Dell, Take-Two Interactive Plunges

Mayank Mehta
14 Jul, 2009
New York City

CIT Group Inc led gainers in the S&P 500 index with a rise of 24.4%. Bank of the Ozarks, Inc second quarter net up 10%. The Goldman Sachs Group second reported quarter net and compensation surges. Novellus Systems second quarter net loss.

[R]11:30 AM New York – CIT Group Inc led gainers in the S&P 500 index with a rise of 24.4%. Bank of the Ozarks, Inc second quarter net up 10%. The Goldman Sachs Group second reported quarter net and compensation surges. Novellus Systems second quarter net loss.[/R]

Of the stocks in S&P 500 index, 219 increased, 272 declined and 9 were unchanged.

Humana Inc led the decliners in the S&P 500 index with a loss of 4.8% followed by losses in Dell Inc of 4.4%, in ProLogis of 3.8%, in Kimco Realty Corporation of 3.6% and in Legg Mason, Inc of 2.7%.

CIT Group Inc led gainers in the S&P 500 index with a rise of 24.4% followed by gains in American International Group, Inc 8.0%, in CSX Corporation of 6.0% and Citigroup Inc of 3.9%.

Other Movers

American International Group, Inc ((AIG slid 3.1% or 46 cents to $14.11 after rising for the last two trading days ahead of earnings from banks.

Bank of the Ozarks, Inc ((OZRK)) added 4.8% or $1.09 after said second quarter net interest income rose 28.4% to $30.3 million from $23.6 million a year ago. Net income in the quarter rose 10.5% to $9.5 million or 56 cents per diluted share compared to net income of $8.6 million or 51 cents per share a year ago.

CIT Group Inc ((CIT)) gained 5.1% or 6 cents to $1.41 on the optimism that the U.S. will offer financial assistance to the lender to manufacturing companies.

CoBiz Financial Inc ((COBZ)) sank 13.9% or 82 cents to $5.06 after the Denver based bank commenced an offering of approximately $45 million of its common stock in an underwritten public offering through Keefe, Bruyette & Woods.

CSX Corporation ((CSX)) climbed 2.0% or 51 cents to $32.54 after the railroad operator said second quarter revenues fell 25% to $2.19 billion from $2.91 billion a year ago. Net income in the quarter fell 20% to $308 million or 78 cents per diluted share compared to net income of $385 million or 93 cents per share a year ago.

Dell Inc ((DELL)) plunged 6.9% or 91 cents to $12.11 after the PC maker estimated a small sequential increase in revenues in the fiscal second quarter 2010 ending in July.

The Goldman Sachs Group, Inc ((GS)) increased 1.0% or $1.12 to $150.56 after the bank reported second quarter revenues rose 46% to $13.76 billion from $9.42 billion a year ago. Net income in the quarter rose 32.7% to $2.72 billion or $4.93 per diluted share compared to net income of $2.05 billion or $4.58 per share a year ago.

Health Net, Inc ((HNT)) an integrated managed care organization sank 15.0% or $2.13 to $12.02.

Hi-Tech Pharmacal Co., Inc ((HITK)) gained 27.5% or $2.72 to $12.61 after the specialty pharmaceutical company reported fourth quarter sales rose 83% to $38.3 million from $21.0 million a year ago. Net income in the quarter was $5.1 million or 45 cents per diluted share compared to net income of $0.3 million or 2 cents per share a year ago.

Humana Inc ((HUM)) the private health insurer fell 4.8% or $1.38 to $29.21.

Johnson & Johnson ((JNJ)) added 1.3% or 78 cents to $58.50 after the health care products maker reported second quarter sales fell 7.4% to $15.2 billion from $16.5 billion a year ago. Net income in the quarter fell 3.5% to $3.21 billion or $1.15 per diluted share compared to net income of $3.33 billion or $1.17 per share a year ago.

Kimco Realty Corporation ((KIM)) an owner and operator of neighborhood and community shopping centers dropped 3.0% or 24 cents to $8.64.

Novellus Systems, Inc ((NVLS)) rose 3.3% or 60 cents to $18.59 after the semiconductor equipment maker said second quarter revenues fell 54% to $119.2 million from $257.7 million a year ago. Net loss in the quarter was $50 million or 52 cents per diluted share compared to net loss of $2.4 million or 2 cents per share a year ago.

ProLogis ((PLD)) lost 4.7% or 35 cents to $7.01 a self administered and self managed real estate investment trust said that it will develop a new, 554,000 square foot (51,500-square-meter) distribution facility in The Netherlands for Hi-Logistics a wholly owned logistics subsidiary of LG Electronics.

Take-Two Interactive Software, Inc ((TTWO)) dropped 10.4% or 94 cents to $8.04 after the video game developer lowered its fiscal 2009 guidance as it pushed back the release of BioShock 2 to the first quarter of 2010 from the last quarter of 2009.