Microsoft, MetroPCS, Comcast, CRA Fall

Mayank Mehta
01 Oct, 2009
New York City

Microsoft fell after Goldman Sachs cautioned on fiscal first quarter earnings. Comcast declined and the cable network operator denied that it is in talks to buy NBC Universal stake. MetroPCS fell on a downgrade. Penske Automotive dropped after it ended talks with GM.

[R]1:50 PM New York – Microsoft fell after Goldman Sachs cautioned on fiscal first quarter earnings. Comcast declined and the cable network operator denied that it is in talks to buy NBC Universal stake. MetroPCS fell on a downgrade. Penske Automotive dropped after it ended talks with GM.[/R]

Of the stocks in S&P 500 index, 45 increased, 450 declined and 5 were unchanged.

Comcast Corporation led the decliners in the S&P 500 index with a loss of 6.8% followed by losses in MetroPCS Communications, Inc of 5.8%, in FMC Corporation of 4.8%, in Akamai Technologies, Inc of 4.6% and in IntercontinentalExchange, Inc of 4.3%.

Teradyne, Inc led gainers in the S&P 500 index with a rise of 5.1% followed by gains in Constellation Brands, Inc 4.2%, in Big Lots, Inc of 2.8% and in Union Pacific Corporation of2.6%.

Other Movers

Alcoa Inc ((AA)) rose 1.7% or 23 cents to $13.35 after the producer of aluminum was upgraded to “buy” from “hold” at Deutsche Bank AG.

Ascent Solar Technologies, Inc ((ASTI)) plunged 14.8% or $1.12 to $6.42 after the developer of solar modules announced that it has priced its previously announced public offering of 4.6 million shares of its common stock at $6.50 each.

Constellation Brands, Inc ((STZ)) added 4.1% or 63 cents to $15.78 after the wine and spirits distributor reported second quarter sales fell 8.3% to $876.8 million from $956.5 million a year ago. Net income in the quarter was $99.7 million or 45 cents per diluted share compared to net loss of $22.7 million or 11 cents per share a year ago.

Comcast Corporation ((CMCSA)) dropped 6.1% or $1.04 to $15.84 after the cable operator denied the earlier news report that it is looking to acquire NBC Universal unit stake from France based Vivendi SA.

CRA International, Inc ((CRAI)) plunged 20.3% or $5.54 to $21.75 after the financial, and management consulting services firm reported third quarter sales fell 19.7% to $89.3 million from $111.2 million a year ago. Net income in the quarter fell 31% to $2.9 million or 27 cents per diluted share compared to net income of $4.2 million or 39 cents per share a year ago.

Diamond Foods, Inc ((DMND)) added 3.1% or 97 cents to $31.72 after the nut seller said fourth quarter sales rose 0.6% to $113.8 million from $113.1 million a year ago. Net income in the quarter rose 61.5% to $4.2 million or 25 cents per diluted share compared to net income of $2.6 million or 16 cents per share a year ago.

Energy Transfer Partners, L.P ((ETP)) dropped 3.2% or $1.40 to $41.14 after the pipeline partnership today announced it has priced a public offering of 6 million common units representing limited partner interests at $41.27 per common unit.

Fairchild Semiconductor International, Inc ((FCS)) fell 4.4% or 45 cents to $9.78 after the maker of chips for computers and mobile phones was downgraded to “underweight” from “neutral” at JPMorgan Chase & Co.

KB Home ((KBH)) fell 4.1% or 69 cents to $15.93 after the homebuilder was downgraded to “neutral” from “outperform” at Credit Suisse Group AG.

Lawson Software, Inc ((LWSN)) advanced 8.9% or 56 cents to $6.80 after the software company said first quarter sales fell 11.5% to $169 million from $191 million a year ago. Net income in the quarter was $6 million or 4 cents per diluted share compared to net loss of $3.7 million or 2 cents per share a year ago.

MSCI Inc ((MXB)) fell 8.7% or $2.60 to $27.02 after the provider of investment decision support tools reported third quarter revenues fell 1.4% to $108.9 million from $110.4 million a year ago. Net income in the quarter rose 10.6% to $20.9 million or 20 cents per diluted share compared to net income of $18.9 million or 19 cents per share a year ago.

MetroPCS Communications Inc ((PCS)) dropped 7% to $8.69 after JP Morgan lowered its rating to “neutral” from “overweight” and cited crowded market and stiff competition in the pay-as-you-go wireless service market.

Microsoft Corp ((MSFT)) decrease 3% to $24.94 after Goldman Sachs removed the software developer from its “conviction buy” list and cited a level of risk for its fiscal 2010 first quarter earnings.

Penske Automotive Group Inc ((PAG)) decreased 14% to $16.42 after the auto dealer network operator suspended its talks with General Motors to acquire Saturn division. General Motors is likely to close the division if there are no other buyers.

Teradyne, Inc ((TER)) added 1.9% or 18 cents to $9.43 after the maker of test equipment for electronics manufacturers today updated guidance for the third quarter ending on October 4. The company now expects revenue between $250 and $260 million a sequential increase of approximately 50%. Net income per share is expected to be 10 cents to 13 cents on a non-GAAP basis and a net loss per share of 3 cents to breakeven on a GAAP basis.

UAL Corporation ((UAUA)) plunged 12.3% or $1.14 to $8.08 after the parent of United Airlines said that it plans to offer, subject to market and other conditions, 19 million shares of its common stock in an underwritten registered public offering.

The Company also plans to offer, subject to market and other conditions, $175 million aggregate principal amount of convertible senior notes due 2029 in a concurrent underwritten registered public offering.

Xyratex Limited ((XRTX)) rose 7.4% or 71 cents to $10.22 after the data storage technology provider said third quarter revenues fell 12.3% to $246.3 million from $280.8 million a year ago. Net income in the quarter was flat at $7.8 million or 26 cents per diluted share compared to net income of $7.8 million or 26 cents per share a year ago.