KB Home, RiM Fall; Sara Lee, AMR Rise

Mayank Mehta
25 Sep, 2009
New York City

Research In Motion declines after earnings disappointed some traders. KB Home fell on earnings. Airlines trade higher after UBS lift rating on AMR Corp. Terra Industries declare one-time cash dividend. Sara Lee increase of global body care division sale to Unilever.

[R]11:00AM New York – Research In Motion declines after earnings disappointed some traders. KB Home fell on earnings. Airlines trade higher after UBS lift rating on AMR Corp. Terra Industries declare one-time cash dividend. Sara Lee increase of global body care division sale to Unilever.[/R]

Of the stocks in S&P 500 index, 173 increased, 318 declined and 9 were unchanged.

KB Home led the decliners in the S&P 500 index with a loss of 7.2% followed by losses in Legg Mason, Inc of 4.7%, in Textron Inc of 4.4%, in Jabil Circuit, Inc of 4.0% and in Massey Energy Company of 3.7%.

Sara Lee Corporation led gainers in the S&P 500 index with a rise of 5.3% followed by gains in McAfee, Inc 3.3%, in Sunoco, Inc of 2.5% and in XL Capital Ltd of 2.4%.

Other Movers

Allos Therapeutics, Inc ((ALTH)) rose 1.3% or 11 cents to $8.27 after the developer of cancer-fighting medicines announced that FDA has granted accelerated approval for Folotyn (pralatrexate injection) for use as a single agent for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma.

Allied Irish Banks, plc ((AIB)) increased 4.0% or 37 cents to $9.52 after the Ireland’s lender would gain €2 billion ($2.9 billion) in cash by selling its stakes in two U.S. and Polish banks but wants to keep its holding in Polish brokerage.

AMR Corporation ((AMR)) rose 3.6% or 28 cents to $8.02 after the airliner was upgraded to “buy” from “neutral” at UBS AG.

Analogic Corporation ((ALOG)) added 0.2% or 9 cents to $35.83 after the medical and security imaging equipment maker said fourth quarter revenues fell 16% to $98.3 million from $117.1 million a year ago. Net loss in the quarter was $285,000 or 2 cents per diluted share compared to net income of $3.3 million or 25 cents per share a year ago.

AZZ incorporated ((AZZ)) increased 2.8% or $1.01 to $36.96 after manufacturer of electrical products reported second quarter sales fell 7.8% to $95.2 million from $103.3 million a year ago. Net income in the quarter fell 2% to $11.1 million or 89 cents per diluted share compared to net income of $11.3 million or 92 cents per share a year ago.

Christopher & Banks Corporation ((CBK)) decreased 0.8% or 7 cents to $7.82 after the clothing retailer said second quarter sales fell 21% to $101.2 million from $128.5 million a year ago. Net loss in the quarter was $2.1 million or 6 cents per diluted share compared to net income of $836,000 or 2 cents per share a year ago.

KB Home ((KBH)) decreased 7.8% or $1.45 to $17.09 after the homebuilder reported third quarter revenues fell 32.7% to $458.5 million from $681.6 million a year ago. Net loss in the quarter was $66 million or 87 cents per diluted share compared to net loss of $144.7 million or $1.87 per share a year ago.

Park Electrochemical Corp ((PKE)) rose 2.6% or 62 cents to $23.80 after the global advanced material company reported second quarter sales fell 23.6% to $42.5 million from $55.6 million a year ago. Net income in the quarter fell 2% to $4.8 million or 23 cents per diluted share compared to net income of $4.9 million or 24 cents per share a year ago.

Research In Motion Limited ((RIMM)) plunged 11.2% or $9.36 to $73.70 after the blackberry maker said second quarter revenues rose 37% to $3.53 billion from $2.58 billion a year ago. Net income in the quarter fell 4% to $475.6 million or 83 cents per diluted share compared to net income of $495.5 million or 86 cents per share a year ago.

Saba Software, Inc ((SABA)) climbed 4.1% or 17 cents to $4.26 after the human resources software company said first quarter revenues rose 2% to $25.8 million from $25.3 million a year ago. Net income in the quarter was $1 million or 3 cents per diluted share compared to net loss of $2.2 million or 8 cents per share a year ago.

Sara Lee Corporation ((SLE)) rose 5.2% or 55 cents to $11.09 after the global manufacturer and marketer of consumers products agreed to sell its global body care business to Anglo-Dutch food and household goods maker Unilever for $1.9 billion. Unilever closed nearly unchanged in London and Amsterdam trading.

Spectrum Control, Inc ((SPEC)) rose 0.2% or 2 cents to $9.79 after the maker of custom electronic products and systems said third quarter sales fell 5% to $31.5 million from $33.1 million a year ago. Net income in the quarter fell 13% to $2.04 million or 16 cents per diluted share compared to net income of $2.35 million or 18 cents per share a year ago.

Terra Industries Inc ((TRA)) fell 0.4% or 18 cents to $36.31 after the fertilizer producer today announced that it plans to return $750 million in cash to shareholders through a special cash dividend of $7.50 per share expected to be declared and paid in the fourth quarter of 2009.

TIBCO Software Inc ((TIBX)) added 8.4% or 77 cents to $9.90 after the business software company said third quarter revenues fell 7.4% to $150.3 million from $162.3 million a year ago. Net income in the quarter rose 34% to $14.9 million or 9 cents per diluted share compared to net income of $11.1 million or 6 cents per share a year ago.