Yum Falls; Bemis, Gannett, Intel Rise

Mayank Mehta
15 Jul, 2009
New York City

YUM! Brands fell 7% after it reported earnings. The mutual funds manager Janus declined after its chief resigned and company plans to raise capital. Gannett gained after it returned to profit.

[R]11:30 AM New York – YUM! Brands fell 7% after it reported earnings. The mutual funds manager Janus declined after its chief resigned and company plans to raise capital. Gannett gained after it returned to profit.[/R]

Of the stocks in S&P 500 index, 447 increased, 50 declined and 3 were unchanged.

YUM! Brands, Inc led the decliners in the S&P 500 index with a loss of 7.0% followed by losses in Janus Capital Group Inc of 6.8%, in CIT Group Inc of 5.5%, in CIGNA Corporation of 3.5% and in Aetna Inc of 3.0%.

Gannett Co., Inc led gainers in the S&P 500 index with a rise of 18.9% followed by gains in Capital One Financial Corporation 9.4%, in Advanced Micro Devices, Inc of 8.7% and Intel Corporation of 7.5%.

Other Movers

3PAR Inc ((PAR)) plunged 23.1% or $2.67 to $8.78 after the data storage provider said expects to report revenue for the first quarter in the range of $44.2 million to $44.5 million representing an approximate 3 to 4% increase over the comparable prior year period and an approximate 8 to 9% sequential decrease over the fourth quarter of fiscal 2009.

AAR Corp ((AIR)) added 3.0% or 42 cents to $15.52 after the provider of parts and maintenance services to the aviation industry said fourth quarter sales fell 5% to $371.7 million from $391.7 million a year ago. Net income in the quarter fell 6.8% to $20.5 million or 49 cents per diluted share compared to net income of $22 million or 52 cents per share a year ago.

Abbott Laboratories ((ABT)) dropped 4.0% or $1.87 to $44.62 after the drug and medical device company reported second quarter revenues rose 2.5% to $7.5 billion from $7.31 billion a year ago. Net income in the quarter fell 3% to $1.29 billion or 83 cents per diluted share compared to net income of $1.32 billion or 85 cents per share a year ago.

Acergy S.A ((ACGY)) rose 4.6% or 46 cents to $10.33 after the seabed to surface engineering and construction contractor said second quarter revenues fell 25.5% to $525.5 million from $705.6 million a year ago.Net profit for the quarter rose 24.4% to $76.9 million or 41 cents per diluted share compared to net profit of $61.8 million or 35 cents per share a year ago.

ADTRAN, Inc ((ADTN)) added 4.1% or 91 cents to $22.65 after the networking and communications equipment provider said second quarter sales fell 7% to $121.5 million from $131.2 million a year ago.Net profit for the quarter fell 15.6% to $18.9 million or 30 cents per diluted share compared to net profit of $22.4 million or 34 cents per share a year ago.

Altera Corporation ((ALTR)) climbed 3.0% or 45 cents to $17.01 after the chipmaker said second quarter sales fell 22% to $279.2 million from $359.9 million a year ago. Net income in the quarter fell 52% to $47.4 million or 16 cents per diluted share compared to net income of $98 million or 32 cents per share a year ago.

Alcatel Lucent ((ALU)) gained 13.4% or 29 cents to $2.46 after the world’s largest maker of fixed line networks was upgraded to “buy” at Merrill Lynch.

AMR Corporation ((AMR)) climbed 2.0% or 7 cents to $4.25 after the airline industry reported second quarter revenues fell 21% to $4.89 billion from $6.18 billion a year ago. Net loss for the quarter was $390 million or $1.39 per diluted share compared to net loss of $1.46 billion or $5.83 per share a year ago.

ASML Holding N.V ((ASML)) surged 3.8% or 84 cents to $22.84 after the maker of semiconductor equipment reported second quarter sales fell 67% to €277 million from €844 million a year ago. Net loss in the quarter was €104 million or €0.24 per diluted share compared to net profit of €192 million or €0.44 per share a year ago.

Bemis Company, Inc ((BMS)) rose 6.5% or $1.64 to $26.77 after the largest producer of flexible packaging in the Americas today announced that management expects its diluted earnings per share for the second quarter to be approximately 47 cents. Management''s original guidance for the second quarter was 35 cents to 43 cents per share

Gannett Co., Inc ((GCI)) increased 18.9% or 66 cents to $4.13 after the largest newspaper publisher said second quarter revenues fell 18% to $1.41 billion from $1.72 billion a year ago. Net profit for the quarter was $70.5 million or 30 cents per diluted share compared to net loss of $2.29 billion or $10.03 per share a year ago.

Intel Corporation ((INTC)) rose 7.0% or $1.19 to $18.02 after the chip maker said second quarter sales fell 15.3% to $8.02 billion from $9.47 billion a year ago. Net loss in the quarter was $398 million or 7 cents per diluted share compared to net income of $1.6 billion or 28 cents per share a year ago.

Janus Capital Group Inc ((JNS)) lost 4.1% or 46 cents to $10.71 after the mutual fund company reported earnings and its chief executive resigned and the company also plans to raise capital through stock and convertible debt offering.

Ocean Power Technologies, Inc ((OPTT)) surged 1.3% or 7 cents to $5.34 after the developer of on grid and autonomous wave-energy generation systems said full year sales fell 15% to $4.0 million from $4.8 million a year ago. Net loss for the year was $18.3 million or $1.79 per diluted share compared to net loss of $14.7 million or $1.44 per share a year ago.

Palm Harbor Homes, Inc ((PHHM)) increased 2.0% or 4 cents to $2.00 after the manufacturers and marketers of multi section manufactured homes said first quarter sales fell 36.6% to $82.4 million from $130.0 million a year ago. Net loss in the quarter was $10.0 million or 44 cents per diluted share compared to net loss of $0.5 million or 2 cents per share a year ago.

W.W. Grainger, Inc ((GWW)) advanced 3.0% or $2.08 to $84.66 after the supplier of facilities maintenance products said second quarter revenues fell 13% to $1.5 billion from $1.8 billion a year ago. Net profit for the quarter fell 18% to $92 million or $1.21 per diluted share compared to net income of $113 million or $1.42 per share a year ago.

Wolverine World Wide, Inc ((WWW)) lost 2.4% or 54 cents to $21.47 after the footwear maker said second quarter sales fell 8% to $246.4 million from $267.4 million a year ago.Net profit for the quarter fell 53% to $7.9 million or 16 cents per diluted share compared to net income of $16.8 million or 33 cents per share a year ago.

Worthington Industries, Inc ((WOR)) surged 4.7% or 57 cents to $12.59 after the metal processing company said fourth quarter sales fell 46% to $471.6 million from $868.9 million a year ago. Net loss for the quarter was $13.7 million or 17 cents per diluted share compared to net income of $53.9 million or 68 cents per share a year ago.

YUM! Brands, Inc ((YUM)) decreased 4.0% or $1.43 to $34.80 after the quick service restaurant said second quarter revenues fell 7.4% to $2.5 billion from $2.7 billion a year ago. Net income in the quarter rose 35.3% to $303 million or 63 cents per diluted share compared to net income of $224 million or 45 cents per share a year ago.