AutoZone, Advance Auto Fall; Aegean Marine Rises

Mayank Mehta
13 Aug, 2009
New York City

AutoZone, Inc led the decliners in the S&P 500 index with a loss of 4.2%. Advance Auto Parts second quarter sales and net increased 7%. LDK Solar Co in the second quarter lost $217 million. Wal-Mart edges higher after sales and net edge lower.

[R]12:30 PM New York – AutoZone, Inc led the decliners in the S&P 500 index with a loss of 4.2%. Advance Auto Parts second quarter sales and net increased 7%. LDK Solar Co in the second quarter lost $217 million. Wal-Mart edges higher after sales and net edge lower.[/R]

Of the stocks in S&P 500 index, 251 increased, 243 declined and 6 were unchanged.

AutoZone, Inc led the decliners in the S&P 500 index with a loss of 4.2% followed by losses in D.R. Horton, Inc of 4.0%, in Rockwell Collins, Inc of 3.0%, in O’Reilly Automotive, Inc of 3.0% and in AutoNation, Inc of 2.6%.

Harris Corporation led gainers in the S&P 500 index with a rise of 16.2% followed by gains in Tellabs, Inc 7.0%, in Dr Pepper Snapple Group, Inc of 6.8% and Regions Financial Corporation of 5.8%.

Other Movers

Advance Auto Parts, Inc ((AAP)) decreased 4.4% or $2.03 to $43.60 an automotive aftermarket retailer said second quarter revenues rose 7% to $1.32 billion from $1.24 billion a year ago. Net income in the quarter rose 7% to $80.3 million or 83 cents per diluted share compared to net income of $75.4 million or 78 cents per share a year ago.

Aegean Marine Petroleum Network, Inc ((ANW)) rose 6.1% or $1.17 to $20.22 after the Piraeus, Greece based supplier of fuel for ships said net income adjusted for a $4.2 million gain from sale of vessels was $12.1 million or 28 cents diluted earnings per share.

Autozone, Inc ((AZO)) decreased 2.6% after Wedbush Morgan analyst Camilo Lyon lowered retailer rating to “Neutral” from “Underperform” and declined price target to $142 from $170.

Bally Technologies, Inc ((BYI)) declined 2.0% or 71 cents to $36.90 after the slot machine maker said fourth quarter revenues fell 17% to $205.1 million from $247.4 million a year ago. Net income in the quarter rose 6% to $33.2 million or 58 cents per diluted share compared to net income of $31.3 million or 54 cents per share a year ago.

Bank of America Corporation ((BAC)) advanced 4.1% or 66 cents to $16.59.

Briggs & Stratton Corporation ((BGG)) gained 3.5% or 60 cents to $17.62 after the producer of air cooled gasoline engines reported fourth quarter sales fell 17% to $482.8 million from $581.1 million a year ago. Net income in the quarter rose 960% to $5.3 million or 11 cents per diluted share compared to net income of $0.5 million or 1 cent per share a year ago.

China Housing & Land Development, Inc ((CHLN)) fell 9.8% or 60 cents to $5.52 after the apartment developer in China’s northwestern city of Xi’an said diluted net loss per share attributable to ordinary shareholders was32 cents compared to diluted earnings per share of 3 cents in the second quarter of 2008 and diluted earnings per share of 6 cents in the first quarter of 2009.

Dr Pepper Snapple Group, Inc ((DPS)) rose 6.1% or $1.46 to $24.94 after the beverage company reported second quarter sales fell 4.5% to $1.48 billion from $1.55 billion a year ago. Net income in the quarter rose 46.3% to $158 million or 62 cents per diluted share compared to net income of $108 million or 42 cents per share a year ago.

Harris Corporation ((HRS)) rose 16.1% or $4.91 to $35.41 after the maker of military radios said company has revised its guidance for non-GAAP income from continuing operations for fiscal 2010 to a range of $3.40 to $3.50 per diluted share.

Kinross Gold Corporation ((KGC)) added 3.7% or 73 cents to $20.20 after the gold miner said second quarter revenues rose 100% to $598.1 million from $298.7 million a year ago. Net income in the quarter fell 26% to $19.3 million or 3 cents per diluted share compared to net income of $26.0 million or 4 cents per share a year ago.

Kohl’s Corporation ((KSS)) sank 3.1% or $1.63 to $50.64 after the department store operator reported second quarter sales rose 2% to $3.81 billion from $3.73 billion a year ago. Net income in the quarter fell 3% to $229 million or 75 cents per diluted share compared to net income of $236 million or 77 cents per share a year ago.

LDK Solar Co., Ltd ((LDK)) fell 15.1% or $1.70 to $9.51 after the solar cell wafer maker said second quarter revenues fell 48% to $228.3 million from $441.7 million a year ago. Net loss in the quarter was $216.9 million or $2.03 per ADS compared to net income of $149.5 million or $1.29 per ADS a year ago.

Urban Outfitters, Inc ((URBN)) rose 3.1% or 85 cents to $29.07 after the apparel retailer reported second quarter sales rose 1% to $458.6 million from $454.3 million a year ago. Net income in the quarter fell 14% to $49 million or 29 cents per diluted share compared to net income of $57 million or 33 cents per share a year ago.

Wal-Mart Stores, Inc ((WMT)) rose 1.2% or 59 cents to $51.10 after the world''s retailer reported second quarter revenues fell 1.4% to $100.08 billion from $101.5 billion a year ago. Net income in the quarter fell 0.3% to $3.44 billion or 88 cents per diluted share compared to net income of $3.45 billion or 87 cents per share a year ago.