Capital One, Prudential, Andersons Surge

Mayank Mehta
07 May, 2009
New York City

Prudential Financial led gainers in the S&P 500 index with a rise of 19.2%. AAON, Inc first quarter profit increase beats estimates. Churchill Downs first quarter swings to loss. Cornerstone Therapeutics first quarter profit surges.

[R]11:30AM New York - Prudential Financial led gainers in the S&P 500 index with a rise of 19.2%. AAON, Inc first quarter profit increase beats estimates. Churchill Downs first quarter swings to loss. Cornerstone Therapeutics first quarter profit surges.[/R]

Of the stocks in S&P 500 index, 290 increased, 204 declined and 6 were unchanged.

Symantec Corporation led the decliners in the S&P 500 index of 11.8% followed by losses in Expeditors International of Washington, Inc of 7.3%, in The Nasdaq OMX Group, Inc of 6.8%, in Limited Brands, Inc of 6.0% and in Simon Property Group, Inc of 5.5%.

Prudential Financial, Inc led gainers in the S&P 500 index with a rise of 19.2% followed by gains in Fifth Third Bancorp of 19.1%, in Capital One Financial Corporation of 18.7% and Genworth Financial, Inc of 18.3%.

Credit card lenders and banks rallied. American Express ((AXP)) increased in the early morning and then traded lower to $27. Capital One ((COF)) surged 20% or 44.66 to $27.00 after Goldman Sachs recommended the stock and Bank of America ((BAC)) increased 10.3% or $1.30 to $13.99 after Morgan Stanley and Robert W. Baird & Co. recommended the bank.

Other Movers

AAON, Inc ((AAON)) added 5.9% or $1.15 to $20.54 after the air-conditioning and heating equipment maker said first quarter sales fell 2% to $64.0 million from $65.5 million a year ago. Net income in the quarter rose 5% to $6.7 million or 39 cents per diluted share compared to net income of $6.4 million or 35 cents per share a year ago.

The Andersons, Inc ((ANDE)) increased 13% or $2.39 after it reported 37% decline in earnings but exceed analysts’ expectations. The grain and plant nutrients distributor and rail car lessor reported first quarter earnings of $5 million or 27 cents a share compared to $7.8 million or 42 cents a share. Revenues declined 2.4% to $697 million from a year ago quarter.

Blackboard Inc ((BBBB)) declined 10.4% or $3.43 to $29.50 after the education-software provider said first quarter sales rose 26% to $86.4 million from $68.5 million a year ago. Net loss in the quarter was $37,000 or break even per diluted share compared to net loss of $4.4 million or 15 cents per share a year ago.

California Micro Devices Corporation ((CAMD)) dropped 5.1% or 16 cents to $2.94 after the supplier of application specific analog and mixed signal semiconductor products said first quarter revenues fell 38.7% to $9.2 million from $15.0 million a year ago. Net loss in the quarter was $3.4 million or 15 cents per diluted share compared to net loss of $1.15 million or 5 cents per share a year ago.

Churchill Downs Incorporated ((CHDN)) slid 3.7% or $1.26 to $32.68 an owner and operator of pari-mutuel wagering properties and businesses said first quarter revenues rose 12% to $73.7 million from $65.7 million a year ago. Net loss in the quarter was $4.8 million or 36 cents per diluted share compared to net income of $0.7 million or 5 cents per share a year ago.

Cisco Systems, Inc ((CSCO)) gained 2.5% or 49 cents to $20.10 after the world''s largest maker of computer networking gear said third quarter revenues fell 17% to $8.2 billion from $9.8 billion a year ago. Net income in the quarter fell 28% to $1.3 billion or 23 cents per diluted share compared to net income of $1.8 billion or 29 cents per share a year ago.

CapitalSource Inc ((CSE)) added 7.6% or 30 cents to $4.20 after the commercial lender reported first quarter total interest income fell 28% to $221.7 million from $308.3 million a year ago. Net loss in the quarter was $104 million or 36 cents per diluted share compared to net income of $5.2 million or 2 cents per share a year ago.

Cornerstone Therapeutics Inc ((CRTX)) rose 6.6% or 50 cents to $8.00 after the specialty pharmaceutical company first quarter revenues rose 225% to $30.7 million from $9.4 million a year ago. Net profit in the quarter rose 803% to $6.32 million or 48 cents per diluted share compared to net income of $0.7 million or 10 cents per share a year ago.

DURECT Corporation ((DRRX)) fell 8.7% or 20 cents to $2.10 after the specialty pharmaceutical company said first quarter revenues fell 3% to $6.2 million from $6.4 million a year ago. Net loss in the quarter was $8.7 million or 11 cents per diluted share compared to net loss of $7.8 million or 11 cents per share a year ago.

Eagle Bulk Shipping Inc ((EGLE)) lost 4.5% or 42 cents to $8.76 after the bulk ocean cargo carrier said first quarter revenues rose 53% to $56 million from $36.7 million a year ago. Net income in the quarter rose 20% to $17.2 million or 37 cents per diluted share compared to net income of $14.3 million or 31 cents per share a year ago.

General Motors Corporation ((GM)) gained 4.2% or 7 cents to $1.73 after the world''s largest automakers said first quarter revenues fell 47% to $22.4 billion from $42.4 billion a year ago. Net loss in the quarter was $6 billion or $9.78 per diluted share compared to net loss of $3.3 billion or $5.80 per share a year ago.

Knology, Inc ((KNOL)) gained 7.6% or 59 cents to $8.29 after the provider of interactive communications and entertainment services reported first quarter revenues rose 3.3% to $104.7 million from $101.3 million a year ago. Net loss in the quarter was $2.3 million or 6 cents per diluted share compared to net loss of $3.2 million or 9 cents per share a year ago.

K-Swiss Inc ((KSWS)) dropped 5.7% or 61 cents to $10.00 after the athletic footwear maker reported first quarter revenues fell 24.8% to $74.0 million from $98.4 million a year ago. Net loss in the quarter was $1.1 million or 3 cents per diluted share compared to net profit of $7.1 million or 20 cents per share a year ago.

Local.com Corporation ((LOCM)) added 12.1% or 42 cents to $3.87 after the local search site and network company said first quarter revenues rose 26% to $11.1 million from $8.8 million a year ago. Net loss in the quarter was $2.9 million or 20 cents per diluted share compared to net loss of $2.8 million or 19 cents per share a year ago.

MetroPCS Communications, Inc ((PCS)) lost 6.4% or $1.19 to $17.25 after the provider of wireless communication services reported first quarter revenues rose 17% to $795 million from $662 million a year ago. Net income in the quarter rose 10% to $44 million or 12 cents per diluted share compared to net income of $40 million or 11 cents per share a year ago.

OM Group, Inc ((OMG)) jumped 3.4% or $1.01 to $30.00 after the maker of metal-based specialty chemicals said first quarter sales fell 60% to $191.7 million from $480.8 million a year ago. Net loss in the quarter was $8.3 million or 27 cents per diluted share compared to net income of $55.2 million or $1.81 per share a year ago.

PRIMEDIA Inc ((PRM)) fell 5.5% or 21 cents to $3.61, an integrated media company reported first quarter sales fell 11.6% to $68.5 million from $77.5 million a year ago. Net income in the quarter fell 97% to $0.4 million or 1 cent per diluted share compared to net income of $13.6 million or 31 cents per share a year ago.

Pioneer Drilling Company ((PDC)) surged 4.4% or 25 cents to $5.91 after the provider of contract land drilling services reported first quarter sales fell 11% to $100.8 million from $113.4 million a year ago. Net income in the quarter fell 95% to $0.6 million or 1 cent per diluted share compared to operating income of $11.8 million or 24 cents per share a year ago.

Net loss in the quarter was $5 million or 1 cents a share compared to profit of $68 million or 18 cents a share.

Prudential Financial, Inc ((PRU)) surged 20% or $7.20 to $42.72 after it reported revenues gain of 16% to $8 billon. And net operating loss from continuing operations of 11 million compared income of 48 million a year ago.

TAM SA ((TAM)) added 6.0% or 49 cents to $8.69 after the Brazil''s airline reported first quarter sales revenues rose 17% to R2.64 billion from R2.25 billion a year ago. Net income in the quarter rose 21.8% to R56.9 million or compared to net income of R46.7 million a year ago.

Teradata Corporation ((TDC)) rose 14.3% or $2.70 to $21.53 after the maker of computers reported first quarter revenues fell 2% to $367 million from $375 million a year ago. Net income in the quarter rose 7% to $45 million or 26 cents per diluted share compared to net income of $42 million or 23 cents per share a year ago.

Tesoro Corporation ((TSO)) climbed 3.6% or 65 cents to $18.45 after the independent oil refiner said first quarter revenues fell 50.4% to $3.28 billion from $6.61 billion a year ago. Net income in the quarter was $51 million or 37 cents per diluted share compared to net loss of $82 million or 60 cents per share a year ago.