Wolf Resorts, Inc ((WOLF)) lost 14.7% or 53 cents to $3.07 after the indoor water parks operator reported first quarter revenues fell 3% to $62.3 million from $64.2 million a year ago. Net loss in the quarter was $5.6 million or 18 cents per diluted share compared to net loss of $2.3 million or 8 cents per share a year ago.

IntercontinentalExchange, Inc ((ICE)) rose 13.1% or $11.87 to $102.30 after the second-biggest U.S. derivatives exchange company reported first quarter revenues rose 12% to $232 million from $207 million a year ago. Net income in the quarter fell 22% to $72.2 million or 98 cents per diluted share compared to net income of $92.3 million or $1.29 per share a year ago.

Kraft Foods Inc ((KFT)) rose 6.4% or $1.57 to $25.83 after the food processor reported first quarter revenues fell 6.5% to $9.4 billion from $10.05 billion a year ago. Net income in the quarter rose 10% to $660 million or 45 cents per diluted share compared to net income of $599 million or 39 cents per share a year ago.

Legg Mason, Inc ((LM)) declined 14.6% or $3.29 to $19.24 after the global asset manager reported fourth quarter revenues fell 42% to $617.2 million from $1.07 billion a year ago. Net loss in the quarter was $325.1 million or $2.29 per diluted share compared to net loss of $255.5 million or $1.81 per share a year ago.

MannKind Corporation ((MNKD)) jumped 3.4% or 14 cents to $4.15 after the biotechnology company said no revenues for the first quarter March 31, 2009 compared to $20,000 a year ago quarter. Net loss in the quarter was $59.4 million or 58 cents per diluted share compared to net loss of $71.4 million or 70 cents per share a year ago.

Radian Group Inc ((RDN)) surged 13.1% or 29 cents to $2.49 after the U.S. mortgage insurer reported first quarter revenues fell 99% to $11.5 million from $964.4 million a year ago. Net loss in the quarter was $217.4 million or $2.69 per diluted share compared to net income of $195.6 million or $2.44 per share a year ago.

Ternium S.A ((TX)) climbed 6.5% or 58 cents to $9.49 after the Argentine steel maker said first quarter sales fell 40% to $1.17 billion from $1.94 billion a year ago. Net loss in the quarter was $93.2 million or 46 cents per ADS compared to net income of $422.1 million or $2.11 per ADS a year ago.

Principal Financial Group, Inc ((PFG)) increased 9.7% or $1.50 to $16.93 after the insurance, retirement and financial services provider said first quarter sales fell 12% to $2.2 billion from $2.5 billion a year ago. Net income in the quarter fell 35% to $112.8 million or 43 cents per diluted share compared to net income of $174.2 million or 67 cents per share a year ago.

Vulcan Materials Company ((VMC)) added 11.5% or $5.24 to $50.50 after the largest U.S. producer of construction aggregates said first quarter sales fell 26% to $567.9 million from $771.8 million a year ago. Net loss in the quarter was $32.8 million or 30 cents per diluted share compared to net income of $13.9 million or 13 cents per share a year ago.