AIG, Newmont, Las Vegas Sands, Vonage Rise

123jump.com Staff
02 Sep, 2009
New York City

Gold miners surged after a rise in precious metals prices. Gold added $21.50 or 2.3% and silver increased 2.2% to $15.39. DHT Maritime after it reported lower than expected earnings. Las Vegas Sands completed $600 million bond offering in advance of its public offering in Hong Kong.

[R]3:00 PM New York – Gold miners surged after a rise in precious metals prices. Gold added $21.50 or 2.3% and silver increased 2.2% to $15.39. DHT Maritime after it reported lower than expected earnings. Las Vegas Sands completed $600 million bond offering in advance of its public offering in Hong Kong.[/R]

Of the stocks in S&P 500 index, 155 increased, 340 declined and 5 were unchanged.

American International Group, Inc led the decliners in the S&P 500 index with a loss of 9.1% followed by losses in Smith International, Inc of 5.1%, in Genworth Financial, Inc of 4.0%, in Ford Motor Company of 4.0% and in MBIA Inc of 3.5%.

UnitedHealth Group Incorporated led gainers in the S&P 500 index with a rise of 5.7% followed by gains in Humana Inc 4.7%, in Coventry Health Care, Inc of 4.6% and WellPoint, Inc of 4.6%.

Other Movers

ADC Telecommunications, Inc ((ADCT)) decreased 5.7% or 48 cents to $7.81 after the network equipment maker said third quarter sales fell 25.8% to $283.4 million from $381.8 million a year ago. Net loss in the quarter was $0.8 million or 1 cent per diluted share compared to net income of $15.1 million or 13 cents per share a year ago.

Amkor Technology, Inc ((AMKR)) increased 11.3% to $6.27 after the company was upgraded by Credit Suisse.

AIG ((AIG)) increased 5.1% to $37.83 after China Strategic Holdings Ltd is interested in acquiring 60% stake in Taiwan based Nan Shang Life Insurance Co controlled by AIG. China Strategic filed with the Hong Kong Stock Exchange to raise HK$7.6 billion to pay for the stake.

Applied Signal Technology, Inc ((APSG)) dropped 8.9% or $2.35 to $23.87 after the maker of gear to process communications signals said revenues for the third quarter of $49,500,000 versus the year ago quarter’s revenues of $49,948,000 and it has completed the acquisition of Pyxis Engineering.

Donaldson Company, Inc ((DCI)) declined 5.2% or $1.92 to $35.01 after the worldwide manufacturer of filtration systems said fourth quarter sales fell 30.6% to $421.3 million from $607.4 million a year ago. Net income in the quarter fell 51.5% to $23.6 million or 30 cents per diluted share compared to net income of $48.6 million or 60 cents per share a year ago.

DHT Maritime Inc ((DHT)) lost 19.4% or 99 cents to $4.09 an oil tanker owner and operator reported second quarter revenues fell 5.9% to $26.2 million from $27.8 million a year ago. Net income for the quarter fell 51.5% to $5.0 million or 10 cents per diluted share compared to net income of $10.3 million or 29 cents per share a year ago.

Gold miners surged in trading after gold and precious metals prices surge. Newmont Mining Corp ((NEM)) surged 8% to $43.39, BHP Billiton ((BHP)) increased 0.2% to $60.73, Harmony Gold ((HMY)) added 10% to $9.90, IAMGOLD Corporation soared 9.4% to $12.28 and Lihir Gold Limited added 7.5% to $24.28.

Joy Global Inc ((JOYG)) gained 1.2% or 42 cents to $37.61 after the manufacturer of mining equipment reported third quarter revenues rose 6% to $956.4 million from $903.8 million a year ago. Net income for the quarter rose 10% to $124.3 million or $1.21 per diluted share compared to net income of $113.1 million or $1.03 per share a year ago.

Las Vegas Sands Corp ((LVS)) rose 2.1% or 29 cents to $13.74 after the casino company announced today that it has secured commitments for up to $600 million of capital through the sale of exchangeable bonds.

Novavax, Inc ((NVAX)) fell 8.5% or 57 cents to $6.08 after the vaccine maker was downgraded to “perform” from “outperform” at Oppenheimer Holdings Inc.

Take-Two Interactive Software, Inc ((TTWO)) fell 3.2% or 34 cents to $10.16 after the video game industry said third quarter sales fell 68% to $138.6 million from $433.8 million a year ago. Net loss in the quarter was $55.5 million or 72 cents per diluted share compared to net income of $51.8 million or 67 cents per share a year ago.

Textron Inc ((TXT)) rose 4.6% or 72 cents to $16.22 after Goldman Sachs analyst raised the rating on the stock to “buy” from “neutral.”

VeriFone Holdings, Inc ((PAY)) added 5.5% or 62 cents to $11.75 after the provider of electronic payment services said third quarter sales fell 18% to $211.2 million from $258.7 million a year ago. Net income in the quarter was $21.9 million or 26 cents per diluted share compared to net loss of $7.2 million or 9 cents per share a year ago.

Vonage Holdings Corp ((VG)) surged 29.3% or 42 cents to $1.85 after the Internet phone telecom carrier said that Apple Inc approved its mobile application for iPhone and iPod devices. The availability date of the application has not been released. Recently Vonage also released world unlimited calling plan that includes 60 countries for $24.99 a month.