First Solar, Dun & Bradstreet Plunge; ITT Leads

Mayank Mehta
31 Jul, 2009
New York City

The Dun & Bradstreet dropped 14% after it lowered annual earnings outlook. Dolby Laboratories third quarter results exceed estimates. ITT led the gainers after it posted profit and lifted annual earnings outlook to as high as $3.70 a share. First Solar plunged after earnings.

[R]11:00AM New York – The Dun & Bradstreet dropped 14% after it lowered annual earnings outlook. Dolby Laboratories third quarter results exceed estimates. ITT led the gainers after it posted profit and lifted annual earnings outlook to as high as $3.70 a share. First Solar plunged after earnings increased less than expected and the margins remain weak.[/R]

Of the stocks in S&P 500 index, 360 increased, 133 declined and 7 were unchanged.

The Dun & Bradstreet Corporation led the decliners in the S&P 500 index with a loss of 14.2% followed by losses in Perkinelmer, Inc of 13.5%, in Iron Pitney Bowes Inc of 10.7%, in Lincoln National Corporation of 3.5% and in The Walt Disney Company of 3.2%.

ITT Corporation led gainers in the S&P 500 index with a rise of 5.6% followed by gains in McAfee, Inc 4.1%, in Johnson Controls, Inc of 4.0% and The Goodyear Tire & Rubber Company of 3.9%.

Other Movers

Abaxis, Inc ((ABAX)) surged 16.4% or $3.61 or $25.45 after the maker of portable medical analysis systems said diluted net income per share of 17 cents for the first quarter compared to 12 cents a year.

Avery Dennison Corporation ((AVY)) decreased 10.6% or $3.16 to $26.65 after the adhesive label maker and office supply company said second quarter sales fell 20% to $1.46 billion from $1.83 billion a year ago. Net income in the quarter fell 57% to $39.8 million or 38 cents per diluted share compared to net income of $92.4 million or 93 cents per share a year ago.

Amerigroup Corporation ((AGP)) sank 10.9% or $3.1 to $25.54 after the health insurer said second quarter revenues rose 15.2% to $1.29 billion from $1.12 billion a year ago. Net income in the quarter was $49.6 million or 94 cents per diluted share compared to net loss of $164 million or $3.10 per share a year ago.

AutoNation, Inc ((AN)) fell 2.5% or 53 cents to $20.10 after the nation''s largest auto dealership chain said second quarter revenues fell 28.7% to $2.61 billion from $3.66 billion a year ago. Net income in the quarter fell 29% to $36.7 million or 21 cents per diluted share compared to net income of $51.8 million or 29 cents per share a year ago.

Bankrate, Inc ((RATE)) rose 0.3% or 11 cents to $28.91 after the consumer finance web site operator said second quarter revenues fell 23% to $31 million from $40.2 million a year ago. Net income in the quarter fell 54% to $1.9 million or 10 cents per diluted share compared to net income of $4.1 million or 21 cents per share a year ago.

Brush Engineered Materials Inc ((BW)) climbed 9.4% or $1.78 to $20.61 after the manufacturer of engineered materials said second quarter revenues fell 29% to $174.1 million from $246.6 million a year ago. Net loss in the quarter was $0.8 million or 4 cents per diluted share compared to net income of $7.2 million or 35 cents per share a year ago.

Chevron Corporation ((CVX)) jumped 0.3% or 19 cents to $68.85 an oil company said second quarter revenues fell 51% to $40 billion from $81 billion a year ago. Net income in the quarter fell 71% to $1.75 billion or 87 cents per diluted share compared to net income of $5.98 billion or $2.90 per share a year ago.

Constellation Energy Group Inc ((CEG)) slipped 1.3% or 40 cents to $28.64 an energy company said second quarter revenues fell 19% to $3.86 billion from $4.76 billion a year ago. Net income in the quarter fell 84% to $28.3 million or 4 cents per diluted share compared to net income of $175 million or 95 cents per share a year ago.

Dolby Laboratories, Inc ((DLB)) added 3.0% or $1.26 to $42.85 an audio technology licensor said third quarter revenues fell 11% to $171 million from $154.3 million a year ago. Net income in the quarter rose 10% to $51.1 million or 44 cents per diluted share compared to net income of $46.4 million or 40 cents per share a year ago.

Dover Downs Gaming & Entertainment, Inc ((DDE)) fell 2.6% or 15 cents to $5.61 after the gaming and Entertainment Company said second quarter revenues fell 2.4% to $58.5 million from $60 million a year ago. Net income in the quarter fell 31.6% to $3.9 million or 12 cents per diluted share compared to net income of $5.7 million or 18 cents per share a year ago.

Dominion Resources, Inc ((D)) fell 0.6% or 23 cents to $34.31 after the producers and transporters of energy said second quarter revenues rose 2.9% to $3.5 billion from $3.4 billion a year ago. Net income in the quarter rose 52.3% to $454 million or 76 cents per diluted share compared to net income of $298 million or 51 cents per share a year ago.

drugstore.com, inc ((DSCM)) rose 7.1% or 14 cents to $2.10 an online retailer of health, beauty, vision, and pharmacy products said second quarter revenues rose 9% to $100.3 million from $92.2 million a year ago. Net income in the quarter was $1.0 million or 1 cent per diluted share compared to net loss of $2.3 million or 2 cents per share a year ago.

The Dun & Bradstreet (DNB)) plunged 13.5% to $71.59 after the company lowered the annual earnings outlook for diluted earnings per share to between 1% to 5% from previous estimate of 9% to 12% increase, excluding non-core gains and charges.

Dynamic Materials Corporation ((BOOM)) dropped 10.1% or $1.71 to $16.79 after provider of explosion-welded clad metal plates said second quarter sales fell 40.2% to $37.8 million from $63.2 million a year ago. Net income in the quarter fell 76% to $1.5 million or 12 cents per diluted share compared to net income of $6.2 million or 49 cents per share a year ago.

Evergreen Solar, Inc ((ESLR)) the maker of solar power wafers dropped 12.2% or 29 cents to $2.09.

First Solar, Inc ((FSLR)) declined 3.7% or $6.50 to $167.05 after the nation''s largest solar panel maker said second quarter sales rose 97% to $525.9 million from $267 million a year ago. Net income in the quarter rose 159% to $180.6 million or $2.11 per diluted share compared to net income of $69.7 million or 85 cents per share a year ago.

Harleysville Group Inc ((HGIC)) rose 3.5% or $1.06 to $30.67 after an insurance company said second quarter revenues fell 6.5% to $244.5 million from $261.5 million a year ago. Net income in the quarter rose 114% to $20.1 million or 72 cents per diluted share compared to net income of $9.4 million or 31 cents per share a year ago.

ITT Corporation ((ITT)) rose 6.1% or $2.97 to $51.25 after the defense contractor said second quarter revenues fell 9.2% to $2.78 billion from $3.06 billion a year ago. Net income in the quarter fell 9% to $201.4 million or $1.10 per diluted share compared to net income of $221 million or $1.19 per share a year ago. ITT also lifted earnings outlook between $3.50 and $3.70 a share.

Ingram Micro Inc ((IM)) surged 2.2% or 40 cents to $18.54 after the provider of technology products and supply chain said second quarter revenues fell 25.4% to $6.58 billion from $8.82 billion a year ago. Net income in the quarter fell 57% to $25.3 million or 15 cents per diluted share compared to net income of $58.9 million or 35 cents per share a year ago.

iPCS, Inc ((IPCS)) rose 1.0% or 18 cents to $17.55 after the seller of wireless mobility communications network products and services said second quarter revenues rose 8.3% to $140.2 million from $129.4 million a year ago. Net income in the quarter was $7.4 million or 43 cents per diluted share compared to net loss of $0.6 million or 4 cents per share a year ago.

Level 3 Communications, Inc ((LVLT)) dropped 12.3% or 20 cents to $1.42 after the provider of wholesale Internet networking services said second quarter revenues fell 13.6% to $942 million from $1.1 billion a year ago. Net loss in the quarter was $134 million or 8 cents per diluted share compared to net loss of $42 million or 3 cents per share a year ago.

M/I Homes, Inc ((MHO)) gained 5.3% or 65 cents to $12.89 after the builder of single-family said second quarter revenues fell 17.7% to $116.1 million from $141 million a year ago. Net loss in the quarter was $19.9 million or $1.26 per diluted share compared to net loss of $94.1 million or $6.72 per share a year ago.

M.D.C. Holdings, Inc ((MDC)) surged 2.7% or 95 cents to $35.14 after the homebuilder and mortgage company said second quarter revenues fell 52% to $195.3 million from $403.4 million a year ago. Net loss in the quarter was $29.6 million or 64 cents per diluted share compared to net loss of $100.7 million or $2.18 per share a year ago.

Parker Drilling Company ((PKD)) rose 2.6% or 12 cents to $4.70 after the provider of contract drilling services said second quarter revenues rose 2% to $221.8 million from $216.7 million a year ago. Net income in the quarter fell 80% to $4.4 million or 4 cents per diluted share compared to net income of $21.9 million or 19 cents per share a year ago.

Sempra Energy ((SRE)) fell 0.6% or 35 cents to $52.17 an energy services company said second quarter revenues fell 32% to $1.7 billion from $2.5 billion a year ago. Net income in the quarter fell 19% to $198 million or 80 cents per diluted share compared to net income of $244 million or 98 cents per share a year ago.

Sonus Networks, Inc ((SONS)) jumped 7.8% or 14 cents to $1.92 after the telecommunications gear maker said second quarter revenues rose 50% to $61.6 million from $41 million a year ago. Net income in the quarter was $4.4 million or 2 cents per diluted share compared to net loss of $16.2 million or 6 cents per share a year ago.

Sony Corporation ((SNE)) increased 9.9% or $2.46 to $27.28 after the manufacturer and seller of electronic equipment said second quarter revenues fell 19% to ¥1.6 billion from ¥1.98 billion a year ago. Net loss in the quarter was ¥37.1 billion or ¥36.96 per diluted share compared to net income of $35.0 billion or ¥33.28 per share a year ago.

Synaptics Incorporated ((SYNA)) the maker of touch pads for digital music players and electronic devices plunged 29.1% or $10.45 to $25.40.

The Walt Disney Company ((DIS)) fell 3.1% or 82 cents to $25.40 after the family entertainment company said third quarter revenues fell 7% to $8.60 billion from $9.24 billion a year ago. Net income in the quarter fell 26% to $954 million or 51 cents per diluted share compared to net income of $1.28 billion or 66 cents per share a year ago.

The Washington Post Company ((WPO)) advanced 3.0% or $12.90 to $432.00 after the diversified education and media company said second quarter revenues rose 2% to $1.13 billion from $1.11 billion a year ago. Net income in the quarter was $12.2 million or $1.30 per diluted share compared to net loss of $2.9 million or 31 cents per share a year ago.

Weyerhaeuser Company ((WY)) rose 2.7% or 98 cents to $36.60 after the forest products company said second quarter revenues fell 36.4% to $1.4 billion from $2.2 billion a year ago. Net loss in the quarter was $106 million or 50 cents per diluted share compared to net loss of $96 million or 45 cents per share a year ago.