Ivanhoe, AMR Rise; Eastman Kodak Falls

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

AMR Corp surged after it arranged $2.9 billion in financing. Ivanhoe Energy soared after it discovered energy field in Ecuador. Oracle declined after quarterly sales increased less than expected. Spirit AeroSystems Holdings and ArcelorMittal were in focus on ratings revisions.

[R]1:00 PM New York – AMR Corp surged after it arranged $2.9 billion in financing. Ivanhoe Energy soared after it discovered energy field in Ecuador. Oracle declined after quarterly sales increased less than expected. Spirit AeroSystems Holdings and ArcelorMittal were in focus on ratings revisions.[/R]

Of the stocks in S&P 500 index, 188 increased, 305 declined and 7 were unchanged.

Eastman Kodak Company led the decliners in the S&P 500 index with a loss of 6.7% followed by losses in Zions Bancorporation of 4.7%, in CB Richard Ellis Group, Inc of 4.0%, in KeyCorp of 3.8% and in Principal Financial Group, Inc of 3.6%.

Hospira, Inc led gainers in the S&P 500 index with a rise of 5.1% followed by gains in Viacom, Inc 4.1%, in Gannett Co., Inc of 3.4% and in Pitney Bowes Inc of 3.1%.

Other Movers

ArcelorMittal ((MT)) decreased 2.0% or 84 cents to $41.15 after the steelmaker was downgraded to “hold” from “buy” at Societe Generale.

AMR Corporation ((AMR)) jumped 22.4% or $1.65 to $9.00 after the parent of American Airlines sold its frequent flier air miles to Citigroup for $1 billion and arranged $1.9 billion from General Electric subsidiary plane leases and purchase 22 planes for its regional service from Bombardier.

Apogee Enterprises, Inc ((APOG)) added 3.6% or 52 cents to $14.80 after the glass products maker said second quarter revenues fell 23% to $187.4 million from $245 million a year ago. Net income in the quarter rose 6.6% to $13.0 million or 47 cents per diluted share compared to net income of $12.2 million or 43 cents per share a year ago.

CKE Restaurants, Inc ((CKE)) decreased 6.7% or 76 cents to $11.27 after the fast-food restaurant operator said second quarter revenues fell 5% to $336 million from $352.5 million a year ago. Net income in the quarter fell 0.7% to $12.25 million or 22 cents per diluted share compared to net income of $12.34 million or 23 cents per share a year ago.

CLARCOR Inc ((CLC)) fell 0.7% or 23 cents to $32.75 after the maker of air filtration systems for cars, trucks and planes said third quarter revenues fell 16.6% to $230.3 million from $276.3 million a year ago. Net income in the quarter fell 17.4% to $21.3 million or 42 cents per diluted share compared to net income of $25.8 million or 50 cents per share a year ago.

The Dress Barn, Inc ((DBRN)) fell 3.7% or 69 cents to $17.50 after the women''s clothing retailer said fourth quarter sales rose 4% to $398.9 million from $328.3 million a year ago. Net income in the quarter rose 19% to $26.4 million or 41 cents per diluted share compared to net income of $22.1 million or 34 cents per share a year ago.

Discover Financial Services ((DFS)) increased 3.3% or 48 cents to $15.80 after the credit card issuer and electronic payment services provider reported third quarter net interest income rose 40.6% to $528.8 million from $376 million a year ago. Net income for the quarter rose 210.6% to $559.4 million or $1.07 per diluted share compared to net income of $180.1 million or 37 cents per share a year ago.

FedEx Corporation ((FDX)) fell 1.8% or $1.44 to $76.76 after the retailer of consumer electronics reported first quarter revenues fell 20% to $8.01 billion from $9.97 billion a year ago. Net income for the quarter fell 53% to $181 million or 58 cents per diluted share compared to net income of $384 million or $1.23 per share a year ago.

Hospira, Inc ((HSP)) increased 1.7% to $42.92 after the generic drug maker lifted its adjusted earnings per share for 2009 to $2.80.

Ivanhoe Energy Inc ((IVAN)) surged 17.0% or 37 cents to $2.55 after the oil and gas exploration company discovered oil filed in Ecuador with reserves of 12.1 billion barrels.

The Marcus Corporation ((MCS)) was unchanged at $13.88 after the lodging and entertainment company reported first quarter revenues fell 8.5% to $110.2 million from $120.4 million a year ago. Net income for the quarter fell 17.7% to $10.2 million or 34 cents per diluted share compared to net income of $12.4 million or 42 cents per share a year ago.

Oracle Corporation ((ORCL)) declined 2.2% or 49 cents to $21.64 after the software maker said first quarter sales fell 5% to $5.05 billion from $5.3 billion a year ago. Net income in the quarter rose 4% to $1.12 billion or 22 cents per diluted share compared to net income of $1.08 billion or 21 cents per share a year ago.

Eastman Kodak Company ((EK)) plunged 12.1% or 82 cents to $5.86 after the photography company said it plans to raise $700 million through a series of financing transactions, including a commitment from Kohlberg Kravis Roberts & Co. L.P.

Pier 1 Imports, Inc ((PIR)) increased 7.5% or 22 cents to $3.13 after the home decor company reported second quarter sales fell 11% to $286.7 million from $320.5 million a year ago. Net loss for the quarter was $15.8 million or 17 cents per diluted share compared to net loss of $30.2 million or 34 cents per share a year ago.

Quidel Corporation ((QDEL)) rose 1.2% or 21 cents to $17.45 after the maker of tests for pregnancy and infectious diseases received special clearance for its QuickVue test package.

Peabody Energy Corporation ((BTU)) fell 0.7% or 36 cents to $40.25 after the coal company was downgraded to “neutral” from “buy” at UBS AG.

Somanetics Corporation ((SMTS)) rose 2.9% or 41 cents to $14.50 after the medical device company reported third quarter revenues rose 0.8% to $12.5 million from $12.4 million a year ago. Net income for the quarter fell 26.7% to $2.2 million or 17 cents per diluted share compared to net income of $3.0 million or 23 cents per share a year ago.

XenoPort, Inc ((XNPT)) soared 25.7% or $5.08 to $24.78 after the developer of a technique to promote drug absorption today announced top-line results from a Phase IIb clinical trial evaluating the safety and efficacy of drug associated with post-herpetic neuralgia in adults.