New York Times, BJ's Rise; Yingli Green Drops

Mayank Mehta
19 Aug, 2009
New York City

The New York Times Company led gainers in the S&P 500 index with a rise of 1.9%. BJ

[R]11:45AM New York – The New York Times Company led gainers in the S&P 500 index with a rise of 1.9%. BJ’s Wholesale Club second quarter profit drops but beats estimates. Giant Interactive Group Inc second quarter profit tanks 34%. HP third quarter net earnings drop 19%.[/R]

Of the stocks in S&P 500 index, 105 increased, 391 declined and 4 were unchanged.

D.R. Horton, Inc led the decliners in the S&P 500 index with a loss of 5.4% followed by losses in Alcoa Inc of 4.8%, in Deere & Company of 4.4%, in International Paper Company of 4.1% and in Wynn Resorts, Limited of 3.5%.

The New York Times Company led gainers in the S&P 500 index with a rise of 1.9% followed by gains in AmerisourceBergen Corporation 1.7%, in Time Warner Cable Inc of 1.6% and Pactiv Corporation of 1.5%.

Other Movers

Alcoa Inc ((AA)) declined 4.6% or 60 cents to $12.32 after the aluminum producer was downgraded to “neutral” from “buy” at Goldman Sachs Group Inc.

American Dental Partners, Inc ((ADPI)) dropped 6.8% or 90 cents to $12.16 after the provider of management services for dental practices announced that it priced a public offering of 2.26 million shares of common stock at $12.00 per share with expected net proceeds of approximately $25.4 million.

Analog Devices, Inc ((ADI)) decreased 4.7% or $1.29 to $25.93 after the chip designer said third quarter revenues fell 25.3% to $492 million from $659 million a year ago. Net income in the quarter fell 53% to $65.5 million or 22 cents per diluted share compared to net income of $138.6 million or 47 cents per share a year ago.

BJ’s Wholesale Club ((BJ)) fell 0.4% or 15 cents to $31.32 after the warehouse chain reported second quarter sales fell 5% to $2.51 billion from $2.64 billion a year ago. Net income in the quarter fell 3.8% to $35.1 million or 64 cents per diluted share compared to net income of $36.5 million or 61 cents per share a year ago.

Cigna Corporation ((CI)) fell 2.4% or 72 cents to $28.75 after the health insurer was downgraded to “neutral” from “outperform” at Credit Suisse.

Deere & Company ((DE)) decreased 3.0% or $1.35 to $43.74 after the farm equipment maker reported third quarter revenues fell 24% to $5.89 billion from $7.74 billion a year ago. Net income in the quarter fell 27% to $420 million or 99 cents per diluted share compared to net income of $575.2 million or $1.32 per share a year ago.

D.R. Horton, Inc ((DHI)) the homebuilding company fell 3.0% or 37 cents to $11.85.

Eaton Vance Corp ((EV)) dropped 3.5% or $1.06 to $29.06 after the investment management firm reported third quarter revenues rose 19% to $228.4 million from $282.8 million a year ago. Net income in the quarter fell 37% to $31.2 million or 26 cents per diluted share compared to net income of $49.6 million or 40 cents per share a year ago.

Giant Interactive Group Inc ((GA)) declined 4.3% or 34 cents to $7.40 after the Chinese online game developer said second quarter revenues fell 28% to Rmb 364.1 million from Rmb 504.8 million a year ago. Net income in the quarter fell 34% to Rmb 231.9 million or Rmb 0.99 per diluted share compared to net income of Rmb 350.6 million or Rmb 1.40 per share a year ago.

Hewlett-Packard Company ((HPQ)) decreased 2.0% or 89 cents to $43.07 after the pc maker said third quarter revenues fell 2% to $27.5 billion from $28 billion a year ago. Net income in the quarter fell 19% to $1.64 billion or 67 cents per diluted share compared to net income of $2.03 billion or 80 cents per share a year ago.

Hess Corporation ((HES)) the oil company declined 0.5% or 35 cents to $50.27.

La-Z-Boy Incorporated ((LZB)) added 7.2% or 54 cents to $7.95 after the residential furniture producers said first quarter revenues fell 18.3% to $262.7 million from $321.7 million a year ago. Net income in the quarter was $2.0 million or 4 cents per diluted share compared to net loss of $8.5 million or 17 cents per share a year ago.

The New York Times Company ((NYT)) rose 1.8% or 14 cents to $7.83 after the company reported second quarter revenue of $584.5 million and net income of $39.1 million or 27 cents a share. The analysts were estimating a loss of 4 cents.

Yingli Green Energy Holding Co ((YGE)) dropped 8.9% to $10.70 after the solar panel maker reported 44 cents per ADR.