Amgen, Family Dollar Surge; ICE Plunges

Mayank Mehta
08 Jul, 2009
New York City

Amgen Inc led gainers in the S&P 500 index with a rise of 15.5%. A. Schulman third quarter profit rises. Family Dollar Stores third quarter net profit rises. Ruby Tuesday reports strong results. IntercontinentalExchange plunged 10% on a possible rule tightening for energy futures trading.

[R]12:05 PM New York – Amgen Inc led gainers in the S&P 500 index with a rise of 15.5%. A. Schulman third quarter profit rises. Family Dollar Stores third quarter net profit rises. Ruby Tuesday reports strong results. IntercontinentalExchange plunged 10% on a possible rule tightening for energy futures trading.[/R]

Of the stocks in S&P 500 index, 333 increased, 156 declined and 11 were unchanged.

IntercontinentalExchange, Inc led the decliners in the S&P 500 index with a loss of 6.2% followed by losses in Starwood Hotels & Resorts Worldwide, Inc of 4.2%, in Nvidia Corporation of 3.3%, in The Hartford Financial Services Group, Inc of 3.2% and in Aetna Inc of 2.8%.

Amgen Inc led gainers in the S&P 500 index with a rise of 15.5% followed by gains in Family Dollar Stores, Inc 12.0%, in Tenet Healthcare Corporation of 8.0% and Whole Foods Market, Inc of 6.2%.

Other Movers

A.Schulman, Inc ((SHLM)) added 1.0% or 9 cents to $16.58 after the plastic compounds and resins supplier said third quarter revenues fell 41.8% to $297.7 million from $511.8 million a year ago. Net income in the quarter rose 4.2% to $7.4 million or 29 cents per diluted share compared to net income of $7.1 million or 26 cents per share a year ago.

Amgen Inc ((AMGN)) the world’s largest biotechnology company surged 15.6% or $8.18 to $60.41 after it reported that in the phase-3 trial its product compared to Zometa for breast cancer met its expectations.

Advanced Auto Parts, Inc ((AAP)) surged $1.44 or 3.5% to $43.20.

Amylin Pharmaceuticals, Inc ((AMLN)) rose 1.0% or 13 cents to $12.59 after the drugmaker, Eli Lilly and Alkermes Inc. said that the new drug application for exenatide once weekly has been accepted for review by the U.S. FDA. The application is used by people suffering from type 2 diabetes. Nearly 23 million people suffer from the diabetes in the U.S. and 240 million people worldwide.

Arena Pharmaceuticals, Inc ((ARNA)) fell 12.6% or 59 cents to $4.08 after the biotechnology company plans to sell 12.5 million shares of its common stock at a public offering price of $4.17 per share. All of the shares are being offered by Arena.

ARYx Therapeutics, Inc ((ARYX)) sank 44.1% or $1.86 to $2.35 The California based company said that the clinical trials comparing its anticoagulant agent tecarfarin with the leading oral anticoagulant or blood thinner developed by Bristol Meyers warfarin did not produce better results.

Bank of America ((BAC)) declined 4.3% to $11.59 and led the most active stocks.

BPZ Resources, Inc ((BPZ)) climbed 11.1% or 51 cents to $5.09 after the oil and gas company said that its subsidiary, BPZ Exploracion & Produccion S.R.L. has secured commitments for a $70 million for capital expenditures and working capital. The facility was arranged by Natixis, International Finance Corporation, Scotia Bank and Banco de Credit del Peru.

Family Dollar Stores, Inc ((FDO)) rose 8.0% or $2.24 to $29.99 after the retailer reported third quarter sales rose 8.3% to $1.84 billion from $1.70 billion a year ago. Net income in the quarter rose 35.5% to $87.7 million or 62 cents per diluted share compared to net income of $64.7 million or 46 cents per share a year ago.

Freeport-McMoran Copper & Gold Inc ((FCX)) advanced 3.0% or $1.15 to $46.15 after the world’s largest publicly traded copper producer was upgraded from “hold” to “buy” at Citigroup Inc.

Google Inc ((GOOG)) increased $3.97 or 1% to $400.51 after it released operating system competing with Microsoft to run Internet based netbooks. Microsoft ((MSFT)) declined 1.6% or 36 cents to $22.16.

IntercontinetalExchange, Inc ((ICE)) declined 10.1% or $9.91 to $88.12 after the U.S. regulator suggested to tighten trading rules for futures of commodities and energy.

Johnson & Johnson ((JNJ)) increased 1.4% to $57.01 on trading volume of 5.1 million shares.

Las Vegas Sands Corp ((LVS)) fell 1.0% or 7 cents to $6.83 after the casino operator announced plans to raise $2 billion in Hong Kong offering to complete the Macau resort construction.

The Pepsi Bottling Group, Inc ((PBG)) dropped 2.0% or 65 cents to $33.00 after the world''s largest soft drink maker reported second quarter revenues fell 5.7% to $3.3 billion from $3.5 billion a year ago. Net income in the quarter rose 21.3% to $211 million or 96 cents per diluted share compared to net income of $174 million or 78 cents per share a year ago.

Peabody Energy Corporation ((BTU)) climbed 5.2% or $1.38 to $28.75 after the largest U.S. coal producer was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

Petroleo Brasileiro SA ((PBR)) declined 3.1% to $35.01 after crude oil prices fell for the sixth day in a row and hovered near $61.

RBC Bearings Inc ((ROLL)) increased 6% or $1.16 to $20.65.

Ruby Tuesday, Inc ((RT)) climbed 8.3% or 62 cents to $8.02 after the casual dining chain operator said fourth quarter revenues fell 7% to $317.3 million from $341.4 million a year ago. Net income in the quarter rose 3.6% to $14.4 million or 28 cents per diluted share compared to net income of $13.9 million or 27 cents per share a year ago.

Vale SA dropped 0.7% to $15.77 on 27.5 million shares as Chinese steelmakers negotiate prices with the Australian iron ore suppliers.

Websense, Inc ((WBSN)) the provider of web filtering and security retreated 12.4% or $2.09 to $14.71.