Cognizant, CVS Rise; PPL, Horton Fall

Mayank Mehta
04 Aug, 2009
New York City

PPL Corporation led the decliners in the S&P 500 index with a loss of 9.0%. Cognizant surged after it lifted its third quarter revenue and earnings outlook. D.R. Horton, Inc reports third quarter loss. CVS Caremark second quarter revenues increased 18% and net income gained 15%.

[R]11:50 AM New York – PPL Corporation led the decliners in the S&P 500 index with a loss of 9.0%. Cognizant surged after it lifted its third quarter revenue and earnings outlook. D.R. Horton, Inc reports third quarter loss.[/R]

Of the stocks in S&P 500 index, 123 increased, 368 declined and 9 were unchanged.

PPL Corporation led the decliners in the S&P 500 index with a loss of 9.0% followed by losses in Pulte Homes, Inc of 8.1%, in Centex Corporation of 7.9%, in Gannett Co., Inc of 4.7% and in D.R. Horton, Inc of 4.6%.

Cognizant Technology Solutions Corporation led gainers in the S&P 500 index with a rise of 9.3 % followed by gains in MBIA Inc 8.3%, in The Pepsi Bottling Group, Inc of 6.9% and Cameron International Corp of 5.8%.

Other Movers

3PAR Inc ((PAR)) added 4.2% or 41 cents to $10.00 after the provider of utility storage said first quarter revenues rose 4% to $44.5 million from $43.0 million a year ago. Net loss in the quarter was $1.8 million or 3 cents per diluted share compared to net income of $0.7 million or 1 cent per share a year ago.

Acorda Therapeutics, Inc ((ACOR)) fell 0.1% or 4 cents to $25.81 after the commercial-stage biopharmaceutical company reported second quarter revenues rose 10% to $12.6 million from $11.4 million a year ago. Net loss in the quarter was $23.3 million or 62 cents per diluted share compared to net loss of $18.8 million or 58 cents per share a year ago.

Allegheny Energy, Inc ((AYE)) dropped 0.2% or 7 cents to $25.69 an integrated energy business reported second quarter revenues fell 14.6% to $814.7 million from $953.5 million a year ago. Net income in the quarter fell 53% to $72.6 million or 43 cents per diluted share compared to net income of $154.1 million or 91 cents per share a year ago.

Amgen Inc ((AMGN)) fell 0.08% or 5 cents to $62.81 after the world’s largest biotechnology company said its drug denosumab met the goals of a late-stage study in treating patients with cancer that has spread to their bones, as it performed similarly to Novartis AG''s drug Zometa.

Atmel Corporation ((ATML)) advanced 3.6% or 15 cents to $4.32 after the computer chip component maker said second quarter revenues fell 32% to $285 million from $421 million a year ago. Net loss in the quarter was $12.4 million or 3 cents per diluted share compared to net loss of $4.9 million or 1 cent per share a year ago.

ATS Medical, Inc ((ATSI)) decreased 1.4% or 5 cents to $3.43 after the manufacturer and marketer of state-of-the-art cardiac surgery products and services said second quarter revenues rose 17% to $19.8 million from $16.9 million a year ago. Net loss in the quarter was $0.2 million or break even per diluted share compared to net loss of $4.7 million or 8 cents per share a year ago.

Archer Daniels Midland Company ((ADM)) the world’s grain processor slid 3.9% or $1.20 to $29.19.

Berry Petroleum Company ((BRY)) fell 2.8% or 73 cents to $25.07 an energy company reported second quarter revenues fell 50% to $99.9 million from $198.9 million a year ago. Net loss in the quarter was $13.0 million or 28 cents per diluted share compared to net income of $49.1 million or $1.07 per share a year ago.

Bill Barrett Corporation ((BBG)) sank 3.0% or $1.05 to $32.91 after the exploration, development and production of natural gas reported second quarter revenues fell 1.2% to $138.9 million from $157.5 million a year ago. Net income in the quarter fell 68% to $10.6 million or 24 cents per diluted share compared to net income of $33.3 million or 73 cents per share a year ago.

Cameron International Corp ((CAM)) rose 5.7% or $1.91 to $34.87 an oilfield services company reported second quarter revenues fell 14% to $1.27 billion from $1.48 billion a year ago. Net income in the quarter fell 7% to $138.6 million or 62 cents per diluted share compared to net income of $148.8 million or 64 cents per share a year ago.

Centex Corporation ((CTX)) increased 3.7% or 41 cents to $11.32 after the homebuilder said first quarter revenues fell 49% to $573.9 million from $1.13 billion a year ago. Net income in the quarter was $85.1 million or 68 cents per diluted share compared to net loss of $150.1 million or $1.21 per share a year ago.

Chesapeake Energy Corporation ((CHK)) rose 4.2% or 92 cents to $22.36 after the natural gas producer said second quarter revenue was $1.7 billion from a loss of $455 million a year ago. Net income in the quarter was $237 million or 39 cents per diluted share compared to net loss of $1.6 billion or $3.16 per share a year ago.

Cognizant Technology Solutions Corporation ((CTSH)) surged 9% or $2.71 to $33.18 after the computer services provider raised its third quarter revenues of $800 million and earnings per share on GAAP basis of 40 cents and 44 cents on non-GAAP basis. For the fiscal 2009, the company estimates revenues of at least $3.14 billion and diluted earnings of $1.66 a share.

CVS Caremark Corporation ((CVS)) gained 2.8% or 98 cents to $34.98 after the drugstore operators reported second quarter revenues rose 18% to $24.87 billion from $21.14 billion a year ago. Net income in the quarter rose 15% to $886.5 million or 60 cents per diluted share compared to net income of $771.2 million or 53 cents per share a year ago.

DexCom, Inc ((DXCM)) increased 3.4% or 22 cents to $6.68 after the medical device company said second quarter revenues rose 240% to $6.8 million from $2.0 million a year ago. Net loss in the quarter was $15.3 million or 33 cents per diluted share compared to net loss of $15.0 million or 51 cents per share a year ago.

D.R. Horton, Inc ((DHI)) fell 1.8% or 22 cents to $11.53 after the homebuilder reported third quarter revenues fell 36% to $914.1 million from $1.43 billion a year ago. Net loss in the quarter was $142.3 million or 45 cents per diluted share compared to net loss of $399.3 million or $1.26 per share a year ago.

DURECT Corporation ((DRRX)) advanced 2.6% or 6 cents to $2.36 after the specialty pharmaceutical company said second quarter revenues fell 22.2% to $4.9 million from $6.3 million a year ago. Net loss in the quarter was $7.5 million or 9 cents per diluted share compared to net loss of $8.6 million or 11 cents per share a year ago.

Expeditors International of Washington, Inc ((EXPD)) lost 4.1% or $1.45 to $33.35 after the global logistics service provider reported second quarter revenues fell 38% to $895.4 million from $1.45 billion a year ago. Net income in the quarter fell 24% to $54.1 million or 25 cents per diluted share compared to net income of $71.2 million or 32 cents per share a year ago.

Gartner, Inc ((IT)) fell 0.9% or 16 cents to $17.31 an information technology research and advisory company reported second quarter revenues fell 22% to $270 million from $343.9 million a year ago. Net income in the quarter fell 42.5% to $17.2 million or 18 cents per diluted share compared to net income of $29.2 million or 30 cents per share a year ago.

HealthSpring, Inc ((HS)) added 5.0% or 69 cents to $13.88 after the managed care organization reported second quarter revenues rose 20.4% to $682.5 million from $566.9 million a year ago. Net income in the quarter fell 20.7% to $31.9 million or 58 cents per diluted share compared to net income of $40.2 million or 72 cents per share a year ago.

IntercontinentalExchange, Inc ((ICE)) lost 3.3% or $3.20 to $92.59 after the global exchange and OTC market operator reported second quarter revenues rose 27% to $250.4 million from $197.2 million a year ago. Net income in the quarter fell 15% to $72.1 million or 97 cents per diluted share compared to net income of $84.9 million or $1.19 per share a year ago.

Knology, Inc ((KNOL)) jumped 8.8% or 77 cents to $9.43 after the provider of interactive communications and entertainment services reported second quarter revenues rose 5.7% to $107.9 million from $102.1 million a year ago. Net income in the quarter was $1.3 million or 4 cents per diluted share compared to net loss of $4.0 million or 11 cents per share a year ago.

MannKind Corporation ((MNKD)) gained 2.4% or 20 cents to $8.23 after the biopharmaceutical company said second quarter net loss in was $55.6 million or 54 cents per diluted share compared to net loss of $79.8 million or 79 cents per share a year ago.

STEC, Inc ((STEC)) surged 4.1% or $1.41 to $35.50 after the memory chip maker said second quarter revenues rose 54% to $86.4 million from $56.2 million a year ago. Net income in the quarter was $19.4 million or 38 cents per diluted share compared to net income of $1.4 million or 3 cents per share a year ago.

PHH Corporation ((PHH)) rose 2.9% or 57 cents to $19.66 an outsource provider of mortgage and vehicle fleet management services reported second quarter revenues rose 15.8% to $768 million from $663 million a year ago. Net income in the quarter rose 562.5% to $106 million or $1.91 per diluted share compared to net income of $16 million or 30 cents per share a year ago.

PPL Corporation ((PPL)) plunged 10.6% or $3.61 to $30.37 an energy and utility company reported second quarter revenues rose 65% to $1.67 billion from $1.01 billion a year ago. Net loss in the quarter was $7 million or 2 cents per diluted share compared to net income of $190 million or 50 cents per share a year ago.

Principal Financial Group, Inc ((PFG)) surged 7.3% or $1.74 to $25.44 after the insurance, retirement and financial services company said second quarter revenues fell 19% to $2.16 billion from $2.66 billion a year ago. Net income in the quarter rose 10.7% to $150.3 million or 52 cents per diluted share compared to net income of $168.3 million or 64 cents per share a year ago.

Spectra Energy Corp ((SE)) decreased 0.1% or 3 cents to $18.74 after the premier natural gas infrastructure company reported second quarter revenues fell 17.3% to $937 million from $1.13 billion a year ago. Net income in the quarter fell 52.5% to $140 million or 22 cents per diluted share compared to net income of $295 million or 47 cents per share a year ago.

Vulcan Materials Company ((VMC)) increased 0.6% or 32 cents to $47.80 after the producer of construction aggregates said second quarter revenues fell 29.4% to $721.9 million from $1.02 billion a year ago. Net income in the quarter fell 84% to $22.2 million or 20 cents per diluted share compared to net income of $140.8 million or $1.27 per share a year ago.

Zymogenetics, Inc ((ZGEN)) dropped 0.3% or 2 cents to $5.58 an independent biopharmaceutical company said second quarter revenues rose 79.4% to $22.6 million from $12.6 million a year ago. Net loss in the quarter was $27 million or 39 cents per diluted share compared to net loss of $37.4 million or 54 cents per share a year ago.