CME, MBIA Rise; Aegean, MGM Mirage Fall

Mayank Mehta
14 May, 2009
New York City

Mylan led the decliners in the S&P 500 index of 3.8%. Kohl

[R]12:20PM New York – Mylan Inc led the decliners in the S&P 500 index of 3.8%. Kohl’s Corporation first quarter net income falls 11%. Newtek Business Services, Inc first quarter loss narrows. Wabash National Corporation first quarter loss widens.[/R]

Of the stocks in S&P 500 index, 348 increased, 145 declined and 7 were unchanged.

Mylan Inc led the decliners in the S&P 500 index of 3.8% followed by losses in Denbury Resources Inc of 3.3%, in General Motors Corporation of 3.3%, in MBIA Inc of 3.3% and in ProLogis of 3.1%.

Novellus Systems, Inc led gainers in the S&P 500 index with a rise of 7.3% followed by gains in Genworth Financial, Inc of 6.5%, in CME Group Inc of 5.6% and CA, Inc of 5.1%.

Other Movers

Aegean Marine Petroleum Network, Inc ((ANW)) declined 17.2% or $2.55 to $12.20 an international marine fuel logistics company said first quarter revenues fell 31.3% to $365.4 million from $532.0 million a year ago. Net income in the quarter fell 41.3% to $4.4 million or 10 cents per diluted share compared to net income of $7.5 million or 18 cents per share a year ago.

CA, Inc ((CA)) added 3.2% or 61 cents to $17.93 after the information technology management software company said fourth quarter revenues fell 5% to $1.04 billion from $1.09 billion a year ago. Net income in the quarter rose 1.4% to $72 million or 13 cents per diluted share compared to net income of $71 million or 13 cents per share a year ago.

CME Group Inc ((CME)) increased for the third day in a row on a speculation that recent rise in commodities trading will improve earnings in the current quarter. JP Morgan Chase & Co. raised company rating to ‘neutral’ from ‘underweight’ according to newratings.com.

Clearwire Corporation ((CLWR)) fell 5.7% or 29 cents to $4.80 after the WiMax mobile services provider reported first quarter loss on higher revenues and more subscribers.

CommVault Systems, Inc ((CVLT)) the supplier of data-management software dropped 6.7% or 84 cents to $11.55.

Fortress Investment Group LLC ((FIG)) fell 10.4% or 56 cents to $4.82 after the private-equity and hedge-fund manager said it plans to raise $125 million in a public offering of its Class A shares. The Company expects to grant the underwriters an option to purchase up to an additional $18.75 million of Class A shares to cover over-allotments.

Kohl’s Corporation ((KSS)) lost 4.6% or 6 cents to $41.95 after the department store operator reported first quarter revenues rose 0.4% to $3.64 billion from $3.62 billion a year ago. Net income in the quarter fell 11% to $137 million or 45 cents per diluted share compared to net income of $153 million or 49 cents per share a year ago.

MBIA Inc ((MBI)) increased 8.6% to $6.18 after fifteen banks including Bank of America, JP Morgan Chase and UBS filed a lawsuit that recent company break up of its bond guarantee business is illegal.

MGM Mirage ((MGM)) dropped 6.6% to $8.13 after it completed its public offering of $1 billion to sell 143 million common stocks and priced its $1.5 billion debt offering. The senior notes maturing in May 2014 of $650 million with 10.375% were prices at 97.184% and $850 million in 11.125% notes maturing in November 2017 were priced at 97.344%.

Newtek Business Services, Inc ((NEWT)) added 9.0% or 0.050 cents to $0.600 after the provider of business services and financial products said first quarter revenues rose 3% to $24.1 million from $23.5 million a year ago. Net loss in the quarter was $976,000 or 3 cents per diluted share compared to net loss of $2.7 million or 8 cents per share a year ago.

Novellus Systems, Inc ((NVLS)) jumped 7.3% or $1.15 to $16.91 after the sells and supports equipment used in the fabrication of integrated circuits was raised to “buy” at Bank of America and set stock price target of $20.

Sony Corporation ((SNE)) fell 3.0% or 22 cents to $25.63 after the Japanese electronics and entertainment company reported fourth quarter revenues fell 26% to ¥1.36 trillion from ¥1.83 trillion a year ago. Net loss in the year was ¥165.1 billion compared to net income of ¥29.0 billion a year ago.

Telefonica, S.A ((TEF)) dropped 3.0% or $1.89 to $59.96 after the Spanish telecommunications company said first quarter revenues fell 1.4% to €13.7 billion from €13.9 billion a year ago. Net income in the quarter rose 13.3% to €1.7 billion or €0.37 per diluted share compared to net income of €1.5 million or €0.33 per share a year ago.

Urban Outfitters, Inc ((URBN)) rose 3.6% or 79 cents to $19.69 after the apparel retailer reported first quarter sales fell 2% to $384.8 million from $394.3 million a year ago. Net income in the quarter fell 28% to $30.8 million or 18 cents per diluted share compared to net income of $42.6 million or 25 cents per share a year ago.

Wabash National Corporation ((WNC)) slid 21.0% or 32 cents to $1.20 after the manufacturers of semi trailers in North America said first quarter revenues fell 51.6% to $77.9 million from $161.1 million a year ago. Net loss in the quarter was $28.3 million or 94 cents per diluted share compared to net loss of $6.4 million or 21 cents per share a year ago.

Wal-Mart Stores, Inc ((WMT)) declined 1.7% to $49.19 after it reported first quarter earnings of 77 cents compared to 76 cents a share in the quarter a year ago and see the second quarter earnings flat and between 83 cents and 88 cents a share. Revenues in the first quarter decreased 0.6% to $93.571 largely on the decline of 11% in international sales and 1.4% fall in Sam’s Club sales.