Regions Financial, SunTech and GameStop Fall

Mayank Mehta
21 May, 2009
New York City

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 6.7%. Citi Trends, Inc first quarter beats street. Hot Topic, Inc posts better than expected first quarter results. Kirkland

[R]11:15AM New York – Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 6.7%. Citi Trends, Inc first quarter beats street. Hot Topic, Inc posts better than expected first quarter results. Kirkland’s, Inc posts first quarter profit, shares up.[/R]

Of the stocks in S&P 500 index, 52 increased, 446 declined and 2 were unchanged.

Regions Financial Corporation led the decliners in the S&P 500 index of 17.7% followed by losses in GameStop Corp of 12.3%, in Huntington Bancshares Incorporated of 11.2%, in Fifth Third Bancorp of 9.0% and in Marshall & Ilsley Corporation of 8.0%.

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 6.7% followed by gains in Tenet Healthcare Corporation of 7.6%, in Computer Sciences Corporation of 6.3% and Juniper Networks, Inc of 3.1%.

Other Movers

Barnes & Noble, Inc ((BKS)) surged 5.6% or $1.36 to $25.25 after the nation''s largest bookstore chain reported first quarter revenues fell 4% to $1.11 billion from $1.15 billion a year ago. Net loss in the quarter was $2.7 million or 5 cents per diluted share compared to net loss of $2.2 million or 4 cents per share a year ago.

Citi Trends, Inc ((CTRN)) added 10% or $2.28 to $25.00 after the clothing company said first quarter revenues rose 18% to $143.1 million from $121 million a year ago. Net income in the quarter rose 53% to $7.9 million or 54 cents per diluted share compared to net income of $5.2 million or 36 cents per share a year ago.

Computer Sciences Corporation ((CSC)) rose 4.5% or $1.67 to $38.82 after the information technology services provider said fourth quarter revenues fell 8% to $4.11 billion from $4.48 billion a year ago. Net income in the quarter rose 110% to $382.3 million or $2.51 per diluted share compared to net income of $181.7 million or $1.15 per share a year ago.

GameStop Corp ((GME)) decreased 11.2% or $2.97 to $23.50 after the world’s largest video game and entertainment software retailer reported first quarter revenues rose 9.2% to $1.98 billion from $1.81 billion a year ago. Net income in the quarter rose 13.4% to $70.4 million or 42 cents per diluted share compared to net income of $62.1 million or 37 cents per share a year ago.

Hot Topic, Inc ((HOTT)) fell 7.4% or 65 cents to $8.10 a teen clothier said first quarter revenues rose 10% to $175.1 million from $159 million a year ago. Net income in the quarter was $1.2 million or 3 cents per diluted share compared to net loss of $1.4 million or 3 cents per share a year ago.

Intuit Inc ((INTU)) climbed 3.3% or 85 cents to $26.07 after the personal finance software maker said third quarter sales rose 9% to $1.43 billion from $1.31 billion a year ago. Net income in the quarter rose 9% to $484.8 million or $1.47 per diluted share compared to net income of $444.2 million or $1.33 per share a year ago.

Kirkland’s, Inc ((KIRK)) jumped 15.0% or $1.05 to $8.05 after the specialty retailer of home decor reported first quarter revenues fell 1% to $83.3 million from $84.1 million a year ago. Net income in the quarter was $3.5 million or 17 cents per diluted share compared to net loss of $2.6 million or 13 cents per share a year ago.

Limited Brands, Inc ((LTD)) surged 3.0% or 36 cents to $12.02 after the clothing and personal care products retailer said first quarter revenues fell 10% to $1.73 billion from $1.93 billion a year ago. Net income in the quarter fell 97% to $2.6 million or 1 cent per diluted share compared to net income of $97.8 million or 28 cents per share a year ago.

New York & Company, Inc ((NWY)) lost 3.0% or 12 cents to $4.45 after the specialty retailer of women''s apparel reported first quarter revenues fell 14% to $232.9 million from $270.1 million a year ago. Net loss in the quarter was $4.9 million or 8 cents per diluted share compared to net income of $6.72 million or 11 cents per share a year ago.

PetSmart, Inc ((PETM)) declined 3.0% or 64 cents to $22.30 after the pet supplies retailer said first quarter revenues rose 9% to $1.33 billion from $1.21 billion a year ago. Net income in the quarter rose 12% to $46.3 million or 37 cents per diluted share compared to net income of $41.2 million or 32 cents per share a year ago.

Suntech Power Holdings Co., Ltd ((STP)) slid 7.9% or $1.25 to $14.58 after the China-based solar module maker reported first quarter revenues fell 27% to $315.7 million from $434.5 million a year ago. Net income in the quarter fell 96% to $1.8 million or 1 cent per ADS compared to net income of $46.7 million or 27 cents per ADS a year ago.

Synopsys, Inc ((SNPS)) dropped 5.1% or $1.11 to $20.51 after the maker of software for developing and testing chips said second quarter revenues rose 4% to $336.8 million from $324.6 million a year ago. Net income in the quarter rose 23% to $48.3 million or 33 cents per diluted share compared to net income of $39.4 million or 27 cents per share a year ago.

The Toro Company ((TTC)) increased 10.0% or $2.40 to $30.39 after the lawn management equipment maker reported second quarter revenues fell 21.7% to $499.9 million from $638.5 million a year ago. Net income in the quarter fell 41.2% to $36.9 million or $1.00 per diluted share compared to net income of $62.8 million or $1.60 per share a year ago.