Oracle, Monsanto, American Greetings Rise

Mayank Mehta
24 Jun, 2009
New York City

Supervalu led the decliners in the S&P 500 index with a loss of 11.9%. AeroVironment fourth quarter net down 9%, Shares up. American Greetings first quarter earnings declined 25%. Net income at Monsanto fell 14% and Oracle declined 7%.

[R]11:00AM New York – Supervalu led the decliners in the S&P 500 index with a loss of 11.9%. AeroVironment fourth quarter net down 9%, Shares up. American Greetings first quarter earnings declined 25%. Net income at Monsanto fell 14% and Oracle declined 7%.[/R]

Of the stocks in S&P 500 index, 417 increased, 75 declined and 8 were unchanged.

Supervalu Inc led the decliners in the S&P 500 index with a loss of 11.9% followed by losses in Genzyme Corporation of 2.8%, in Whole Foods Market, Inc of 2.7%, in Whole Foods Market, Inc of 2.7% and in Memc Electronic Materials Inc of 2.7%.

The AES Corporation led gainers in the S&P 500 index with a rise of 6.9% followed by gains in of Harman International Industries, Inc 5.5%, in Oracle Corporation of 5.4% and Jabil Circuit, Inc of 5.4%.

Other Movers

AeroVironment, Inc ((AVAV)) added 5.9% or $1.64 to $29.00 after the maker of unmanned aircraft said fourth quarter revenues rose 18% to $76 million from $64.3 million a year ago. Net income in the quarter fell 9% to $5.8 million or 27 cents per diluted share compared to net income of $6.4 million or 30 cents per a year ago.

The AES Corporation ((AES)) climbed 8.9% or 86 cents to $10.49 after the Arlington, Virginia based electricity producer was downgraded from “overweight” to “equal weight” at Barclays Capital.

Amerigroup Corporation ((AGP)) the manager of government health plans fell 5.7% or $1.68 to $27.33.

American Greetings Corporation ((AM)) jumped 28.9% or $1.84 to $8.24 after the maker of greeting cards reported first quarter revenues fell 3.6% to $412.9 million from $428.3 million a year ago. Net income in the quarter fell 25.3% to $9.96 million or 25 cents per diluted share compared to net income of $13.33 million or 27 cents per share a year ago.

American Tower Corporation ((AMT)) gained 5.7% or $1.72 to $31.57 after the second-largest U.S. operator of cell-phone towers was upgraded from “neutral” to “overweight” at JP Morgan.

Apogee Enterprises, Inc ((APOG)) rose 3.3% or 40 cents to $12.47 after the manufacturer of glass and aluminum windows said first quarter revenues fell 24% to $180.9 million from $238.5 million a year ago. Net income in the quarter fell 26.5% to $7.5 million or 27 cents per diluted share compared to net income of $10.2 million or 36 cents per a year ago.

EMC Corporation ((EMC)) gained 3.9% or 50 cents to $13.09 after the world’s largest maker of data storage computers was upgraded from “equal weight” to “overweight” at Barclays Capital.

Freeport-McMoran Copper & Gold Inc ((FCX)) climbed 5.3% or $2.61 to $49.79 after the world’s largest publicly traded copper producer was upgraded from “market perform” to “outperform” at FBR Capital.

Darden Restaurants, Inc ((DRI)) dropped 2.8% or 60 cents to $32.30 after the world''s largest full-service restaurant company reported fourth quarter sales rose 8% to $1.98 billion from $1.83 billion a year ago. Net income in the quarter rose 21% to $123 million or 87 cents per diluted share compared to net income of $101.8 million or 71 cents per share a year ago.

H.B. Fuller Company ((FUL)) climbed 6.5% or $1.10 to $17.80 after the maker of adhesives, sealants and paints said first quarter revenues fell 16% to $299.2 million from $356.8 million a year ago. Net income in the quarter fell 17.8% to $7.5 million or 27 cents per diluted share compared to net income of $21.4 million or 41 cents per a year ago.

Jabil Circuit, Inc ((JBL)) surged 7.7% or 51 cents to $7.12 after the electronics parts maker said third quarter revenues fell 16% to $2.62 billion from $3.09 billion a year ago. Net loss in the quarter was $28.8 million or 14 cents per diluted share compared to net income of $38.4 million or 19 cents per a year ago.

MGM Mirage ((MGM)) climbed 16.0% or 91 cents to $6.76 after the casino operator said in a filing that after its recent stock and debt offering there is no longer ‘going concern’ doubt. The phrase is used by auditors when completing the financial statements review and presenting their views to shareholders and board of directors.

Monsanto Company ((MON)) rose 2.3% or $1.88 to $81.21 after the world''s biggest seed maker reported third quarter revenues fell 11% to $3.16 billion from $3.54 billion a year ago. Net income in the quarter fell 14% to $694 million or $1.25 per diluted share compared to net income of $811 million or $1.45 per share a year ago.

Oracle Corporation ((ORCL)) jumped 3.0% or 53 cents to $20.40 after the world''s largest database company said fourth quarter revenues fell 5% to $6.9 billion from $7.2 billion a year ago. Net income in the quarter fell 7% to $1.9 billion or 38 cents per diluted share compared to net income of $2.04 billion or 39 cents per a year ago.

OMNOVA Solutions Inc ((OMN)) slid 6.8% or 20 cents to $2.72 after the specialty chemicals maker reported second quarter sales fell 27% to $161.3 million from $219.7 million a year ago. Net income in the quarter was $5.1 million or 12 cents per diluted share compared to net loss of $3.1 million or 7 cents per share a year ago.

Petrohawk Energy Corporation ((HK)) climbed 4.8% or 99 cents to $21.57 after the natural-gas producer was upgraded from “neutral” to “buy” at Sun Trust Robinson Humphrey.

Sonic Corp ((SONC)) increased 5.6% or 50 cents to $9.30 after the drive in restaurant chain said third quarter revenues fell 9.9% to $191.9 million from $213 million a year ago. Net income in the quarter fell 2.3% to $16.8 million or 27 cents per diluted share compared to net income of $17.2 million or 28 cents per a year ago.