Huntington Banc, Surges; CB Richard Plunges

123jump.com Staff
11 May, 2009
New York City

Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 10.5%. Clear Channel Outdoor Holdings, Inc posts first quarter loss. Furmanite Corporation first quarter profit declines. The PMI Group, Inc posts first quarter loss but tops street forecast.

[R]11:45AM New York – Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 10.5%. Clear Channel Outdoor Holdings, Inc posts first quarter loss. Furmanite Corporation first quarter profit declines. The PMI Group, Inc posts first quarter loss but tops street forecast.[/R]

Of the stocks in S&P 500 index, 34 increased, 464 declined and 2 were unchanged.

General Motors Corporation led the decliners in the S&P 500 index of 12.4% followed by losses in Dynegy Inc of 11.7%, in Capital One Financial Corporation of 11.3%, in CB Richard Ellis Group, Inc of 10.4% and in Office Depot, Inc of 10.4%.

Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 10.5% followed by gains in Marshall & Ilsley Corporation of 8.6%, in Stericycle, Inc of 3.5% and Millipore Corporation of 3.5%.

Other Movers

Atlas Pipeline Holdings, L.P ((AHD)) declined 13.1% or 38 cents to $2.49 after the midstream energy service provider reported first quarter revenues fell 70.3% to $190.2 million from $303.4 million a year ago. Net loss in the quarter was $3.1 million or 11 cents per diluted share compared to net income of $2.8 million or 10 cents per share a year ago.

AstraZeneca PLC ((AZN)) added 5.2% or $1.88 to $38.02 after the pharmaceutical company said Monday its experimental heart pill Brilinta was more effective at preventing heart attacks and strokes in a large clinical trial than the blockbuster pill Plavix.

CB Richard Ellis Group, Inc ((CBG)) a commercial real estate services firm plunged 11.8% or $1.11 to $8.26.

Clear Channel Outdoor Holdings, Inc ((CCO)) fell 4.8% or 22 cents to $5.19 after the outdoor advertising industry reported first quarter revenues rose 25% to $582.2 million from $775.6 million a year ago. Net loss in the quarter was $87.9 million or 25 cents per diluted share compared to net income of $88.9 million or 25 cents per share a year ago.

Coeur d’Alene Mines Corporation ((CDE)) declined 2.0% or 3 cents to $1.47 after the silver and gold miner first quarter revenues fell 13% to $49.8 million from $57.3 million a year ago. Net income in the quarter rose 30% to $6.1 million or 1 cent per diluted share compared to net income of $4.7 million or 1 cent per share a year ago.

DISH Network Corporation ((DISH)) rose 15.4% or $2.37 to $17.68 after the nation’s second-largest satellite-television reported first quarter loss on falling revenue. The company said it lost $645,000 or a penny per share, in the three months ended March 31 compared with a profit of $5.7 million or 6 cents per share, a year earlier.

Furmanite Corporation ((FRM)) lost 10.3% or 45 cents to $3.88 after the worldwide technical services firm reported first quarter revenues fell 14% to $63.0 million from $73.4 million a year ago. Net income in the quarter fell 76% to $0.9 million or 2 cents per diluted share compared to net income of $3.7 million or 10 cents per share a year ago.

General Motors Corporation ((GM)) dropped 7.4% or 11 cents to $1.50 after the automaker CEO Fritz Henderson said Monday in a conference call the company was “looking at everything” in response to question about whether automaker planning to move headquarters.

Genworth Financial, Inc ((GNW)) surged 8.0% or 42 cents to $5.70 after the insurer reported a first-quarter loss largely due to subprime mortgage impairments and investment losses.

HSBC Holdings plc dropped 1% or 40 cents to $43.75after the global bank said first quarter revenues rose 114% to £4.96 billion from £2.32 billion a year ago. Net profit for the quarter rose 242% to £872 million compared to net profit of £255 million a year ago.

The company has market cap of £97.77 billion.

Huntington Bancshares Incorporated ((HBAN)) a multi-state diversified financial company rose 8.4% or 44 cents to $5.64. The stock rallied with banks as more banks filed to raise capital. The bank completed the offering according to a filing with the SEC and sold 38.49 million shares and raised net proceeds of $117.6 million through Goldman Sachs.

Houston Wire & Cable Company ((HWCC)) added 12.4% or $1.28 to $11.60 after the supplier of electrical and electronic wire and cable reported first quarter revenues fell 26% to $65.8 million from $89.4 million a year ago. Net income in the quarter fell 69% to $2.1 million or 12 cents per diluted share compared to net income of $6.7 million or 37 cents per share a year ago.

Nam Tai Electronics, Inc ((NTE)) lost 4.4% or 20 cents to $4.29 after the provider of electronics manufacturing and design services reported first quarter revenues fell 30.6% to $102.2 million from $147.1 million a year ago. Net loss in the quarter was $3.9 million or 9 cents per diluted share compared to net income of $28.4 million or 63 cents per share a year ago

The PMI Group, Inc ((PMI)) rose 17.7% or 33 cents to $2.19 after the provider of residential mortgage insurance products reported first quarter revenues rose 5.7% to $245.1 million from $231.8 million a year ago. Net loss in the quarter was $115.3 million or $1.41 per diluted share compared to net loss of $274 million or $3.37 per share a year ago.

Southern Union Company ((SUG)) rose 3.6% or 62 cents to $17.51 after the diversified natural gas companies reported first quarter revenues fell 28% to $683.9 million from $952.7 million a year ago. Net income in the quarter fell 44% to $44.1 million or 36 cents per diluted share compared to net income of $78.6 million or 64 cents per share a year ago.

Warner Chilcott Limited ((WCRX)) slid 3.2% or 37 cents to $11.00 after the specialty pharmaceutical company reported first quarter revenues rose 7.2% to $246 million from $229.5 million a year ago. Net income in the quarter rose 28.5% to $43.3 million or 17 cents per diluted share compared to net income of $33.7 million or 13 cents per share a year ago.